Business Context and Reporting Period
This Form 8-K Current Report was filed by Archrock, Inc. on July 11, 2018. The filing discloses the appointment of a new Senior Vice President and Chief Financial Officer and associated compensatory arrangements.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation details.
- Base Salary: $425,000 annually.
- Short-Term Incentive: Target annual cash bonus of 75% of base salary.
- Long-Term Incentive: Initial target value of $850,000.
- One-Time Equity Award: $500,000 in restricted stock vesting ratably over three years.
Material Changes
The primary material change is the appointment of Douglas S. Aron as Senior Vice President and Chief Financial Officer, effective August 13, 2018. Mr. Aron previously served as CFO for HollyFrontier Corporation and Nine Energy Service, Inc.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. It details standard executive agreements including indemnification, severance benefits (in the event of termination without cause), and change of control provisions. No unusual items or specific risks were disclosed in this report.
Investor Verification Checklist
- Verify the effective start date of the new CFO (August 13, 2018).
- Review the attached employment letter (Exhibit 10.1) for full terms of the compensation package.
- Confirm the vesting schedule and conditions for the $500,000 restricted stock award.
- Check the referenced prior filings for the standard forms of the indemnification, severance, and change of control agreements.