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.
On March 16, 2018, E.C. Reinauer, Jr., a director of Adams Resources & Energy, Inc. (the “Company”) since 1973, notified the Company of his intent to retire from service on its Board of Directors following the completion of his current term, which is through the date of the 2018 Annual Meeting of Shareholders. Consequently, Mr. Reinauer will not stand for re-election to the Board of Directors at the 2018 Annual Meeting of Shareholders, which is presently anticipated to be held on May 8, 2018.
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.
