Form 4: Director and 10% Owner Charles Leykum Reports Significant Share Distribution in Ranger Energy Services

Charles S. Leykum, a Director and 10% Owner of Ranger Energy Services, Inc., reported a pro rata liquidating distribution of over 3.4 million Class A Common Stock shares from affiliated funds, increasing his direct beneficial ownership.

Summary

• Charles S. Leykum, a Director and 10% Owner of Ranger Energy Services, Inc. (RNGR), filed a Form 4 reporting changes in his beneficial ownership.
• On May 30, 2025, CSL Energy Opportunities Fund II, L.P. distributed 2,055,830 shares of Class A Common Stock to its members pro rata in connection with a liquidating distribution.
• Concurrently, CSL Energy Opportunities Offshore Fund II, L.P. distributed 1,469,170 shares of Class A Common Stock to its members pro rata in connection with a liquidating distribution.
• As a result of these distributions, Mr. Leykum directly received 106,005 shares of Class A Common Stock.
• Following the distribution, CSL Energy Opportunity GP II, LLC, where Mr. Leykum is the managing member, became the record holder of 1,679 shares.
• Mr. Leykum disclaims beneficial ownership of these 1,679 shares in excess of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The document reports a change in beneficial ownership due to a fund liquidation and distribution, which is a procedural event rather than a direct positive or negative operational or financial outcome for the company. While Mr. Leykum's direct ownership increased, the overall fund holdings were liquidated.

Positives

• Mr. Leykum's direct beneficial ownership of Ranger Energy Services, Inc. Class A Common Stock increased by 106,005 shares, indicating continued personal stake in the company.

Negatives

• The distribution represents a liquidation of significant holdings (totaling 3,525,000 shares) by the CSL Energy Opportunities Funds, which previously held a substantial stake in Ranger Energy Services.

Risks

• The liquidating distribution by the CSL Energy Opportunities Funds could potentially lead to increased selling pressure on Ranger Energy Services shares if the recipients of the distributed shares decide to divest their holdings.
• A reduction in institutional ownership by specialized energy funds might be perceived negatively by the market, potentially impacting investor sentiment.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on changes in beneficial ownership.

Management Comments

• Mr. Leykum disclaims beneficial ownership of the 1,679 shares held by CSL Energy Opportunity GP II, LLC in excess of his pecuniary interest therein.

Industry Context

This filing is specific to insider ownership changes and does not provide broader industry context. However, changes in significant shareholder positions, especially by a director and 10% owner, can reflect sentiment within the energy services sector, particularly concerning the long-term outlook for companies like Ranger Energy Services.

Related Party Transactions

• The distribution of shares from CSL Energy Opportunities Fund II, L.P. and CSL Energy Opportunities Offshore Fund II, L.P. to their members, including Mr. Leykum, constitutes a related party transaction given Mr. Leykum's role as managing member of entities related to these funds.

Stakeholder Impact

• Shareholders: The distribution changes the ownership structure, with shares moving from institutional funds to individual members, including a director. This could lead to a more dispersed shareholder base or potential selling pressure if recipients liquidate their new holdings.

Key Dates

Keywords

Ranger Energy Services, RNGR, Charles S. Leykum, Form 4, Beneficial Ownership, Insider Trading, Share Distribution, CSL Energy Opportunities Fund, Liquidating Distribution, Energy Services, Oilfield Services