Business Context and Reporting Period
This Form 8-K Current Report was filed by Oil States International, Inc. on June 11, 2018, reporting events that occurred on June 7, 2018. The filing pertains to corporate governance changes regarding the 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 focuses exclusively on the appointment of a new director and does not contain financial statement data.
Material Changes
- Board Expansion: The Board of Directors voted to increase its size from nine to ten members.
- Director Election: Darrell E. Hollek was elected to fill the resulting vacancy.
- Term Details: Mr. Hollek serves as a Class III Director with an initial term expiring at the annual meeting of stockholders in May 2019.
Management Commentary and Background
Mr. Hollek is the retired Executive Vice President, Operations of Anadarko Petroleum Corporation. His background includes 38 years at Anadarko in senior leadership roles covering U.S. onshore exploration, production, midstream activities, and Gulf of Mexico and international operations. The Board determined he qualifies as an independent director under NYSE rules. He will receive compensation consistent with other non-management directors as outlined in the 2018 Definitive Proxy Statement.
Key Facts for Investor Verification
- Verify the independence status of the new director, Darrell E. Hollek, as declared by the Board.
- Review the Company's Definitive Proxy Statement for the 2018 Annual Meeting to confirm director compensation structures.
- Confirm the effective date of the Board size increase (June 7, 2018) and the expiration of the new director's term (May 2019).