DAWSON GEOPHYSICAL CO appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On November 17, 2023, it was determined by the Board of Directors of Dawson Geophysical Company (the "Company") that the employment of (i) James K. Brata, the Company's Chief Financial Officer, Executive Vice President, Secretary and Treasurer; (ii) Stephen C. Jumper, the Company's President and Chief Executive Officer; and (iii) C. Ray Tobias, the Company's Chief Operating Officer and Executive Vice President would terminate (the "Terminations") on December 20, 2023 (the "Termination Date").


In connection with the Terminations, effective as of November 20, 2023 as appointed by the Board of Directors of the Company: (x) Anthony Clark will serve as the Company's President and Chief Executive Officer, (y) Ray Mays will serve as the Company's Chief Operating Officer, and (z) Ian Shaw will serve as the Company's Chief Financial Officer (together, the "Executives"). Mr. Shaw will provide fractional services to the Company while remaining an employee of Wilks Brothers, LLC.


Biographical information regarding Mr. Clark, age 66, is set forth in the Company's proxy statement for its 2023 annual meeting of stockholders, as filed with the U.S. Securities and Exchange Commission on November 8, 2023, and such information is incorporated by reference herein.


Mr. Mays, age 66, joined the Company in April 2023 as part of the asset purchase of Breckenridge Geophysical where he served as Vice President from April 2021 to April 2023. Prior to that, he worked in management roles with companies including Exxon Mobil Corporation, Halliburton Company and CGG Veritas Services Holding (US) Inc. Mr. Mays has both domestic and international experience working highland, transition and heli-portable in some of the most remote and challenging regions around the world.


Mr. Shaw, age 40, currently is the Vice President of Accounting and Finance of Wilks Brothers, LLC, a family office which has made and holds significant public and private market investments across diversified industries with significant experience in oilfield services. Prior to his position with Wilks Brothers, LLC, Mr. Shaw was the Principal Financial Officer of Approach Resources Inc., a public E&P company and spent 8 years at Ernst & Young in the audit practice. He's earned a Masters degree in accounting from Texas Christian University and is a Certified Public Accountant in Texas.


No arrangement or understanding exists between any of the Executives and any other person pursuant to which any of the Executives was selected. There have been no related party transactions between the Company or any of its subsidiaries and any of the Executives reportable under Item 404(a) of Regulation S-K. None of the Executives have a family relationship with any of the Company's directors or executive officers.