CEO Stephen Taylor retires; John Chisholm named interim CEO effective May 17, 2022

NATURAL GAS SERVICES GROUP INC

Stephen C. Taylor retires as President/CEO after 17 years; remains Chairman and advisor through June 2023.
John W. Chisholm, former lead independent director, appointed interim President and CEO.
David L. Bradshaw appointed lead independent director during Chisholm's service.
Retirement agreement includes $51k/month salary, $612k bonus, $612k LTI award, plus potential $2.754M cash and $100k stock upon full transition.
Taylor will continue as Chairman and assist in transition, remains a significant shareholder.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed (interim)

John W. Chisholm

interim President and Chief Executive Officer

NGS · NATURAL GAS SERVICES GROUP INC

Effective: 2022-05-17
Filed: May 19, 2022, 7:59 PM ET

On May 17, 2022, the Board of Directors appointed John W. Chisholm, the lead independent director of the Company’s Board immediately prior to his appointment, as the interim President and Chief Executive Officer.

Departed

Stephen C. Taylor

Chief Executive Officer and President

NGS · NATURAL GAS SERVICES GROUP INC

Effective: 2022-05-17
Successor: John W. Chisholm
Filed: May 19, 2022, 7:59 PM ET

On May 17, 2022, the Company and Mr. Taylor entered into a negotiated Retirement Agreement (the “Retirement Agreement”), pursuant to which Mr. Taylor resigned as Chief Executive Officer and President of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John W. Chisholm was appointed as interim President and Chief Executive Officer at NATURAL GAS SERVICES GROUP INC.

Action: appointed
Role: interim President and Chief Executive Officer

Exact text from the filing

On May 17, 2022, the Board of Directors appointed John W. Chisholm, the lead independent director of the Company’s Board immediately prior to his appointment, as the interim President and Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen C. Taylor resigned as Chief Executive Officer and President at NATURAL GAS SERVICES GROUP INC.

Action: resigned
Role: Chief Executive Officer and President

Exact text from the filing

On May 17, 2022, the Company and Mr. Taylor entered into a negotiated Retirement Agreement (the “Retirement Agreement”), pursuant to which Mr. Taylor resigned as Chief Executive Officer and President of the Company.

View on SEC.gov

NATURAL GAS SERVICES GROUP INC filing history →

Source: SEC EDGAR

accession 0001084991-22-000056

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