| Proposal 1 — Election of members of the Board. | | | The plurality of the votes cast. This means that the eight nominees receiving the highest number of affirmative “FOR” votes will be elected as directors. | |
| Proposal 2 — Approval on an advisory basis of our named executive officers’ compensation. | | | The affirmative “FOR” vote of the holders of a majority of the shares represented at the meeting, online or by proxy, and entitled to vote. | |
| Proposal 3 — Ratification of appointment of independent registered public accounting firm. | | | The affirmative “FOR” vote of the holders of a majority of the shares represented at the meeting, online or by proxy, and entitled to vote. | |
Name
|
| |
Age
|
| |
Position with ProPetro
Holding Corp. |
| |
Director
Since |
| |
Nominating
and Corporate Governance Committee |
| |
Audit
Committee |
| |
Compensation
Committee |
|
Phillip A. Gobe | | | 68 | | |
Chief Executive Officer
and Chairman of the Board |
| | 2019 | | | | | | | | | | |
Spencer D. Armour III | | | 67 | | | Director | | | 2013 | | |
Member
|
| | | | | | |
Mark S. Berg | | | 62 | | | Director | | | 2019 | | | | | | | | | | |
Anthony J. Best(4) | | | 71 | | |
Lead Independent Director
|
| | 2018 | | | | | |
Chair
|
| |
Member
|
|
Michele V. Choka(5) | | | 61 | | | Director | | | 2020 | | |
Member
|
| | | | |
Chair
|
|
Alan E. Douglas | | | 62 | | | Director | | | 2017 | | |
Member
|
| |
Member
|
| | | |
G. Larry Lawrence | | | 69 | | | Director | | | 2020 | | | | | |
Member
|
| | | |
Jack B. Moore(6) | | | 67 | | | Director | | | 2017 | | |
Chair
|
| | | | |
Member
|
|
Name
|
| |
Fees Earned or
Paid in Cash ($)(1) |
| |
Stock Awards
($)(2) |
| |
Total
($) |
| |||||||||
Spencer D. Armour III
|
| | | | 64,094 | | | | | | 118,996 | | | | | | 183,090 | | |
Mark S. Berg(3)
|
| | | | — | | | | | | — | | | | | | — | | |
Anthony J. Best
|
| | | | 98,914 | | | | | | 118,996 | | | | | | 217,910 | | |
Pryor Blackwell
|
| | | | 41,090 | | | | | | 118,996 | | | | | | 160,086 | | |
Alan E. Douglas
|
| | | | 64,094 | | | | | | 118,996 | | | | | | 183,090 | | |
Jack B. Moore
|
| | | | 74,094 | | | | | | 118,996 | | | | | | 193,090 | | |
Michele V. Choka
|
| | | | 65,306 | | | | | | 170,005 | | | | | | 235,311 | | |
G. Larry Lawrence
|
| | | | 2,853 | | | | | | 118,518 | | | | | | 121,371 | | |
Name
|
| |
Aggregate Number
of Stock Awards (#) |
| |
Aggregate
Number of Stock Option Awards (#) |
| ||||||
Spencer D. Armour III
|
| | | | 32,336 | | | | | | 592,774 | | |
Mark S. Berg
|
| | | | — | | | | | | — | | |
Anthony J. Best
|
| | | | 32,336 | | | | | | — | | |
Pryor Blackwell(a)
|
| | | | — | | | | | | — | | |
Alan E. Douglas
|
| | | | 32,336 | | | | | | — | | |
Jack B. Moore
|
| | | | 32,336 | | | | | | — | | |
Michele V. Choka
|
| | | | 32,336 | | | | | | — | | |
G. Larry Lawrence
|
| | | | 15,392 | | | | | | — | | |
| | |
Year Ended December 31,
|
| |||||||||
| | |
2020
|
| |
2019
|
| ||||||
Audit Fees(1)
|
| | | $ | 3,631,940 | | | | | $ | 2,842,660 | | |
Audit-Related Fees(2)
|
| | | | — | | | | | | 2,960,884 | | |
All Other Fees(3)
|
| | | | 140,665 | | | | | | 204,621 | | |
Total Fees
|
| | | $ | 3,772,605 | | | | | $ | 6,008,165 | | |
| Phillip A. Gobe(1) | | | Chief Executive Officer | |
| Dale Redman(2) | | | Former Chief Executive Officer | |
| Darin G. Holderness(3) | | | Former Chief Financial Officer | |
| David S. Schorlemer(4) | | | Chief Financial Officer | |
| Jeffrey D. Smith(5) | | | Former Chief Administrative Officer | |
| David Sledge(6) | | | Former Chief Operating Officer | |
| Adam Muñoz(7) | | | Chief Operating Officer | |
| Newton W. “Trey” Wilson III | | | General Counsel and Corporate Secretary | |
| Apergy Corporation(1) | | | Helmerich & Payne, Inc. | | | Oil States International, Inc. | | | U.S. Silica Holdings. Inc. | |
| Calfrac Well Services Ltd. | | | Liberty Oilfield Services Inc. | | | Patterson-UTI Energy, Inc. | | | | |
| Covia Holdings Corporation | | | Nabors Industries Ltd. | | |
Precision Drilling Corporation
|
| | | |
| Ensign Energy Services Inc. | | |
NexTier Oilfield Solutions Inc.
