SEC Filing Summary: Select Energy Services, Inc. (WTTR)
Business Context and Reporting Period
This Form 8-K Current Report was filed on June 17, 2021, covering events that occurred on June 16, 2021. The registrant is Select Energy Services, Inc., a Delaware corporation trading on the New York Stock Exchange under the ticker symbol WTTR. The filing addresses corporate governance changes rather than operational or financial performance updates.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding a specific corporate event and does not contain financial statements or performance data.
Material Changes
The primary material change reported is the appointment of Gayle Burleson as an independent director of the Board of Directors. Concurrent with this appointment, Ms. Burleson was assigned to both the Audit Committee and the Compensation Committee. The Board confirmed that she meets the independence requirements of the New York Stock Exchange and Rule 10A-3 of the Securities Exchange Act of 1934.
Guidance, Outlook, and Management Commentary
There is no financial guidance, outlook, or management commentary regarding business operations in this filing. The document details the compensation and legal protections for the new director:
- Compensation: Ms. Burleson will receive the standard compensation paid to non-employee directors, as outlined in the Company's 2021 Proxy Statement.
- Indemnification: The Company entered into an Indemnification Agreement with Ms. Burleson, requiring the Company to indemnify her to the fullest extent permitted by law against liabilities arising from her service and to advance related expenses.
- Insurance: The Company maintains directors' and officers' liability insurance for all Board members.
Investor Verification Checklist
- Verify the independence status of Gayle Burleson as disclosed in the filing.
- Review the Company's 2021 Proxy Statement (filed March 25, 2021) to confirm the specific compensation amounts for non-employee directors.
- Examine Exhibit 10.1 (Form of Indemnification Agreement) for specific terms regarding liability protection and expense advancement.
- Confirm the composition of the Audit and Compensation Committees following this appointment.