Ben M. Palmer

President and Chief Executive Officer at RPC

Board

Since May 17, 2022

Age

62 years

Education

Holds a Bachelor of Science in Business Administration from Auburn University.

Tenure

Joined RES in 1996 as Vice President, Chief Financial Officer, and Treasurer, assumed the role of Corporate Secretary in 2018, and was promoted to President and Chief Executive Officer on May 17, 2022.

Also at RPC

RAH

Richard A. Hubbell

Executive Chairman of the Board

MLS

Michael L. Schmit

Vice President, CFO, Treasurer, Secretary

About

Ben M. Palmer has built a distinguished career in the financial sector, underpinned by extensive experience in financial operations and executive management. Beginning his career at Arthur Andersen LLP where he spent ten years honing his skills, he quickly advanced to high-level roles that would shape his future leadership journey.

His professional path took a significant turn when he joined RES in 1996, taking on the roles of Vice President, Chief Financial Officer, and Treasurer. Over time, his responsibilities expanded with his appointment as Corporate Secretary in 2018, demonstrating his capability to manage diverse aspects of financial strategy and corporate governance.

In May 2022, his longstanding expertise and commitment were recognized through his promotion to President and Chief Executive Officer. Now at 62 years of age, his profound understanding of the industry and strategic vision continue to drive the company's success, reflecting a career dedicated not only to advancing business goals but also to fostering a legacy of strong financial leadership.

$RES Performance Under Ben M. Palmer

Past Roles

Organization	Role	Date Range	Details
RPC, Inc. (RES)	Vice President, Chief Financial Officer, and Treasurer	1996 - 2022	Promoted to President and CEO on May 17, 2022
RPC, Inc. (RES)	Corporate Secretary	2018 - 2022	Held concurrently with other roles until promotion
EQ Services	Chief Financial Officer	3 years	Subsidiary of The Equitable Companies
Arthur Andersen LLP	Audit and Business Advisory Services	10 years	Tenure prior to role at EQ Services

External Roles

Organization	Role	Date Range	Details
Marine Products Corporation	President and Chief Executive Officer and Board of Directors	N/A	N/A

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$600,000	Annual	Fixed annual base salary
Automobile Allowance	$8,400	Annual	Allowance for automobile expenses
401(k) Plan Company Match	$14,850	Annual	Company match contribution to 401(k) plan

Performance Compensation

Data from FY 2023

Annual Incentive Compensation (2023)

Metric	Threshold	Target	Maximum	Actual Result	Bonus Payout	Additional Details
Operating Cash Flow	$110 million	$140 million	$275 million	$199.6 million (142% of target)	$768,000 (128% of target)	Calculated as EBITDA minus CAPEX with discretionary adjustments (pension, litigation, acquisitions); Minimum 79% of target required

Performance Share Units (PSUs) (2023)

Metric	Threshold	Target	Maximum	Vesting Schedule	Additional Details
3-Year Cumulative EBITDA	75% of target: 50% payout	100% of target: 100% payout	120% of target: 200% payout	Cliff-vest on December 31, 2025	26,000 target PSUs; payout adjusted by a TSR Modifier (up to ±20%); if performance conditions not met, units may forfeit