|
| | RPC, Inc. | | | | |
| | |
December 2019
Base Salary |
| |
December 2020
Base Salary |
| ||||||
Phillip A. Gobe(1)
|
| | | $ | 450,000 | | | | | $ | 800,000 | | |
Dale Redman(2)
|
| | | $ | 700,000 | | | | | | N/A | | |
Darin G. Holderness(3)
|
| | | $ | 500,000 | | | | | | N/A | | |
David S. Schorlemer(4)
|
| | | | N/A | | | | | $ | 450,000 | | |
Jeffrey D. Smith(5)
|
| | | $ | 425,000 | | | | | $ | 425,000 | | |
David Sledge
|
| | | $ | 425,000 | | | | | $ | 425,000 | | |
Adam Muñoz(6)
|
| | | $ | 375,000 | | | | | $ | 425,000 | | |
Newton W. “Trey” Wilson III
|
| | | $ | 400,000 | | | | | $ | 400,000 | | |
| | |
Final 2020 Target
Bonus Award Opportunity |
| |||
Phillip A. Gobe
|
| | | | 100% | | |
Dale Redman
|
| | | | 110% | | |
Darin G. Holderness
|
| | | | 75% | | |
David S. Schorlemer(1)
|
| | | | 80% | | |
Jeffrey D. Smith
|
| | | | N/A | | |
David Sledge
|
| | | | 100% | | |
Adam Muñoz
|
| | | | 100% | | |
Newton W. “Trey” Wilson III
|
| | | | 75% | | |
Performance Level
|
| |
Payout (as a % of
Target Bonus) |
| |||
Threshold
|
| | | | 50% | | |
Target
|
| | | | 100% | | |
Maximum
|
| | | | 200% | | |
Measure
|
| |
Weighting
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Actual 2020
Performance |
| |
Payout as a
Percentage of Target Bonus(1) |
| |||||||||||||||
Quantitative Measures | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted EBITDA per
Share(2) |
| | | | 60% | | | | | $ | 3.01 | | | | | $ | 3.69 | | | | | $ | 4.11 | | | | | $ | 1.40 | | | |
0%
|
|
Safety-Total Recordable Incident Rate
(TRIR) |
| | | | 20% | | | | | | 1.1 | | | | | | 0.9 | | | | | | 0.75 | | | | | | 0.49 | | | |
40%
|
|
Quantitative Total
|
| | | | 80% | | | | | | | | | | | | | | | | | | | | | | | | | | | |
40%
|
|
Qualitative Measure(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individual and Operational Performance
|
| | | | 20% | | | | | | | | | | | | | | | | | | | | | | | | | | | |
34 – 40%
|
|
Discretionary Increase(4)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
0 – 26%
|
|
Overall Total
|
| | | | 100% | | | | | | | | | | | | | | | | | | | | | | | | | | | |
74 – 106%
|
|
| | |
Final 2020 Target
Bonus Award Opportunity as a Percentage of Base Salary |
| |
Value of Final
2020 Target Bonus Award Opportunity |
| |
Actual Payout as
a Percentage of Target Bonus |
| |
Value of Actual
2020 Annual Bonus |
| ||||||||||||
Phillip A. Gobe
|
| | | | 100% | | | | | $ | 800,000 | | | | | | 74% | | | | | $ | 595,925 | | |
David S. Schorlemer(1)
|
| | | | 80% | | | | | $ | 79,200 | | | | | | 74% | | | | | $ | 59,348 | | |
Adam Muñoz
|
| | | | 100% | | | | | $ | 425,000 | | | | | | 74% | | | | | $ | 316,585 | | |
Newton W. “Trey” Wilson III(2)
|
| | | | 75% | | | | | $ | 300,000 | | | | | | 106% | | | | | $ | 319,102 | | |
Company’s Percentile Rank in Peer Group
|
| |
Payout (as a % of Target
Number of PSUs Granted) |
| |
Payout (as a % of Target
Number of PSUs Granted) if TSR is Below Zero |
| ||||||
Below 25th Percentile
|
| | | | 0% | | | | | | 0% | | |
25th Percentile
|
| | | | 50% | | | | | | 50% | | |
50th Percentile
|
| | | | 100% | | | | | | 100% | | |
75th Percentile
|
| | | | 175% | | | | | | 100% | | |
90th Percentile and Above
|
| | | | 200% | | | | | | 100% | | |
Name
|
| |
Number
of RSUs Granted in 2020 |
| |
Value of
RSUs Granted in 2020(4) |
| |
Target
Number of PSUs Granted in 2020 |
| |
Value of
PSUs Granted in 2020(4) |
| ||||||||||||
Phillip A. Gobe
|
| | | | 275,839 | | | | | $ | 1,279,995 | | | | | | 413,758 | | | | | $ | 2,528,726 | | |
Dale Redman(1)
|
| | | | 83,594 | | | | | $ | 799,995 | | | | | | 125,391 | | | | | $ | 1,680,239 | | |
Darin G. Holderness(2)
|
