XML 56 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
2024 Pay vs Performance Disclosure
Tabular Pay vs. Performance Disclosures
(1)
 
    
Summary
        
Summary
       
Average Summary
   
Average
   
Value of Fixed $100 Investment Based On:
         
    
Compensation
   
Compensation
   
Compensation
   
Compensation
  
Compensation
   
Compensation
   
DNOW
   
PHLX Oil Service
         
    
Table Total
   
Actually Paid
   
Table Total
   
Actually Paid
  
Table Total
   
Actually Paid
   
Total Shareholder
   
Sector Index Total
   
Net
  
EBITDA Excluding
Year
   
for PEO 1
   
to PEO 1
(2)
  
for PEO 2
   
to PEO 2
(2)
 
for Non-PEO NEOs
   
for Non-PEO NEOs 
(2) 
   
Return
(3)
  
Shareholder Return 
(3) 
   
Income (Loss)
  
Other Costs
(4)
2024
   
$6,081,037
   
$7,015,251
   
–
   
–
  
$1,548,036
   
$1,704,142
   
$116
   
$102
   
$81,000,000
  
$176,000,000
2023
   
$5,580,418
   
$3,130,263
   
–
   
–
  
$1,448,379
   
$1,035,809
   
$101
   
$115
   
$135,000,000
  
$184,000,000
2022
   
$5,462,901
   
$10,850,759
   
–
   
–
  
$1,439,842
   
$2,421,547
   
$113
   
$113
   
$128,000,000
  
$175,000,000
2021
   
$5,988,481
   
$5,474,012
   
–
   
–
  
$1,329,206
   
$1,291,068
   
$76
   
$70
   
$5,000,000
  
$45,000,000
2020
   
$1,274,988
   
$90,220
   
$675,231
   
($537,929)
  
$519,014
   
$133,931
   
$64
   
$58
   
($427,000,000)
  
($47,000,000)
 
  1.
Mr. Cherechinsky served as our principal executive officer for the full year for each of 2024, 2023, 2022, and 2021 and for a portion of 2020 (“PEO 1”). Mr. Alario served as our principal executive officer for a portion of 2020 (“PEO 2”). For each of 2024, 2023, 2022, 2021, and 2020, our
non-PEO
named executive officers included Mr. Johnson, Mr. Chang, Ms. Munson, and Ms. Surratt.
 
 
  2.
Equity compensation fair value calculated based on assumptions determined in accordance with FASB ASC Topic 718.
 
 
  3.
For each of 2024, 2023, 2022, 2021 and 2020, total shareholder return for the Company and the peer group was calculated as the yearly percentage change in cumulative total shareholder return based on a deemed fixed investment of $100 at market close on December 31, 2019. The yearly percentage change in cumulative total shareholder return was measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for the period from December 31, 2019 through and including the last day of the covered fiscal year (the “Measurement Period”), assuming dividend reinvestment, plus (ii) the difference between stock price per share at the end and the beginning of the Measurement Period, divided by (b) stock price per share at the beginning of the Measurement Period. For purposes of this pay versus performance disclosure, our peer group consists of the PHLX Oil Service Sector Index. For purposes of calculating the Peer Group total shareholder return, the returns of each component issuer of the group were weighted according to the respective issuers’ stock market capitalization at the beginning of the Measurement Period. Because fiscal years are presented in the table in reverse chronical order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time.
 
 
  4.
EBITDA
excluding other costs (referred to as “EBITDA” within this document) is reconciled in the Company’s 2024 Form
10-K
to the most comparable GAAP financial measure. This financial measure excludes the impact of certain other amounts and is not calculated in accordance with GAAP.
 
PEOs Compensation Actually Paid Calculation Detail
 
    
Year
Compensation Element
   
 2020 (PEO 1) 
  
 2021 (PEO 1) 
   
 2022 (PEO 1) 
   
 2023 (PEO 1) 
  
 2024 (PEO 1) 
   
 2020 (PEO 2) 
SCT Reported Total Compensation
   
$1,274,988
  
$5,988,481
   
$5,462,901
   
$5,580,418
  
$6,081,037
   
$675,231
Aggregate SCT Reported Equity Compensation (-)
   
$706,204
  
$4,305,835
   
$3,232,886
   
$3,331,165
  
$3,765,881
   
$0
Year-End
Fair Value of Awards Granted During the FY & Outstanding (+)
   
$509,175
  
$3,548,758
   
$5,111,796
   
$2,543,085
  
$3,650,088
   
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Outstanding (+)
   
($647,694)
  
$53,500
   
$3,436,810
   
($1,654,346)
  
$628,952
   
$0
Vesting Date Fair Value of Awards Granted & Vested During the Covered FY (+)
   
