Form 8-K - Current report
July 17 2024 - 5:01PM
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2024-07-16
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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): July 16, 2024
VERTEX
ENERGY, INC.
(Exact
name of registrant as specified in its charter)
Nevada |
001-11476 |
94-3439569 |
(State or other jurisdiction
of
incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
1331
Gemini Street
Suite 250
Houston, Texas |
77058 |
(Address of principal
executive offices) |
(Zip Code) |
Registrant’s
telephone number, including area code: (866) 660-8156
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
Trading
Symbol(s) |
Name
of each exchange on
which registered |
Common
Stock
$0.001 Par Value Per Share |
VTNR |
The NASDAQ Stock Market LLC
(Nasdaq
Capital Market) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
(b) On
July 16, 2024, and effective on July 25, 2024, Mr. James Rhame resigned as Chief Operating Officer (COO) of Vertex Energy, Inc. (the
“Company”) to retire from working full-time and pursue other interests outside of the Company.
(c) On July 16, 2024, and effective on July 25, 2024, the Board of Directors
appointed Mr. Douglas S. Haugh, the Chief Commercial Officer of the Company, as Interim Chief Operating Officer of the Company to fill
the vacancy left by Mr. Rhame’s resignation. Mr. Haugh’s age, business experience and his employment agreement, are each described in the Company’s
Definitive Proxy Statement on Schedule
14A, filed with the Securities and Exchange Commission on April 29, 2024, under the headings “Information About Our Executive
Officers” and “Executive Compensation” and is incorporated by reference herein. Mr. Haugh is not party to any material
plan, contract or arrangement (whether or not written) with the Company, except for his employment agreement, and there are no arrangements
or understandings between Mr. Haugh and any other person pursuant to which Mr. Haugh was selected to serve as an officer of the Company,
nor is Mr. Haugh a participant in any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K. There
are no family relationships between any director or executive officer of the Company, including Mr. Haugh.
Item
8.01 Other Events.
On
July 17, 2024, the Company issued a press release disclosing Mr. Rhame’s resignation as COO.
A
copy of the press release is attached hereto as Exhibit 99.1, and is incorporated into this Item 8.01 by
reference.
Item
9.01 Financial Statements and Exhibits.
Exhibit
No. |
|
Description |
99.1* |
|
Press Release dated July 17, 2024 |
104 |
|
Inline XBRL for the cover page of this
Current Report on Form 8-K |
*
Filed herewith.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
VERTEX
ENERGY, INC. |
|
|
|
|
Date: July 17, 2024 |
By: |
/s/
Chris Carlson |
|
|
|
Chris Carlson |
|
|
|
Chief Financial Officer |
|
Vertex Energy 8k
Exhibit
99.1
VERTEX
ENERGY ANNOUNCES RETIREMENT OF CHIEF OPERATING OFFICER, JAMES RHAME
HOUSTON
– July 17, 2024 – Vertex Energy, Inc. (NASDAQ:VTNR) ("Vertex" or the "Company"), a leading specialty
refiner and marketer of high-quality refined products, today announced that Mr. James Rhame will be retiring as Chief Operating Officer
(COO) effective July 25th, 2024. Mr. Rhame has agreed to continue supporting Vertex in a consulting role through the end of
2024. Upon Mr. Rhame’s retirement, Mr. Doug Haugh, Vertex’s Chief Commercial Officer, will also assume the role of interim
Chief Operating Officer.
Benjamin
P. Cowart, President and CEO of Vertex, stated, “In 2022, we invited James to join our team and assist with the acquisition and
transition of our refinery located in Mobile, Alabama, aware that he was planning to retire within a couple of years. Throughout this
time, James has played a pivotal role in developing the talent and expertise to safely and effectively embed the Mobile, Alabama refinery
into Vertex’s asset footprint. His guidance has been invaluable, and we look forward to his continued contributions in his new
role as a consultant.”
Mr.
Haugh brings extensive experience and a proven track record in leading both commercial and operational functions. “James’s
commitments to safety and operational excellence have set an incredible example for all of us at Vertex and I am honored to continue
his work advancing Vertex toward its strategic initiatives,” said Mr. Haugh. “We are committed to a seamless transition and
maintaining our momentum as a reliable producer of refined products on the Gulf Coast.”
ABOUT
VERTEX ENERGY
Vertex
Energy is a leading energy transition company that specializes in producing high-quality refined products. The Company’s innovative
solutions are designed to enhance the performance of its customers and partners while also prioritizing sustainability, safety, and operational
excellence. With a commitment to providing superior products and services, Vertex Energy is dedicated to shaping the future of the energy
industry.
INVESTOR
CONTACT
IR@vertexenergy.com
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