| | | | 41,797 | | | | | $ | 399,997 | | | | | | 62,695 | | | | | $ | 840,113 | | |
David S. Schorlemer
|
| | | | 27,210 | | | | | $ | 119,996 | | | | | | 40,816 | | | | | $ | 267,753 | | |
Jeffrey D. Smith
|
| | | | 31,347 | | | | | $ | 299,991 | | | | | | 47,021 | | | | | $ | 630,081 | | |
David Sledge(3)
|
| | | | 37,617 | | | | | $ | 359,995 | | | | | | 56,426 | | | | | $ | 756,108 | | |
Adam Muñoz
|
| | | | 46,914 | | | | | $ | 263,547 | | | | | | 70,372 | | | | | $ | 531,764 | | |
Newton W. “Trey” Wilson III
|
| | | | 22,988 | | | | | $ | 219,995 | | | | | | 34,482 | | | | | $ | 462,059 | | |
Name and Principal Position
|
| |
Year
|
| |
Salary(1)
($) |
| |
Bonus(2)
($) |
| |
Stock
Awards(3) ($) |
| |
Option
Awards(3) ($) |
| |
Non Equity
Incentive Plan Compensation(4) ($) |
| |
All Other
Compensation(5) ($) |
| |
Total
($) |
| ||||||||||||||||||||||||
Phillip A. Gobe(6)
Chief Executive Officer |
| | | | 2020 | | | | | | 675,632 | | | | | | — | | | | | | 3,808,721 | | | | | | — | | | | | | 595,925 | | | | | | 15,450 | | | | | | 5,095,728 | | |
| | | 2019 | | | | | | 142,078 | | | | | | 32,000 | | | | | | 422,370(9) | | | | | | — | | | | | | 118,000 | | | | | | — | | | | | | 714,448 | | | ||
Dale Redman(6)
Former Chief Executive Officer |
| | | | 2020 | | | | | | 199,755 | | | | | | — | | | | | | 2,480,234 | | | | | | 679,239 | | | | | | — | | | | | | 7,795 | | | | | | 3,367,023 | | |
| | | 2019 | | | | | | 700,000 | | | | | | — | | | | | | 4,975,572 | | | | | | — | | | | | | — | | | | | | 49,336 | | | | | | 5,724,908 | | | ||
| | | 2018 | | | | | | 684,615 | | | | | | — | | | | | | 3,360,534 | | | | | | — | | | | | | 1,400,000 | | | | | | 304,863 | | | | | | 5,750,012 | | | ||
Darin G. Holderness(7)
Former Chief Financial Officer |
| | | | 2020 | | | | | | 403,689 | | | | | | — | | | | | | 1,730,354 | | | | | | — | | | | | | — | | | | | | 328,593 | | | | | | 2,462,636 | | |
| | | 2019 | | | | | | 159,035 | | | | | | 35,000 | | | | | | 286,093 | | | | | | — | | | | | | 165,000 | | | | | | 20,725 | | | | | | 665,853 | | | ||
David S. Schorlemer(8)
Chief Financial Officer |
| | | | 2020 | | | | | | 101,435 | | | | | | 125,000 | | | | | | 387,749 | | | | | | — | | | | | | 59,348 | | | | | | 69,218 | | | | | | 742,750 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Jeffrey D. Smith(6)
Former Chief Administrative Officer |
| | | | 2020 | | | | | | 418,578 | | | | | | 158,293 | | | | | | 930,072 | | | | | | — | | | | | | — | | | | | | 11,400 | | | | | | 1,518,343 | | |
| | | 2019 | | | | | | 483,558 | | | | | | — | | | | | | 1,658,543 | | | | | | — | | | | | | — | | | | | | 10,800 | | | | | | 2,152,901 | | | ||
| | | 2018 | | | | | | 500,000 | | | | | | — | | | | | | 1,344,232 | | | | | | — | | | | | | 750,000 | | | | | | 22,732 | | | | | | 2,616,964 | | | ||
David Sledge
Former Chief Operating Officer |
| | | | 2020 | | | | | | 450,512 | | | | | | — | | | | | | 1,646,441 | | | | | | 1,400,783 | | | | | | — | | | | | | 339,519 | | | | | | 3,837,255 | | |
| | | 2019 | | | | | | 425,000 | | | | | | — | | | | | | 1,492,699 | | | | | | — | | | | | | 590,000 | | | | | | 10,800 | | | | | | 2,518,499 | | | ||
| | | 2018 | | | | | | 425,000 | | | | | | — | | | | | | 1,209,818 | | | | | | — | | | | | | 850,000 | | | | | | 17,887 | | | | | | 2,502,705 | | | ||
Adam Muñoz
Chief Operating Officer |
| | | | 2020 | | | | | | 407,232 | | | | | | — | | | | | | 795,311 | | | | | | — | | | | | | 316,585 | | | | | | 22,495 | | | | | | 1,541,623 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Newton W. “Trey” Wilson III
General Counsel and Corporate Secretary |
