RPC announces leadership transition: Hubbell to Executive Chairman, Palmer named CEO

RPC INC

Richard A. Hubbell moves from CEO to Executive Chairman of Board for one-year term; Gary W. Rollins resigns as Non-Executive Chairman but remains director.
Ben M. Palmer promoted to President and CEO, elected Class I director; also appointed CEO of Marine Products Corporation.
Michael L. Schmit appointed VP, CFO and Corporate Secretary; annual base salary $300,000 and 35,000 restricted stock award.
Hubbell base salary $500,000, eligible for cash incentive up to 150% target on ROIC; 75,000 restricted stock award.
Palmer base salary $600,000, eligible for cash incentive up to 150% target on ROIC; 90,000 restricted stock award.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Gary W. Rollins

Non-Executive Chairman

RES · RPC INC

Effective: 2022-05-17
Successor: Richard A. Hubbell
Filed: May 20, 2022, 7:59 PM ET

Gary W. Rollins, who served as Non-Executive Chairman following the passing of Mr. R. Randall Rollins, resigned from that position on the Effective Date, but remains on the Board.

Role change

Richard A. Hubbell

Executive Chairman of the Board

RES · RPC INC

Effective: 2022-05-17
Successor: Ben M. Palmer
Filed: May 20, 2022, 7:59 PM ET

Richard A. Hubbell was appointed to serve as Executive Chairman of the Board for a period of one year or until his successor is appointed, effective upon the resignation of Gary W. Rollins as Non-Executive Chairman of the Board.

Role change

Ben M. Palmer

President and Chief Executive Officer

RES · RPC INC

Effective: 2022-05-17
Filed: May 20, 2022, 7:59 PM ET

Ben M. Palmer was appointed to serve as President and Chief Executive Officer of the Company for a period of one year or until his successor is appointed, effective upon the resignation of Mr. Hubbell from that position, which occurred on the Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gary W. Rollins resigned as Non-Executive Chairman at RPC INC.

Action: resigned
Role: Non-Executive Chairman

Exact text from the filing

Gary W. Rollins, who served as Non-Executive Chairman following the passing of Mr. R. Randall Rollins, resigned from that position on the Effective Date, but remains on the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Richard A. Hubbell was appointed as Executive Chairman of the Board at RPC INC.

Action: appointed
Role: Executive Chairman of the Board

Exact text from the filing

Richard A. Hubbell was appointed to serve as Executive Chairman of the Board for a period of one year or until his successor is appointed, effective upon the resignation of Gary W. Rollins as Non-Executive Chairman of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ben M. Palmer changed role as President and Chief Executive Officer at RPC INC.

Action: promoted
Role: President and Chief Executive Officer

Exact text from the filing

Ben M. Palmer was appointed to serve as President and Chief Executive Officer of the Company for a period of one year or until his successor is appointed, effective upon the resignation of Mr. Hubbell from that position, which occurred on the Effective Date.

View on SEC.gov

RPC INC filing history →

Source: SEC EDGAR

accession 0001104659-22-063482

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