On November 28, 2016, Gulf Island Fabrication, Inc. (the “Company”) appointed David S. Schorlemer, age 49, as its new Executive Vice President of Finance, Chief Financial Officer and Treasurer, effective January 3, 2017. Kirk J. Meche, the Company’s President and Chief Executive Officer, will continue in the role of interim Chief Financial Officer and Treasurer until such time as Mr. Schorlemer’s appointment is effective.

Mr. Schorlemer has approximately twenty years’ experience as a financial or other senior officer in the energy services industry. Prior to joining the Company, Mr. Schorlemer served as Chief Financial Officer of GR Energy Services Management, L.P., an energy service company delivering completion and production solutions to the United States and Latin American markets. From 2004 to 2015, Mr. Schorlemer served as Executive Vice President and Chief Financial Officer of Stallion Oilfield Holdings, Inc., an energy service company providing upstream, midstream and industrial services to its customers. Mr. Schorlemer served as Chief Financial Officer and Vice President of Q Services, Inc. from 1997 until Q Services merged with Key Energy Services, Inc. in 2002. Following the merger, Mr. Schorlemer served as Vice-President Marketing & Strategic Planning of Key Energy Services, Inc. until 2004. Mr. Schorlemer also served as Project Manager with Accenture from 1991 to 1997. There are no transactions reportable to Item 404(a) of Regulation S-K in connection with Mr. Schorlemer’s appointment as Executive Vice President of Finance, Chief Financial Officer and Treasurer.

Mr. Schorlemer’s base salary will be $340,000. Mr. Schorlemer is eligible to participate in the Company’s annual and long-term incentive compensation programs generally available to executive officers beginning in 2017, as well as additional benefits generally available to all employees of the Company.

About Gulf Island Fabrication, Inc. (NASDAQ:GIFI)

Gulf Island Fabrication, Inc. (Gulf Island) is a holding company. The Company, along with its subsidiaries, is a fabricator of steel platforms and other specialized structures for customers in the offshore oil and gas industry. It also performs onshore and offshore construction and fabrication services for customers in the marine industry. Its primary activity is the fabrication of offshore drilling and production platforms and other steel structures for customers in the oil and gas and marine industries, including jackets and deck sections of fixed production platforms, hull, tendon, and/or deck sections of floating production platforms, piles, wellhead protectors. It conducts its operations through its subsidiaries, which include Gulf Island, L.L.C.; Gulf Marine Fabricators, L.P.; Gulf Island Marine Fabricators, L.L.C.; Gulf Island Shipyards, L.L.C.; Dolphin Services, L.L.C.; and Dolphin Steel Sales, L.L.C.

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Recent Trading Information

Gulf Island Fabrication, Inc. (NASDAQ:GIFI) closed its last trading session up +0.20 at 11.55 with 58,993 shares trading hands.