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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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Realignment of Corporate Officer Structure
Effective April 1, 2020 (the “Effective Date”), Select Energy Services, Inc. (the “Company”) decided to realign leadership responsibilities relating to certain of its business segments. As of the Effective Date, Mitchell Shauf will act as the Executive Vice President, Water Solutions, and will oversee the Company’s Water Services and Water Infrastructure business segments, and Michael Skarke will act as the Executive Vice President, Corporate Development, Sales and Operational Support, and will oversee the support functions relating to all of the Company’s business segments. Prior to the Effective Date, Mr. Shauf served as Executive Vice President, Water Services, and Mr. Skarke served as Executive Vice President, Water Infrastructure. For an explanation of the business experience of Messrs. Shauf and Skarke, please see their respective biographies as disclosed in the Company’s definitive proxy statement for the 2020 annual meeting of stockholders filed with the Securities and Exchange Commission on March 27, 2020.
There are no family relationships between Mr. Shauf or Mr. Skarke and any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There are no arrangements or understandings between Mr. Shauf or Mr. Skarke and any other persons pursuant to which such individual was selected in their new position.
| Item 7.01. | Regulation FD Disclosure. |
On March 31, 2020, the Company issued a press release announcing operational updates and strategic actions in response to current market conditions. A copy of the Company’s press release covering such announcement and certain other matters is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 7.01 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filings made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit No. |
Description | |
| 99.1 | Press Release dated March 31, 2020 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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: April 3, 2020
| SELECT ENERGY SERVICES, INC. | ||
| By: | /s/ Adam R. Law | |
| Adam R. Law | ||
| Senior Vice President, General Counsel & Corporate | ||
| Secretary | ||