| | | | 2020 | | | | | | 383,242 | | | | | | 104,102 | | | | | | 682,054 | | | | | | — | | | | | | 240,000 | | | | | | 28,900 | | | | | | 1,438,298 | | |
| | | 2019 | | | | | | 96,923 | | | | | | — | | | | | | 286,093 | | | | | | — | | | | | | 120,000 | | | | | | — | | | | | | 503,016 | | | ||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Name
|
| |
Vehicle
Allowance Program ($)(a) |
| |
Contribution
to 401(k) Plan ($)(b) |
| |
Company
Vehicle Use ($)(c) |
| |
Club Dues/
Membership Fees ($)(d) |
| |
Attorney
Fees ($)(e) |
| |
Relocation,
Housing Allowance & Travel Benefits ($)(f) |
| |
Tax
Gross-up ($)(g) |
| |
2020
Annual Bonus Paid Following Termination ($)(h) |
| |
COBRA
($)(i) |
| |
Total
($) |
| ||||||||||||||||||||||||||||||
Phillip A. Gobe(j)
|
| | | | — | | | | | | 15,450 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,450 | | |
Dale Redman(j)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,795 | | | | | | 7,795 | | |
Darin G. Holderness
|
| | | | — | | | | | | — | | | | | | 10,409 | | | | | | — | | | | | | 5,366 | | | | | | 33,478 | | | | | | — | | | | | | 279,340 | | | | | | — | | | | | | 328,593 | | |
David S. Schorlemer
|
| | | | — | | | | | | — | | | | | | 211 | | | | | | 16,787 | | | | | | — | | | | | | 31,671 | | | | | | 20,549 | | | | | | — | | | | | | — | | | | | | 69,218 | | |
Jeffrey D. Smith
|
| | | | 11,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,400 | | |
David Sledge
|
| | | | 11,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,534 | | | | | | — | | | | | | — | | | | | | 316,585 | | | | | | — | | | | | | 339,519 | | |
Adam Muñoz
|
| | | | 11,400 | | | | | | 3,462 | | | | | | — | | | | | | 7,633 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,495 | | |
Newton W. “Trey” Wilson III
|
| | | | 11,400 | | | | | | 13,824 | | | | | | — | | | | | | 3,676 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,900 | | |
| | | | | | | | |
Estimated Possible Payouts Under
Non-Equity Incentive Plan Awards(1) |
| |
Estimated Future Payouts Under
Equity Incentive Plan Awards(2) |
| |
All Other
Stock Awards: Number of Shares of Stock |
| |
Grant Date Fair Value of
Stock and Option Awards |
| ||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
(#)(3)
|
| |
($)(4)
|
| |||||||||||||||||||||||||||
Phillip A. Gobe
|
| | | | | | | | | | 400,000 | | | | | | 800,000 | | | | | | 1,600,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 41,797 | | | | | | 399,997 | | |
RSUs
|
| | | | 3/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 234,042 | | | | | | 879,998 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 31,348 | | | | | | 62,695 | | | | | | 125,390 | | | | | | — | | | | | | 840,113 | | |
PSUs
|
| | | | 3/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 175,532 | | | | | | 351,063 | | | | | | 702,126 | | | | | | — | | | | | | 1,688,613 | | |
Dale Redman(5)
|
| | | | | | | | | | 385,000 | | | | | | 770,000 | | | | | | 1,540,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 83,594 | | | | | | 799,995 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 62,696 | | | | | | 125,391 | | | | | | 250,782 | | | | | | — | | | | | | 1,680,239 | | |
Stock Options(6)
|
| | | | 3/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 679,239 | | |
Darin G. Holderness
|
| | | | | | | | | | 187,500 | | | | | | 375,000 | | | | | | 750,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 41,797 | | | | | | 399,997 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 31,348 | | | | | | 62,695 | | | | | | 125,390 | | | | | | — | | | | | | 840,113 | | |
RSUs(6)
|
| | | | 10/30/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 163,842 | | |
PSUs(6)
|
| | | | 10/30/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 326,401 | | |
