RPC, Inc. filings document the regulatory record for a Delaware oilfield services company with common stock listed on the New York Stock Exchange under RES. Its 8-K reports cover results of operations and financial condition, quarterly cash dividends, director appointments, committee assignments and other governance events.
Proxy materials describe annual meeting voting, board elections, auditor ratification, executive compensation, equity awards and amendments to the 2024 Stock Incentive Plan. The filing record also provides formal disclosure around capital returns, registered common stock, board committee structure and public-company governance matters.
RPC Inc. (RES) reported that the Gary W. Rollins Voting Trust ceased to be the beneficial owner of a large indirect stake in the company due to internal restructuring transactions on September 17, 2026. The trust reported dispositions of 78,981,820 common shares held through LOR, Inc. and 6,143,360 shares held through RFT Investment Company, LLC, leaving 0 shares reported as indirectly owned through those entities. Footnotes state that these changes resulted from a distribution of certain voting shares of LOR, Inc. to the trust’s beneficiary and reference an earlier pro rata distribution on February 27, 2026 for no consideration, with the trust disclaiming beneficial ownership except to the extent of its pecuniary interest.
RPC Inc. (RES) received an updated Schedule 13D/A from members of the Rollins family and affiliated entities reflecting revised beneficial ownership and internal trust/accounting changes. The filing reports that this coordinated “Group” now has beneficial ownership of 125,470,221 shares of RPC common stock, representing 56.6% of the outstanding shares, based on 221,657,012 shares outstanding as of July 24, 2026.
The amendment notes that, following a September 17, 2026 distribution of certain voting shares of LOR, Inc. to its beneficiary, the GWR Voting Trust is no longer the beneficial owner of RPC shares held indirectly through LOR, Inc. or RFT Investment Company, LLC. Several reporting persons, including Gary W. Rollins, Amy R. Kreisler, Pamela R. Rollins, and Timothy C. Rollins, affirm they are acting in concert regarding voting and dispositive power over their RPC holdings and are filing jointly as a group.
RPC Inc. (RES) reports that on September 3, 2026, the Human Capital Management and Compensation Committee approved increases to executive compensation for its top officers. The annual base salary of President and CEO Ben M. Palmer was raised from approximately $637,000 to $750,000, effective retroactively as of May 16, 2026. The annual base salary of Vice President, Chief Financial Officer, Treasurer and Corporate Secretary Michael L. Schmit was raised from approximately $361,000 to $530,000, also effective retroactively as of May 16, 2026. For 2026, Mr. Schmit’s target annual cash bonus opportunity was set at 85% of his annual base salary. The company states that these changes do not alter other material terms of their compensation arrangements.
RPC, Inc. reported second quarter 2026 revenues of 460,869 (in thousands), up 9.5 percent from the prior year, driven by stronger pressure pumping, downhole tools, and coiled tubing within Technical Services, partly offset by weaker wireline and Support Services. Operating income edged down to 14,771 (in thousands), while net income rose to 12,075 (in thousands), or 0.05 diluted earnings per share, with a net income margin of 2.6 percent.
For the first six months of 2026, revenues increased 21.5 percent to 915,624 (in thousands), but net income declined to 12,930 (in thousands) from 22,178 (in thousands), reducing net margin to 1.4 percent as cost of revenues, acquisition related employment costs of 14,583 (in thousands), and depreciation and amortization of 85,836 (in thousands) grew faster than sales. Net cash provided by operating activities was 74,607 (in thousands), down from 92,943 (in thousands), and free cash flow was 3,770 (in thousands) after capital expenditures of 70,837 (in thousands). The balance sheet shows cash of 179,468 (in thousands), total assets of 1,459,755 (in thousands), notes payable of 10,000 (in thousands) current and 20,000 (in thousands) long term, and stockholders equity of 1,108,749 (in thousands). RPC amended its 100,000 (in thousands) revolving credit facility to extend maturity to June 30, 2031, had no revolver borrowings and 18,200 (in thousands) of letters of credit outstanding, leaving 81,800 (in thousands) available, and continued quarterly dividends of 0.04 dollars per share.
RPC, Inc. reported unaudited second quarter 2026 results for the quarter ended June 30, 2026. Revenue was $460.9 million, up 1% sequentially, with Technical Services up 1% and Support Services up 11% on stronger rental tools activity. Cost of revenues fell to $345.7 million despite higher revenue, while selling, general and administrative expenses rose to $51.5 million.
Net earnings were $12.1 million, or $0.05 per diluted share, versus $0.9 million and $0.00 in 1Q:26, lifting net income margin to 2.6%. Adjusted net income was $17.8 million, or $0.08 per share, and Adjusted EBITDA increased 23.3% to $66.0 million, with a 14.3% margin. Cash and cash equivalents were $179.5 million and the company had no borrowings under its $100 million revolving credit facility, which was amended to extend maturities to June 30, 2031. Year-to-date through 2Q:26, net cash provided by operating activities was $74.6 million and free cash flow $3.8 million. The board declared a regular quarterly cash dividend of $0.04 per share, payable September 10, 2026, to shareholders of record on August 10, 2026.
RPC, Inc. entered into an Amended and Restated Credit Agreement that updates its existing revolving credit facility. The agreement keeps a revolving line of credit of up to $100 million, including a $35 million letter of credit sub-facility and a $35 million swingline sub-facility, all guaranteed by substantially all 100%-owned domestic subsidiaries.
The amended facility extends the termination date for revolving loans from June 22, 2027 to June 30, 2031 and removes the SOFR adjustment from pricing. Key financial covenants require, when trailing four-quarter Adjusted EBITDA is at least $50 million, a maximum consolidated leverage ratio of 2.50:1.00 and a minimum debt service coverage ratio of 2.00:1.00; otherwise, minimum tangible net worth must be at least $400 million. The facility also includes customary negative covenants and events of default.
RPC, Inc. announced that President and CEO Ben M. Palmer plans to retire and leave the Board by the end of 2026 after a 30-year career with the company. The Board has begun a formal search for his successor and expects it to conclude before the end of 2026.
Palmer will continue as President and CEO until a new leader is named or through December 31, 2026, then serve in an advisory role to support a smooth transition. The Board plans to engage an independent search firm and is targeting candidates with strong operational oilfield services experience, growth focus, and financial discipline.
Gunning Patrick J. reported acquisition or exercise transactions in this Form 4 filing.
RPC Inc. director Patrick J. Gunning received a grant of 7,352 shares of Common Stock as equity compensation, which vest immediately. The shares were awarded at no cash cost per share, increasing his directly held position to 40,440 shares following this grant.
Kolstad Gary A reported acquisition or exercise transactions in this Form 4 filing.
RPC Inc. director Gary A. Kolstad received a grant of 7,352 shares of common stock as equity compensation. The award was granted at no cash cost to him and vests immediately, meaning the shares are fully his upon grant. Following this transaction, he directly owns 19,186 shares of RPC common stock. This filing reflects a compensation-related share award rather than an open-market purchase or sale.
Wilson John F reported acquisition or exercise transactions in this Form 4 filing.
RPC Inc. director John F. Wilson received a grant of 7,352 shares of Common Stock as equity compensation. The shares vest immediately and were awarded at a stated price of $0.00 per share, indicating a compensation grant rather than an open-market purchase.
Following this award, Wilson directly holds a total of 34,440 shares of RPC Inc. common stock. This type of transaction is a routine stock-based compensation event and does not represent a discretionary market buy or sell.