Forum Energy director awarded 2,556 RSUs
ROWSEY PAUL E III reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
ROWSEY PAUL E III reported acquisition or exercise transactions in this Form 4 filing.
FORUM ENERGY TECHNOLOGIES, INC. director Paul E. Rowsey III received an equity grant of 2,556 restricted stock units representing common stock. The award was granted at no cash cost and will vest in full on the one-year anniversary of the grant date, subject to the plan’s accelerated vesting provisions. Following this grant, he holds 25,627 shares of common stock, including this award. The restricted stock units carry dividend equivalent rights, giving him the same cash dividends that would be paid on the underlying common shares while the units are unvested.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,556 | $0.00 | $0.00 |
Footnotes (1)
- F1. Represents an award of restricted stock units under the Forum Energy Technologies, Inc. 2016 Second Amended and Restated Stock and Incentive Plan (the "Plan"). Each restricted stock unit is subject to transferability and other restrictions that lapse upon vesting of the restricted stock unit. The restricted stock unit award vests in full on the one-year anniversary of the date of grant, subject to accelerated vesting of the entire award (as defined in the Plan). The restricted stock unit agreement also includes dividend equivalent rights that entitle the reporting person to the same dividends that would be payable were the shares of common stock underlying the restricted stock units actually outstanding at the time such dividends were issued.
FAQ
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What insider transaction did FET director Paul E. Rowsey III report?
Paul E. Rowsey III reported receiving an award of 2,556 restricted stock units representing Forum Energy Technologies common stock. The grant is a form of equity compensation under the company’s 2016 Second Amended and Restated Stock and Incentive Plan, not an open-market stock purchase.
When do the newly granted FET restricted stock units vest?
The restricted stock unit award vests in full on the one-year anniversary of the grant date. Vesting is also subject to potential accelerated vesting of the entire award as defined under the Forum Energy Technologies 2016 Second Amended and Restated Stock and Incentive Plan.
What dividend rights are attached to the new FET restricted stock unit grant?
The restricted stock unit agreement includes dividend equivalent rights. This entitles the director to receive the same dividends that would be paid if the underlying Forum Energy Technologies common shares were outstanding, for as long as the restricted stock units remain unvested.
Under which plan were the Forum Energy Technologies restricted stock units granted?
The 2,556 restricted stock units were granted under the Forum Energy Technologies, Inc. 2016 Second Amended and Restated Stock and Incentive Plan. This plan governs the grant terms, vesting schedule, accelerated vesting conditions, and associated dividend equivalent rights.
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