Corey Booker

About Corey Booker

Dr. Corey Booker (age 49) has served as an independent director of Mammoth Energy Services, Inc. since August 2020. He is the founder and CEO of Bedside LLC (formerly OnPulse) since November 2012, and previously practiced as a maternal-fetal specialist at Duke University Hospital (2012–2017). He holds an M.D. from Creighton University and a Master’s in Clinical Informatics from Duke’s Fuqua School of Business; he also served as a Washington Health Policy Fellow at NCQA. He was re-elected at the June 11, 2025 annual meeting with strong support.

Past Roles

External Roles

Board Governance

• Independence: The Board determined Dr. Booker is independent under Nasdaq rules; he serves on the Audit Committee with all members deemed independent.
• Committee assignments: Audit Committee member; Audit Committee chaired by Arthur Smith (retiring after 2025 meeting), with Booker and James Palm as members.
• Attendance: In 2024, the Board held 1 in-person and 8 virtual meetings; each director attended all Board and applicable committee meetings. Independent directors held five executive sessions.
• Director election and shareholder support: On June 11, 2025, re-elected with 34,566,830 FOR, 831,432 AGAINST, 23,147 ABSTAIN; non-votes 8,349,186.
• Say-on-pay: 2025 advisory approval received 34,833,518 FOR, 424,587 AGAINST, 163,304 ABSTAIN; non-votes 8,349,186.
• Lead Independent Director transition: Arthur Smith served as Lead Independent Director; he did not stand for re-election, and the Nominating Committee is searching for a new director who qualifies as the “audit committee financial expert.”

Fixed Compensation

Notes:

• 2024 RSU grant size outstanding at year-end: 27,856 RSUs per director, vesting June 11, 2025.
• Director compensation paid in quarterly installments; equity under 2024 Plan.

Performance Compensation

Other Directorships & Interlocks

• Major shareholder influence context: Wexford Capital LP owns ~45.9% of TUSK; related-party transactions exist with Wexford and affiliates, reviewed/approved by the independent Audit Committee. No specific Booker-related conflicts disclosed.

Expertise & Qualifications

• Clinical informatics and health care operations expertise; CEO experience at Bedside LLC.
• Governance experience via HarborPath finance leadership and task force roles.
• Independent Audit Committee member with Board-affirmed financial literacy at the committee level (committee members are financially literate; Smith designated financial expert).

Equity Ownership

• Director stock ownership guidelines: Non-employee directors must own stock equal to 4x annual cash compensation within five years; compliance status not disclosed.
• Hedging/pledging: Company prohibits hedging and pledging by directors; no pledges outstanding for directors.

Governance Assessment

• Strengths

  • Independence and audit oversight: Booker is independent and serves on the Audit Committee that reviews related-party transactions, including the term loan with Wexford that was approved by independent directors and fully repaid in Oct 2024.
  • Attendance and engagement: Full attendance at Board and committee meetings in 2024; executive sessions held five times, supporting independent oversight.
  • Shareholder support: Strong re-election vote counts, and high say-on-pay approval, indicating investor confidence in governance and pay practices.
  • Alignment: Annual director RSU grants and stock ownership guidelines aim to align directors with shareholders.

• Watch items

  • Concentrated ownership and related-party exposure: Wexford holds ~45.9% and has ongoing affiliations (e.g., Brim joint venture; prior term credit facility), requiring continued robust Audit Committee oversight.
  • Audit Committee transition: With Arthur Smith retiring, the Board is seeking an audit committee financial expert; interim continuity and expertise coverage should be monitored.

• Policies supporting investor confidence

  • Insider trading, anti-hedging/anti-pledging and clawback policies (for executives) are in place, aligning governance practices with market standards.

RED FLAGS

• Potential conflict concentration: Significant ownership by Wexford and multiple related-party interactions (credit facility, JV, leasing) elevate conflict risk; mitigation depends on independent committee oversight and disclosure rigor.
• Audit committee expertise transition risk: Pending replacement of the designated “financial expert” could impact near-term committee effectiveness if not promptly addressed.

Overall, Dr. Booker’s independence, audit committee role, full attendance, and equity-based director pay support governance quality; continued vigilance on Wexford-related transactions and audit committee expertise refresh remain critical for investor confidence.