Business Context and Reporting Period
This Form 8-K was filed by Flotek Industries, Inc. on February 1, 2021, reporting events that occurred on January 26, 2021, and February 1, 2021. The filing addresses a significant change in the composition of the Company's Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding corporate governance and does not contain financial performance data.
Material Changes
- Departure of Director: Kevin W. Brown, a member of the Board of Directors, passed away unexpectedly on January 26, 2021.
- Board Composition: Effective February 1, 2021, the Board reduced its size from eight to seven members.
- Committee Appointment: Harsha V. Agadi was appointed to the audit committee of the Board.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of operational risks. Management expressed deep condolences to the Brown family regarding the loss.
Key Facts for Investor Verification
- Confirm the current composition of the Board of Directors following the reduction to seven members.
- Verify the qualifications and background of Harsha V. Agadi in his new role on the audit committee.
- Monitor future filings for any additional changes to executive leadership or board structure resulting from this event.