SEC v. ProPetro Holding Corp. and Dale Redman (2021)

Settled

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In November 2021 the SEC settled with ProPetro Holding and its co-founder and former CEO Dale Redman over undisclosed perquisites and stock pledges. Redman pays a $195,046 civil penalty. No insider trading is alleged.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	3-20661
Date filed	2021-11-22
Date resolved	2021-11-22
Status	settled
Asset class	equities
Venue	NYSE
Criminal parallel	No
Defendants	ProPetro Holding Corp. and Dale Redman (entity)
Cited as charged or alleged	Exchange Act s.13(a) ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: $195k
Disgorgement: —
Prejudgment interest: —
Total relief: $195k
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission issued the order on November 22, 2021.

The order finds ProPetro did not disclose perquisites and pledges of company stock by Redman in its proxy statements and annual reports for 2017 and 2018. Redman charged personal flights and credit card expenses to the company and pledged all his ProPetro stock in breach of the shareholder agreement and the company's insider trading policy.

The $195,046 penalty is imposed on Redman; the order contains no separate penalty for the company. The mention of the insider trading policy triggered the old tag, which has been removed.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

2021-11-22 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.