Basic Energy Services, Inc. (NYSE:BAS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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Basic Energy Services, Inc. (NYSE:BAS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

On May 25, 2017, the stockholders of Basic Energy Services, Inc.
(the Company) approved the Basic Energy Services, Inc.
Non-Employee Director Incentive Plan (the Incentive Plan) to
authorize 100,000 shares of common stock for issuance thereunder.
A summary of the key terms of the Incentive Plan is included in
the Companys Definitive Proxy Statement on Schedule 14A for the
Annual Meeting (as defined under Item 5.07 below) filed on April
12, 2017. A copy of the Incentive Plan has been filed as Exhibit
10.1 to the Companys Form S-8 filed on May 25, 2017 and is
incorporated herein by reference. The above description of the
Incentive Plan is qualified in its entirety by the full text of
such exhibit.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The Company held its Annual Meeting of Stockholders on May 25,
2017 in Fort Worth, Texas (the Annual Meeting):
(1)
to elect three Class I directors to serve until the annual
meeting of stockholders in 2020;
(2)
to approve the Incentive Plan;
(3)
to approve, on a non-binding advisory basis, the named
executive officer compensation as disclosed in the Companys
Definitive Proxy Statement on Schedule 14A for the Annual
Meeting;
(4)
to vote on the frequency of future advisory votes on named
executive officer compensation; and
(5)
to ratify the appointment of KPMG LLP as the Companys
independent auditor for fiscal year 2017.
A total of 16,540,284 shares of the Companys common stock were
present at the meeting in person or by proxy, which represented
approximately 64% of the outstanding shares of the Companys
common stock as of March 30, 2017, the record date for the Annual
Meeting.
Proposal 1:>>Director nominees were elected at the Annual
Meeting based on the following vote tabulation:
Votes For
Votes Withheld
Broker Non-Votes
T.M. Roe Patterson
10,214,168
3,849,987
2,476,129
Julio M. Quintana
13,674,199
389,956
2,476,129
Anthony J. DiNello
14,025,605
38,550
2,476,129
Proposal 2: The vote to approve the Incentive Plan as disclosed
in the Companys Definitive Proxy Statement on Schedule 14A for
the Annual Meeting was approved as follows:
Votes For
Votes Against
Abstentions
Broker Non-Votes
13,571,318
489,067
3,770
2,476,129
Proposal 3:>>The vote to approve, on a non-binding advisory
basis, the Companys named executive officer compensation as
disclosed in the Companys Definitive Proxy Statement on Schedule
14A for the Annual Meeting was approved, with the vote count as
follows:
Votes For
Votes Against
Abstentions
Broker Non-Votes
11,336,105
2,372,128
355,922
2,476,129
Proposal 4:>>The vote on the frequency of voting, on a
non-binding advisory basis, of the Companys named executive
officer compensation as disclosed in the Companys Definitive
Proxy Statement on Schedule 14A for the Annual Meeting was
approved, with the vote count as follows:
Votes 1 Year
Votes “2 Years”
Votes 3 Years
Abstentions
Broker Non-Votes
14,038,067
9,977
15,329
2,476,129

Proposal 5:>>The ratification of the appointment of KPMG
LLP as the Companys independent auditor for fiscal year 2017
was approved as follows:
Votes For
Votes Against
Abstentions
Broker Non-Votes
16,058,510
478,867
2,907

Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
10.1
Basic Energy Services, Inc. Non-Employee Director
Incentive Plan (incorporated by reference to Exhibit
10.1 to the Companys Registration Statement on Form
S-8 filed on May 25, 2017).


About Basic Energy Services, Inc. (NYSE:BAS)

Basic Energy Services, Inc. provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Company operates through the segment, which include Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling. The Company’s operations are managed regionally and are concentrated in the United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania. Its operations are focused on liquids-rich basins, as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken, Eagle Ford, Haynesville and Marcellus shales.

Basic Energy Services, Inc. (NYSE:BAS) Recent Trading Information

Basic Energy Services, Inc. (NYSE:BAS) closed its last trading session down -1.68 at 27.43 with 247,825 shares trading hands.