secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001104659-23-023562
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dawson Geophysical extends CEO Jumper's contract to 2026, sets base salary at $360,000, retention payment of $385,082
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- Employment term extended to Feb 11, 2026, with automatic three-year rolling extensions unless either party gives 60-day notice.
- Base salary restored to $360,000 per year, effective Feb 11, 2023, after prior reduction period.
- Retention payment of $385,082 to be paid in lump sum within 30 days of Feb 11, 2023, subject to continuous employment.
- CEO waives change-of-control severance rights related to the Wilks Brothers merger and agrees it does not constitute a change of control.
- Severance after Feb 11, 2024: 12 months base salary plus prorated target performance bonus, subject to release and four-month employment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000110465923023562/0001104659-23-023562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000110465923023562/tm237342d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-023562

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