Cactus, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cactus, Inc. on November 14, 2018. The filing reports material changes to the Company's executive leadership structure, specifically regarding the Chief Financial Officer (CFO) and Principal Financial Officer roles.
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 personnel changes and does not contain financial performance data.
Material Changes
- Departure of CFO: Brian Small notified the Company of his intention to step down as Chief Financial Officer and Principal Financial Officer, effective March 15, 2019.
- Role Transition: Mr. Small will transition to the role of Senior Finance Director, overseeing corporate and operational finance functions.
- Appointment of New CFO: The Board of Directors appointed Stephen Tadlock as Vice President and Chief Financial Officer, effective March 15, 2019.
- Role Change for New CFO: Mr. Tadlock will assume the duties of Principal Financial Officer and will no longer serve as Vice President and Chief Administrative Officer.
Outlook, Risks, and Management Commentary
Compensation: The Compensation Committee has not yet determined changes to the compensation for either Mr. Small or Mr. Tadlock. The Company intends to provide this information in an amendment to this Form 8-K within four business days after the details are determined.
Background: Stephen Tadlock joined Cactus in June 2017 and previously served as a board observer for Cactus LLC since its founding in 2011. He brings experience from Cadent Energy Partners LLC, where he managed investments across energy sectors.
Key Facts for Investor Verification
- Verify the effective date of the leadership transition (March 15, 2019).
- Monitor for the upcoming amendment to this filing regarding compensation details for the new CFO and the transitioning CFO.
- Confirm the specific scope of duties for the new Senior Finance Director role held by Brian Small.