Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | ProFrac Holding Corp. |
Entity Central Index Key | 0001881487 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance As S-K, This disclosure was prepared in accordance with the requirements of Item 402(v) and does not necessarily reflect the value actually realized by our executives, how our executives’ compensation relates to company performance, or how our Compensation Committee evaluates compensation decisions in light of Company or individual NEO performance. Our Compensation Committee does not use “compensation actually paid” as a basis for making compensation decisions, nor does it use net income (as reflected below) for purposes of determining our executive’s incentive compensation. Please refer to the section above entitled “ Compensation Discussion and Analysis 2022 Pay Versus Performance Table Year Summary (1) Compensation (2) Average Non-PEO (3) Average Non-PEO (4) Value of Initial Fixed $100 Net (7) Adjusted (8) Total (5) Peer Group (6) 2022 2,324,952 2,794,186 2,680,709 3,264,406 139.15 115.44 165.10 811.2 2021 248,378 248,378 260,454 260,454 — (9) — (9) (43.5) 134.7 2020 230,798 230,798 313,245 313,245 — (9) — (9) (118.5) 72.8 (1) Matthew D. Wilks was our PEO for each year presented. (2) SEC rules require certain adjustments be made to the “Total” column as reported in the “ Summary Compensation Table ASC Topic 718, Compensation — Stock Compensation Matthew D. Wilks 2020 2021 2022 Summary Compensation Table Total 230,798 248,378 2,324,952 Less Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year — — 1,145,481 Plus Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year — — 1,614,715 Compensation Actually Paid to Mr. Matthew D. Wilks 230,798 248,378 2,794,186 (3) The individuals comprising the non-PEO 2020 2021 2022 Coy Randle Brian Uhlmer Coy Randle Brian Uhlmer Johnathan L. Wilks Robert Willette Coy Randle Lance Turner Johnathan L. Wilks Robert Willette (4) As discussed in footnote (2), SEC rules require certain adjustments to be made in order to determine “compensation actually paid” as reported in the Pay versus Performance table above. The following table details these adjustments for the non-PEO Non-PEO 2020 2021 2022 Summary Compensation Table Total 313,245 260,454 2,680,709 Less Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year — — 1,430,180 Plus Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year — — 2,013,877 Compensation Actually Paid to our Non-PEO 313,245 260,454 3,264,406 (5) The Company’s TSR for each applicable fiscal year is calculated based on a fixed investment of $100 as of May 13, 2022 (the date of the Company’s IPO). (6) Represents the weighted peer group cumulative TSR from May 13, 2022 (the date of the Company’s IPO), weighted according to the respective companies’ stock market capitalization at the beginning of the period. The peer group used for this purpose includes Cactus, Inc., Champion X Corporation, Helmerich & Payne, Inc., Liberty Energy Inc., NexTier Oilfield Solutions Inc., NOV Inc., Patterson-UTI (7) The dollar amounts reported represent the amount of net income (loss) previously disclosed in the Company’s audited GAAP financial statements for the applicable year, as required by Regulation S-X. (8) While we use numerous financial and non-financial Use of 2022 Adjusted EBITDA in Setting Compensation (9) Because the Company’s IPO occurred on May 13, 2022, the Company’s TSR cannot be calculated for the selected period and therefore no meaningful comparison to the Peer Group TSR can be presented. | ||
Company Selected Measure Name | Adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | (3) The individuals comprising the non-PEO 2020 2021 2022 Coy Randle Brian Uhlmer Coy Randle Brian Uhlmer Johnathan L. Wilks Robert Willette Coy Randle Lance Turner Johnathan L. Wilks Robert Willette | ||
Peer Group Issuers, Footnote [Text Block] | Represents the weighted peer group cumulative TSR from May 13, 2022 (the date of the Company’s IPO), weighted according to the respective companies’ stock market capitalization at the beginning of the period. The peer group used for this purpose includes Cactus, Inc., Champion X Corporation, Helmerich & Payne, Inc., Liberty Energy Inc., NexTier Oilfield Solutions Inc., NOV Inc., Patterson-UTI | ||
PEO Total Compensation Amount | $ 2,324,952 | $ 248,378 | $ 230,798 |
PEO Actually Paid Compensation Amount | $ 2,794,186 | 248,378 | 230,798 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) SEC rules require certain adjustments be made to the “Total” column as reported in the “ Summary Compensation Table ASC Topic 718, Compensation — Stock Compensation Matthew D. Wilks 2020 2021 2022 Summary Compensation Table Total 230,798 248,378 2,324,952 Less Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year — — 1,145,481 Plus Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year — — 1,614,715 Compensation Actually Paid to Mr. Matthew D. Wilks 230,798 248,378 2,794,186 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,680,709 | 260,454 | 313,245 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,264,406 | 260,454 | 313,245 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) As discussed in footnote (2), SEC rules require certain adjustments to be made in order to determine “compensation actually paid” as reported in the Pay versus Performance table above. The following table details these adjustments for the non-PEO Non-PEO 2020 2021 2022 Summary Compensation Table Total 313,245 260,454 2,680,709 Less Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year — — 1,430,180 Plus Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year — — 2,013,877 Compensation Actually Paid to our Non-PEO 313,245 260,454 3,264,406 | ||
Tabular List [Table Text Block] | Financial Performance Measures Our Compensation Committee believes in a holistic evaluation of our NEOs’ and the Company’s performance and uses a mix of both financial and non-financial Adjusted EBITDA Adjusted Free Cash Flow Peer Group Analysis | ||
Total Shareholder Return Amount | $ 139.15 | ||
Peer Group Total Shareholder Return Amount | 115.44 | ||
Net Income (Loss) | $ 165,100,000 | $ (43,500,000) | $ (118,500,000) |
Company Selected Measure Amount | 811,200,000 | 134,700,000 | 72,800,000 |
PEO Name | Matthew D. Wilks | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDA | ||
Non-GAAP Measure Description [Text Block] | (8) While we use numerous financial and non-financial Use of 2022 Adjusted EBITDA in Setting Compensation | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Free Cash Flow | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Peer Group Analysis | ||
PEO [Member] | Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (1,145,481) | ||
PEO [Member] | Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,614,715 | ||
Non-PEO NEO [Member] | Grant Date Fair Market Value of Equity Awards Granted During the Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,430,180) | ||
Non-PEO NEO [Member] | Fair Market Value at Fiscal Year End of Outstanding Equity Awards Granted During The Fiscal Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 2,013,877 |