UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 21, 2006
Basic Energy Services, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction of
incorporation )
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1-32693
(Commission
File Number)
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54-2091194
(IRS Employer
Identification No.) |
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400 W. Illinois, Suite 800
Midland, Texas
(Address of principal executive offices)
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79701
(Zip Code) |
Registrants telephone number, including area code: (432) 620-5500
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 (see
General Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
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Item 7.01 Regulation FD Disclosure.
Basic Energy Services, Inc. announced today that James J. Carter, Basics Executive Vice
President and Secretary, will retire and resign effective April 30, 2006. Mr. Carter has served as
Basics Executive Vice President since January 2005, served as Basics Chief Financial Officer from
December 2000 until January 2005, and has spent over 24 years in the well services industry.
Kenneth
V. Huseman, Basics President and Chief Executive Officer, said: Jim has played a key role in the growth of
the company over the last five years initially as CFO and more recently leading the corporate
development function. We have been anticipating Jims retirement for about two years and have
planned the transition of his current responsibilities to Roe Patterson, recently appointed Vice
President, Corporate Development. All of us at Basic Energy Services thank Jim for his
contribution to the company and wish him well in his retirement.
In connection with Mr. Carters announced retirement, Mr. Carter exercised all of his
vested options to acquire 148,720 shares of common stock on March 21, 2006 in a cashless
exercise approved by the Compensation Committee of the Board in accordance with Basics Second
Amended and Restated 2003 Incentive Plan. Pursuant to this exercise, Mr. Carter surrendered to
Basic an aggregate of 68,118 shares of common stock in lieu of paying the exercise price and
applicable withholding taxes, and received net of this amount an
aggregate of 80,602 shares of
common stock.
Pursuant to General Instruction B.2 of Form 8-K and Securities and Exchange Commission Release
No. 33-8176, the foregoing information is not filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not
deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, but is
instead furnished for purposes of that instruction.
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