Lux Neal 4

What Happened

• Lux Neal, President & CEO of Forum Energy Technologies (FET), had restricted/performance equity awards vest/convert on Feb 17, 2026. A total of 157,710 shares were issued on conversion/settlement (exercise/conversion code M).
• To satisfy tax withholding related to the settlement, 62,162 shares were surrendered (disposition code F) at an implicit share value of $50.59, resulting in proceeds/withholding of approximately $3,144,775.

Key Details

• Transaction date: 2026-02-17; Form 4 filed 2026-02-19 (timely within the SEC 2-business-day rule).
• Shares issued on conversion/settlement: 157,710 (13,933 + 24,383 + 57,594 + 30,900 + 30,900).
• Shares surrendered to cover taxes: 62,162 (5,482 + 9,699 + 22,663 + 12,159 + 12,159) at $50.59 per share; total ≈ $3,144,775.
• Transaction codes: M = exercise/conversion of derivative (vest/settle of RSUs/PRSUs); F = shares surrendered to satisfy tax liability.
• Footnotes: F1 = vesting of RSUs granted Feb 17, 2023; F2 = shares surrendered for taxes; F3 = settlement of previously certified performance RSUs.
• Shares owned after the transaction are not shown in the provided excerpt — see the full Form 4 for total post-transaction holdings.

Context

• This was not an open-market sale for cash as a routine trade signal; it reflects the vesting/settlement of equity awards and the common practice of surrendering shares to cover withholding taxes (a cashless/withholding settlement). Such filings document executive compensation events rather than an outright investment decision.