Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Superior Energy Services, Inc. (the "Company") announced today its board of
directors has appointed James Spexarth to serve as the Company's Executive Vice
President, Chief Financial Officer and Treasurer, effective August 19, 2021.
Mr. Spexarth has been serving as interim Chief Financial Officer since March 18,
2021 following the resignation of the previous Chief Financial Officer,
Westervelt Ballard, as was reported in the Form 8-K Report filed by the Company
on March 22, 2021, as amended on April 29, 2021 (the "Original 8-K").
Mr. Spexarth, 54, has been employed by the Company for 8 years and also served
as the Company's Chief Accounting Officer and previously served as vice
president and corporate controller.
In connection with Mr. Spexarth being named Executive Vice President, Chief
Financial Officer and Treasurer, the Company has, effective August 19, 2021,
increased his annual cash base salary by $146,500, resulting in an annual cash
base salary of $425,000.
A copy of Company's news release announcing Mr. Spexarth's appointment is being
filed as Exhibit 99.1 to this Current Report on Form 8-K.
Additional disclosure regarding Mr. Spexarth's positions with the Company,
business experience and certain biographical and related information is set
forth in the Original 8-K and the Company's Form 10-K for the fiscal year ended
December 31, 2020 filed on March 26, 2021, which information is incorporated by
reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Exhibit Description
99.1 Press Release, dated August 24, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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