Business Context and Reporting Period
This Form 8-K is a current report filed by Exterran Holdings, Inc. (noting the metadata reference to Archrock, Inc. appears to be a discrepancy as the filing text explicitly names Exterran) on August 1, 2008. The report covers events occurring on August 6, 2008, specifically regarding executive departures and related compensatory arrangements.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on personnel changes and the disclosure of contractual obligations rather than financial performance metrics.
Material Changes
- Executive Departure: Brian A. Matusek, Senior Vice President and Chief Operating Officer, terminated his employment with the Company effective August 6, 2008.
- Compensatory Arrangement: Mr. Matusek is eligible for benefits under a change of control agreement originally with Hanover Compressor Company, which Exterran assumed. These benefits are triggered because the termination occurred within one year of a defined change of control event.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the disclosure of the executive departure. The primary contingency noted is the payment of benefits to Mr. Matusek as detailed in the Company's 2008 proxy statement and previous 8-K filings.
Investor Verification Checklist
- Verify the specific financial terms of the change of control agreement referenced in the April 3, 2008 proxy statement.
- Confirm the identity of the successor to the Chief Operating Officer role.
- Review the definition of "change of control" in the Hanover Compressor Company agreement to understand the trigger for the severance benefits.
- Clarify the relationship between the metadata name "Archrock, Inc." and the registrant "Exterran Holdings, Inc." (Note: Exterran was later acquired by Archrock in 2011).