On December 31, 2020, the Board of Directors of Pioneer Energy Services Corp. appointed Matthew S. Porter as the Company's President and Chief Executive Officer. Mr. Porter, previously served as the Company’s Interim Chief Executive Officer from July 17, 2020 to December 31, 2020. He has served on the Board since May 29, 2020. He is a founding partner at Activos, LLC. From August 2016 to September 2018, he was the chief executive officer, president and a director at Xtreme Drilling Corp., where he previously served as president and chief financial officer from April 2015 to August 2016 and as chief financial officer from August 2011 to April 2015. Prior to that, he served as the chief financial officer at Bronco Drilling Company from January 2010 to June 2011. Mr. Porter will continue to serve as a director on the Board but as of January 1, 2021 he is no longer eligible for the separate Board fee although he will retain the earned deferred fee portion for his 2020 Board service, as previously disclosed, so long as he meets the requisite conditions for payment.