Current Report Filing (8-k)
March 15 2017 - 4:12PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 13, 2017
DRIL-QUIP, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-13439
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74-2162088
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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6401 N. Eldridge Parkway
Houston, Texas
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77041
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code: (713)
939-7711
Check the
appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2):
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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On March 13, 2017, in support of managements decision to institute pay
reductions for company employees worldwide, the Compensation Committee of the Board of Directors (the Board) of Dril-Quip, Inc. (the Company) determined that the Board reduce its own fees and approved reductions of 10% in the
annual fees paid to
non-employee
directors for their service on the Board, effective April 1, 2017 (collectively, the Fee Reduction). The following table sets forth the amounts of such fees
prior to the Fee Reduction (the Original Director Fees) and the reduced fees (the Reduced Director Fees).
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Type of Fee
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Original Director
Fees
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Reduced Director Fees
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Annual Fee for
Non-Employee
Chairman of the Board
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$
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150,000
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$
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135,000
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Annual Fee for Other
Non-Employee
Directors
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$
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75,000
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$
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67,500
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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DRIL-QUIP, INC.
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By:
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/s/ James C. Webster
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James C. Webster
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Vice President General Counsel and Secretary
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Date: March 15, 2017
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