---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-122824"
form_type: "8-K"
ticker: "DWSN"
cik: "0000799165"
company_name: "DAWSON GEOPHYSICAL CO"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:41:55.146024+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Dawson Geophysical finalizes separation agreements with CEO, CFO, COO

## Summary
- CEO Stephen Jumper, CFO James Brata, and COO C. Ray Tobias terminated; effective Dec 20, 2023; responsibilities ceased Nov 20.
- Base salary continuation: Brata and Tobias through Feb 11, 2025; Jumper through Dec 20, 2025.
- Tobias receives $456,667 salary continuation, $27,259 COBRA lump sum, and company vehicle (2023 Ford F-150) transfer.
- Executives reaffirm confidentiality, non-compete, non-solicitation covenants and grant general release of claims.
- Company to pay club membership dues for Jumper for 24 months post-termination.

## SEC filing metadata
- accession: 0001104659-23-122824
- form_type: 8-K
- ticker: DWSN
- cik: 0000799165
- company_name: DAWSON GEOPHYSICAL CO
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/799165/000110465923122824/0001104659-23-122824-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/799165/000110465923122824/tm2331890d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-122824
- JSON: https://secwatch.observer/filing/0001104659-23-122824.json
- Plain text: https://secwatch.observer/filing/0001104659-23-122824.txt

## Key facts
- Executive change
  C. Ray Tobias was terminated as Chief Operating Officer at DAWSON GEOPHYSICAL CO.
  - Action: terminated
  - Role: Chief Operating Officer
  source text: it was determined by the Board of Directors of Dawson Geophysical Company (the “Company”) that the employment of (i) James K. Brata, the Company’s Chief Financial Officer, Executive Vice President, Secretary and Treasurer; (ii) Stephen C. Jumper, the Company’s President and Chief Executive Officer; and (iii) C. Ray Tobias, the Company’s Chief Operating Officer and Executive Vice President would terminate (the “Terminations”) on December 20, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/799165/000110465923122824/0001104659-23-122824-index.htm
- Executive change
  Stephen C. Jumper was terminated as President and Chief Executive Officer at DAWSON GEOPHYSICAL CO.
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: it was determined by the Board of Directors of Dawson Geophysical Company (the “Company”) that the employment of (i) James K. Brata, the Company’s Chief Financial Officer, Executive Vice President, Secretary and Treasurer; (ii) Stephen C. Jumper, the Company’s President and Chief Executive Officer; and (iii) C. Ray Tobias, the Company’s Chief Operating Officer and Executive Vice President would terminate (the “Terminations”) on December 20, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/799165/000110465923122824/0001104659-23-122824-index.htm
- Executive change
  James K. Brata was terminated as Chief Financial Officer at DAWSON GEOPHYSICAL CO.
  - Action: terminated
  - Role: Chief Financial Officer
  source text: it was determined by the Board of Directors of Dawson Geophysical Company (the “Company”) that the employment of (i) James K. Brata, the Company’s Chief Financial Officer, Executive Vice President, Secretary and Treasurer; (ii) Stephen C. Jumper, the Company’s President and Chief Executive Officer; and (iii) C. Ray Tobias, the Company’s Chief Operating Officer and Executive Vice President would terminate (the “Terminations”) on December 20, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/799165/000110465923122824/0001104659-23-122824-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.