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Superior Energy Services, Inc. Announces Results of Annual Meeting

HOUSTON, June 7, 2013 /PRNewswire/ -- Superior Energy Services, Inc. (NYSE: SPN) (the "Company") today announced the results of its 2013 Annual Meeting of Stockholders held on June 6, 2013 in Houston.

The stockholders elected Harold J. Bouillion, Enoch L. Dawkins, David D. Dunlap, James M. Funk, Terence E. Hall, Ernest E. "Wyn" Howard, III, Peter D. Kinnear, Michael M. McShane, W. Matt Ralls, and Justin L. Sullivan to serve as directors until the 2014 Annual Meeting of Stockholders. Also, the Company's Board of Directors, at the recommendation of its Nominating and Corporate Governance Committee, approved the election of Mr. Dawkins to serve as lead director of the Board until the next Annual Meeting.

In addition to electing directors, the stockholders adopted the 2013 Stock Incentive Plan, adopted the 2013 Employee Stock Purchase Plan, adopted an amendment to the Company's certificate of incorporation to remove the limitation on non-U.S. citizen stock ownership, and ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013. Stockholders also approved an advisory vote on executive compensation. The Company introduced a new executive change of control severance program to address stockholder and advisory group concerns regarding excise tax gross ups. Prior to approval of the new program, the Company sought input from and responded to questions raised by its top 25 stockholders (holding in the aggregate a majority of the outstanding shares) and advisory firms concerning the design of the program. With almost 83% of the Company's outstanding shares voting, the Company is aware of its stockholders' significant level of interest in this matter and intends to continue its discussions in the coming months with its large stockholders and advisory firms to gain further insight into their views of the Company's program and current executive compensation policies and practices. 

Superior Energy Services, Inc. serves the drilling, completion and production-related needs of oil and gas companies worldwide through its brand name drilling products and its integrated completion and well intervention services and tools, supported by an engineering staff who plan and design solutions for customers.

1001 Louisiana Ave., Suite 2900
Houston, TX 77002
NYSE: SPN
(713) 654-2200

FOR FURTHER INFORMATION CONTACT:
David Dunlap, President and CEO, (713) 654-2200;
Robert Taylor, CFO or Greg Rosenstein, EVP, (504) 587-7374

 

SOURCE Superior Energy Services, Inc.

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