Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2020, Adams Resources & Energy, Inc. (the "Company"), a Delaware
corporation, issued a
press release announcing the promotion of Wade Harrison to President of Service
Transport Company ("Service Transport"), a wholly owned subsidiary of the
Company effective January 20, 2020. Kevin J. Roycraft has resigned his position
as President of Service Transport, and remains Chief Executive Officer and
President of Adams, as well as Interim President of GulfMark Energy, Inc., the
Company's other wholly owned subsidiary.
Mr. Harrison, age 45, joined Service Transport in August 2018 as Vice President
of Sales and has 17 years of experience in transportation and logistics
operations, management and leadership. Prior to joining Service Transport, Mr.
Harrison was with Groendyke Transport, Inc. from January 2010 to August 2018,
where he held positions of increasing responsibility, which culminated in his
role as Vice President of Gulf Coast Operations. He began his career in
transportation and logistics in 2003 with CTL Distribution Logistics, LLC, where
he most recently served as Vice President of National Accounts. Mr. Harrison
holds a Bachelor of Business Administration degree in Marketing from Sam Houston
State University.
Mr. Harrison will have a base annual salary of $230,000 and will be eligible for
an annual bonus at the discretion of the Compensation Committee of the Board of
Directors based upon performance. He will also be eligible to receive an annual
equity grant under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive
Plan, subject to the discretion of the Compensation Committee of the Board of
Directors.
A copy of the news release is furnished as Exhibit 99.1 to this report and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Press release of Adams Resources & Energy, Inc. issued January
99.1 2 1 , 20 20 .
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