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Name | | | Age | | | Position | |
Matthew Wilks | | | 39 | | | Director and Chairman of the Board | |
Bruce Bradley | | | 64 | | | Director | |
Albert Conly | | | 66 | | | Director | |
Jose Carlos Fernandes | | | 56 | | | Director | |
Sergei Krylov | | | 44 | | | Director | |
Name | | | Fees Earned or Paid in Cash | | | Stock Awards(1) | | | Option Awards | | | All Other Compensation | | | Total | | |||||||||||||||
Mark A. Vander Ploeg | | | | $ | 107,000 | | | | | $ | 15,000 | | | | | $ | — | | | | | $ | — | | | | | $ | 122,000 | | |
William J. Barrett(2) | | | | | 30,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,000 | | |
Craig W. Cooper | | | | | 83,000 | | | | | | 15,000 | | | | | | — | | | | | | — | | | | | | 98,000 | | |
Gary M. Hoover, Ph.D.(2) | | | | | 36,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 36,000 | | |
Michael L. Klofas | | | | | 101,000 | | | | | | 15,000 | | | | | | — | | | | | | — | | | | | | 116,000 | | |
Ted R. North | | | | | 101,000 | | | | | | 15,000 | | | | | | — | | | | | | — | | | | | | 116,000 | | |
Name | | | Age | | | Position | |
Stephen C. Jumper | | | 60 | | | President and Chief Executive Officer | |
James K. Brata | | | 66 | | | Chief Financial Officer, Executive Vice President, Secretary and Treasurer | |
C. Ray Tobias | | | 64 | | | Chief Operating Officer and Executive Vice President | |
| | | 9/30/2016 | | | 10/14/2021 | | | CAGR | | |||||||||
West Texas Intermediate (“WTI”; $/bbl) | | | | $ | 48.82 | | | | | $ | 80.77 | | | | | | 10.5% | | |
Henry Hub (“HH”; $/mcf) | | | | $ | 3.23 | | | | | $ | 5.94 | | | | | | 12.8% | | |
Dawson Geophysical (“DWSN”; $/share) | | | | $ | 7.27 | | | | | $ | 2.26 | | | | | | (20.7)% | | |
| | | Year Ended December 31, | | |||||||||||||||||||||||||||||||||
$ in millions | | | 2021 | | | 2022 | | | 2023 | | | 2024 | | | 2025 | | | 2026 | | ||||||||||||||||||
Total Revenues | | | | $ | 22 | | | | | $ | 59 | | | | | $ | 74 | | | | | $ | 85 | | | | | $ | 96 | | | | | $ | 109 | | |
Adjusted EBITDA(1) | | | | $ | (12) | | | | | $ | 3 | | | | | $ | 7 | | | | | $ | 10 | | | | | $ | 12 | | | | | $ | 15 | | |
Capital Expenditures | | | | $ | 1 | | | | | $ | 3 | | | | | $ | 5 | | | | | $ | 10 | | | | | $ | 13 | | | | | $ | 15 | | |
Unlevered Free Cash Flow(2) | | | | $ | (7) | | | | | $ | (2) | | | | | $ | 2 | | | | | $ | (2) | | | | | $ | (2) | | | | | $ | (1) | | |
Implied Per Share Value Range | | | Offer Price | | |||
$1.86 – $2.09 | | | | $ | 2.34 | | |
Implied Per Share Value Ranges Based On: | | | Offer Price | | |||||||||
2022E EBITDA | | | 2023E EBITDA | | | | | | | | |||
$2.05 – $2.18 | | | | $ | 2.35 – $2.66 | | | | | $ | 2.34 | | |
Implied Per Share Value Ranges Based On: | | | Offer Price | | |||||||||
2022E EBITDA | | | 2023E EBITDA | | | | | | | | |||
$2.23 – $2.36 | | | | $ | 2.52 – $2.83 | | | | | $ | 2.34 | | |
Name and Principal Position | | | Year | | | Salary | | | Bonus(1) | | | All other Compensation(2) | | | Total | | |||||||||||||||
Stephen C. Jumper Chief Executive Officer and President | | | | | 2021 | | | | | $ | 360,001 | | | | | $ | — | | | | | $ | 33,942 | | | | | $ | 393,943 | | |
| | | 2020 | | | | | | 478,558 | | | | | | — | | | | | | 29,106 | | | | | | 507,664 | | | ||
James K. Brata Executive Vice President, Chief Financial Officer, Secretary and Treasurer | | | | | 2021 | | | | | | 278,751 | | | | | | — | | | | | | 21,603 | | | | | | 300,354 | | |
| | | 2020 | | | | | | 297,933 | | | | | | — | | | | | | 23,076 | | | | | | 321,009 | | | ||
C. Ray Tobias Executive Vice President and Chief Operating Officer | | | | | 2021 | | | | | | 316,251 | | | | | | — | | | | | | 32,909 | | | | | | 349,160 | | |
| | | 2020 | | | | | | 338,799 | | | | | | — | | | | | | 31,899 | | | | | | 370,698 | | |
Name | | | Stock Awards | | |||||||||
| Number of shares or | | | | |||||||||
Stephen C. Jumper | | | | | | | | | $ | 116,000(2) | | | |
James K. Brata | | | | | 25,000 | | | | | | | | |
C. Ray Tobias | | | | | | | | | | ||||
58,000 | |||||||||||||
| |
Name of Executive Officer | | | Number of Company RSUs (#) | | | Cash Consideration for RSUs ($) | | ||||||
Stephen C. Jumper | | | | | 50,000 | | | | | $ | 117,000 | | |
James K. Brata | | | | | 25,000 | | | | | $ | 58,500 | | |
C. Ray Tobias | | | | | 25,000 | | | | | $ | 58,500 | | |
Executive | | | Salary ($)(1) | | | Bonus ($)(2) | | | Vesting of stock awards ($)(3) | | | Vesting of option awards ($)(4) | | | All other benefits and perquisites ($)(5) | | | Total ($) | | ||||||||||||||||||
Stephen C. Jumper | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause / With Good Reason | | | | | 773,077 | | | | | | — | | | | | | 117,000 | | | | | | — | | | | | | 19,548 | | | | | | 909,625 | | |
Change in Control Termination | | | | | 1,546,154 | | | | | | — | | | | | | 117,000 | | | | | | — | | | | | | 39,096 | | | | | | 1,702,250 | | |
