Ben M. Palmer is the CEO of RPC, Inc. since May 2022 and has also held a position at Marine Products Corp. around the same time. He has a solid background in finance, with a B.S. in Business Administration from...

Current Market Cap

$1.25B

Number of Employees

2.69K

Total Compensation

2022 - 2023

Trending down by -38.70% last year
Showing total compensation for the last 2022 - 2023

Stock

Down by -100.00% last year

Salary

Up by 10.34% last year

Bonus

Down by -14.67% last year

Other

Up by 4.20% last year

Year

2023

Total Compensation

$1.39M

Salary

$600.00K

Board Justification

The compensation philosophy is designed to attract, retain, and reward successful executive officers, aligning their interests with those of stockholders through performance-based incentives.

Bonus

$768.00K

Board Justification

Annual performance-based incentive cash compensation based on Operating Cash Flow (OCF) performance metrics for 2023.

Other

$25.05K

Board Justification

Includes automobile allowance of $8,400 and 401(k) Plan Company match of $14,850.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants were vested in 2023 as the focus is on performance-based compensation and stock options are not included in total compensation calculations.

Performance Metrics

The primary performance metric for 2023 was Operating Cash Flow (OCF), with a target set at $140 million and actual performance achieving $199.6 million.

SEC Filing

From March 14, 2024

Ben M. Palmer

CEO of RPC

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Education

B.S. in Business Administration from Auburn University

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1966 - 58 years ago

Is Founder?

No

Current Tenure

2 years 6 months (May 2022 - Present)

Previous Experience

Vice President, Chief Financial Officer of RPC, Inc. from 1996 to May 17, 2022.

View Holdings

Insider Holdings of Ben M. Palmer

MPXRES

$4.58M

-$1.56M (-25.48%)

Last Insider Trade

RES

50,000 shares

RES

Apr 23, 2024

Received