0001401257-21-000018.txt : 20210223 0001401257-21-000018.hdr.sgml : 20210223 20210223152331 ACCESSION NUMBER: 0001401257-21-000018 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210219 FILED AS OF DATE: 20210223 DATE AS OF CHANGE: 20210223 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: IVASCU JOHN C CENTRAL INDEX KEY: 0001765836 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35504 FILM NUMBER: 21665027 MAIL ADDRESS: STREET 1: 920 MEMORIAL CITY WAY STREET 2: SUITE 1000 CITY: HOUSTON STATE: TX ZIP: 77024 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM ENERGY TECHNOLOGIES, INC. CENTRAL INDEX KEY: 0001401257 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 611488595 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 10344 SAM HOUSTON PARK DRIVE STREET 2: SUITE 300 CITY: HOUSTON STATE: TX ZIP: 77064 BUSINESS PHONE: 281-949-2500 MAIL ADDRESS: STREET 1: 10344 SAM HOUSTON PARK DRIVE STREET 2: SUITE 300 CITY: HOUSTON STATE: TX ZIP: 77064 FORMER COMPANY: FORMER CONFORMED NAME: FORUM OILFIELD TECHNOLOGIES, INC. DATE OF NAME CHANGE: 20100726 FORMER COMPANY: FORMER CONFORMED NAME: FORUM OILFIELD TECHNOLOGIES INC DATE OF NAME CHANGE: 20070529 4 1 wf-form4_161411179555430.xml FORM 4 X0306 4 2021-02-19 0 0001401257 FORUM ENERGY TECHNOLOGIES, INC. FET 0001765836 IVASCU JOHN C 10344 SAM HOUSTON PARK DRIVE SUITE 300 HOUSTON TX 77064 0 1 0 0 EVP, General Counsel & CCO Common Stock 2021-02-19 4 A 0 15965 0 A 45624 D Common Stock 2021-02-20 4 F 0 37 18.79 D 45587 D Common Stock 2021-02-21 4 F 0 1067 18.79 D 44520 D Phantom Stock Units 2021-02-19 4 A 0 15965 0 A Phantom Stock Units 15965.0 15965 D Represents an award of restricted stock units (the "Units") granted pursuant to the Forum Energy Technologies, Inc. 2016 Stock and Incentive Plan (the "Plan"). Each Unit represents a contingent right to receive one share of Forum Energy Technologies, Inc. (the "Company") common stock, par value $0.01 per share ("Common Stock"), upon the vesting of the Units. The Units vest according to the following schedule: 1/3 vest on each of the first, second, and third anniversaries of the date of grant (2/19/2021). The Units will be forfeited upon a termination of employment prior to vesting, except in limited circumstances. The Units 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 Units actually 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. These shares were surrendered to satisfy the tax obligation related to the vesting of a restricted stock unit award granted on February 20, 2017. These shares were surrendered to satisfy the tax obligation related to the vesting of a restricted stock unit award granted on February 21, 2020. Represents an award of cash-settled phantom units (the "Phantom Units") granted pursuant to the Plan. Each Phantom Unit represents a contingent right to receive a cash payment equivalent to the fair market value of one share of Common Stock, upon the vesting of the Phantom Units. The Phantom Units are divided equally into three tranches and there are two conditions for vesting of each tranche: (i) achieving a minimum stock price threshold and (ii) continuous service. (Continued on Footnote 5) In respect of the minimum stock price threshold, the closing price of the Company's Common Stock must equal or exceed a threshold price of $23.49, which is 125% of the Company's closing stock price on the grant date, for a total of twenty trading days during the following time periods: Tranche 1: grant date through the third anniversary of the grant date; Tranche 2: first anniversary of the grant date through the third anniversary of the grant date; Tranche 3: second anniversary of the grant date through the third anniversary of the grant date. (Continued on Footnote 6) The continuous service requirement will be met with respect to the Phantom Units as follows: 1/3 on each of the first, second, and third anniversaries of the grant date. Vesting for any tranche will occur on the applicable anniversary date on or following satisfaction of the minimum price threshold condition. The Phantom Units will be forfeited upon a termination of employment prior to vesting, except in limited circumstances. The Phantom Units also include dividend equivalent rights that entitle the reporting person to the same dividends that would be payable if the Phantom Units were shares of Common Stock outstanding at the time such dividends were issued. The credited dividends will be paid concurrently with the settlement of the Phantom Units. John C. Ivascu 2021-02-23