# EDGAR Filing Document

**Accession Number:** 0001680247
**File Stem:** 0001104659-25-121596
**Filing Date:** 2025-12
**Character Count:** 20898
**Document Hash:** a24b97c9beabcb43fe9054e57aac0560
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-121596.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0001104659-25-121596

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20251216

**DATE AS OF CHANGE**: 20251216

**EFFECTIVENESS DATE**: 20251216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ProPetro Holding Corp.
- **CENTRAL INDEX KEY:** 0001680247
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL, GAS FIELD SERVICES, NBC [1389]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 263685382
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292172
- **FILM NUMBER:** 251575508

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 873
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79702
- **BUSINESS PHONE:** (432) 688-0012

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 873
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79702

**As filed with the Securities and Exchange Commission on December 16, 2025**

Registration No. 333-

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

------

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

------

**ProPetro Holding Corp.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **26-3685382** |
| (State or Other Jurisdiction <br> of Incorporation or Organization) | (I.R.S. Employer <br> Identification No.) |
| **One Marienfeld Place <br> 110 North Marienfeld Street, Suite 300<br> Midland, Texas** | **79701** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**SECOND AMENDED AND RESTATED PROPETRO HOLDING CORP.**

**2020 LONG TERM INCENTIVE PLAN**

(Full title of the plan)

**John J. Mitchell**

**General Counsel and Corporate Secretary**

**One Marienfeld Place**

**110 North Marienfeld Street, Suite 300**

**Midland, Texas 79701**

(Name and address of agent for service)

**(512) 220-1200**

(Telephone number, including area code, of agent for service)

***Copies to:***

**Michael Telle**

**Vinson & Elkins L.L.P.**

**845 Texas Avenue, Suite 4700**

**Houston, Texas 77002**

**(713) 758-2222**

------

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

Large accelerated filer ⌧ Accelerated filer ◻ <br> Non-accelerated filer ◻ Smaller reporting company ◻ <br> Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act of 1933, as amended (the "Securities Act"). ◻

**EXPLANATORY NOTE**

The ProPetro Holding Corp. 2020 Long Term Incentive Plan was adopted in 2020 (the "2020 LTIP"). At the Annual Meeting of Shareholders (the "2023 Annual Meeting") of ProPetro Holding Corp., a Delaware corporation (the "Registrant"), held on May 11, 2023, the Registrant's shareholders approved an amendment and restatement of the 2020 LTIP (the "2023 Amendment and Restatement") in order to increase the number of shares of common stock, $0.001 par value per share (the "Common Stock"), available for future grants to 8,050,000, and to extend the term of the plan to the tenth anniversary of the 2023 Annual Meeting. At the Annual Meeting of Shareholders (the "2025 Annual Meeting") of the Registrant, held on May 20, 2025, the Registrant's shareholders approved a second amendment and restatement of the 2020 LTIP (the "2025 Amendment and Restatement") in order to increase the number of shares of Common Stock, available for future grants to 10,520,000, and to extend the term of the plan to the tenth anniversary of the 2025 Annual Meeting (as amended and restated, the "Plan").

The Registrant is filing this Registration Statement on Form S-8 (this "Registration Statement") pursuant to General Instruction E of Form S-8 to register the offer and sale of an additional 2,717,000 shares of Common Stock that may be issued pursuant to the Plan, which are available as a result of the 2025 Amendment and Restatement.

Except as otherwise set forth below, the contents of the registration statements on Form S-8 previously filed with the Securities and Exchange Commission (the "Commission") on [November 5, 2020 (File No. 333-249864)](https://www.sec.gov/Archives/edgar/data/1680247/000110465920121598/a20-34937_1s8.htm) and [February 15, 2024 (File No. 333-277107)](https://www.sec.gov/Archives/edgar/data/1680247/000110465924024534/tm246227d1_s8.htm), are incorporated herein by reference and made a part of this Registration Statement as permitted by General Instruction E to Form S-8.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit<br> <u>Number</u>** | **<u>Exhibit Description</u>** |
| [4.1](https://www.sec.gov/Archives/edgar/data/1680247/000168024719000077/amendedandrestatedcertific.htm) | [Amended and Restated Certificate of Incorporation of ProPetro Holding Corp., dated as of June 19, 2019 (incorporated by reference herein to Exhibit 3.1 to Registrant's Current Report on Form 8-K dated June 19, 2019).](https://www.sec.gov/Archives/edgar/data/1680247/000168024719000077/amendedandrestatedcertific.htm) |
| [4.2](https://www.sec.gov/Archives/edgar/data/1680247/000110465920046147/tm2015780d2_ex3-1.htm) | [Certificate of Designations of Series B Junior Participating Preferred Stock of the Registrant dated April 14, 2020 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed with the Commission on April 14, 2020).](https://www.sec.gov/Archives/edgar/data/1680247/000110465920046147/tm2015780d2_ex3-1.htm) |
| [4.3](https://www.sec.gov/Archives/edgar/data/1680247/000168024719000077/amendedandrestatedbylaws.htm) | [Amended and Restated Bylaws of ProPetro Holding Corp. (incorporated by reference herein to Exhibit 3.2 to Registrant's Current Report on Form 8-K dated June 19, 2019).](https://www.sec.gov/Archives/edgar/data/1680247/000168024719000077/amendedandrestatedbylaws.htm) |
| [4.4](https://www.sec.gov/Archives/edgar/data/1680247/000110465925052967/tm2516060d1_ex10-1.htm) | [Second Amended and Restated ProPetro Holding Corp. 2020 Long Term Incentive Plan (incorporated by reference herein to Exhibit 10.1 to Registrant's Current Report on Form 8-K dated May 27, 2025).](https://www.sec.gov/Archives/edgar/data/1680247/000110465925052967/tm2516060d1_ex10-1.htm) |
| [5.1\*](tm2533356d1_ex5-1.htm) | [Opinion of Vinson & Elkins L.L.P.](tm2533356d1_ex5-1.htm) |
| [23.1\*](tm2533356d1_ex23-1.htm) | [Consent of RSM US LLP, an Independent Registered Public Accounting Firm.](tm2533356d1_ex23-1.htm) |
| [23.2\*](tm2533356d1_ex23-2.htm) | [Consent of Deloitte & Touche LLP, an Independent Registered Public Accounting Firm.](tm2533356d1_ex23-2.htm) |
| [23.3\*](tm2533356d1_ex5-1.htm) | [Consent of Vinson & Elkins L.L.P. (included in Exhibit 5.1 to this Registration Statement).](tm2533356d1_ex5-1.htm) |
| [24.1\*](#a_001) | [Power of Attorney (included in the signature page of this Registration Statement).](#a_001) |
| [107.1\*](tm2533356d1_ex-filingfees.htm) | [Calculation of Filing Fee Table.](tm2533356d1_ex-filingfees.htm) |

---

\* Filed herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Midland, Texas on December 16, 2025.

---

| | |
|:---|:---|
| **PROPETRO HOLDING CORP.** | **PROPETRO HOLDING CORP.** |
| By: | /s/ John J. Mitchell |
| Name: | John J. Mitchell |
| Title: | General Counsel and Corporate Secretary |

---

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below appoints John J. Mitchell as their true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for them and in their name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to the Registration Statement and any registration statement (including any amendment thereto) for this offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act, and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he or she might or would do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated on December 16, 2025.

---

| | |
|:---|:---|
| <u>Signatures</u> | <u>Title</u> |
| /s/ Samuel D. Sledge | Chief Executive Officer and Director |
| Samuel D. Sledge | (*Principal Executive Officer*) |
| /s/ Caleb Weatherl | Chief Financial Officer |
| Caleb Weatherl | (*Principal Financial Officer*) |
| /s/ Celina A. Davila | Chief Accounting Officer |
| Celina A. Davila | (*Principal Accounting Officer*) |
| /s/ Phillip A. Gobe | Chairman of the Board |
| Phillip A. Gobe |  |
| /s/ Spencer D. Armour III | Director |
| Spencer D. Armour III |  |
| /s/ Mark S. Berg | Director |
| Mark S. Berg |  |

---

---

| | |
|:---|:---|
| /s/ Anthony J. Best | Director |
| Anthony J. Best |  |
| /s/ G. Larry Lawrence | Director |
| G. Larry Lawrence |  |
| /s/ Mary P. Ricciardello | Director |
| Mary P. Ricciardello |  |
| /s/ Michele Vion | Director |
| Michele Vion |  |
| /s/ Alex Volkov | Director |
| Alex Volkov |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](tm2533356d1_ex5-1img001.jpg)

December 16, 2025

ProPetro Holding Corp.

110 North Marienfeld Street, Suite 300

Midland, Texas 79701

Ladies and Gentlemen:

We have acted as counsel for ProPetro Holding Corp., a Delaware corporation (the "Company"), in connection with the Company's registration under the Securities Act of 1933, as amended (the "Act"), of the offer and sale of an additional 2,717,000 shares of the Company's common stock, par value $0.001 per share (the "Shares"), pursuant to the Company's registration statement on Form S-8 (the "Registration Statement") to be filed with the Securities and Exchange Commission on December 16, 2025, which Shares may be issued from time to time in accordance with the terms of the Second Amended and Restated ProPetro Holding Corp. 2020 Long Term Incentive Plan (as amended from time to time, the "Plan").

