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Mammoth Energy Services Appoints Phil Lancaster as Non-Independent Voting Member of Board

Strategic Insights

— 2 min read

Mammoth Energy Services, Inc. has announced the appointment of Phil Lancaster as a non-independent voting member of its board of directors effective July 1, 2025. This decision comes after Lancaster resigned as Chief Executive Officer (CEO) of the company on June 30, 2025, as previously announced on June 5, 2025. Lancaster's appointment to the board entitles him to receive the annual compensation of $50,000, plus a payment of $5,000 for each meeting attended over the four regularly scheduled meetings per year. The board has also determined that Arthur Amron, the chairman of the board, meets the independence standards set forth in the Nasdaq listing standards, marking the fifth director to meet these standards, with four of the six directors now comprising the majority of the board meeting the independence standards.

Key Takeaways:

  • Phil Lancaster, former CEO of Mammoth Energy Services, has been appointed as a non-independent voting member of the company's board of directors, effective July 1, 2025.
  • Lancaster's appointment comes after his resignation as CEO on June 30, 2025, as previously announced on June 5, 2025.
  • As a non-employee director, Lancaster will receive an annual retainer of $50,000, plus a payment of $5,000 for each meeting attended over the four regularly scheduled meetings per year.
  • Arthur Amron, the chairman of the board, has been determined to meet the independence standards set forth in the Nasdaq listing standards, marking the fifth director to meet these standards.
  • As of July 1, 2025, four of the six directors on the board will meet the independence standards, comprising the majority of the board.
  • Mark Layton, Chief Financial Officer and Secretary, has signed the report on behalf of Mammoth Energy Services, Inc. on June 30, 2025.

Statistics:

  • 1 non-independent voting member, Phil Lancaster, has been appointed to the board of directors.
  • Lancaster will receive an annual retainer of $50,000.
  • He will also receive a payment of $5,000 for each meeting attended over the four regularly scheduled meetings per year.
  • 5 directors, including Arthur Amron, meet the independence standards set forth in the Nasdaq listing standards.
  • As of July 1, 2025, 4 of the 6 directors on the board will meet the independence standards.

Sources:

  • Form 8-K (Current Report) filed with the U.S. Securities and Exchange Commission on June 30, 2025.
  • Mammoth Energy Services, Inc.'s definitive proxy statement on Schedule 14A, filed with the SEC on April 28, 2025.
  • Mammoth Energy Services, Inc.'s Current Report on Form 8-K filed with the SEC on June 5, 2025.

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