Danford Michael Dewayne 4
4 · FORUM ENERGY TECHNOLOGIES, INC. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Forum Energy (FET) SVP Danford Exercises RSUs, Surrenders Shares
What Happened
Danford Michael Dewayne, Senior Vice President & Chief Human Resources Officer of Forum Energy Technologies (FET), had restricted stock units and performance RSUs settle on February 17, 2026. A total of 20,479 shares were delivered upon conversion/settlement (exercise/conversion entries showing $0 exercise price). To satisfy tax withholding obligations, 8,208 of those shares were surrendered at $50.59 per share, totaling approximately $415,244. These were not open-market sales but share withholding to cover taxes—routine for equity settlements.
Key Details
- Transaction date: 2026-02-17; Form 4 filed 2026-02-19 (timely within the usual two-business-day window).
- Shares acquired via conversion/settlement (M): 20,479 shares (exercise/conversion price reported as $0).
- Shares surrendered for tax withholding (F): 8,208 shares at $50.59 each, totaling about $415,244.
- Footnotes: F1 — vesting of RSUs granted Feb 17, 2023; F2 — shares surrendered to satisfy tax obligations; F3 — settlement of previously certified performance RSUs.
- Shares owned after the transaction: not specified in the provided excerpt of the filing.
Context
These transactions reflect the vesting/settlement of restricted and performance-based equity awards, not a discretionary open-market sale. In practice, companies and insiders commonly withhold or surrender shares to cover required taxes when awards vest; this is a routine administrative step and not necessarily an indication of the insider's view on the stock. Transaction codes: M = exercise/conversion of derivative (here, RSU/PRSUs converting to shares), F = shares withheld/surrendered for tax withholding.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-17+2,103→ 42,513 total - Tax Payment
Common Stock
[F2]2026-02-17$50.59/sh−827$41,838→ 41,686 total - Exercise/Conversion
Common Stock
[F3]2026-02-17+3,680→ 45,366 total - Tax Payment
Common Stock
[F2]2026-02-17$50.59/sh−1,600$80,944→ 43,766 total - Exercise/Conversion
Common Stock
[F3]2026-02-17+7,088→ 50,854 total - Tax Payment
Common Stock
[F2]2026-02-17$50.59/sh−2,789$141,096→ 48,065 total - Exercise/Conversion
Common Stock
[F3]2026-02-17+3,804→ 51,869 total - Tax Payment
Common Stock
[F2]2026-02-17$50.59/sh−1,496$75,683→ 50,373 total - Exercise/Conversion
Common Stock
[F3]2026-02-17+3,804→ 54,177 total - Tax Payment
Common Stock
[F2]2026-02-17$50.59/sh−1,496$75,683→ 52,681 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-02-17−2,103→ 0 total→ Common Stock (2,103 underlying) - Exercise/Conversion
Performance Restricted Stock Units
[F3]2026-02-17−3,680→ 0 total→ Common Stock (3,680 underlying) - Exercise/Conversion
Performance Restricted Stock Units
[F3]2026-02-17−7,088→ 0 total→ Common Stock (7,088 underlying) - Exercise/Conversion
Performance Restricted Stock Units
[F3]2026-02-17−3,804→ 0 total→ Common Stock (3,804 underlying) - Exercise/Conversion
Performance Restricted Stock Units
[F3]2026-02-17−3,804→ 0 total→ Common Stock (3,804 underlying)
Footnotes (3)
- [F1]Reflects the vesting of restricted stock units granted on February 17, 2023.
- [F2]These shares were surrendered to satisfy the tax obligations related to the settlement of the associated equity award.
- [F3]Reflects the settlement of previously certified performance restricted stock units.