Defendant Name: ProPetro Holding Corp.

Defendant Type: Public Company

Document Reference: 2021-244

Document Details

Legal Case Name In the Matter of ProPetro Holding Corp. and Dale Redman
Document Name SEC Charges Oilfield Services Company and Former CEO with Failing to Disclose Executive Perks and Stock Pledges
Document Date 22-Nov-2021
Document Format Administrative Proceeding
File Number 3-20661
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC stated that: "Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges that they failed to properly disclose some of Redman’s executive perks and two stock pledges."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution

Related Documents:

33-11008 22-Nov-2021 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange act of 1934, Making Findings and Imposing a Cease-and-Desist Order
On November 22, 2021, the SEC instituted settled cease-and-desist proceedings against ProPetro Holding Corp. and Dale Redman stating: "These proceedings arise from: (a) ProPetro’s failure to disclose certain perquisites and stock pledges concerning its co-founder and former CEO Dale Redman in its definitive proxy statements and annual reports for the fiscal years ended December 31, 2017 and 2018; and (b) Redman’s role in ProPetro’s failure to disclose the perquisites paid to him and his pledges of ProPetro stock while he was CEO and a member of ProPetro’s Board of Directors."

Other Defendants in Action:

Dale Redman