ADAMS RESOURCES Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective September 7, 2017, Mr. Pressler will have a base annual salary of $300,000 and be eligible for an annual bonus at the discretion of the Board based upon performance. Mr. Pressler will be eligible to participate in a long term compensation plan when and if such plan is adopted by the Company. Further details on Mr. Pressler’s compensation will be included in the Company’s 2018 proxy statement.
About ADAMS RESOURCES & ENERGY, INC. (NYSEMKT:AE)
Adams Resources & Energy, Inc., along with its subsidiaries, is engaged in the business of crude oil marketing, tank truck transportation of liquid chemicals, and oil and gas exploration and production. The Company’s segments include Marketing Segment, Transportation Segment, and Oil and Gas Segment. The Company manages its Marketing Segment through its subsidiary, Gulfmark Energy, Inc., which is engaged in marketing of crude oil. It operates approximately 210 tractor-trailer rigs and maintains over 120 pipeline inventory locations or injection stations. The Company operates its Transportation Segment, through Service Transport Company, which transports liquid chemicals. Its Service Transport Company subsidiary operates over 320 truck tractors, of which over 290 are Company-owned with over 30 independent owner-operator units. The Oil and Gas Segment operates through Adams Resources Exploration Corporation subsidiary, which explores and develops domestic oil and natural gas properties.