David S. Schorlemer
|
| | | | | | | | | | 39,600 | | | | | | 79,200 | | | | | | 158,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 10/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 27,210 | | | | | | 119,996 | | |
PSUs
|
| | | | 10/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,408 | | | | | | 40,816 | | | | | | 81,632 | | | | | | — | | | | | | 267,753 | | |
Jeffrey D. Smith
|
| | | | | | | | | | 138,125 | | | | | | 276,250 | | | | | | 552,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 31,347 | | | | | | 299,991 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,511 | | | | | | 47,021 | | | | | | 94,042 | | | | | | — | | | | | | 630,081 | | |
David Sledge(5)
|
| | | | | | | | | | 212,500 | | | | | | 425,000 | | | | | | 850,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 37,617 | | | | | | 359,995 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,213 | | | | | | 56,426 | | | | | | 112,852 | | | | | | — | | | | | | 756,108 | | |
RSUs(6)
|
| | | | 12/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 221,951 | | |
PSUs(6)
|
| | | | 12/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 308,387 | | |
Stock Options(6)
|
| | | | 12/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,400,783 | | |
Adam Muñoz
|
| | | | | | | | | | 212,500 | | | | | | 425,000 | | | | | | 850,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,000 | | | | | | 143,550 | | |
RSUs
|
| | | | 3/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 31,914 | | | | | | 119,997 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 11,250 | | | | | | 22,500 | | | | | | 45,000 | | | | | | — | | | | | | 301,500 | | |
PSUs
|
| | | | 3/13/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,926 | | | | | | 47,872 | | | | | | 95,744 | | | | | | — | | | | | | 230,264 | | |
Newton W. “Trey” Wilson III
|
| | | | | | | | | | 150,000 | | | | | | 300,000 | | | | | | 600,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
RSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,988 | | | | | | 219,995 | | |
PSUs
|
| | | | 2/11/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,241 | | | | | | 34,482 | | | | | | 68,964 | | | | | | — | | | | | | 462,059 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested(4) (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested(5) ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares That Have Not Vested(6) (#) |
| |
Equity
Incentive Plan Awards: Market Value of Unearned Shares That Have Not Vested(5) ($) |
| ||||||||||||||||||||||||
Phillip A. Gobe
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 282,024 | | | | | | 2,084,157 | | | | | | — | | | | | | — | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 846,070 | | | | | | 6,252,457 | | | ||
Dale Redman
|
| | | | 699,852(1) | | | | | | — | | | | | | 3.96 | | | | | | 3/13/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 501,540(2) | | | | | | — | | | | | | 2.25 | | | | | | 3/13/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 59,994(3) | | | | | | — | | | | | | 14.00 | | | | | | 3/13/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Darin G. Holderness
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 154,494 | | | | | | 1,141,711 | | |
David S. Schorlemer
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 27,210 | | | | | | 201,082 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 81,632 | | | | | | 603,260 | | |
Jeffrey D. Smith
|
