RPC, Inc. Raises CEO and CFO Base Salaries in 8-K

What Happened RPC, Inc. (filed Form 8-K on Sept. 8, 2026) announced that its Human Capital Management and Compensation Committee approved changes to executive compensation on Sept. 3, 2026. Ben M. Palmer, President and CEO, received an increase in annual base salary from about $637,000 to $750,000, effective retroactive to May 16, 2026. Michael L. Schmit, Vice President, CFO, Treasurer and Corporate Secretary, received an increase in annual base salary from about $361,000 to $530,000, effective retroactive to May 16, 2026; Mr. Schmit’s target annual cash bonus opportunity for 2026 was also raised to 85% of his base salary. The filing states these changes do not alter other material terms of their compensation arrangements.

Key Details

• Committee action date: September 3, 2026; Form 8-K filed September 8, 2026.
• CEO Ben M. Palmer base salary: increased from ~$637,000 to $750,000 (retroactive to May 16, 2026).
• CFO Michael L. Schmit base salary: increased from ~$361,000 to $530,000 (retroactive to May 16, 2026).
• Mr. Schmit’s 2026 target cash bonus: increased to 85% of his annual base salary.

Why It Matters These approved raises increase RPC’s executive cash compensation commitments and may affect reported compensation expense and cash outlays versus prior expectations. For investors, the changes signal the company is adjusting pay levels for its top executives (CEO and CFO) and increasing the CFO’s bonus target, which could reflect retention, market competitiveness, or incentive alignment priorities disclosed by management. The filing confirms no other material modifications to their compensation arrangements.