ProPetro Holding Corp. (NYSE:PUMP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ProPetro Holding Corp. (NYSE:PUMP) 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 June 1, 2017, the Board of Directors of ProPetro Holding Corp. approved increases in the annual salary payable to each of Dale Redman, Chief Executive Officer, Jeff Smith, Chief Financial Officer and David Sledge, Chief Operating Officer, to $650,000, $500,000, and $425,000, respectively. Under the terms of their respective employment agreements, each of these officers was previously provided with an annual salary of $250,000.
These salary increases, which are effective June 1, 2017, are designed to provide our long-standing officers with annual base salaries that are more directly comparable to other similarly sized public companies in the oilfield services industry.

About ProPetro Holding Corp. (NYSE:PUMP)

ProPetro Holding Corp. is an oilfield services company. The Company provides hydraulic fracturing and other complementary services to upstream oil and gas companies, which are engaged in the exploration and production (E&P) of North American unconventional oil and natural gas resources. The Company operates through seven segments: hydraulic fracturing, cementing, acidizing, coil tubing, flowback, surface drilling and Permian drilling. Its pressure pumping segment includes cementing and acidizing operations. The Company’s operations are focused in the Permian Basin. As of December 31, 2016, the Company’s fleet consisted of 10 hydraulic fracturing units with an aggregate of 420,000 hydraulic horsepower (HHP).

ProPetro Holding Corp. (NYSE:PUMP) Recent Trading Information

ProPetro Holding Corp. (NYSE:PUMP) closed its last trading session down -0.25 at 13.23 with 1,040,803 shares trading hands.

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