secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0000928054-23-000063
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 802.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flotek receives NYSE notice for below-$1.00 stock price; CEO extended to June 30
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- NYSE notified Flotek on Apr 12, 2023 that avg closing price was below $1.00 for 30 consecutive trading days.
- Company has six months to cure; stock trades under symbol FTK with ".BC" designation.
- Options to regain compliance include a reverse stock split (ratio range 1:3 to 1:6) pre-approved by shareholders.
- Interim CEO Harsha V. Agadi's term extended to June 30, 2023; eligible for a one-time bonus based on performance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805423000063/0000928054-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805423000063/usgaap-20230412.htm
  HTML page:      https://secwatch.observer/filing/0000928054-23-000063

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer