Form Type: 4

SEC EDGAR Link
Accession Number:0001401257-20-000133
Date:2020-08-12
Issuer: FORUM ENERGY TECHNOLOGIES, INC. (FET)
Original Submission Date:

Reporting Person:

DANFORD MICHAEL DEWAYNE
10344 SAM HOUSTON PARK DRIVE
SUITE 300 HOUSTON, TX 77064

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2020-08-12 A 200,000 a $0.00 484,448 direct
COMMON STOCK 2020-08-12 A 30,000 a $0.00 514,448 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 represents an award of restricted stock units (the "units") granted pursuant to the forum energy technologies, inc. 2016 second amended and restated 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. (continued on footnote 2)
f2 the 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. 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 $0.71, which is 150% 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 3)
f3 the units may 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. (continued on footnote 4)
f4 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.
f5 represents an award of 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: (i) achieving a minimum stock price threshold and (ii) continuous service. in respect of the stock price threshold, the closing price of the company's common stock over twenty consecutive trading days must equal or exceed $1.50, which is approximately 320% of the company's closing stock price on the grant date. if the minimum price threshold is met, and the reporting person is continuously employed by the company through the third anniversary of the grant date, the units will vest. the units will be forfeited upon a termination of employment prior to vesting, except in limited circumstances. (continued on footnote 6)
f6 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.

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