Business Context and Reporting Period
Company: Oil States International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 13, 2006
Event: Adoption of a revised compensation policy for the Chairman of the Board.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on corporate governance and executive compensation changes.
Material Changes
- Chairman Compensation: The Board of Directors adopted a new policy effective November 13, 2006, changing the compensation structure for the Chairman.
- Annual Retainer: The Chairman is now entitled to an annual retainer of $50,000 for time served in that capacity.
- Board Compensation: The Chairman will also receive compensation as a non-employee member of the Board of Directors.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, risk factors, contingencies, or discussion of unusual items. The sole purpose of this report is to disclose the change in director compensation policy.
Investor Verification Checklist
- Verify the total annual compensation for the Chairman including the new $50,000 retainer and non-employee director fees.
- Review the attached Exhibit 10.21 (Non-Employee Director Compensation Summary) for detailed fee structures.
- Confirm if this compensation change impacts the company's overall executive compensation expense significantly.