Business Context and Reporting Period
This Form 8-K Current Report was filed by Nine Energy Service, Inc. on May 22, 2026. The filing reports on the permanent appointment of Heather Schmidt as Chief Financial Officer (CFO) and principal financial officer, effective May 22, 2026, following her interim appointment on May 11, 2026.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation and personnel changes.
Material Changes
The primary material change is the transition of Heather Schmidt from Interim CFO to permanent CFO. No financial performance changes or operational shifts are detailed in this specific filing.
Guidance, Outlook, and Compensation Details
The filing details the terms of Ms. Schmidt's Amended and Restated Employment Agreement:
- Base Salary: $425,000 annually.
- Target Annual Bonus: 75% of base salary.
- Long-Term Incentives:
- Restricted Stock Units (RSUs) with a target value of $300,000, vesting over three years.
- Performance-based cash award with a target value of $300,000, based on relative total shareholder return (TSR) over three annual periods. The maximum payout is 200% of the target.
- Severance Provisions: In the event of a "Qualifying Termination" (without cause or for good reason), Ms. Schmidt is eligible for:
- Severance equal to one times the sum of base salary and target bonus (payable over 12 months).
- Prorated annual bonus.
- COBRA reimbursement for up to 18 months.
- If termination occurs within 24 months of a change in control, the severance multiplier increases to two.
Investor Verification Checklist
- Verify the full text of the Amended and Restated Employment Agreement (Exhibit 10.1) for specific definitions of "cause," "good reason," and performance metrics.
- Confirm the impact of the new CFO appointment on the company's strategic direction and investor relations strategy.
- Review subsequent filings for any changes to the company's financial outlook or capital structure following this leadership transition.