Sundar PichaiSundar Pichai earned $164M in 2023

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...

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Ben M. Palmer

CEO of RPC

Education

B.S. in Business Administration from Auburn University

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Energy

Born

January 1, 1966 - 59 years ago

CEO of RPC for

3 years 0 months (May 2022 - Present)

Previous Experience

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

Holdings

See how much did Ben M. Palmer make over time.

Ben M. Palmer's holdings have seen significant fluctuations, reflecting his active engagement in the stock market. His highest trading valuation was approximately $12.91 million in January 2023, showcasing peak confidence in his investments. Over the previous years, he maintained substantial...

Total Stock Sold

$2.34M

RES

$1.58M

121,719 RES shares

MPX

$763.93K

52,000 MPX shares

What if they kept their stock?

If Ben M. Palmer didn't sell their stock, today they would have:
Extra RES121,719 shares worth $395.59K and MPX52,000 shares worth $627.64K.
This is -56.26% and $1.32M less than what they got when they sold the stock.

Insider Trading

See recent insider trades of Ben M. Palmer.

RES

50,000 shares

RES

Apr 23, 2024

Received

RES

120,000 shares

RES

Apr 23, 2024

Received

RES

90,000 shares

RES

May 17, 2022

Received

RES

$78.66K

RES at $5.46/share

Nov 1, 2021

Sale

RES

$172.78K

RES at $5.70/share

Oct 18, 2021

Sale

Compensation History

See how much did Ben M. Palmer make over time.

In 2023, Ben M. Palmer's total compensation reached around $2.39 million. His salary was $600,000, with the bulk coming from a performance-based bonus of $768,000, linked to the company's Operating Cash Flow (OCF). This ensures he is incentivized to drive financial performance. Notably, Palmer received no vested stock this year, focusing instead on cash compensation for performance metrics. In 2022, he earned a total of $2.27 million, showcasing his steady rise in pay. The company does not grant stock options, indicating a preference for performance-focused incentives rather than long-term stock ownership. Palmer's compensation plan aligns his financial incentives with the company's success, which is critical in securing both short-term and long-term goals.

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.

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