Corporate GovernanceApr 28, 2026, 04:39 PM
NINE Emerges from Bankruptcy; New Board; CFO Sirkes Resigns
AI Summary
Nine Energy Service, Inc. announced its emergence from Chapter 11 bankruptcy on March 5, 2026, and the appointment of a new Board of Directors, including J. Carney Hawks as Chairman. The company also disclosed that Guy Sirkes, Executive Vice President and Chief Financial Officer, will resign effective May 11, 2026. The filing provides detailed executive compensation for 2025 and 2024, noting the payment of retention bonuses and the forfeiture of unvested equity awards due to the bankruptcy proceedings. This amendment to the 10-K includes previously omitted Part III information and updated certifications.
Key Highlights
- Nine Energy Service, Inc. emerged from Chapter 11 bankruptcy on March 5, 2026.
- A new Board of Directors was appointed, with J. Carney Hawks serving as Chairman.
- Guy Sirkes, Executive Vice President and CFO, notified his resignation effective May 11, 2026.
- Ann G. Fox's total compensation for 2025 was $3,308,812.
- David Crombie's total compensation for 2025 was $1,816,486.
- Guy Sirkes' total compensation for 2025 was $1,501,834.
- Unvested restricted stock and time-based cash awards for executives were forfeited/cancelled due to bankruptcy.
- Retention bonuses were paid to Named Executive Officers in November 2025.
Price Impact
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