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MarketScreener Homepage  >  Equities  >  Nyse MKT  >  Adams Resources & Energy Inc    AE

ADAMS RESOURCES & ENERGY INC

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ADAMS RESOURCES & ENERGY, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

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01/21/2020 | 08:42am EST

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    .



                                       2

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© Edgar Online, source Glimpses

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