Ray L. Mays, Executive Vice President and Chief Operating Officer of Dawson Geophysical Company, filed a statement of changes in beneficial ownership on October 29, 2026, reporting a share disposition transaction dated October 27, 2026.

Key Highlights

  • Reporting person: Ray L. Mays, EVP and Chief Operating Officer of Dawson Geophysical Company
  • Transaction: 8,116 shares of common stock disposed of (transaction code F) on October 27, 2026
  • Price per share: $2.09, representing the value used to satisfy tax withholding obligations
  • Purpose: Shares were surrendered to cover tax withholding obligations arising from the vesting of restricted stock under the Amended and Restated Dawson Geophysical Company 2006 Stock and Performance Incentive Plan
  • Remaining ownership: Mays directly held 100,534 shares of Dawson Geophysical common stock following the transaction
  • Filing exchange and ticker: NASDAQ:DWSN

COO Ray Mays Reduces Stake via Restricted Stock Vesting Tax Withholding

According to the filing, Ray L. Mays, who serves as Executive Vice President and Chief Operating Officer of Dawson Geophysical Company (NASDAQ:DWSN), disposed of 8,116 shares of the company's common stock (par value $0.01 per share) on October 27, 2026. The transaction was coded "F," which under SEC reporting conventions designates a disposition of shares to satisfy a tax withholding obligation rather than an open-market sale.

The filing's footnote states that the surrendered shares represent the satisfaction of tax withholding obligations connected to the vesting of restricted stock previously granted to Mays under the Amended and Restated Dawson Geophysical Company 2006 Stock and Performance Incentive Plan. The price associated with the transaction was $2.09 per share. Dawson Geophysical Company is a seismic data acquisition and processing services provider. Following this disposition, Mays's direct beneficial ownership in the company stood at 100,534 shares, according to the filing. No derivative securities transactions were reported in the filing.

What Was Disclosed

The filing disclosed that Dawson Geophysical's COO Ray L. Mays surrendered 8,116 common shares at $2.09 per share on October 27, 2026, solely to satisfy tax obligations tied to a restricted stock vesting event, leaving him with 100,534 shares held directly.