Business Context and Reporting Period
This Form 8-K reports on the results of the 2018 Annual Meeting of Stockholders for Select Energy Services, Inc. (Note: The input metadata references "Select Water Solutions, Inc.", but the filing text explicitly identifies the registrant as "Select Energy Services, Inc."). The report date is May 4, 2018.
Key Financial Metrics
This filing is a Current Report regarding corporate governance and stockholder voting results. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
There are no material financial changes reported in this document. The filing details the successful re-election of the board of directors and the approval of corporate governance proposals.
Guidance, Outlook, and Voting Results
The filing details the outcomes of five proposals voted on by stockholders:
- Proposal 1 (Election of Directors): All nine nominees were re-elected. Vote percentages ranged from 94.93% (Adam J. Klein and Douglas J. Wall) to 99.75% (David C. Baldwin).
- Proposal 2 (Auditor Ratification): Grant Thornton LLP was ratified as the independent registered public accounting firm for fiscal 2018 with 99.99% approval.
- Proposal 3 (Employee Stock Purchase Plan): The plan was approved and ratified with 99.99% approval.
- Proposal 4 (Say-on-Pay): The advisory vote on executive compensation was approved by 99.62% of votes cast.
- Proposal 5 (Say-on-Pay Frequency): Stockholders voted to conduct future advisory votes on executive compensation every 3 years (73.79% of votes), compared to every 2 years (1.80%) or every year (24.40%).
Investor Verification Checklist
- Verify the correct registrant name is Select Energy Services, Inc., not Select Water Solutions, Inc.
- Confirm the re-election of directors Adam J. Klein and Douglas J. Wall, who received the lowest support (approx. 95%) compared to other nominees.
- Review the 2018 Proxy Statement for details on the executive compensation approved in Proposal 4.
- Note the strong stockholder preference (73.79%) for triennial executive compensation advisory votes.