U.S. Silica Holdings, Inc. (NYSE:SLCA) 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.
(b) On March 27, 2019, U.S. Silica Holdings, Inc. (the “Company”) and Billy Ray Smith, the Company’s Senior Vice President and President, Oil & Gas Proppants, mutually agreed upon Mr. Smith’s separation of service from the Company effective as of such date. This separation of service was not a result of any disagreement between the Company and Mr. Smith. In connection with this separation of service, the Company and Mr. Smith intend to enter into a separation agreement consistent with the Company’s standard executive severance arrangements as described in the Company’s definitive proxy statement as filed with the United States Securities and Exchange Commission on March 26, 2019.
About U.S. Silica Holdings, Inc. (NYSE:SLCA)
U.S. Silica Holdings, Inc. (U.S. Silica) is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, the Company serves the oil and gas recovery market providing fracturing sand, or frac sand. The Industrial & Specialty Products segment consists of over 250 products and materials. In its end market, oil and gas proppants, its frac sand is used to stimulate and maintain the flow of hydrocarbons in oil and natural gas wells. Its silica is also used as an irreplaceable raw material in a range of industrial applications, including glassmaking and chemical manufacturing. The Company produces and sells a range of commercial silica products, including whole grain and ground products, as well as other industrial mineral products.