Drilling Tools International Corp 8-K

What Happened

• Drilling Tools International Corporation (DTI) filed an 8-K reporting board and leadership changes. On January 26, 2026 the Board appointed Ira H. Green, Jr. to the Board effective immediately to fill the vacancy following the passing of Thomas Hicks. The company also announced that Wayne Prejean, currently interim Chairman, President and CEO, will become Chairman and Chief Executive Officer effective as of the Company’s next annual meeting of stockholders. The company issued a related press release on January 27, 2026.

Key Details

• Ira H. Green, Jr., age 61, appointed to DTI’s Board on January 26, 2026; will serve until the next annual meeting or earlier resignation/removal.
• Mr. Green’s background: Managing Partner of IHG Advisors, LLC since Oct 2025; previously Managing Director and Head of Energy, Power and Infrastructure Capital Markets at Piper Sandler & Co. (Jan 2016–Sep 2025); over 35 years in investment banking; BBA (UT Austin) and MBA (UVA Darden).
• C. Richard Vermillion informed the Board he will not seek reelection and will end his tenure effective with the next annual meeting; his decision is not due to any disagreement with the Company.
• Board also appointed Wayne Prejean as Chairman & CEO and Jack Furst as lead independent director, both effective at the next annual meeting. No compensation changes for Prejean have been approved at this time; any changes will be disclosed later.
• Press release announcing the Green appointment was filed as Exhibit 99.1 on January 27, 2026.

Why It Matters

• These moves are part of an ongoing Board refreshment and succession plan aimed at aligning board skills with DTI’s strategy. Investors should note the addition of a capital-markets-focused director (Green), which may strengthen the Board’s experience in fundraising and M&A.
• Consolidating the CEO and Chairman roles (with a separate lead independent director named) affects governance structure; the company has not approved any related compensation changes yet and will disclose any future adjustments in filings.