Business Context and Reporting Period
This Form 8-K Current Report from TETRA Technologies, Inc. (TTI) covers the date of September 29, 2025. The filing discloses a significant executive appointment within the company's finance leadership team.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
The primary material change reported is the appointment of Katherine Kokenes as Vice President – Chief Accounting Officer and principal accounting officer, effective September 29, 2025. Elijio Serrano will transfer principal accounting officer responsibilities to Ms. Kokenes but will continue to serve as Senior Vice President and Chief Financial Officer.
Compensation and Inducement Details
- Base Salary: $330,000 annually.
- Cash Incentive: Target bonus of 60% of base salary; a guaranteed minimum bonus of $75,000 for the 2025 performance year.
- Long-Term Incentives: Eligible for annual awards starting in 2026 with a target grant value of $225,000.
- Employment Inducement Award: 29,645 restricted stock units (RSUs) granted effective September 29, 2025. These may be settled in cash or stock at the Compensation Committee's discretion.
- Vesting Schedule: 12/36ths vest on September 29, 2026; the remainder vests in four equal six-month installments thereafter, contingent on continued employment.
- Employment Terms: The agreement is at-will with no guaranteed term, salary, or incentives beyond the Board's discretion.
Investor Verification Checklist
- Verify the impact of the leadership transition on the company's financial reporting timeline and internal controls.
- Confirm the total equity dilution or cash settlement cost associated with the 29,645 RSU inducement award.
- Review the full text of the Indemnification Agreement (Exhibit 10.1) for specific liability protections.
- Monitor future filings for the vesting status of the RSUs and any changes to the 2026 long-term incentive plan.