Business Context and Reporting Period
This Form 8-K is a current report filed by Drilling Tools International Corp (DTI) on December 9, 2025. The filing addresses a significant change in corporate governance following the passing of the company's Chairman of the Board.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure of Chairman: Mr. Thomas Hicks, who served as Chairman of the Board, passed away on December 6, 2025.
- Appointment of Interim Chairman: On December 9, 2025, the Board appointed Mr. Wayne Prejean, the Company's President and Chief Executive Officer, to serve as interim Chairman of the Board, effective immediately.
- Compensation: No changes to Mr. Prejean's compensation were approved in connection with this appointment at this time.
Outlook, Risks, and Management Commentary
The Board expressed condolences to Mr. Hicks' family and acknowledged his leadership. Mr. Prejean will serve as interim Chairman until a permanent successor is appointed or until his earlier resignation or removal. The Board may consider both internal and external candidates for the permanent role. There are no unusual items, contingencies, or specific risks disclosed in this filing beyond the leadership transition.
Key Facts for Investor Verification
- Confirm the timeline for the appointment of a permanent Chairman of the Board.
- Verify if future filings disclose any compensation adjustments for Mr. Prejean related to his new role.
- Review subsequent filings for any strategic shifts resulting from the leadership change.