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Filing Details

Accession Number:: 0000899243-23-015548
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-06-14 17:51:51
Reporting Period:: 2023-06-09

Accepted Time:: 2023-06-14 17:51:51
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
928054	Flotek Industries Inc	FTK	Miscellaneous Chemical Products (2890)	900023731

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1696102	Matthew Wilks	17018 Interstate 20 Cisco TX 76437		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock, Par Value $0.01 Per Share	Acquisiton	2023-06-12	81,345	$0.76	124,402	No	4	P	Indirect	By THRC Holdings, LP
Class A Common Stock, Par Value $0.01 Per Share	Acquisiton	2023-06-13	56,767	$0.80	181,169	No	4	P	Indirect	By THRC Holdings, LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By THRC Holdings, LP
No	4	P	Indirect	By THRC Holdings, LP

Footnotes

The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $0.74 to $0.78 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Matt Wilks, as VP - Investments of THRC Holdings, LP, may be deemed to exercise voting and investment power over the shares of the Issuer's Class A common stock directly owned by THRC Holdings, LP, a Texas limited partnership ("THRC Holdings"), and therefore may be deemed to beneficially own such shares. THRC Holdings, directly holds the securities of the Issuer. THRC Management, LLC, a Texas limited liability company ("THRC Management"), as General Partner of THRC Holdings, has exclusive voting and investment control over the shares of the Issuer's Class A common stock held by THRC Holdings, and therefore may be deemed to beneficially own such shares. Dan Wilks, as sole manager of THRC Management, may be deemed to exercise voting and investment power over the shares of the Issuer's Class A common stock directly owned by THRC Holdings, and therefore may be deemed to beneficially own such shares.
(Continued from Footnote 2) Each Reporting Person disclaims beneficial ownership of all equity securities reported herein except to the extent of its respective pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any equity securities covered by this Form 4.
As reported in a Schedule 13D/A filed June 5, 2023 ("ProFrac 13D"), THRC Holdings owns (i) 70,849,573 shares of Class A Common Stock of ProFrac Holding Corp. ("ProFrac") and (ii) warrants to purchase 42,744 shares of Class A Common Stock of Profrac and may be deemed to beneficially own an additional 61,480,231 shares of Class A Common Stock of ProFrac which are held directly by other members of the applicable Section 13D group (as it relates to the ProFrac 13D). In the aggregate, members of such Section 13D group (as it relates to the ProFrac 13D) beneficially own 83.2% of the outstanding shares of Profrac. ProFrac may be deemed to hold 88,904,715 shares of the Issuer's Class A common stock, representing 50.64% of the outstanding shares of the Issuer's Class A common stock, as reported in the Issuer's proxy statement filed April 28, 2023. Mr. Wilks is also the Executive Chairman of the Board of Directors of Profrac.
The reported price in Column 4 is a weighted average purchase price. These shares were purchased in multiple transactions at prices ranging from $0.79 to $0.80 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.