The former CEO of a Texas-based oilfield services company will pay a $195,046 penalty to settle charges levied by the Securities and Exchange Commission (SEC) related to the company’s failure to disclose some of his executive perks and stock pledges to investors.
ProPetro Holding Corp. and its founder and former CEO Dale Redman were charged with failing to report the company paid $380,594 worth of Redman’s personal and travel expenses that were not related to his duties as CEO, as well as $47,591 in additional, authorized perks.
