Business Context and Reporting Period
This Form 8-K Current Report was filed by Oil States International, Inc. on May 18, 2021. The report discloses a corporate governance event: the election of a new director to the Board of Directors to fill a vacancy.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported figures for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The material change reported is the appointment of Denise Castillo-Rhodes as a Class II Director, effective May 17, 2021. Her initial term expires at the annual meeting of stockholders in May 2024. She has been appointed to the Company's Audit Committee.
Management Commentary and Qualifications
- Qualifications: The Board determined Ms. Castillo-Rhodes qualifies as an independent director and a financial expert under SEC regulations and NYSE requirements.
- Background: She currently serves as Chief Financial Officer of Texas Medical Center (since 2004), overseeing accounting, finance, risk management, and tax compliance. She is a Certified Public Accountant (CPA).
- Compensation: She will receive compensation consistent with other non-management directors as described in the 2021 Definitive Proxy Statement.
- Independence: No understandings or arrangements exist regarding her selection, and no relationships requiring disclosure under Item 404(a) of Regulation S-K were identified.
Investor Verification Checklist
- Verify the full text of the press release attached as Exhibit 99.1 for additional context on the appointment.
- Review the Company's 2021 Definitive Proxy Statement to confirm the specific compensation structure for non-management directors.
- Confirm the composition of the Audit Committee following this appointment to ensure compliance with independence standards.