RPC INC (RES) SEC Filings

Rollins Timothy Curtis reported acquisition or exercise transactions in this Form 4 filing.

RPC Inc director and 10% owner Timothy Curtis Rollins reported new share holdings in RPC Inc. He received a grant of 7,352 shares of common stock as equity compensation that vest immediately at a stated price of $0.0000 per share, increasing his direct ownership to 2,165,710 shares. He also reports indirect ownership of 1,530 shares held by his spouse. A portion of his direct holdings, 1,142,234 shares, reflects a prior pro rata distribution from RCTLOR, LLC made for no consideration on February 27, 2026. The filing notes that Rollins disclaims beneficial ownership of some securities except to the extent of his pecuniary interest.

RPC, Inc. (RES) reported sharply higher revenue but much lower profit for the quarter ended March 31, 2026. Revenues rose 36.6% to $454.8 million, driven mainly by the Pintail acquisition and growth in pressure pumping, downhole tools and coiled tubing. Technical Services revenue increased 39.3%, while Support Services slipped 2.7% on weaker rental tools pricing and activity.

Despite this growth, net income fell to $0.9 million from $12.0 million, with net margin dropping to 0.2%. Results were pressured by higher cost of revenues, increased selling, general and administrative expenses, and $7.3 million of acquisition-related employment costs tied to Pintail, which also helped push the effective tax rate to 80.1%.

Adjusted EBITDA improved to $53.5 million, and operating cash flow was $31.2 million, though free cash flow was slightly negative after $32.1 million of capital expenditures. RPC ended the quarter with $200.7 million in cash and no borrowings on its $100 million credit facility, while a $50 million Seller Note from the Pintail deal remains outstanding.

RPC, Inc. reported first-quarter 2026 revenue of $454.8 million, up 7% from the prior quarter, driven by stronger activity in its Technical Services segment. Technical Services revenue rose to $434.3 million, while Support Services revenue was essentially flat at $20.5 million.

Net income was $0.9 million, or $0.00 per diluted share, improving from a prior-quarter loss. Adjusted net income was $7.6 million with adjusted EPS of $0.03, down slightly sequentially. Adjusted EBITDA fell to $53.5 million, with an 11.8% adjusted EBITDA margin. Cash stood at $200.7 million, free cash flow was modestly negative, and the company maintained a $0.04 quarterly dividend.

RPC Inc filed an initial Form 3 for director Wesley N. Slagle. The filing lists his beneficial ownership of RPC common stock as 0 shares held directly, so it does not show any purchase or sale activity, only that no common shares are currently reported.

RPC, Inc. reported results of its 2026 Annual Meeting and updated a prior disclosure about director roles. Gary Kolstad, previously elected as an independent director, was appointed to the Board’s Human Capital Management and Compensation Committee and the Audit Committee, and will chair the Human Capital Management and Compensation Committee.

Stockholders elected ten director nominees and ratified Grant Thornton LLP as independent registered public accounting firm for the year ending December 31, 2026. They also gave advisory approval to the company’s executive compensation program, approved and ratified prior grants of performance stock units to the Chief Executive Officer and the Executive Chairman, and approved amendments to the 2024 Stock Incentive Plan. These votes collectively affirm the company’s current leadership, compensation structure, and equity incentive framework.

RPC, Inc. announced that its Board of Directors declared a regular quarterly cash dividend of $0.04 per share. The dividend will be paid on June 10, 2026 to common stockholders of record at the close of business on May 11, 2026.

RPC provides specialized oilfield services and equipment to independent and major oil and gas companies across key U.S. regions and selected international markets.

RPC, Inc. filed a Proxy Statement Supplement adding three non-routine proposals to its April 28, 2026 Annual Meeting: (1) Proposal 5 to approve and ratify performance stock unit awards granted to CEO Ben M. Palmer in 2025 and 2026; (2) Proposal 6 to approve and ratify a 2026 PSU award granted to Executive Chairman Richard A. Hubbell; and (3) Proposal 7 to amend the 2024 Stock Incentive Plan to remove individual annual grant caps for executives (while adding a $750,000 annual limit for non-employee directors).

The supplement discloses that the Palmer grants could pay up to 125,083 shares (2025 award) and 154,080 shares (2026 award) at maximum (before dividend equivalents and subject to TSR +/-20%), and that the Hubbell award could pay up to 92,400 shares at maximum (before dividend equivalents and subject to TSR +/-20%). The Board formed a special committee after a March 20, 2026 demand letter alleging Plan-limit exceedances; the committee recommends stockholder ratification.

RPC, Inc. is asking stockholders to vote at its 2026 Annual Meeting on April 28, 2026 on three main items: electing ten directors for one-year terms, ratifying Grant Thornton LLP as independent auditor for 2026, and approving a nonbinding advisory vote on executive compensation. The company highlights 2025 results with revenue of $1.6 billion, diluted EPS of $0.15, operating cash flow of about $201 million, and year-end cash of roughly $210 million. Management emphasizes continuing investment in new technologies and services, a strong balance sheet and disciplined capital deployment. The proxy also details board structure, committee membership, director independence under NYSE “controlled company” rules, director and executive pay, and performance-based incentive plans that tie bonuses and equity awards to metrics such as operating cash flow and multi‑year EBITDA and total shareholder return.