Select Water Solutions enters new severance agreements with executive officers

Select Water Solutions, Inc. (NYSE:WTTR), a $1.22 billion market cap company with a strong financial health rating according to InvestingPro, announced Thursday that it has entered into new severance agreements with four of its executive officers. The company, which has maintained profitability over the last twelve months and boasts a healthy current ratio of 2.01, continues to strengthen its executive retention strategy. The agreements were signed by Christopher K. George, Executive Vice President and Chief Financial Officer; Michael C. Skarke, Executive Vice President and Chief Operating Officer; Michael J. Lyons, Executive Vice President and Chief Strategy and Technology Officer; and Cody J. Ortowski, Executive Vice President, Business and Regulatory Affairs.

According to a statement in the company’s SEC filing, the new severance agreements are intended to standardize compensation arrangements among senior management and support the company’s efforts to attract and retain executive talent.

Under the terms of the agreements, if an executive’s employment is terminated by the company without cause or by the executive for good reason, the executive will receive accrued but unpaid base salary, any unpaid annual cash bonus earned for completed performance periods, and unreimbursed business expenses. In addition, subject to the execution of a release of claims, the executive will be entitled to a severance payment equal to one times the sum of their annualized base salary and a bonus amount, a pro-rated annual bonus for the year of termination based on actual performance, and up to twelve months of COBRA premium reimbursement.

If an executive experiences a qualifying termination within 24 months following a change in control, the severance payment increases to two times the sum of their annualized base salary and bonus amount, along with a pro-rated annual bonus and up to 24 months of COBRA premium reimbursement.

The agreement with Mr. Skarke replaces his previous employment contract dated March 1, 2021.

The severance agreements also include restrictive covenants. For Messrs. George, Skarke, and Lyons, these include non-competition and non-solicitation obligations during employment and for twelve months after employment ends. All four executives are subject to confidentiality obligations during and after their employment. The company operates with a moderate debt level, maintaining a debt-to-equity ratio of 0.39, while analysts maintain a strong buy consensus on the stock. For deeper insights into WTTR’s financial metrics and growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.

This information is based on a press release statement included in the company’s recent SEC filing.

In other recent news, Select Water Solutions reported its Q2 2025 earnings, which fell short of expectations. The company announced an earnings per share (EPS) of $0.10, missing the anticipated $0.12, representing a 16.67% negative surprise. Revenue also came in below forecasts at $364.22 million, slightly under the expected $367.53 million, marking a 0.9% shortfall. In addition to the earnings report, Select Water Solutions disclosed its new status as a Founding Member of NYSE Texas, adding a dual listing on the newly launched electronic equities exchange in Dallas. The company will continue to maintain its primary listing on the New York Stock Exchange. These developments reflect Select Water Solutions’ ongoing efforts to expand its market presence and adapt to current financial challenges. No analyst upgrades or downgrades were reported in connection with these announcements.

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