$0
  
$0
   
$0
   
$0
  
$0
   
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Vesting During Covered FY (+)
   
($340,044) 
  
$189,108
  
$72,138
  
($7,729)
 
$421,055
  
($1,213,160) 
  
 
  
 
   
 
   
 
  
 
   
 
Compensation Actually Paid Determination
   
$90,220
  
$5,474,012
   
$10,850,759
   
$3,130,263
  
$7,015,251
   
($537,929)
  
 
  
 
   
 
   
 
  
 
   
 
Non-PEO
NEOs Average Compensation Actually Paid Calculation Detail
 
    
Year
Compensation Element
   
   2020   
  
   2021   
   
   2022   
   
   2023   
  
   2024   
SCT Reported Total Compensation
   
$519,014
  
$1,329,206
   
$1,439,842
   
$1,448,379
  
$1,548,036
Aggregate SCT Reported Equity Compensation (-)
   
$263,181
  
$667,673
   
$579,239
   
$596,830
  
$723,997
Year-End
Fair Value of Awards Granted During the FY & Outstanding (+)
   
$189,733
  
$550,281
   
$915,878
   
$455,634
  
$702,119
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Outstanding (+)
   
($189,765)
  
$20,191
   
$626,032
   
($267,774)
  
$112,690
Vesting Date Fair Value of Awards Granted & Vested During the Covered FY (+)
   
$0
 
$0
  
$0
  
$0
 
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Vesting During Covered FY (+)
   
($121,870)
  
$59,063
  
$19,034
  
($3,600)
 
$65,293
  
 
  
 
   
 
   
 
  
 
Compensation Actually Paid Determination
   
$133,931
  
$1,291,068
   
$2,421,547
   
$1,035,809
  
$1,704,142
  
 
  
 
   
 
   
 
  
 
        
Company Selected Measure Name EBITDA excluding other costs        
Named Executive Officers, Footnote For each of 2024, 2023, 2022, 2021, and 2020, our
non-PEO
named executive officers included Mr. Johnson, Mr. Chang, Ms. Munson, and Ms. Surratt. 		       
Peer Group Issuers, Footnote For each of 2024, 2023, 2022, 2021 and 2020, total shareholder return for the Company and the peer group was calculated as the yearly percentage change in cumulative total shareholder return based on a deemed fixed investment of $100 at market close on December 31, 2019. The yearly percentage change in cumulative total shareholder return was measured as the quotient of (a) the sum of (i) the cumulative amount of dividends for the period from December 31, 2019 through and including the last day of the covered fiscal year (the “Measurement Period”), assuming dividend reinvestment, plus (ii) the difference between stock price per share at the end and the beginning of the Measurement Period, divided by (b) stock price per share at the beginning of the Measurement Period. For purposes of this pay versus performance disclosure, our peer group consists of the PHLX Oil Service Sector Index. For purposes of calculating the Peer Group total shareholder return, the returns of each component issuer of the group were weighted according to the respective issuers’ stock market capitalization at the beginning of the Measurement Period. Because fiscal years are presented in the table in reverse chronical order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time.        
Adjustment To PEO Compensation, Footnote
PEOs Compensation Actually Paid Calculation Detail
 
    
Year
Compensation Element
   
 2020 (PEO 1) 
  
 2021 (PEO 1) 
   
 2022 (PEO 1) 
   
 2023 (PEO 1) 
  
 2024 (PEO 1) 
   
 2020 (PEO 2) 
SCT Reported Total Compensation
   
$1,274,988
  
$5,988,481
   
$5,462,901
   
$5,580,418
  
$6,081,037
   
$675,231
Aggregate SCT Reported Equity Compensation (-)
   
$706,204
  
$4,305,835
   
$3,232,886
   
$3,331,165
  
$3,765,881
   
$0
Year-End
Fair Value of Awards Granted During the FY & Outstanding (+)
   
$509,175
  
$3,548,758
   
$5,111,796
   
$2,543,085
  
$3,650,088
   
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Outstanding (+)
   
($647,694)
  
$53,500
   
$3,436,810
   
($1,654,346)
  
$628,952
   
$0
Vesting Date Fair Value of Awards Granted & Vested During the Covered FY (+)
   
$0
  
$0
   
$0
   
$0
  
$0
   
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Vesting During Covered FY (+)
   
($340,044) 
  
$189,108
  
$72,138
  
($7,729)
 
$421,055
  
($1,213,160) 
  
 
  
 
   
 
   
 
  
 
   
 
Compensation Actually Paid Determination
   
$90,220
  
$5,474,012
   
$10,850,759
   
$3,130,263
  
$7,015,251
   
($537,929)
  
