Business Context and Reporting Period
This Form 8-K is a current report filed by RPC, Inc. on September 3, 2026. The filing addresses Item 5.02 regarding the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
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 executive compensation adjustments.
Material Changes
The Board of Directors' Human Capital Management and Compensation Committee approved retroactive salary increases effective May 16, 2026:
- Ben M. Palmer (President and CEO): Annual base salary increased from approximately $637,000 to $750,000.
- Michael L. Schmit (VP, CFO, Treasurer, and Corporate Secretary): Annual base salary increased from approximately $361,000 to $530,000. Additionally, his target annual cash bonus opportunity for 2026 was increased to 85% of his annual base salary.
The filing states that these changes do not alter other material terms of the executives' compensation arrangements.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the retroactive effective date of May 16, 2026, for the salary adjustments.
- Confirm the specific impact of the increased bonus target (85%) on Mr. Schmit's total potential compensation for 2026.
- Review the company's most recent 10-K or 10-Q for baseline financial performance, as this 8-K contains no operational financial data.