SEC Form 4 · accession 0001401257-16-000127
FORUM ENERGY TECHNOLOGIES, INC. · FET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Schmitz
Director
Period of report
Feb 19, 2016
Accepted (ET)
Feb 22, 2016 · 3:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001401257
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 19, 2016 | A | 13,313 | $0.00 | A | 50,847 | D | |
| Common StockF3 | holding | — | — | — | 2,131,347 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F2 | $15.35 | holding | — | — | — | Aug 17, 2015 | Aug 17, 2021 | Common Stock | 1,628 | 1,628 | D |
Explanation of responses
- F1Represents an award of restricted stock under the Forum Energy Technologies, Inc. 2010 Stock Incentive Plan (the "Plan"). Each share of restricted stock, par value $0.01 per share, is subject to transferability and other restrictions that lapse upon vesting of the restricted stock. 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). The restricted stock agreement also includes dividend and voting rights.
- F2On March 2, 2015, Mr. Schmitz exercised 4,884 options. The number of options reported in the Form 4 filed on March 3, 2015, however, was overstated by 1,628 options due to an administrative error. As such, the number of shares of common stock beneficially owned by Mr. Schmitz has been reduced by 1,628 shares. The correct number of options held by Mr. Schmitz is reflected in Table II.
- F3B-29 Family Holdings, LLC, a Texas limited liability company ("B-29 Family Holdings") is the beneficial owner of 2,131,347 shares of Forum Energy Technologies, Inc. common stock. Mr. Schmitz maintains a 90.69% membership interest in B-29 Family Holdings. As such, Mr. Schmitz may be deemed to have dispositive power over the common stock owned by B-29 Family Holdings. Mr. Schmitz disclaims beneficial ownership of such common stock, except to the extent of his pecuniary interest therein.