Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 10, 2020, Flotek Industries, Inc. (the "Company") entered into a
Purchase Agreement (the "Purchase Agreement") with its Chief Executive Officer
and President, John W. Gibson, Jr. Pursuant to the Purchase Agreement,
Mr. Gibson purchased 200,000 shares of the Company's common stock at a price of
$1.69 per share. The Purchase Agreement, which includes customary
representations and warranties and indemnification provisions, was entered into
in connection with Mr. Gibson's right to purchase Company securities set forth
in Section 3(f) of the previously announced Employment Agreement between the
Company and Mr. Gibson, dated effective as of December 22, 2019.
The foregoing description of the Purchase Agreement is qualified in its entirety
by reference to the copy thereof filed as Exhibit 10.1 to this Form 8-K, which
is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
10.1 Purchase Agreement, dated January 10, 2020, between the Company and
John W. Gibson, Jr.
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