JOHN C. IVASCU - 17 Feb 2022 Form 4 Insider Report for FORUM ENERGY TECHNOLOGIES, INC. (FET)

Role
EVP, General Counsel & CCO
Signature
John C. Ivascu
Issuer symbol
FET
Transactions as of
17 Feb 2022
Net transactions value
-$150,734
Form type
4
Filing time
22 Feb 2022, 14:26:43 UTC
Previous filing
17 Feb 2022
Next filing
16 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FET Common Stock Options Exercise $0 +873 +2% $0.000000 44,085 17 Feb 2022 Direct F1
transaction FET Common Stock Tax liability $4,100 -213 -0.48% $19.25 43,872 17 Feb 2022 Direct F2
transaction FET Common Stock Tax liability $29,679 -1,567 -3.6% $18.94 42,305 19 Feb 2022 Direct F3
transaction FET Common Stock Options Exercise +5,322 +13% 47,627 19 Feb 2022 Direct F4
transaction FET Common Stock Options Exercise $100,799 -5,322 -11% $18.94 42,305 19 Feb 2022 Direct F4
transaction FET Common Stock Tax liability $16,156 -853 -2% $18.94 41,452 21 Feb 2022 Direct F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FET Performance Shares Options Exercise $0 -2,181 -100% $0.000000* 0 17 Feb 2022 Common Stock 873 Direct F1
transaction FET Phantom Restricted Stock Units Award $0 +17,160 $0.000000 17,160 18 Feb 2022 Common Stock 17,160 Direct F6, F7
transaction FET Performance Restricted Stock Units Award $0 +17,160 $0.000000 17,160 18 Feb 2022 Common Stock 17,160 Direct F8, F9
transaction FET Phantom Stock Units Options Exercise $0 -5,322 -33% $0.000000 10,643 19 Feb 2022 Phantom Stock Units 5,322 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the vesting of performance shares granted in February of 2019, which were earned at 40% of target.
F2 These shares were surrendered to satisfy tax obligations related to the vesting of performance shares granted on February 15, 2019.
F3 These shares were surrendered to satisfy the tax obligations related to the vesting of a restricted stock unit award granted on February 19, 2021.
F4 Represents the cash settlement of a portion of phantom stock units granted on February 19, 2021 and that vested on February 19, 2022.
F5 These shares were surrendered to satisfy the tax obligations related to the vesting of a restricted stock unit award granted on February 21, 2020.
F6 Represents an award of restricted stock units (the "Units") granted pursuant to the Company's Second Amended and Restated 2016 Stock and Incentive Plan (the "Plan"). Each Unit represents a contingent right to receive one share of 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 (2/18/2022). The Units will be forfeited upon a termination of employment prior to vesting, except in limited circumstances. (continued on footnote 7)
F7 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.
F8 Represents an award of performance-based units granted pursuant to the Plan. Each unit represents a contingent right to receive one share of the Company's Common Stock, upon the vesting of the units. There are two conditions for vesting of each tranche: (i) achieving a minimum stock price threshold and (ii) continuous service. 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 $23.68, 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: (continued on footnote 9)
F9 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. Any earned units also vest based on continuous service according to the following schedule: 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 units will be forfeited upon a termination of employment prior to vesting, except in limited circumstances.