| | | | 699,852(1) | | | | | | — | | | | | | 3.96 | | | | | | 6/14/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 310,971(2) | | | | | | — | | | | | | 2.25 | | | | | | 7/19/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 89,991(3) | | | | | | 29,997 | | | | | | 14.00 | | | | | | 3/16/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 60,589 | | | | | | 447,753 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 152,866 | | | | | | 1,129,680 | | |
David Sledge
|
| | | | 586,755(1) | | | | | | — | | | | | | 3.96 | | | | | | 6/14/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 231,019(2) | | | | | | — | | | | | | 2.25 | | | | | | 6/14/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 119,988(3) | | | | | | — | | | | | | 14.00 | | | | | | 6/14/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 52,942 | | | | | | 391,241 | | |
Adam Muñoz
|
| | | | 36,703(3) | | | | | | 12,235 | | | | | | 14.00 | | | | | | 3/16/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 55,519 | | | | | | 410,285 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 158,392 | | | | | | 1,170,517 | | |
Newton W. “Trey” Wilson III
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 32,690 | | | | | | 241,579 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 98,068 | | | | | | 724,723 | | |
Name
|
| |
Number of
Unvested RSUs on 12/31/2020(a) |
| |
Remaining Vesting Dates
|
| |||
Phillip A. Gobe
|
| | | | 6,185 | | | | October 7, 2021 and October 7, 2022 | |
| | | | | 41,797 | | | |
February 11, 2021, February 11, 2022, and February 11, 2023
|
|
| | | | | 234,042 | | | | March 13, 2021, March 13, 2022, and March 13, 2023 | |
David S. Schorlemer
|
| | | | 27,210 | | | | October 13, 2021, October 13, 2022 and October 13, 2023 | |
Jeffrey D. Smith
|
| | | | 9,634 | | | | April 18, 2021 | |
| | | | | 19,608 | | | | March 18, 2021 and March 18, 2022 | |
| | | | | 31,347 | | | |
February 11, 2021, February 11, 2022, and February 11, 2023
|
|
Adam Muñoz
|
| | | | 2,722 | | | | April 18, 2021 | |
| | | | | 5,883 | | | | March 18, 2021 and March 18, 2022 | |
| | | | | 15,000 | | | |
February 11, 2021, February 11, 2022, and February 11, 2023
|
|
| | | | | 31,914 | | | | March 13, 2021 and March 13, 2022, and March 13, 2023 | |
Newton W. “Trey”
Wilson III |
| | | | 9,702 | | | | October 7, 2021 and October 7, 2022 | |
| | | | | 22,988 | | | |
February 11, 2021, February 11, 2022, and February 11, 2023
|
|
Name
|
| |
Maximum Number of
Unvested PSUs on 12/31/2020 |
| |
Applicable Performance
Period End Date |
| |||
Phillip A. Gobe
|
| | | | 18,554 | | | |
December 31, 2021
|
|
| | | | | 125,390 | | | |
December 31, 2022
|
|
| | | | | 702,126 | | | |
December 31, 2022
|
|
Darin G. Holderness
|
| | | | 29,104 | | | |
December 31, 2021
|
|
| | | | | 125,390 | | | |
December 31, 2022
|
|
David S. Schorlemer
|
| | | | 81,632 | | | |
December 31, 2022
|
|
Jeffrey D. Smith
|
| | | | 58,824 | | | |
December 31, 2021
|
|
| | | | | 94,042 | | | |
December 31, 2022
|
|
David Sledge
|
| | | | 52,942 | | | |
December 31, 2021
|
|
Adam Muñoz
|
| | | | 17,648 | | | |
December 31, 2021
|
|
| | | | | 45,000 | | | |
December 31, 2022
|
|
| | | | | 95,744 | | | |
December 31, 2022
|
|
Newton W. “Trey” Wilson III
|
| | | | 29,104 | | | |
December 31, 2021
|
|
| | | | | 68,964 | | | |
December 31, 2022
|
|
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
Name
|
| |
Number of
Shares Acquired on Exercise (#) |
| |
Value Realized
on Exercise ($) |
| |
Number of
Shares Acquired on Vesting(1) (#) |
| |
Value Realized
on Vesting(2) ($) |
| ||||||||||||
Phillip A. Gobe
|
| | | | — | | | | | | — | | | | | | 15,274 | | | | | | 67,382 | | |
Dale Redman
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Darin G. Holderness
|
| | | | — | | | | | | — | | | | | | 56,349 | | | | | | 224,082 | | |
David S. Schorlemer
