Forbes Energy Services Ltd. (OTCMKTS:FESL) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07—Submission of Matters to a Vote of Security Holders
On June18, 2018, Forbes Energy Services Ltd. (the “Company”) held its 2018 annual meeting of stockholders. The matters voted on and the results of the voting were as follows:
Proposal No.1: Our stockholders re-elected Lawrence First and Brett Wyard as directors of the Company;
| Director Nominee | For | Withheld | Broker Non-Votes |
|
Lawrence First |
3,323,978 | 616,173 | 1,244,141 |
|
Brett Wyard |
3,327,192 | 612,959 | 1,244,141 |
Proposal No.2: Our stockholders approved a proposal to ratify the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December31, 2018.
| For | Against | Abstain |
|
5,184,292 |
Proposal No.3: Our stockholders considered a non-binding, advisory vote to approve the compensation of the Company’s named executive officers.
| For | Against | Abstain | Broker Non-Votes |
|
3,938,148 |
2,003 | 1,244,141 |
Proposal No.4: Our stockholders considered a non-binding, advisory vote on the frequency for stockholders’ non-binding, advisory vote on executive officers’ compensation.
| 1 Year | 2 Year | 3 Year | Abstain |
|
1,616,551 |
2,320,133 | 3,000 |
In accordance with the stockholders’ recommendation, the Company has determined that a non-binding, advisory vote on executive officers’ compensation will be conducted every three years, until the next stockholder non-binding, advisory vote on the frequency for stockholders’ non-binding, advisory vote on executive officers’ compensation.
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About Forbes Energy Services Ltd. (OTCMKTS:FESL)
Forbes Energy Services Ltd. (FES Ltd.) is a holding company. The Company is an independent oilfield services contractor that provides a range of well site services to oil and natural gas drilling and producing companies to develop the production of oil and natural gas. The Company’s segments are Well Servicing and Fluid Logistics. Its services include fluid disposal and well maintenance. The Company’s Well Servicing segment provides an offering of well services to oil and natural gas companies, including completions of drilled oil and natural gas wells, wellbore maintenance, workovers and recompletions, tubing testing, and plugging and abandonment services. Its Fluid Logistics segment provides a range of oilfield fluid sales, transportation, storage and disposal services that are required on workover, drilling and completion projects, and are used in daily operation of producing wells by oil and natural gas producers. It operates approximately six coiled tubing spreads.