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Market Information
−Removed: Our Class A Common Stock is listed on the NYSE under the symbol “RNGR,” and there was no public market for our Class B Common Stock.
−Removed: We have a significant number of beneficial shareholders or shareholders whose shares are held in “street name,” where such shares are held by a broker or other nominee, thereby increasing the number holders of record.
−Removed: As of February 28, 2023, there were approximately 140 and no shareholders of record of our Class A Common Stock and Class B Common Stock, respectively.
−Removed: We have not paid any dividends since our inception to holders of our Class A Common Stock.
−Removed: The Company recently announced plans to initiate a capital returns program, which includes authorization for a share buyback program up to $35.0 million in share buybacks over a period of 36 months and approval to initiate a dividend program upon the Company’s achievement of net debt zero, which is currently expected in the second half of 2023.
−Removed: The Company regularly assesses strategic priorities and actively announces any information as it relates to capital returns, and it will continue to do so.
+Added: Our Class A Common Stock is listed on the NYSE under the symbol “RNGR.” We have a significant number of beneficial stockholders or stockholders whose shares are held in “street name,” where such shares are held by a broker or other nominee, thereby increasing the number holders of record.
+Added: As of February 29, 2024, there were approximately 90 stockholders of record of our Class A Common Stock.
+Added: On March 7, 2023, the Board of Directors announced an intention to initiate a quarterly dividend of $0.05 per share during the year.
+Added: The Board of Directors approved the initiation of the quarterly dividend, which first became payable on September 8, 2023 to all stockholders of record as of August 18, 2023.
+Added: Additionally, the Board of Directors declared a second quarterly cash dividend of $0.05 per share payable December 1, 2023 to all stockholders of record as of November 13, 2023.
+Added: The declaration of any future dividends is subject to the Board of Directors’ discretion and approval.
Recent Sales of Unregistered Securities;
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Purchases of Equity Securities by the Issuer and Affiliated Purchasers
+Added: On March 7, 2023, the Company announced that its Board of Directors authorized a share repurchase program, allowing the Company to purchase currently outstanding Class A Common Stock held by non-affiliates, not to exceed $35.0 million in aggregate value.
+Added: Share repurchases may take place from time to time on the open market or through privately negotiated transactions.
+Added: The duration of the share repurchase program is 36 months and may be accelerated, suspended or discontinued at any time without notice.
+Added: On March 4, 2024, the Company announced that its Board of Directors approved for a new share repurchase program authorization not to exceed $50.0 million in aggregate value.
+Added: Share repurchases may take place from time to time on the open market or through privately negotiated transactions.
+Added: The duration of the share repurchase program is 36 months and may be accelerated, suspended or discontinued at any time without notice.
The following table provides information with respect to Class A Common Stock purchases made by the Company during the three months ended December 31, 2023.
Period Total Number of Shares Repurchased
−Removed: Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs
+Added: Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)
+Added: Maximum Number of Shares that May Yet be Purchased Under the Plans or Programs (3)
October 1, 2023 - October 31, 2023 474 $ 13.94 — 2,272,778
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−Removed: (1) Total number of shares repurchased in the fourth quarter of 2022 consists of 6,557 shares withheld by us in satisfaction of withholding taxes due upon the vesting of restricted shares granted to our employees under our Long-Term Incentive Plan.
+Added: (1) Total number of shares repurchased in the fourth quarter of 2023 consists of 1,024,974 shares of Class A Common Stock, at an average price paid per share of $10.28, withheld by the Company in satisfaction of withholding taxes due upon the vesting of restricted shares granted to our employees under the Ranger Energy Services, Inc.
+Added: 2017 Long-Term Incentive Plan and 1,024,500 shares of Class A Common Stock, at an average price paid per share of $10.28, repurchased pursuant to the repurchase program that was announced on March 7, 2023.
+Added: (2) As of December 31, 2023, an aggregate of 1,806,000 shares of Class A Common Stock were purchased for a total of $19.3 million, net of tax since the inception of the repurchase plan announced on March 7, 2023.
+Added: (3) As of December 31, 2023, the maximum number of shares that may yet be purchased under the plan is 1,549,992 shares of Class A Common Stock.
+Added: This is based on the closing price of $10.23 of Ranger Energy Services, Inc.’s Class A Common Stock on the New York Stock Exchange as of December 31, 2023.
Stock Performance Graph
−Removed: The graph below presents a comparison of the cumulative total return on our Class A Common Stock, assuming $100 was invested on August 10, 2017, the initial trading day for our common stock for the NYSE Composite Index and a self- determined peer group, which includes RCP, Inc., ProPetro Holding Corp., Select Energy Services, Inc., Oil States International, Inc., KLX Energy Services Holdings, Inc., Dril-Quip, Inc., Mammoth Energy Services, Inc.
−Removed: and Solaris Oilfield Infrastructure, Inc.
+Added: The graph below presents a comparison of the cumulative total return on our Class A Common Stock, assuming $100 was invested on December 31, 2018 in each of the Company’s Class A Common Stock.
+Added: the NYSE Composite Index and a self- determined peer group, which includes RPC, Inc., ProPetro Holding Corp., Select Water Solutions, Inc., Oil States International, Inc., KLX Energy Services Holdings, Inc., Dril-Quip, Inc., Mammoth Energy Services, Inc., Solaris Oilfield Infrastructure, Inc., and NINE Energy Service, Inc.
The graph and related information should not be deemed “soliciting material” or to be “filed” with the SEC, nor should such information be incorporated by reference into any future filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate such information by reference into such a filing.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.