Business Context and Reporting Period
This Form 8-K Current Report was filed by Oil States International, Inc. on June 4, 2018, regarding an event that occurred on May 31, 2018. The filing addresses corporate governance changes specifically related to the Board of Directors.
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 personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the election of Joe Wright as a member of the Board of Directors on May 31, 2018. This appointment fills a vacancy created earlier in the year. Mr. Wright is designated as a Class II Director with an initial term expiring at the annual meeting of stockholders in May 2021.
Management Commentary and Risks
The Board determined that Mr. Wright qualifies as an independent director, meeting the independence requirements under Section 303A.02 of the New York Stock Exchange Listed Company Manual. Mr. Wright currently serves as Executive Vice President and Chief Operating Officer of Concho Resources Inc., bringing extensive experience in drilling, completion programs, and operations. There are no reported understandings or arrangements regarding his selection, and no relationships requiring disclosure under Item 404(a) of Regulation S-K. His compensation will be consistent with that provided to other non-management directors.
Investor Verification Checklist
- Verify the independence status of Joe Wright as disclosed in the filing.
- Review the Company's Definitive Proxy Statement for the 2018 Annual Meeting of Stockholders to confirm director compensation details.
- Confirm the expiration date of the Class II Director term (May 2021).
- Check for any subsequent filings regarding the departure of the director who previously held the vacant seat.