Natural Gas Services Group (NGS) has released an update to notify the public and investors about its officers.
On January 29, 2024, Justin C. Jacobs was appointed as the CEO of the Company, effective February 12, 2024, with an initial base salary of $525,000, and will continue to serve on the Board alongside Stephen C. Taylor, who retires but remains Chairman. Jacobs will receive various forms of compensation including a $30,000 signing bonus, performance-based stock awards, annual cash bonuses, and equity compensation. His employment is at-will, with severance benefits under certain termination conditions, and includes standard executive benefits and expense reimbursements. Jacobs also agreed to non-compete and proprietary rights terms and brings extensive prior experience in investment and management roles.
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For a comprehensive understanding of the announcement, you can read the full document here.
