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): May 23, 2007
SUPERIOR ENERGY SERVICES, INC.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction)
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0-20310
(Commission File Number)
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75-2379388
(IRS Employer Identification No.) |
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1105 Peters Road, Harvey, Louisiana
(Address of principal executive offices)
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70058
(Zip Code) |
(504) 362-4321
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligations of the registrant under any of the following provisions:
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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 5.02. |
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers. |
On May 23, 2007, at the Annual Meeting of Stockholders of Superior
Energy Services, Inc. (the “Company”), the Company’s stockholders
approved the 2007 Employee Stock Purchase Plan (the “Plan”). The
Plan permits eligible employees to purchase shares of the Company’s
common stock at a discount during monthly offering periods
beginning on the first day of each month during the year (the
“Offering Periods”). Eligible employees may purchase shares
through payroll deductions of up to 20% of total compensation per
pay period, but may purchase no more than $10,000 worth of shares
of common stock in any calendar year, as measured as of the first
day of each applicable Offering Period. The price paid by the
employees is 85% of the closing price of a share of common stock on
the last day of the Offering Period. The maximum aggregate number
of shares of common stock that may be purchased through the Plan is
1,000,000 shares, and the Plan will go into effect on August 1,
2007. The Company’s executive officers are eligible to participate
in the Plan under the same terms and conditions as other plan
participants.
The foregoing summary is not intended to be complete and is
qualified in its entirety by the full text of the Plan. A copy of
the Plan is attached to this Current Report on Form 8-K as Exhibit
10.1.
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| Item 7.01. |
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Regulation FD Disclosure. |
On May 24, 2007, the Company
issued a press release
announcing the results of
the 2007 Annual Meeting.
The full text of the press
release is attached hereto
as Exhibit 99.1 and
incorporated herein by
reference. In accordance
with General Instruction
B.2. of Form 8-K, the
information presented herein
shall not be deemed “filed”
for purposes of Section 18
of the Securities Exchange
Act of 1934, as amended, nor
shall it be deemed
incorporated by reference in
any filing under the
Securities Act of 1933, as
amended, except as expressly
set forth by specific
reference in such a filing.
On May 23, 2007,
the Board of
Directors of the
Company, upon
recommendation
of its
Nominating and
Corporate
Governance
Committee,
increased the
amount of the
annual retainer
paid to the
Compensation
Committee
Chairman from
$10,000 to
$15,000 per
year. The
Nominating and
Corporate
Governance
Committee
received input
from an
independent
compensation
consultant in
order to ensure
that the annual
retainer for the
Compensation
Committee
Chairman
reflected
current
competitive
market
conditions.