ProFrac Holding Corp
For the period ended May 30, 2024. Filed Apr 19, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 30, 2024 · Filed Apr 19, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Information Statement
[ ] Confidential for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material under
§240.14a-12
(Name of Registrant as Specified in its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
[X] No fee required
[ ] Fee paid previously with preliminary materials
[ ] Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
14a-6(i)(1)
and
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April 19, 2024
Dear Stockholders:
You are cordially invited to attend the 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of ProFrac Holding Corp. (“ProFrac” or the “Company”) on May 30, 2024, at 9:00 a.m. Central Time. The Annual Meeting will be solely by means of remote communication in an audio-only format, conducted virtually via live webcast on the Internet atwww.proxydocs.com/ACDC. There will be no physical location for the Annual Meeting. You will be able to attend and participate in the Annual Meeting online and vote your shares electronically. In addition, although the live webcast is available only to stockholders at the time of the meeting, following completion of the Annual Meeting, a webcast replay will be posted as soon as practicable to our Investor Relations section of our website athttps://ir.pfholdingscorp.com.
The matters expected to be acted upon at the Annual Meeting are described in the accompanying Proxy Statement (“Proxy Statement”). The Annual Meeting materials include the Proxy Statement, our annual report on Form 10-K for the fiscal year ended December 31, 2023 (the “Form 10-K”) and the Proxy card, each of which is enclosed (collectively, the “Proxy Materials”).
Please use this opportunity to vote on the business to come before the Annual Meeting. You will receive Proxy Materials in paper form, which will be mailed to you on or about April 19, 2024. Only stockholders of record at the close of business on April 1, 2024 may vote at the Annual Meeting and any postponements or adjournments of the meeting. All stockholders are cordially invited to participate in the Annual Meeting and any postponements or adjournments of the meeting. However, to ensure your representation at the Annual Meeting, please vote as soon as possible by using the Internet or telephone, as instructed in your Proxy Materials. Alternatively, you may submit your paper Proxy card by mail. Returning the paper Proxy card or voting electronically does NOT deprive you of your right to participate in the virtual meeting and to vote your shares for the matters acted upon at the meeting.
Your vote is important. Whether or not you expect to attend and participate in the Annual Meeting, please submit your Proxy electronically via the Internet or by telephone, or complete, sign and date the paper Proxy card and return it in thepre-paid envelope provided.
Sincerely,
Matthew D. Wilks
Executive Chairman
PROFRAC HOLDING CORP.
Willow Park, TX 76087
(254)776-3722
NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 30, 2024
| Date, Time and Place: | ProFrac Holding Corp., a Delaware corporation, will hold its Annual Meeting of Stockholders on May 30, 2024 at 9:00 a.m. Central Time virtually via live webcast on the Internet at www.proxydocs.com/ACDC. |
|---|---|
| Items of Business: | 1. To elect the six (6) nominees identified in the accompanying Proxy Statement to serve as directors for the ensuing year (Proposal No. 1); |
| 2. To determine, in a non-binding advisory vote, to approve the compensation of our namedexecutive officers (Proposal No. 2); | |
| 3. To ratify the appointment of Grant Thornton LLP as the independent registered public accounting firm ofProFrac Holding Corp. for the fiscal year ending December 31, 2024 (Proposal No. 3); and | |
| 4. To transact any other business as may properly come before the Annual Meeting or any adjournment orpostponement thereof. | |
| Record Date: | Only stockholders of record of our Common Stock (as defined below) at the close of business on April 1, 2024 are entitled to notice of, and to vote, at the Annual Meeting and any adjournment or postponement thereof. A complete list of stockholders entitled to vote at the Annual Meeting will be available for examination ten (10) days before the Annual Meeting and may be inspected during normal business hours at our offices located at 333 Shops Boulevard, Suite 301, Willow Park, Texas 76087. The list of stockholders will also be available for your review by accessing the meeting website during the Annual Meeting. |
| Proxy Voting: | Holders of our Class A Common Stock, $0.01 par value per share (the “Common Stock”), are entitled to one vote for each share of Common Stock held as of April 1, 2024. |
| The approximate date on which the attached Proxy Statement, Proxy card and the Company’s Form 10-K arefirst being made available to stockholders is April 19, 2024. This Notice is not a form of voting and onlypresents an overview of the more complete Proxy Materials which have been mailed to you. The Proxy card alsoincludes instructions on how to access our Proxy Materials over the Internet, vote online, by telephone, or bymail. We encourage you to review the Proxy Materials before voting. |
By Order of the Board of Directors,
Steven Scrogham Chief Legal Officer, Chief Compliance Officer and Corporate Secretary
April 19, 2024
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 30, 2024: OUR 2024 PROXY STATEMENT AND PROXY CARD, AS WELL AS OUR ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023, ARE AVAILABLE FREE OF CHARGE ATWWW.PROXYDOCS.COM/ACDC.
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PROFRAC HOLDING CORP.
TABLE OF CONTENTS
| Page | |
|---|---|
| QUESTIONS AND ANSWERS ABOUT THE MEETING | 1 |
| BOARD OF DIRECTORS AND CORPORATE GOVERNANCE | 7 |
| NOMINATIONS PROCESS AND DIRECTOR QUALIFICATIONS | 11 |
| PROPOSAL NO. 1: ELECTION OF DIRECTORS | 12 |
| PROPOSAL NO. 2: ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION | 16 |
| PROPOSAL NO. 3: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 17 |
| REPORT OF THE AUDIT COMMITTEE | 18 |
| EXECUTIVE OFFICERS | 19 |
| COMPENSATION DISCUSSION AND ANALYSIS | 20 |
| REPORT OF THE COMPENSATION COMMITTEE | 32 |
| EXECUTIVE COMPENSATION TABLES | 33 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 45 |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 49 |
| DELINQUENT SECTION 16(a) REPORTS | 51 |
| ADDITIONAL INFORMATION | 51 |
| OTHER MATTERS | 51 |
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