UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2020, the Compensation Committee of the Board of Directors of Select Energy Services, Inc. (the “Company”) approved a global amendment (the “PSU Amendment”) to the award agreements governing the Company’s performance share units granted in 2018 and 2019 pursuant to the Select Energy Services, Inc. 2016 Equity Incentive Plan. The PSU Amendment corrects an inconsistency in the treatment of certain financial metrics impacting the numerator and the denominator used in calculating the Company’s performance metric that is applicable to the performance share units granted in 2018 and 2019.
A copy of the PSU Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The foregoing summary is qualified in its entirety by the complete terms and conditions of the PSU Amendment.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit No. |
Description | |
| 10.1 | Global Amendment to Performance Share Unit Grant Notices and Agreements | |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 24, 2020
| SELECT ENERGY SERVICES, INC. | ||
| By: | /s/ Adam R. Law | |
| Adam R. Law | ||
| Senior Vice President, General Counsel & Corporate Secretary | ||