Forum Energy appoints Neal Lux CEO with $600K salary; Gaut becomes Executive Chairman with reduced pay

FORUM ENERGY TECHNOLOGIES, INC.

Neal Lux appointed President and CEO effective Feb 18, 2022; base salary raised to $600,000 with target bonus of 100% of base.
Lux granted 47,519 performance RSUs (stock-price hurdles) and 47,519 RSUs, each vesting over three years.
C. Christopher Gaut transitions to Executive Chairman; base salary cut to $500,000, target bonus reduced from 110% to 100% of base.
Gaut receives $150,000 cash bonus vesting quarterly over one year and 33,084 phantom units vesting over two years; waives future severance.
Gaut's prior equity awards have service-vesting conditions deemed satisfied and remain outstanding.

item 5.02 item 9.01

Executive movements

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Role change

C. Christopher Gaut

Executive Chairman

FET · FORUM ENERGY TECHNOLOGIES, INC.

Effective: 2022-02-18
Filed: February 22, 2022, 6:59 PM ET

Effective as of the same day, and as previously announced, Mr. C. Christopher Gaut was appointed Executive Chairman of the Company’s board of directors.

Appointed

Neal Lux

President and Chief Executive Officer

FET · FORUM ENERGY TECHNOLOGIES, INC.

Effective: 2022-02-18
Filed: February 22, 2022, 6:59 PM ET

Mr. Neal Lux was appointed as President and Chief Executive Officer of the Company and a member of the board of directors, effective February 18, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

C. Christopher Gaut was appointed as Executive Chairman at FORUM ENERGY TECHNOLOGIES, INC..

Action: appointed
Role: Executive Chairman

Exact text from the filing

Effective as of the same day, and as previously announced, Mr. C. Christopher Gaut was appointed Executive Chairman of the Company’s board of directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Neal Lux was appointed as President and Chief Executive Officer at FORUM ENERGY TECHNOLOGIES, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Neal Lux was appointed as President and Chief Executive Officer of the Company and a member of the board of directors, effective February 18, 2022.

View on SEC.gov

FORUM ENERGY TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001401257-22-000018

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