Why this firm matters
Vote scheduled for 2026-06-10; results pending.
Controller & ownership
Diffuse / non-controlledDiffuse InstitutionalVanguard Group (diffuse institutional) holds approximately 5.1% of voting power. No single holder reaches the controlled-company threshold (>50% of voting power).
Source: NGS DEF 14A 2026-04-28 + Schedule 13G — Vanguard 640,540 shares (5.09%) of 12,568,917 outstanding (as of Nov 7, 2025); Hoak Public Equities exited 5%+ tier Jan 26, 2026 (now 4.57%); AWM Investment 214,776 shares (~1.7%)
Vote outcome — reincorporation proposal
Vote totals not yet pulled. Awaiting EDGAR Item 5.07.
Event-study abnormal returns — announcement window
| Specification | Day-0 AR | Inference |
|---|---|---|
| Market model (SPY benchmark) HEADLINEi | -3.50% | Patell-z p-value = 0.133 |
Event-study abnormal returns — vote window
Vote window CARs not yet computed (vote on 2026-06-10).
Long-run abnormal returns & pooled estimates
No long-run / pooled estimates available for this firm yet — run phase5z_compute_longrun.py on Windows to populate (requires effective date ≥ 3 months ago).
Cohort-level robustness battery
Heckman two-step selection correction (controlled-vs-widely-held)
Cohort ATE = +0.94% (SE = 7.06%, n = 2395) after correcting for controller-status selection (inverse Mills ratio = -0.062).
Romano-Wolf step-down + Benjamini-Hochberg FDR (n = 47)
This firm: raw p = 0.133, Romano-Wolf adjusted p = 1.000, BH-FDR adjusted p = 0.966. Multiple-hypothesis correction is computed across the full cohort to control family-wise error rate at alpha = 0.05.
Pooled cohort BHAR (mover firms only)
BHAR_63d: mean = -5.60% (SE = 22.11%, n = 3, p = 0.499) · BHAR_126d: mean = +17.33% (SE = 41.17%, n = 3, p = 0.774)
See Cohort event study → for the full battery and forest plots.
Texas Statutory Adoptions
The Texas opt-in statutory regimes (TBOC §21.552 / SB 29 derivative threshold; TBOC §21.373 / SB 1057 shareholder-proposal threshold) are available only to firms that are nationally listed Texas corporations. Natural Gas Services Group, Inc. is not yet Texas-incorporated; the move is pending shareholder vote with a proposed effective date of 2026-06-10. These adoptions can be elected only on or after the firm's TX effective date.
Source filings
- IR — https://investor.ngsgi.com/
- EDGAR — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001084991&type=&dateb=&owner=include&count=40
- Proxy — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001084991&type=DEF+14A&dateb=&owner=include&count=40
- EDGAR accession (canonical) —
0001084991-26-000027
Classification & audit trail
[2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://investor.ngsgi.com/ [2026-04-28] phase5e: cleaned edgar_accession_canonical: extracted '0001084991-26-000027' from raw value '0001084991-26-000027 (PRE 14A, April 17, 2026)' (source=dashed) [2026-04-29] phase5u: row independently validated by external Reviewer (full-residual pass, 78/276 substantive answers); validations applied: V_DATE_ANN=CONFIRM; V_DATE_MEET=CONFIRM; V_DATE_EFF=NOT_YET_EFFECTIVE; V_FROM_TO=CONFIRM; V_BUCKET=CONFIRM; V_COHORT=CONFIRM_INCLUSION; primary-source URLs all under https://www.sec.gov/Archives/ [2026-04-29] phase5v: row independently re-validated by external Reviewer (Round 4 full-residual pass, 85/276 substantive); all bucket and pending-status conclusions match v3.57 [2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v6 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58)
[2026-04-29] v3.75: VERIFIED MECHANISM — Colorado→Texas conversion under CBCA. Annual meeting June 10, 2026; 12,598,365 shares outstanding as of April 16, 2026 record date. Bundled with staggered-board → annual elections proposal. Exact threshold-quote pincite pending PRE 14A / DEF 14A review.
Related firms
← Back to The Reincorporation Tracker · Cohort event study · JSON for NGS