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jeffrey D. Smith
|
| | | | — | | | | | | — | | | | | | 57,412 | | | | | | 319,807 | | |
David Sledge
|
| | | | — | | | | | | — | | | | | | 82,612 | | | | | | 515,549 | | |
Adam Muñoz
|
| | | | — | | | | | | — | | | | | | 16,550 | | | | | | 91,619 | | |
Newton W. “Trey” Wilson III
|
| | | | — | | | | | | — | | | | | | 4,850 | | | | | | 20,661 | | |
Name
|
| |
Termination
without Cause or Resignation for Good Reason(1) ($) |
| |
Termination as a
Result of Death, Disability(2) ($) |
| |
Termination as a
Result of Retirement(3) ($) |
| |
Termination
Without Cause Within One Year Following a Change in Control(4) ($) |
| |
Resignation for
Good Reason Within One Year Following a Change in Control(4) ($) |
| |||||||||||||||
Phillip A. Gobe
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance(5)
|
| | | | 3,200,000 | | | | | | — | | | | | | — | | | | | | 4,800,000 | | | | | | 4,800,000 | | |
Pro-Rata Bonus(6)
|
| | | | — | | | | | | 800,000 | | | | | | — | | | | | | 800,000 | | | | | | 800,000 | | |
COBRA Subsidy(7)
|
| | | | 8,223 | | | | | | — | | | | | | — | | | | | | 20,045 | | | | | | 20,045 | | |
RSU & PSU Acceleration(8)
|
| | | | — | | | | | | 770,888 | | | | | | 770,888 | | | | | | 5,210,386 | | | | | | — | | |
Total | | | | | 3,208,223 | | | | | | 1,570,889 | | | | | | 770,888 | | | | | | 10,830,431 | | | | | | 5,620,045 | | |
David S. Schorlemer
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance(5)
|
| | | | 1,215,000 | | | | | | — | | | | | | — | | | | | | 1,620,000 | | | | | | 1,620,000 | | |
Pro-Rata Bonus(6)
|
| | | | — | | | | | | 79,200 | | | | | | — | | | | | | 79,200 | | | | | | 79,200 | | |
COBRA Subsidy(7)
|
| | | | 6,046 | | | | | | — | | | | | | — | | | | | | 18,126 | | | | | | 18,126 | | |
RSU & PSU Acceleration(8)
|
| | | | — | | | | | | 67,027 | | | | | | 67,027 | | | | | | 502,712 | | | | | | — | | |
Total | | | | | 1,221,046 | | | | | | 146,227 | | | | | | 67,072 | | | | | | 2,220,038 | | | | | | 1,717,326 | | |
Jeffrey D. Smith
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSU & PSU Acceleration(8)
|
| | | | — | | | | | | 438,220 | | | | | | 438,220 | | | | | | 1,012,593 | | | | | | — | | |
Total | | | | | — | | | | | | 438,220 | | | | | | 438,220 | | | | | | 1,012,593 | | | | | | — | | |
Adam Muñoz
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance(5)
|
| | | | 850,000 | | | | | | — | | | | | | — | | | | | | 1,275,000 | | | | | | 1,275,000 | | |
Pro-Rata Bonus(6)
|
| | | | — | | | | | | 425,000 | | | | | | — | | | | | | 425,000 | | | | | | 425,000 | | |
COBRA Subsidy(7)
|
| | | | 6,046 | | | | | | — | | | | | | — | | | | | | 18,126 | | | | | | 18,126 | | |
RSU & PSU Acceleration(8)
|
| | | | — | | | | | | 222,624 | | | | | | 222,624 | | | | | | 995,544 | | | | | | — | | |
Total | | | | | 856,046 | | | | | | 647,624 | | | | | | 222,624 | | | | | | 2,713,670 | | | | | | 1,718,126 | | |
Newton W. “Trey” Wilson
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance(5)
|
| | | | 700,000 | | | | | | — | | | | | | — | | | | | | 1,050,000 | | | | | | 1,050,000 | | |
Pro-Rata Bonus(6)
|
| | | | — | | | | | | 300,000 | | | | | | — | | | | | | 300,000 | | | | | | 300,000 | | |
RSU & PSU Acceleration(8)
|
| | | | — | | | | | | 224,649 | | | | | | 224,649 | | | | | | 603,941 | | | | | | — | | |
Total | | | | | 700,000 | | | | | | 524,649 | | | | | | 224,649 | | | | | | 1,953,941 | | | | | | 1,350,000 | | |
Type of Benefits
|
| |
Severance
Payments ($) |
| |||
Vacation Payout
|
| | | | 38,217 | | |
Stock Option Extension(1)
|
| | | | 679,239 | | |
COBRA Subsidy(2)
|
| | | | 20,045 | | |
Total
|
| | | | 737,501 | | |