 
  
 
   
 
   
 
  
 
   
 
        
Non-PEO NEO Average Total Compensation Amount $ 1,548,036 $ 1,448,379 $ 1,439,842 $ 1,329,206 $ 519,014
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,704,142 1,035,809 2,421,547 1,291,068 133,931
Adjustment to Non-PEO NEO Compensation Footnote
Non-PEO
NEOs Average Compensation Actually Paid Calculation Detail
 
    
Year
Compensation Element
   
   2020   
  
   2021   
   
   2022   
   
   2023   
  
   2024   
SCT Reported Total Compensation
   
$519,014
  
$1,329,206
   
$1,439,842
   
$1,448,379
  
$1,548,036
Aggregate SCT Reported Equity Compensation (-)
   
$263,181
  
$667,673
   
$579,239
   
$596,830
  
$723,997
Year-End
Fair Value of Awards Granted During the FY & Outstanding (+)
   
$189,733
  
$550,281
   
$915,878
   
$455,634
  
$702,119
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Outstanding (+)
   
($189,765)
  
$20,191
   
$626,032
   
($267,774)
  
$112,690
Vesting Date Fair Value of Awards Granted & Vested During the Covered FY (+)
   
$0
 
$0
  
$0
  
$0
 
$0
Year-Over-Year Change in Fair Value of Awards Granted During Prior FY & Vesting During Covered FY (+)
   
($121,870)
  
$59,063
  
$19,034
  
($3,600)
 
$65,293
  
 
  
 
   
 
   
 
  
 
Compensation Actually Paid Determination
   
$133,931
  
$1,291,068
   
$2,421,547
   
$1,035,809
  
$1,704,142
  
 
  
 
   
 
   
 
  
 
        
Compensation Actually Paid vs. Total Shareholder Return LOGO        
Compensation Actually Paid vs. Net Income LOGO        
Compensation Actually Paid vs. Company Selected Measure LOGO        
Tabular List, Table
The following lists what we believe represent the most important performance measures used to link compensation actually paid to our PEO and
non-PEO
NEOs for 2024 to our performance:
 
  1.
EBITDA Excluding Other Costs 2. Net Working Capital (NWC) 3. Return on Capital Employed (ROCE) 4. Relative TSR (rTSR)
       
Total Shareholder Return Amount $ 116 101 113 76 64
Peer Group Total Shareholder Return Amount 102 115 113 70 58
Net Income (Loss) $ 81,000,000 $ 135,000,000 $ 128,000,000 $ 5,000,000 $ (427,000,000)
Company Selected Measure Amount 176,000,000 184,000,000 175,000,000 45,000,000 (47,000,000)
Measure:: 1          
Pay vs Performance Disclosure          
Name EBITDA Excluding Other Costs        
Non-GAAP Measure Description
EBITDA
excluding other costs (referred to as “EBITDA” within this document) is reconciled in the Company’s 2024 Form
10-K
to the most comparable GAAP financial measure. This financial measure excludes the impact of certain other amounts and is not calculated in accordance with GAAP. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Net Working Capital (NWC)        
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on Capital Employed (ROCE)        
Measure:: 4          
Pay vs Performance Disclosure          
Name Relative TSR (rTSR)        
Mr Cherechinsky [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 6,081,037 $ 5,580,418 $ 5,462,901 $ 5,988,481 $ 1,274,988
PEO Actually Paid Compensation Amount $ 7,015,251 $ 3,130,263 $ 10,850,759 $ 5,474,012 90,220
PEO Name Mr. Cherechinsky Mr. Cherechinsky Mr. Cherechinsky Mr. Cherechinsky  
Mr Alario [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 0 $ 0 $ 0 $ 0 675,231
PEO Actually Paid Compensation Amount 0 0 0 0 $ (537,929)
PEO Name         Mr. Alario
PEO | Mr Cherechinsky [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,765,881 3,331,165 3,232,886 4,305,835 $ 706,204
PEO | Mr Cherechinsky [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,650,088 2,543,085 5,111,796 3,548,758 509,175
PEO | Mr Cherechinsky [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 628,952 (1,654,346) 3,436,810 53,500 (647,694)
PEO | Mr Cherechinsky [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Mr Cherechinsky [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 421,055 (7,729) 72,138 189,108 (340,044)
PEO | Mr Alario [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr Alario [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr Alario [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr Alario [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr Alario [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (1,213,160)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 723,997 596,830 579,239 667,673 263,181
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 702,119 455,634 915,878 550,281 189,733
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 112,690 (267,774) 626,032 20,191 (189,765)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 65,293 $ (3,600) $ 19,034 $ 59,063 $ (121,870)