SVP Operations Pounds Steven converted options into 2,659 shares, was granted 1,330 shares and covered exercise/tax liability with 1,648 shares, increasing direct ownership by 34% to 9,278 units (SEC Form 4)
$FET
Metal Fabrications
Industrials
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
|
2. Issuer Name and Ticker or Trading Symbol
FORUM ENERGY TECHNOLOGIES, INC. [ FET ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
|
3. Date of Earliest Transaction
(Month/Day/Year) 02/13/2025 | ||||||||||||||||||||||||||
|
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 02/13/2025 | A | 1,330(1) | A | $0 | 8,267 | D | |||
| Common Stock | 03/06/2025 | F | 519(2) | D | $17.26 | 7,748 | D | |||
| Common Stock | 03/06/2025 | M | 2,659(3) | A | $0 | 10,407 | D | |||
| Common Stock | 03/06/2025 | F | 1,129(4) | D | $17.26 | 9,278 | D | |||
|
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (5) | 03/05/2025 | A | 9,270 | (5) | (5) | Common Stock | 9,270 | $0 | 9,270 | D | ||||
| Performance Restricted Stock Units | (6) | 03/05/2025 | A | 6,000 | (6) | (6) | Common Stock | 6,000 | $0 | 6,000 | D | ||||
| Restricted Stock Units | (3) | 03/06/2025 | M | 2,659 | (3) | (3) | Common Stock | 2,659 | $0 | 5,316 | D | ||||
| Explanation of Responses: |
| 1. Reflects performance restricted stock units granted on March 6, 2024 for which performance was certified on February 13, 2025. The performance restricted stock units subsequently vested on March 6, 2025. |
| 2. These shares were surrendered to satisfy the tax obligations related to the vesting of performance restricted stock units granted on March 6, 2024. |
| 3. Reflects the vesting of restricted stock units granted on March 6, 2024. |
| 4. These shares were surrendered to satisfy the tax obligations related to the vesting of restricted stock units granted on March 6, 2024. |
| 5. Represents an award of restricted stock units (the "RSUs") granted pursuant to the Company's Second Amended and Restated 2016 Stock and Incentive Plan (the "Plan"). Each RSU represents a contingent right to receive one share of Common Stock. The RSUs vest as to 1/3 on each of the first, second and third anniversaries of March 5, 2025. The RSUs also include dividend equivalent rights that entitle the reporting person to the same dividends that would be payable were the shares of Common Stock underlying the RSUs outstanding at the time such dividends were issued. The credited dividends will be paid concurrently with the issuance of the shares of Common Stock to the reporting person. |
| 6. Represents an award of performance restricted stock units (the "PRSUs") granted pursuant to the Plan. Each PRSU represents a contingent right to receive one share of Common Stock. The PRSUs vest based on achieving a minimum stock price threshold of $21.91, which is 125% of the Company's closing stock price on March 5, 2025, for 20 consecutive trading days prior March 5, 2028. |
| Remarks: |
| /s/ Steven Pounds by John C. Ivascu as Attorney-in-Fact | 03/07/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||