Mammoth Energy Services, Inc. (NASDAQ:TUSK) 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 January 25, 2019, the Board of Directors (the “Board”) of Mammoth Energy Services, Inc. (the “Company”), in accordance with the Company’s bylaws, appointed Arthur H. Amron as a member of the Board and its Compensation Committee, effective immediately. As provided in the Company’s bylaws, Mr. Amron will serve in these capacities until the next Annual Meeting of the Company’s Stockholders or until his earlier death, resignation, retirement, disqualification or removal. The Board determined that Mr. Amron qualifies as an independent director under The Nasdaq Global Select Market rules for purposes of serving on the Board and the Compensation Committee.
Mr. Amron is a Partner at Wexford Capital LP, an SEC-registered investment advisor (“Wexford Capital”), and serves as its General Counsel. Mr. Amron also actively participates in various private equity transactions and has served on the boards and creditors’ committees of a number of public and private companies. In particular, Mr. Amron has served on the board of directors of Nephros, Inc. (OTCQB Marketplace: NEPH), a commercial stage medical device and commercial products company, since September 2007. Mr. Amron also served on the board of directors of the general partner of Rhino Resource Partners LP (NYSE: RNO), a diversified energy limited partnership focused on coal and energy related assets and activities (“Rhino”), from January 2010 until the sale of Wexford Capital’s interest in Rhino to Royal Energy Resources, Inc. in March of 2016. From 1991 to 1994, Mr. Amron was an Associate at Schulte Roth & Zabel LLP, specializing in corporate and bankruptcy law, and from 1984 to 1991, Mr. Amron was an Associate at Debevoise & Plimpton LLP specializing in corporate litigation and bankruptcy law. Mr. Amron holds a J.D. from Harvard University, a B.A. in Political Theory from Colgate University and is a member of the New York Bar. Among other experience, qualifications, attributes and skills, Mr. Amron’s legal training and experience in the capital markets, as well as his experience serving on boards of directors of other public companies, led to the conclusion of the Board that he should serve as a director of the Company.
In connection with Mr. Amron’s appointment to the Board, Mr. Amron is entitled to receive the cash compensation and equity awards generally given to the Company’s non-employee directors for their services on the Board and its committees as disclosed in the Company’s Definitive Proxy Statement on Schedule 14A, filed by the Company with the Securities and Exchange Commission on April 25, 2018, which description is incorporated herein by reference. to the terms of Mr. Amron’s employment with Wexford Capital, Mr. Amron has assigned to Wexford Capital his right to compensation, including equity awards, for his services on the Board.
About Mammoth Energy Services, Inc. (NASDAQ:TUSK)
Mammoth Energy Services, Inc. is an integrated oilfield service company. The Company is engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. The Company’s segments include Contract Land and Directional Drilling Services; Completion and Production Services; Natural Sand Proppant Services, and Remote Accommodation Services. Its Completion and Production Services division provides pressure pumping services, pressure control Services, flowback services and equipment rentals. Its Natural Sand Proppant Services division is engaged in selling, distributing and producing proppant for hydraulic fracturing. Its Contract Land and Directional Drilling Services division provides drilling rigs and crews for operators, as well as rental equipment. Its Remote Accommodation Services division provides housing, kitchen and dining, and recreational service facilities for oilfield workers located in remote areas.
