Williams Industrial Services Group Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 14—SUBSEQUENT EVENTS The Company settled a legal dispute related to the loss of a multi-year contract against a former Company executive and current competitor. The former Company executive was hired by the competitor and breached a non-compete agreement. The legal settlement resulted in $2.7 million and was included on the income statement as other income for the third quarter of 2022. The Company collected the $2.7 million in cash related to the settlement on October 13, 2022. The $2.7 million settlement was used to pay a portion of the Revolving Credit Facility in the fourth quarter of 2022.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2022

NOTE 14—SUBSEQUENT EVENTS

The Company settled a legal dispute related to the loss of a multi-year contract against a former Company executive and current competitor. The former Company executive was hired by the competitor and breached a non-compete agreement. The legal settlement resulted in $2.7 million and was included on the income statement as other income for the third quarter of 2022. The Company collected the $2.7 million in cash related to the settlement on October 13, 2022. The $2.7 million settlement was used to pay a portion of the Revolving Credit Facility in the fourth quarter of 2022.