Form 4: Evelyn M. Angelle Receives Restricted Stock Award from Forum Energy Technologies

Director Evelyn M. Angelle reports receiving 7,975 shares of restricted stock from Forum Energy Technologies, Inc.

Summary

• Evelyn M. Angelle, a director of Forum Energy Technologies, Inc., reported a transaction on March 6, 2024, where she acquired 7,975 shares of common stock.
• These shares were awarded as restricted stock under the company's 2016 Second Amended and Restated Stock and Incentive Plan.
• The restricted stock vests in full on the one-year anniversary of the grant date, subject to accelerated vesting upon a Change in Control.
• Angelle now beneficially owns 17,758 shares of Forum Energy Technologies, Inc.
• The reporting was filed on March 8, 2024.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral event with a slightly positive undertone due to incentivization.

Positives

• The award of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The restricted stock award vests in full on the one year anniversary of the date of grant, subject to accelerated vesting of the entire award upon a Change in Control (as defined in the Plan).

Industry Context

Stock awards to directors are a common practice in the energy industry to incentivize performance and align interests with shareholders.

Comparison to Industry Standards

• Stock awards are a typical component of executive compensation packages across various industries, including energy.
• Companies like Schlumberger and Halliburton also utilize stock awards as part of their compensation strategy for directors and key employees.

Stakeholder Impact

• Shareholders may view the stock award positively as it aligns the director's interests with the company's long-term success.

Key Dates