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Quotes & Info
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| TGE > SEC Filings for TGE > Form 8-K on 28-Oct-2008 | All Recent SEC Filings |
28-Oct-2008
Change in Directors or Principal Officers
Appointment of Chief Financial Officer. On October 23, 2008, the Board of Directors of TGC Industries, Inc. (the "Company") appointed James K. Brata to the position of Chief Financial Officer ("CFO") effective October 23, 2008. In his capacity as CFO, Mr. Brata will assume the duties as the Company's Principal Financial Officer and Principal Accounting Officer. On June 16, 2008, Mr. Brata was hired to the position of Vice President, which information was reported in the Form 8-K filed on June 20, 2008. Mr. Brata will maintain his position as Vice President.
Mr. Brata, age 53, is the former Assistant Corporate Controller of Sport Supply Group, an institutional direct marketer of sports equipment and supplies. Prior to his employment at Sport Supply Group, Mr. Brata owned and operated South TX Outfitters, an executive development and event planning firm, from July of 2002 to December of 2006. Neither Sport Supply Group nor South TX Outfitters has, or at any time in the past has had, an affiliate or other relationship with the Company. There is no family relationship between Mr. Brata and any of the Company's directors or executive officers.
Mr. Brata's annual salary will continue to be $125,000. The Company has not entered into an employment contract with Mr. Brata. In addition, on June 16, 2008, the Company's Stock Awards Committee granted to Mr. Brata a restricted stock award for 10,000 shares of the Company's common stock, with annual vesting of one-third of the shares beginning June 16, 2009. Other than compensation paid in the ordinary course of business, Mr. Brata has no material contract or arrangement with the Company.
Retirement of Chief Financial Officer, Secretary and Treasurer. Kenneth W. Uselton stepped down as the Company's Chief Financial Officer, Secretary, and Treasurer, effective October 22, 2008. The Company has not yet appointed a successor to replace Mr. Uselton as Secretary and Treasurer. Mr. Uselton previously notified the Board of Directors of his intention to retire, which information was reported in the Form 8-K filed on June 20, 2008.
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