KLX Energy Services Holdings, Inc. — Form 8-K Summary
Business Context and Reporting Period
KLX Energy Services Holdings, Inc. filed a Form 8-K dated May 3, 2021 under Item 5.02 regarding changes to the size and composition of its board of directors. The changes are effective as of the company’s 2021 annual meeting of stockholders, scheduled for June 8, 2021.
Key Financial Metrics
This filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or other financial performance metrics.
Material Changes
- The board determined to reduce its size from nine to seven directors, effective as of the annual meeting.
- Stephen M. Ward, Jr. resigned as a Class II director effective as of the annual meeting.
- Dalton Boutté, Jr. will not stand for election as a Class III director at the annual meeting.
- The filing states that neither departure involved disagreements with the company or board regarding operations, policies, practices, or other matters.
Expected Board Composition
Following the annual meeting, the board is expected to consist of Gunnar Eliassen, John T. Collins, Richard G. Hamermesh, Thomas P. McCaffrey, Corbin J. Robertson, Jr., Dag Skindlo, and John T. Whates, Esq. The continued service of Mr. McCaffrey and Mr. Robertson is subject to re-election at the annual meeting.
Guidance, Outlook, Risks, and Unusual Items
The filing provides no financial guidance or operating outlook. The principal disclosed item is a planned reduction in board size and related director departures. No litigation, contingency, or unusual financial item is disclosed in the provided text.
Investor Verification Items
- Verify the outcome of the June 8, 2021 annual meeting and the re-election of the Class III directors.
- Confirm that the board was reduced from nine to seven directors as planned.
- Review subsequent filings for additional governance, director, or executive compensation changes.
- Consult the company’s periodic financial filings for financial metrics not included in this Form 8-K.