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): January 4, 2010
NATURAL GAS SERVICES GROUP,
INC.
(Exact
Name of Registrant as Specified in Charter)
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Colorado
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1-31398
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75-2811855
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||
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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508
West Wall Street, Suite 550
Midland,
TX 79701
(Address
of Principal Executive Offices)
(432)
262-2700
(Registrant’s
Telephone Number, Including Area Code)
N/A
(Former
Name or Former Address if Changed Since Last Report)
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 (see General
Instruction A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)).
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-14(c)).
Item 5.02 Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On
January 4, 2010, we granted restricted stock awards totaling 8,276 shares of
common stock under our 2009 Restricted Stock/Unit Plan (the “Plan”) to our
executive officers and certain of our key employees based upon the closing price
of our common stock on January 4, 2010 of $19.25 per share. The
following table summarizes the restricted stock award grants made to our
executive officers.
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Name
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Dollar
Amount
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Number
of Restricted Shares Awarded
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Stephen
C. Taylor, Chief Executive Officer & President
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$79,000
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4,104
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Earl
R. Wait, Vice President - Accounting
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$23,625
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1,227
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James
Hazlett, Vice President – Technical Services
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$23,625
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1,227
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All
shares of common stock issued are subject to a one year vesting requirement,
subject to acceleration (an “Acceleration Event”) in the case of (i) death,
disability, or retirement of the recipient employee, or (ii) a change of control
in the Company, as set forth in the Plan. Thus, except in the case of
an Acceleration Event, if a recipient’s employment is terminated prior to
January 4, 2011, such recipient will forfeit the shares of common stock he has
received in connection with the award described herein.
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.
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NATURAL
GAS SERVICES GROUP, INC.
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Dated:
January 8, 2010
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By:
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/s/
Stephen C. Taylor
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Stephen
C. Taylor
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President
& Chief Executive Officer
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