Business Context and Reporting Period
This Form 8-K Current Report was filed by Oil States International, Inc. on February 7, 2018, regarding an event that occurred on February 6, 2018. The filing addresses a change in the composition of the Company's Board of Directors.
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 and does not contain financial performance data.
Material Changes
- Board Resignation: Gary L. Rosenthal resigned from the Board of Directors and the Compensation Committee, effective immediately on February 6, 2018.
- Reason for Departure: The resignation was not the result of any disagreement with the Company regarding operations, policies, or practices.
- Compensation Adjustment: The Board approved the immediate acceleration of Mr. Rosenthal's previously reported award of 4,318 shares of Company common stock, which were originally scheduled to vest prior to the 2018 annual meeting.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on future performance, or discussion of risks and contingencies. The only unusual item noted is the immediate acceleration of equity awards for the departing director.
Investor Verification Checklist
- Verify the current composition of the Board of Directors following Mr. Rosenthal's departure.
- Confirm the total number of shares issued or vested as a result of the acceleration of the 4,318-share award.
- Review subsequent filings to determine if a replacement director was appointed to fill the vacancy.