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Posted 24 October, 2023

Cactus, Inc. appointed Stephen Tadlock as new CEO

NYSE:WHD appointed new Chief Executive Officer Stephen Tadlock in a 8-K filed on 24 October, 2023.


  i.Stephen Tadlock, Executive Vice President, Chief Financial Officer ("CFO") and Treasurer of the Company, has been appointed as the Chief Executive Officer ("CEO") of the Company's Spoolable Technologies segment, effective immediately.  

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Overview of Cactus, Inc.
Companies on the Energy Service • Oil & Gas Products/Services
Cactus, Inc. is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment. The company was founded in August 2011 and is headquartered in Houston, TX.
Market Cap
$3.60B
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Cactus, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On October 18, 2023, the Board of Directors (the "Board") of Cactus, Inc. (the "Company") approved the following leadership changes:


i.Stephen Tadlock, Executive Vice President, Chief Financial Officer ("CFO") and Treasurer of the Company, has been appointed as the Chief Executive Officer ("CEO") of the Company's Spoolable Technologies segment, effective immediately. 


ii.Alan Keifer has been appointed as the Interim CFO of the Company, effective November 13, 2023. 


Mr. Tadlock will continue to serve as CFO of the Company until Mr. Keifer begins his service as Interim CFO, and Mr. Tadlock will remain Executive Vice President and Treasurer of the Company.


Mr. Keifer, age 68, has, since February 2018, provided consulting services to the Company, primarily related to financial reporting and accounting matters. Prior to that he held various positions of increasing responsibility at Baker Hughes, Inc., including most recently when he served as Vice President, Controller and Chief Accounting Officer from July 1999 to August 2016.


There are no arrangements or understandings between Mr. Keifer and any other person pursuant to which he was appointed as Interim CFO of the Company. There are no family relationships between Mr. Keifer and any director or executive officer of the Company. There are no transactions in which Mr. Keifer has an interest requiring disclosure under Item 404(a) of Regulation S-K.


For his service as Interim CFO, effective November 13, 2023, Mr. Keifer will receive an annualized base salary of $405,000 and will be eligible to participate in the Company's Management Incentive Plan on the same terms and conditions as the Company's other similarly situated executives. As a participant in the Company's Management Incentive Plan, Mr. Keifer will be eligible to receive a bonus of up to 80% of his base salary if the Company satisfies certain financial performance and safety metrics (the "non-stretch bonus") and, if the Company meets more stringent performance measures, Mr. Keifer will be eligible to receive an additional bonus of up to 40% of the non-stretch bonus actually earned. Mr. Keifer's 2023 and 2024 bonuses will be pro-rated to reflect the portion of the applicable year that Mr. Keifer serves as the Interim CFO, with the 2024 performance measures scored on a quarterly basis, rather than on an annual basis.