secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2022-02-22T23:59:59+00:00
Accession:  0001401257-22-000018
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125722000018/0001401257-22-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125722000018/fet-20220218.htm
  HTML page:      https://secwatch.observer/filing/0001401257-22-000018

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