Business Context and Reporting Period
This Form 8-K Current Report was filed by Oil States International, Inc. on September 14, 2016. The filing discloses a specific corporate governance event: the appointment of a new senior financial officer effective September 14, 2016.
Key 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 executive compensation and appointment details rather than periodic financial performance.
Material Changes
The primary material change reported is the appointment of Brian E. Taylor as Vice President, Controller, and Chief Accounting Officer. This appointment includes the following compensation package:
- Base Salary: $275,000 annually.
- Target Annual Bonus: 40% of base salary.
- Equity Award: Pro-rated annual award of $131,771 (4,615 shares of restricted stock), vesting in annual increments over three years.
- Severance: Eligibility for the standard change of control severance plan based on current base salary and target bonus.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on business strategy, or discussion of risks and contingencies. It confirms there are no undisclosed arrangements regarding Mr. Taylor's selection and no family relationships with directors or officers requiring disclosure.
Investor Verification Checklist
- Verify the effective date of Brian E. Taylor's appointment (September 14, 2016).
- Confirm the vesting schedule of the 4,615 restricted stock shares granted.
- Review the specific terms of the Company's standard change of control severance plan referenced in the filing.
- Check subsequent filings for any updates to the executive team or financial results for the period following this appointment.