secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2022-05-20T23:59:59+00:00
Accession:  0001104659-22-063482
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000110465922063482/0001104659-22-063482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000110465922063482/tm2216222d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-063482

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