Item 8.01 Other Events.
On November 22, 2021, ProPetro Holding Corp. (the "Company") announced that it
has entered into a settlement with the U.S. Securities and Exchange Commission
(the "SEC"), resolving the previously disclosed SEC investigation relating to
the Company. Under the terms of the settlement, the Company, without admitting
or denying the findings in the administrative order issued by the SEC, has
agreed to cease and desist from violations of specified provisions of the
federal securities laws and rules promulgated thereunder. The Company was not
required to pay any monetary penalty and has no ongoing undertakings in
connection with the settlement.
The Company fully cooperated with the SEC over the course of its investigation.
The SEC's administrative order recognizes not only the significant value of the
Company's cooperation but also the considerable remedial actions taken by the
Company to strengthen its internal policies, governance and internal control
over financial reporting and to embed those improvements into the Company's
culture. A copy of the press release announcing the settlement is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description of Exhibit
99.1 Press release, dated November 22, 2021.
104 Cover Page Interactive Data File. The cover page XBRL tags are
embedded within the inline XBRL document (contained in Exhibit 101)
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