Forum Energy Technologies, Inc 8-K, filed Jul 1, 2020
Forum Energy Technologies, Inc. (FET)
8-K
2020-07-01
For: 2020-06-29
View Original
Added on
April 04, 2026
About this 8-K
Forum Energy Technologies, Inc filed this 8-K on July 1, 2020, reporting on events of June 29, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 29, 2020
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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 June 30, 2020, Forum Energy Technologies, Inc. (the “Company”) announced that the Board of Directors (the “Board”) appointed D. Lyle Williams Jr., 50, as Executive Vice President and Chief Financial Officer, effective July 10, 2020. Mr. Williams succeeds Pablo G. Mercado, 43, who resigned as Senior Vice President and Chief Financial Officer on June 29, 2020, with effect from July 10, 2020.
Mr. Williams has served as Senior Vice President - Operations since May 2018. Since January 2007, Mr. Williams has held various financial and operations roles with the Company, including Vice President - Corporate Development and Treasurer; Vice President - Operations Finance; Vice President - Finance and Accounting, Drilling and Subsea Segment; Senior Vice President - Downhole Technologies; Vice President - Subsea Products; and Vice President - Capital Equipment. Prior to joining the Company, Mr. Williams held various operations positions with Cooper Cameron Corporation, including Director of Operations - Engineering Products. He holds a B.A. in Economics and English from Rice University and an M.B.A. from Harvard University Graduate School of Business Administration. Additional information about Mr. Williams required under Items 401(b), (d) and (e) and Item 404(a) of Regulation S-K is contained on page four of the Company’s Definitive Proxy Statement for the 2020 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on April 2, 2020, which is incorporated herein by reference (the “Proxy Statement”). Any material changes to Mr. William’s current compensatory arrangements in connection with his appointment will be disclosed after they have been finalized.
Item 7.01. Regulation FD Disclosure.
On June 30, 2020, the Company issued a press release describing the matters in Item 5.02 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference herein. The information provided pursuant to this Item 7.01 is “furnished” and shall not be deemed to be “filed” with the SEC or incorporated by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filings.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Exhibit Title or Description | |
104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 30, 2020 | FORUM ENERGY TECHNOLOGIES, INC. | |||
/s/ John C. Ivascu | ||||
John C. Ivascu | ||||
Senior Vice President, General Counsel, Chief Compliance Officer and Secretary | ||||
Exhibit 99.1
Forum Energy Technologies, Inc. Announces Executive Management Changes
HOUSTON--(BUSINESS WIRE)--June 30, 2020-Forum Energy Technologies, Inc. (NYSE: FET) (“Forum” or the “Company”) announced today that, as part of its continuing cost reduction plan, the corporate executive team will be reduced and reorganized. Changes to the executive team will be effective July 10, 2020 and are as follows:
• | D. Lyle Williams, Jr. will be the Executive Vice President and Chief Financial Officer. Mr. Williams joined Forum in 2007 after previously working for Cameron International. He most recently served as Forum’s Senior Vice President, Operations, overseeing the Drilling, Subsea, Production Equipment and Valve Solutions product lines. Lyle also previously held several senior financial and operating roles across Forum. Lyle, 50, has a bachelor’s degree from Rice University and an MBA from Harvard Business School. |
• | Neal Lux will be the Executive Vice President, Operations with oversight of all Forum operating segments. Mr. Lux joined Forum in 2017 following its acquisition of the Global Tubing joint venture. Prior to that, he served as President of Global Tubing during Forum’s initial investment in 2013. Most recently, Neal served as Forum’s Senior Vice President, Operations, leading the Completions segment and Downhole product line. Neal began his career with PriceWaterhouseCoopers, and worked for Maverick Tube and Tenaris. Neal, 44, has an engineering degree from Purdue University. |
Lyle and Neal will report to C. Christopher (Cris) Gaut, Forum’s Chairman and Chief Executive Officer, as will John C. Ivascu, Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary; Michael D. Danford, Senior Vice President and Chief Human Resources Officer; and Neil Brent, Vice President of Internal Audit.
Forum also announced that Pablo G. Mercado, Forum’s Senior Vice President and Chief Financial Officer, is resigning from Forum to pursue other opportunities. Cris Gaut commented, “We are sorry to see Pablo leave us. He has done an outstanding job for Forum since joining us in 2011. We wish Pablo great success in his future endeavors.”
Forum Energy Technologies is a global oilfield products company, serving the drilling, downhole, subsea, completions and production sectors of the oil and natural gas industry. The Company’s products include highly engineered capital equipment as well as products that are consumed in the drilling, well construction, production and transportation of oil and natural gas. Forum is headquartered in Houston, TX with manufacturing and distribution facilities strategically located around the globe. For more information, please visit www.f-e-t.com.
Source: Forum Energy Technologies, Inc.
Company Contact
Lyle Williams
713-351-7920
Lyle.Williams@f-e-t.com
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