UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 1, 2023
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 1, 2023 , the Board of Directors (the “Board”) of Forum Energy Technologies, Inc. (the “Company) appointed Ms. Leslie A. Beyer, as a member of the Board. Ms. Beyer will serve as member of the Nominating, Governance and Sustainability Committee and be subject to election as a Class I director at the 2025 Annual Meeting of Stockholders. Ms. Beyer and the Company have entered into the Company’s standard form indemnification agreement. In addition, Ms. Beyer will receive compensation consistent with that provided to the Company’s other non-employee directors, including an award of restricted stock units equal to approximately $150,000. There is no arrangement or understanding between Ms. Beyer and any other persons pursuant to which she was selected as a director. The Company is not aware of any transaction in which Ms. Beyer has an interest requiring disclosure under Item 404(a) of Regulation S-K.
In addition, in furtherance of the Company’s previously reported management transition that began in February 2022, on December 1, 2023 , the Board of Directors agreed with Mr. C. Christopher Gaut, Executive Chairman of the Board, that he will transition to serve as Chairman of the Board on January 1, 2024. With effect at such time, Mr. Gaut will cease to be an executive officer of the Company. Mr. Gaut will receive compensation consistent with that provided to the Company’s other non-employee directors as well as an annual $100,000 fee for his services as Chairman and subsidized group health plan premium coverage.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 4, 2023 | FORUM ENERGY TECHNOLOGIES, INC. | |||||||||||||
/s/ John C. Ivascu | ||||||||||||||
John C. Ivascu | ||||||||||||||
Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary | ||||||||||||||