secwatch.observer — SEC 8-K summary
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Issuer:     NATURAL GAS SERVICES GROUP INC (NGS)
CIK:        0001084991
Form:       8-K
Filed at:   2022-12-28T23:59:59+00:00
Accession:  0001084991-22-000134
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

John W. Chisholm retires as director; receives $110K cash, 25,000 option, and accelerated equity vesting
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- Chisholm resigned as employee on Nov 11, 2022; retired from board effective Dec 28, 2022; no disagreement.
- Severance: $110K cash, 25,000-share option at $17.00 (expires Nov 2025), 16,935 restricted shares vest immediately.
- Accelerates 4,212 restricted shares and $50K cash award; retains vested option for 25,000 shares at $15.00.
- 24-month US non-compete covering natural gas compressor and flare systems business.
- Unvested options for 150,000 shares are forfeited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1084991/000108499122000134/0001084991-22-000134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1084991/000108499122000134/ngs-20221221.htm
  HTML page:      https://secwatch.observer/filing/0001084991-22-000134

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