Business Context and Reporting Period
Company: Select Water Solutions, Inc. (Ticker: WTTR)
Filing Type: Form 8-K (Current Report)
Date of Report: October 9, 2025
Principal Executive Offices: Gainesville, TX
This filing reports the execution of new severance agreements with four executive officers to standardize compensation, aid in talent retention, and enhance protections during executive transitions.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation arrangements and does not contain financial performance data.
Material Changes
Executive Compensation Structure: On October 9, 2025, the Company entered into Severance Agreements with the following officers:
- Christopher K. George (EVP and CFO)
- Michael C. Skarke (EVP and COO)
- Michael J. Lyons (EVP and Chief Strategy and Technology Officer)
- Cody J. Ortowski (EVP, Business and Regulatory Affairs)
Superseded Agreement: The new agreement with Mr. Skarke terminates and supersedes his previous Amended and Restated Employment Agreement dated March 1, 2021.
Guidance, Outlook, and Material Terms
Severance Benefits for Qualifying Termination (No Change in Control):
- Severance Payment: 1x sum of annualized base salary plus target bonus opportunity.
- Bonus: Pro-rated annual cash bonus based on actual performance.
- COBRA Reimbursement: Up to 12 months.
Severance Benefits for Qualifying Termination within 24 Months of Change in Control:
- Severance Payment: 2x sum of annualized base salary plus target bonus opportunity.
- Bonus: Pro-rated annual cash bonus based on actual performance.
- COBRA Reimbursement: Up to 24 months.
Restrictive Covenants:
- Non-Competition/Non-Solicitation: Applies to Messrs. George, Skarke, and Lyons for 12 months post-employment.
- Confidentiality: Applies to all four executives indefinitely post-employment.
Risks and Contingencies: Benefits are contingent upon the executive executing and not revoking a release of claims in favor of the Company.
Investor Verification Checklist
- Review the full text of the Severance Agreements filed as Exhibit 10.1 (George, Skarke, Lyons) and Exhibit 10.2 (Ortowski) for complete terms.
- Verify the specific definitions of "Cause" and "Good Reason" within the exhibits to understand termination triggers.
- Confirm the impact of these agreements on future compensation expenses and potential cash outflows in the event of a Change in Control.
- Check subsequent filings for any actual terminations or changes to the executive team.