In reaching the opinions set forth herein, we have examined and are familiar with originals or copies, certified or otherwise identified to our satisfaction, of such documents and records of the Company and such statutes, regulations and other instruments as we deemed necessary or advisable for purposes of this opinion, including (i) the Registration Statement, (ii) certain resolutions adopted by the board of directors of the Company, (iii) the Plan, and (iv) such other certificates, instruments, and documents as we have considered necessary for purposes of this opinion. As to any facts material to our opinions, we have made no independent investigation or verification of such facts and have relied, to the extent that we deem such reliance proper, upon certificates of public officials and officers or other representatives of the Company.

We have assumed (i) the legal capacity of all natural persons, (ii) the genuineness of all signatures, (iii) the authority of all persons signing all documents submitted to us on behalf of the parties to such documents, (iv) the authenticity of all documents submitted to us as originals, (v) the conformity to authentic original documents of all documents submitted to us as copies, (vi) that all information contained in all documents reviewed by us is true, correct and complete, and (vii) that the Shares will be issued in accordance with the terms of the Plan.

Based on the foregoing and subject to the limitations set forth herein, and having due regard for the legal considerations we deem relevant, we are of the opinion that the Shares have been duly authorized and, when the Shares are issued by the Company in accordance with the terms of the Plan and the instruments executed pursuant to the Plan, as applicable, the Shares will be validly issued, fully paid and non-assessable.

This opinion is limited in all respects to the General Corporation Law of the State of Delaware. We express no opinion as to any other law or any matter other than as expressly set forth above, and no opinion as to any other law or matter may be inferred or implied herefrom. The opinions expressed herein are rendered as of the date hereof and we expressly disclaim any obligation to update this letter or advise you of any change in any matter after the date hereof.

---

| | |
|:---|:---|
| **Vinson & Elkins LLP Attorneys at Law**<br> Austin Dallas Denver Dubai Dublin Houston London<br> Los Angeles New York Richmond San Francisco Tokyo Washington  | 845 Texas Avenue, Suite 4700<br> Houston, Texas 77002<br> **Tel** +1.713.758.2222 **Fax** +1.713.758.2346 **velaw.com** |

---

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| | |
|:---|:---|
| ![](tm2533356d1_ex5-1img002.jpg) | **ProPetro Holding Corp.** December 16, 2025 Page 2 |

---

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Act.

---

| |
|:---|
| Very truly yours, |
| /s/ Vinson & Elkins L.L.P. |
| Vinson & Elkins L.L.P. |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of ProPetro Holding Corp. of our reports dated February 20, 2025, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of ProPetro Holding Corp., appearing in the Annual Report on Form 10-K of ProPetro Holding Corp. for the year ended December 31, 2024.

/s/ RSM US LLP

Houston, Texas

December 16, 2025

## Exhibit 23.2

**Exhibit 23.2**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated February 23, 2023 relating to the financial statements of ProPetro Holding Corp. appearing in the Annual Report on Form 10-K of ProPetro Holding Corp. for the year ended December 31, 2024.

/s/ Deloitte & Touche LLP

Houston, Texas

December 16, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **ProPetro Holding Corp.**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | common stock, $0.001 par value per share | 457(a) | 2717000 | $10.22 | $27767740.00 | 0.0001381 | $3834.73 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $27767740.00  |  | $3834.73  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $3834.73  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> 1(a) The Form S-8 registration statement to which this Exhibit 107.1 is attached (the "Registration Statement") registers 2,717,000 shares of common stock, $0.001 par value per share (the "Common Stock"), of ProPetro Holding Corp., a Delaware corporation, that may be delivered with respect to awards under the Second Amended and Restated ProPetro Holding Corp. 2020 Long Term Incentive Plan (as amended from time to time, the "Plan"), which shares consist of (a) 2,470,000 shares of Common Stock reserved and available for delivery with respect to awards under the Plan and (b) 247,000 shares of Common Stock that may again become available for delivery with respect to awards under the Plan pursuant to the terms and conditions of the Plan. 1(b) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), the Registration Statement shall be deemed to cover an indeterminate number of additional shares of Common Stock that may become issuable as a result of stock splits, stock dividends or similar transactions pursuant to the adjustment or anti-dilution provisions of the Plan. 1(c) The proposed maximum offering price per share and proposed maximum aggregate offering price for the shares of Common Stock covered by this Registration Statement have been estimated solely for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h) under the Securities Act based upon the average of the high and low prices of a share of Common Stock as reported on the New York Stock Exchange on December 15, 2025 (a date within five business days prior to the date of filing the Registration Statement), which was equal to $10.22.

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| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---