[SCHEDULE 13G/A] FORUM ENERGY TECHNOLOGIES, INC. SEC Filing

Rhea-AI Filing Summary

MacKay Shields LLC reports beneficial ownership of 244,223 shares of Forum Energy Technologies common stock, representing 2.05% of the class. The filer states it has sole voting and dispositive power over these shares and indicates the holdings were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer. The filing is an amendment to a Schedule 13G and affirms no group affiliation or applicable parent/subsidiary acquisition details.

Insights

Financial Analyst

TL;DR: A modest institutional stake of 2.05% is disclosed, showing interest but unlikely to move control or valuation materially.

The filing documents a passive reporting position by an investment adviser with sole voting and dispositive power over 244,223 shares (2.05%). For investors, this level of ownership signals institutional participation without triggering 5% ownership thresholds that often attract activist attention. No shared control, group affiliation, or material transactions are disclosed, so immediate market impact is likely limited.

Corporate Governance Expert

TL;DR: Disclosure is routine and compliant; ownership is under the 5% reporting band that often draws governance scrutiny.

The filer certifies the securities are held in the ordinary course of business and not for control purposes, a standard statement for passive Schedule 13G filers. The absence of shared voting power or group membership reduces governance implications. This amendment updates previously reported holdings but does not indicate any governance initiatives or coordination with other shareholders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

FORUM ENERGY TECHNOLOGIES, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

34984V209

(CUSIP Number)

09/16/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 34984V209

1

Names of Reporting Persons

MacKay Shields LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 244,223.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 244,223.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

244,223.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.05 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FORUM ENERGY TECHNOLOGIES, INC.
(b)	Address of issuer's principal executive offices: 10344 SAM HOUSTON PARK DRIVE, SUITE 300, HOUSTON, TEXAS 77064
Item 2.
(a)	Name of person filing: MacKay Shields LLC
(b)	Address or principal business office or, if none, residence: 299 Park Avenue 32nd Floor New York, New York 10171
(c)	Citizenship: MacKay Shields LLC - DELAWARE
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 34984V209
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 244,223
(b)	Percent of class: 2.05 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: MacKay Shields LLC - 244,223
	(ii) Shared power to vote or to direct the vote: MacKay Shields LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: MacKay Shields LLC - 244,223
	(iv) Shared power to dispose or to direct the disposition of: MacKay Shields LLC - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MacKay Shields LLC

Signature:	Chris Fitzgerald
Name/Title:	Chief Compliance Officer
Date:	09/18/2025

FAQ

What stake does MacKay Shields LLC report in Forum Energy Technologies (FET)?

The filer reports beneficial ownership of 244,223 shares, representing 2.05% of FET's common stock.

Does MacKay Shields have voting or dispositive power over the FET shares?

Yes; the filing states MacKay Shields has sole voting power and sole dispositive power for all 244,223 shares.

Is the MacKay Shields position intended to influence control of Forum Energy Technologies?

The filer certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Does the filing indicate a group or parent/subsidiary acquired the securities?

No. The filing lists no group affiliation and states items regarding parent/subsidiary identification are not applicable.

What form was filed for this disclosure and how is the filer classified?

The disclosure is an amendment to a Schedule 13G and the reporting person is classified as IA (investment adviser) with Delaware organization.