Nine Energy Service, Inc.

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.

Nine Energy Service, Inc. announced that its Board of Directors approved the 2026 Long-Term Incentive Plan on May 11, 2026. This plan reserves 1,394,999 shares of common stock, representing 10% of outstanding shares, to attract and retain employees, directors, and consultants following the company's emergence from Chapter 11 bankruptcy. The plan includes various award types such as stock options, restricted stock units, and performance awards, and sets a $900,000 annual compensation limit for non-employee directors.

Nine Energy Service, Inc. successfully emerged from Chapter 11 bankruptcy on March 5, 2026, implementing a prepackaged plan of reorganization and applying fresh start accounting. This restructuring led to the cancellation of all prior equity and the issuance of new common stock to former noteholders, significantly reducing the company's debt obligations and improving its equity position. For the period from January 1 to March 5, 2026 (Predecessor), the company reported a net income of $107,879 thousand, largely due to reorganization items. Following the emergence, the Successor entity reported a net loss of $(1,253) thousand for the period from March 6 to March 31, 2026, on revenues of $41,603 thousand.

Nine Energy Service reported its first quarter 2026 results, which were split into predecessor (January 1 - March 5, 2026) and successor (March 6 - March 31, 2026) periods due to the company's emergence from Chapter 11 and implementation of fresh start accounting. For the predecessor period, revenue was $88.4 million with net income of $107.9 million, while the successor period saw revenue of $41.6 million and a net loss of $(1.3) million. The company anticipates significant sequential improvement in the second quarter, projecting revenue between $136 million and $146 million and adjusted EBITDA of $10.0 million to $15.0 million. Nine also noted total liquidity of $46.9 million as of March 31, 2026, and a milestone of over 500,000 ScorpionTM Composite Plugs sold.

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.

Nine Energy Service, Inc. emerged from Chapter 11 bankruptcy on March 5, 2026, leading to a reconstituted Board of Directors. The filing also details executive compensation for 2025, including significant retention bonuses paid to named executive officers, and announces the resignation of CFO Guy Sirkes, effective May 11, 2026. Unvested equity awards were forfeited due to the bankruptcy proceedings.

Nine Energy Service, Inc. announced that Guy Sirkes will resign from his position as Executive Vice President and Chief Financial Officer, effective May 11, 2026, to accept a role at another company. Concurrently, Heather Schmidt will be appointed as the company's Interim Chief Financial Officer on the same date. Ms. Schmidt has been with the company since 2012, most recently serving as Senior Vice President of Strategic Development and Investor Relations, bringing extensive experience in strategic development, M&A, and investor communications.

Nine Energy Service, Inc. filed its final monthly operating reports with the U.S. Bankruptcy Court for the Southern District of Texas on April 21, 2026. These reports cover the company's financial condition and operations as of March 4, 2026, and for the period from March 1 to March 4, 2026. This filing fulfills a requirement of its Chapter 11 cases, from which the company had previously emerged on March 5, 2026, following the confirmation of its prepackaged reorganization plan.