Management ChangeMay 22, 2026, 04:07 PM
Nine Energy Service Appoints Heather Schmidt as Permanent CFO
AI Summary
Nine Energy Service, Inc. has appointed Heather Schmidt as its permanent Chief Financial Officer and principal financial officer, effective May 22, 2026. Ms. Schmidt, who previously served as Interim CFO, joined the company in 2012 and has held various senior roles. In connection with her appointment, she entered into an Amended and Restated Employment Agreement, which includes a base salary of $425,000, a target annual bonus of 75% of her base salary, and long-term incentive awards totaling $600,000 in target value, comprising RSUs and a performance-based cash award. The agreement also outlines severance protections for certain involuntary terminations.
Key Highlights
- Heather Schmidt appointed permanent Chief Financial Officer of Nine Energy Service, effective May 22, 2026.
- Ms. Schmidt's base salary set at $425,000 annually.
- Target annual bonus opportunity equal to 75% of base salary.
- Received a stock-settled time-based restricted stock unit (RSU) award with a target value of $300,000, vesting over three years.
- Received a performance-based cash award with a target value of $300,000, based on relative total shareholder return (TSR).
- Employment agreement includes severance provisions for qualifying terminations, including a prorated annual bonus and COBRA reimbursement.
- Severance multiple increases to two times salary and target bonus if termination occurs within 24 months of a change in control.
Price Impact
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