Type of Benefits
|
| |
Severance
Payments ($) |
| |||
Vacation Payout
|
| | | | 11,175 | | |
RSU Acceleration(1)
|
| | | | 203,421 | | |
PSU Acceleration(1)
|
| | | | 222,579 | | |
Attorneys’ Fees
|
| | | | 5,366 | | |
Discretionary Cash Bonus(2)
|
| | | | 279,340 | | |
Total
|
| | | | 721,881 | | |
Type of Benefits
|
| |
Severance
Payments ($) |
| |||
Vacation Payout
|
| | | | 44,952 | | |
Cash Severance
|
| | | | 1,015,000 | | |
2020 Annual Bonus Payout
|
| | | | 316,585 | | |
COBRA Subsidy(1)
|
| | | | 11,724 | | |
RSU Acceleration(2)
|
| | | | 221,951 | | |
PSU Acceleration(2)
|
| | | | 387,849 | | |
Stock Option Extension(3)
|
| | | | 1,400,783 | | |
Attorneys’ Fees
|
| | | | 11,534 | | |
Total | | | | | 3,410,378 | | |
Plan Category
|
| |
Number of securities
to be issued upon exercise of outstanding options, warrants and rights(1) |
| |
Weighted average
exercise price of outstanding options, warrants and rights |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(2) |
| |||||||||
| | |
(a)
|
| |
(b)
|
| |
(c)
|
| |||||||||
Equity compensation plans approved by security holders
|
| | | | 6,384,988 | | | | | $ | 4.82 | | | | | | 4,749,831 | | |
Plan Category
|
| |
Number of securities
to be issued upon exercise of outstanding options, warrants and rights(1) |
| |
Weighted average
exercise price of outstanding options, warrants and rights |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(2) |
| |||||||||
| | |
(a)
|
| |
(b)
|
| |
(c)
|
| |||||||||
Equity compensation plans not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 6,384,988 | | | | | $ | 4.82 | | | | | | 4,749,831 | | |
| | |
Shares Beneficially Owned
|
| |||||||||
|
Number
|
| |
Percentage
|
| ||||||||
Name of Beneficial Owner(1) | | | | | | | | | | | | | |
5% Stockholders | | | | | | | | | | | | | |
Pioneer Natural Resources Company(2)
|
| | | | 16,600,000 | | | | | | 16.3% | | |
BlackRock, Inc.(3)
|
| | | | 12,746,812 | | | | | | 12.5% | | |
THRC Holdings, L.P.(4)
|
| | | | 7,601,133 | | | | | | 7.4% | | |
The Vanguard Group(5)
|
| | | | 8,328,812 | | | | | | 8.2% | | |
Directors and Named Executive Officers(6) | | | | | | | | | | | | | |
Phillip A. Gobe
|
| | | | 69,171 | | | | | | * | | |
David S. Schorlemer(7)
|
| | | | — | | | | | | * | | |
Darin G. Holderness(7)
|
| | | | 54,440 | | | | | | * | | |
David Sledge(8)
|
| | | | 1,038,472 | | | | | | 1.0% | | |
Adam Muñoz
|
| | | | 66,872 | | | | | | * | | |
Newton W. “Trey” Wilson III
|
| | | | 9,059 | | | | | | * | | |
Dale Redman(9)
|
| | | | 371,200 | | | | | | * | | |
Jeffrey D. Smith(10)
|
| | | | 370,080 | | | | | | * | | |
Spencer D. Armour III
|
| | | | 647,289 | | | | | | * | | |
Mark S. Berg
|
| | | | 12,274 | | | | | | * | | |
Anthony J. Best
|
| | | | 48,363 | | | | | | * | | |
Michele V. Choka
|
| | | | 37,573 | | | | | | * | | |
Alan E. Douglas
|
| | | | 54,515 | | | | | | * | | |
G. Larry Lawrence
|
| | | | 15,392 | | | | | | * | | |
Jack B. Moore
|
| | | | 54,515 | | | | | | * | | |
All Directors and Executive Officers as a group (12 persons)
|
| | | | 1,039,822 | | | | | | 1.0% | | |
Name
|
| |
Age
|
| |
Position with ProPetro Holding Corp.
|
| |
Executive
Officer Since |
|
Phillip A. Gobe | | |
68
|
| |
Chief Executive Officer and Chairman of the Board
|
| |
2019
|
|
David S. Schorlemer | | |
54
|
| | Chief Financial Officer | | |
2020
|
|
Adam Muñoz | | |
38
|
| | Chief Operating Officer | | |
2020
|
|
Newton W. “Trey” Wilson III | | |
70
|
| | General Counsel and Corporate Secretary | | |
2019
|
|
Elo Omavuezi | | |
38
|
| | Chief Accounting Officer | | |
2019
|
|
Samuel D. Sledge | | |
34
|
| | Chief Strategy and Administrative Officer | | |
2020
|
|