James K. Brata | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause / With Good Reason | | | | | 450,962 | | | | | | — | | | | | | 58,500 | | | | | | — | | | | | | 32,422 | | | | | | 541,884 | | |
Change in Control Termination | | | | | 901,924 | | | | | | — | | | | | | 58,500 | | | | | | — | | | | | | 47,844 | | | | | | 1,008,268 | | |
C. Ray Tobias | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause / With Good Reason | | | | | 515,385 | | | | | | — | | | | | | 58,500 | | | | | | — | | | | | | 29,548 | | | | | | 603,433 | | |
Change in Control Termination | | | | | 1,030,770 | | | | | | — | | | | | | 58,500 | | | | | | — | | | | | | 54,096 | | | | | | 1,143,366 | | |
Executive | | | Salary(1) | | | Bonus(2) | | | Vesting of stock awards | | | Vesting of option awards(3) | | | All other benefits and perquisites(4) | | | Total | | ||||||||||||||||||
Stephen C. Jumper | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause/With Good Reason | | | | $ | 669,231 | | | | | $ | — | | | | | $ | 116,000 | | | | | $ | — | | | | | $ | 19,548 | | | | | $ | 804,779 | | |
CIC Termination | | | | | 1,338,462 | | | | | | — | | | | | | 116,000 | | | | | | — | | | | | | 39,096 | | | | | | 1,493,558 | | |
CIC Without Termination | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Disability | | | | | 300,000 | | | | | | — | | | | | | 116,000 | | | | | | — | | | | | | 5,106 | | | | | | 421,106 | | |
Death | | | | | — | | | | | | — | | | | | | 116,000 | | | | | | — | | | | | | — | | | | | | 116,000 | | |
James K. Brata | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause/With Good Reason | | | | | 390,383 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 32,422 | | | | | | 480,807 | | |
CIC Termination | | | | | 780,770 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 42,844 | | | | | | 881,614 | | |
CIC Without Termination | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Disability | | | | | 175,000 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 3,474 | | | | | | 236,474 | | |
Death | | | | | — | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | — | | | | | | 58,000 | | |
C. Ray Tobias | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Termination Without Cause/With Good Reason | | | | | 446,154 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 29,548 | | | | | | 533,702 | | |
CIC Termination | | | | | 892,308 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 49,096 | | | | | | 999,404 | | |
CIC Without Termination | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Disability | | | | | 200,000 | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | 6,516 | | | | | | 264,516 | | |
Death | | | | | — | | | | | | — | | | | | | 58,000 | | | | | | — | | | | | | — | | | | | | 58,000 | | |
Plan Category | | | Number of Securities to be Issued Upon Exercise or Vesting of Outstanding Options, Warrants and Rights | | | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights | | | Number of Securities Remaining Available for Future Issuance Under the Equity Compensation Plan (Excluding Securities Reflected in Column (a)) | | |||||||||
| | | (a) | | | | | | | | | | | | | | |||
Restated 2016 Plan | | | | | | | | | | | | | | | | | | | |
Equity compensation plan approved by security holders | | | | | 335,000 | | | | | $ | —(1) | | | | | | 1,049,437 | | |
Equity compensation plans not approved by security holders | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 335,000 | | | | | $ | — | | | | | | 1,049,437 | | |
Name | | | | | | ||||||||
| | | | | | | | | | | | | |
Wilks Brothers, LLC | | | | | | | | | | | | ||
Dimensional Fund Advisors LP | | | | | 1,523,941(3)(4) | | | | | | 6.40% | | |
Renaissance Technologies LLC | | | | | 1,489,714(5)(4) | | | | | | 6.26% | | |
Arena Investors LP | | | | | 1,229,692(6)(4) | | | | | | 5.16% | | |
SECURITY OWNERSHIP OF MANAGEMENT | | | | | | | | | | | | | |
Stephen C. Jumper | | | | | — | | | | | | 0.00% | | |
C. Ray Tobias | | | | | — | | | | | | 0.00% | | |
James K. Brata | | | | | — | | | | | | 0.00% | | |
Matthew Wilks | | | | | — | | | | | | 0.00% | | |
Bruce Bradley | | | | | — | | | | | | 0.00% | | |
Albert Conly | | | | | — | | | | | | 0.00% | | |
Jose Carlos Fernandes | | | | | — | | | | | | 0.00% | | |
Sergei Krylov | | | | | — | | | | | | 0.00% | | |
Total Management Ownership | | | | | — | | | | | | 0.00% | | |
| | | 2021 | | | 2020 | | ||||||
Audit Fees(1) | | | | $ | 370,000 | | | | | $ | 431,000 | | |
Audit-related fees(2) | | | | | 9,000 | | | | | | — | | |
Tax Fees | | | | | — | | | | | | — | | |
All other fees | | | | | — | | | | | | — | | |
Total fees | | | | $ | 379,000 | | | | | $ | 431,000 | | |
| December 9, 2022 | | | Submitted by the Audit Committee of the Board of Directors | |
| | | | Albert Conly (Chairman) Bruce Bradley Jose Carlos Fernandes | |