Superior Energy amends Stockholders Agreement; board size reduced to 6-7, fewer designated directors

SUPERIOR ENERGY SERVICES INC

Sixth Amendment to Stockholders Agreement effective March 15, 2024 reduces board size from fixed 7 to range of 6-7.
Majority Directors reduced to as few as two; no longer requires CEO or designees from Goldentree and Monarch.
Previously required three Majority Directors, one CEO, two Goldentree, one Monarch designees.
Annual Meeting set for May 8, 2024; proxy statement to be mailed around March 22.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SUPERIOR ENERGY SERVICES INC amended Sixth Amendment to the Stockholders Agreement with stockholders holding a majority of the Company’s common stock (effective 2024-03-15).

Action: amendment
Counterparty: stockholders holding a majority of the Company’s common stock
Effective: 2024-03-15

Exact text from the filing

Superior Energy Services, Inc. (the “Company’) and stockholders holding a majority of the Company’s common stock entered into a sixth amendment to the Stockholders Agreement, dated as of February 2, 2021, by and among the Company and its stockholders (the “Sixth Amendment to the Stockholders Agreement”), effective as of March 15, 2024

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Source: SEC EDGAR

accession 0000950170-24-034229

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