Mammoth’s annual meeting to be “in person”
Oklahoma City-based Mammoth Energy Services, Inc. is planning to hold an in-person annual stockholders meeting July 2 in the city and elect five directors including one new nominee.
“We intend to hold our annual meeting in person. However, we are actively monitoring the public health, travel and business and social gathering concerns of our stockholders and employees in light of COVID-19 (Coronavirus),” stated the company in a filing of a proxy statement with the Securities and Exchange Commission.
“We plan on taking any necessary and appropriate precautions with respect to attendance at and admission to our annual meeting. We may also determine it to be necessary or appropriate to hold a virtual annual meeting of stockholders by means of remote communication or postpone the annual meeting.”
Five directors have been nominated for election including chairman Arthur Amron who joined the board in January 2019 and became chairman in June of that year. He is a partner at Wexford Capital LP and serves as its General Counsel.
Another nominee is Arty Straehla who has been Mammoth’s Chief Executive Officer and a member of the board since the company was founded in 2016. He previously spent 26 years with the Goodyear Tire and Rubber Co.
A third nominee is James Palm who has been on the board since June 2017. He also served as a director of Gulfport Energy Corporation and previously was CEO of Gulfport until his retirement in 2014. Palm also once was the President of the former Oklahoma Independent Petroleum Association.
The fourth nominee is Arthur Smith who has been a director of the company since 2016. He is the founder of Triple Double Advisors, LLC an investment advisory firm focusing on the energy industry.
The fifth and final nominee is Paul Jacobi who agreed to be nominated to become a director. Since 1996, he has served in various positions at Wexford and is a managing director of the firm.
Shareholders will also decide on the company’s executive compensation and vote on an amendment to Mammoth’s 2016 Equity Incentive plan to increase the maximum aggregate number of shares included in awards that may be granted to an individual plan participating in a calendar year.
Shareholders will also decide whether to ratify the appointment of Grant Thornton LLP as the Company’s independent auditors for the fiscal year ending December 31, 2020.
Source: SEC filing by Mammoth Energy Services