Registrant’s telephone number, including area code: (713) 881-3600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.10 par value
AE
NYSE American LLC
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2020, Adams Resources & Energy, Inc. (the “Company”), a Delaware corporation, issued a
press release announcing the promotion of Wade Harrison to President of Service Transport Company (“Service Transport”), a wholly owned subsidiary of the Company effective January 20, 2020. Kevin J. Roycraft has resigned his position as President of Service Transport, and remains Chief Executive Officer and President
of Adams, as well as Interim President of GulfMark Energy, Inc., the Company’s other wholly owned subsidiary.
Mr. Harrison, age 45, joined Service Transport in August 2018 as Vice President of Sales and has 17 years of experience in transportation and logistics operations, management and leadership. Prior to joining Service Transport, Mr. Harrison was with Groendyke Transport, Inc. from January 2010 to August 2018, where he held positions of increasing responsibility, which culminated in his role as Vice President of Gulf Coast Operations. He began his career in transportation and logistics in 2003 with CTL Distribution Logistics, LLC, where he most recently served as Vice President of National Accounts. Mr. Harrison holds a Bachelor of Business Administration degree in Marketing from Sam Houston State University.
Mr.
Harrison will have a base annual salary of $230,000 and will be eligible for an annual bonus at the discretion of the Compensation Committee of the Board of Directors based upon performance. He will also be eligible to receive an annual equity grant under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, subject to the discretion of the Compensation Committee of the Board of Directors.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
