Business Context and Reporting Period
This Form 8-K reports on the results of the Annual Meeting of Stockholders for ProPetro Holding Corp., held on June 15, 2018. The filing details the election of directors and the ratification of the independent registered public accounting firm.
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 corporate governance voting results.
Material Changes and Voting Results
Director Elections
Seven directors were elected for terms expiring at the next annual meeting. Two former directors, Schuyler Coppedge and Peter Labbat, resigned in May 2018 and did not stand for reelection. The voting results for the nominees were:
- Dale Redman: 52,485,649 For; 925,067 Withheld
- Spencer D. Armour, III: 51,835,008 For; 1,575,708 Withheld
- Steven Beal: 52,621,287 For; 789,429 Withheld
- Anthony Best: 53,032,731 For; 377,985 Withheld
- Pryor Blackwell: 52,821,898 For; 588,818 Withheld
- Alan E. Douglas: 41,792,159 For; 11,618,557 Withheld
- Jack B. Moore: 39,434,817 For; 13,975,899 Withheld
Accounting Firm Ratification
Stockholders voted to ratify the appointment of Deloitte & Touche, LLP as the independent registered public accounting firm for the year ending December 31, 2018.
- For: 58,082,637
- Against: 34,992
- Abstaining: 76,840
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the significant number of votes withheld for directors Alan E. Douglas and Jack B. Moore compared to other nominees.
- Confirm the effective date of resignations for former directors Schuyler Coppedge and Peter Labbat.
- Review the full proxy statement for context regarding the voting patterns and director qualifications.