ProPetro, SEC Settle Charges on Ex-CEO’s Undisclosed Perks

Redman resigned last year in the wake of an investigation.

Liz Hampton, Reuters

The U.S. Securities and Exchange Commission said Nov. 22 Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges for failing to properly disclose some of Redman’s executive perks and two stock pledges.

The SEC’s order said Redman charged ProPetro $380,594 worth of personal and travel expenses unrelated to the performance of his duties as CEO and failed to disclose stock pledges for two private real estate transactions, the regulator said in a statement.

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