Stabilis Solutions CEO Westervelt Ballard departs; Executive Chairman Casey Crenshaw named interim CEO

Stabilis Solutions, Inc.

CEO Ballard departed Jan 31, 2025 by mutual agreement; will consult through Dec 31, 2025.
Crenshaw, co-founder and chairman, named interim CEO; board to search for permanent CEO.
Ballard receives $1M severance, prorated bonus $41k, $48.6k/month consulting fee, and immediate vesting of equity.
Crenshaw receives $500k annual cash as Executive Chairman; no additional compensation for interim CEO role.
Non-compete and non-solicit covenants extended to Dec 31, 2026 for Ballard.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed (interim)

J. Casey Crenshaw

Executive Chairman and interim President and Chief Executive Officer

SLNG · Stabilis Solutions, Inc.

Effective: 2025-01-31
Filed: February 3, 2025, 6:59 PM ET

Stabilis Solutions, Inc. (the “Company”) announced that it has appointed the Company’s Chairman of the Board, J. Casey Crenshaw, age 50, as its Executive Chairman, and interim President and Chief Executive Officer, effective January 31, 2025.

Departed

Westervelt T. Ballard, Jr.

President and Chief Executive Officer

SLNG · Stabilis Solutions, Inc.

Effective: 2025-01-31
Successor: J. Casey Crenshaw
Filed: February 3, 2025, 6:59 PM ET

Mr. Crenshaw will replace Westervelt T. “Westy” Ballard, Jr., who has mutually agreed with the Company to terminate his employment as the Company’s President and Chief Executive Officer and to resign his position as a director.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

J. Casey Crenshaw was appointed as Executive Chairman and interim President and Chief Executive Officer at Stabilis Solutions, Inc..

Action: appointed
Role: Executive Chairman and interim President and Chief Executive Officer

Exact text from the filing

Stabilis Solutions, Inc. (the “Company”) announced that it has appointed the Company’s Chairman of the Board, J. Casey Crenshaw, age 50, as its Executive Chairman, and interim President and Chief Executive Officer, effective January 31, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Westervelt T. Ballard, Jr. resigned as President and Chief Executive Officer at Stabilis Solutions, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Crenshaw will replace Westervelt T. “Westy” Ballard, Jr., who has mutually agreed with the Company to terminate his employment as the Company’s President and Chief Executive Officer and to resign his position as a director.

View on SEC.gov

Stabilis Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-25-002592

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