Form 4: Forum Energy Technologies Executive Reports Stock Transactions Following RSU Vesting
SEC Form 4
John C. Ivascu, EVP, General Counsel & CCO of Forum Energy Technologies, reports the vesting of restricted stock units and performance restricted stock units, along with the subsequent surrender of shares to cover tax obligations.
Summary
- On February 17, 2025, John C. Ivascu, EVP, General Counsel & CCO of Forum Energy Technologies, had 3,943 restricted stock units vest, which were granted on February 17, 2023.
- Also on February 17, 2025, 1,972 performance restricted stock units granted on February 17, 2023, became earned.
- To cover tax obligations related to the vesting, 1,543 shares were surrendered at a price of $19.37 per share for the restricted stock units and 775 shares were surrendered at a price of $19.37 per share for the performance restricted stock units.
- On February 18, 2025, 5,720 phantom restricted stock units granted on February 18, 2022, vested.
- To cover tax obligations related to the vesting, 2,250 shares were surrendered at a price of $19.87 per share.
- Following these transactions, Ivascu directly owns 55,277 shares of Forum Energy Technologies common stock and no derivative securities.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings and transactions of company insiders.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of shares upon vesting of the RSUs, offset by the surrender of shares for tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/18/2022 | Grant date of phantom restricted stock units that vested on February 18, 2025 |
| 02/17/2023 | Grant date of restricted stock units and performance restricted stock units that vested on February 17, 2025 |
| 02/17/2025 | Vesting date of restricted stock units and performance restricted stock units |
| 02/18/2025 | Vesting date of phantom restricted stock units |
| 02/19/2025 | Date of Form 4 filing |
Keywords
Form 4, insider trading, stock vesting, restricted stock units, performance restricted stock units, tax obligations, Forum Energy Technologies, FET, Ivascu
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