Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-12

Forum Energy Technologies (FET)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$6,163,337
Neal Lux total, FY2025
33rd
CEO pay percentile vs peers
CEO-to-median pay ratio
97.98%
Say-on-pay support, latest vote
Companies that benchmark against FET
11 companies name FET as a compensation peer

Each company listed discloses FET in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named FET in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Neal Lux$717,769$0$4,232,105$0$1,196,463$0$17,000$6,163,337
President and Chief Executive Officer
D. Lyle Williams502,38501,762,3490619,408017,5002,901,642
EVP and Chief Financial Officer
John Ivascu398,49001,079,2180473,304017,0001,968,012
EVP, General Counsel, Chief Compliance Officer and Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Neal Lux$6,163,337$5,061,976+1,101,361
D. Lyle Williams2,901,6422,539,810+361,832
John Ivascu1,968,0121,798,724+169,288

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
John IvascuPRSU11,410
Neal LuxPRSU46,350
John IvascuRSU22,819
Neal LuxRSU92,699
D. Lyle WilliamsPRSU18,540
D. Lyle WilliamsRSU37,080
03b

Vehicle mix — grant-date fair value by award type

Grant-level vehicle detail not disclosed.

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
LuxRSU92,699$3,425,228
LuxPSU61,8002,283,510
LuxPSU57,5942,128,098
LuxRSU57,5942,128,098
LuxRSU50,0001,847,500
D. Lyle WilliamsRSU37,0801,370,106
LuxRSU30,9001,141,755
D. Lyle WilliamsRSU25,000923,750
D. Lyle WilliamsPSU24,720913,404
LuxRSU24,383900,952
D. Lyle WilliamsPSU23,038851,254
D. Lyle WilliamsRSU23,038851,254
John IvascuRSU22,819843,162
John IvascuPSU15,212562,083
John IvascuRSU15,000554,250
John IvascuPSU14,178523,877
John IvascuRSU14,177523,840
John IvascuRSU14,176523,803
LuxRSU13,933514,824
D. Lyle WilliamsRSU12,360456,702
D. Lyle WilliamsRSU11,961441,959
John IvascuRSU7,608281,116
John IvascuRSU6,900254,955
D. Lyle WilliamsRSU6,835252,553
John IvascuRSU3,943145,694
05

Incentive-plan design — the Compensation Discussion & Analysis

The executive compensation program is designed to attract and retain talented executive officers and align their interests with those of stockholders over the long term, while holding management accountable for financial results and insisting on the highest standards of ethical conduct and operational safety.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-087,520,299155,1027,15297.98%Passed
20252025-05-096,858,861604,14521,65991.9%Passed
20242024-05-107,730,508116,87868,40497.66%Passed
20232023-05-125,185,800319,29673,17392.96%Passed
20222022-05-101,853,42596,81513295.03%Passed
20212021-05-112,352,005258,57010,49489.73%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-0897.98%a
20252025-05-0991.9%b
20242024-05-1097.66%c

a. Approved under the standard stated in the filing — “Because the three nominees for director who receive the greatest number of votes cast at the meeting will be elected, abstentions will not affect the outcome of the voting on Proposal 1.”.

b. Approved under the standard stated in the filing — “Because the two nominees for director who receive the greatest number of votes cast at the meeting will be elected, abstentions will not affect the outcome of the voting on Proposal 1.”.

c. Approved under the standard stated in the filing — “Because the approval of the compensation of our named executive officers on an advisory basis, the approval of the amendment to our Second Amended and Restated 2016 Stock and Incentive Plan and the ratification of the appointment of our independent registered public accounting firm requires the approval of a majority in voting power of the shares of common stock present in person or by proxy at the meeting and entitled to vote on the applicable matter, abstentions will have the same effect as votes against these proposals.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael McShaneIndependent · Board Chair · Compensation$157,500$150,004$0$307,504
Evelyn M. AngelleIndependent · Audit (Chair) · Nominating, Governance and Sustainability95,000150,0040245,004
John A. CarrigIndependent · Audit · Nominating, Governance and Sustainability (Chair)90,000150,0040240,004
Paul E. Rowsey IIIIndependent · Audit · Compensation87,500150,0040237,504
Louis A. Raspino JrIndependent · Compensation (Chair) · Newly elected85,000150,0040235,004
Leslie A. BeyerIndependent · Compensation · Nominating, Governance and Sustainability · Newly elected174,37500174,375
Mark W. SmithIndependent · Audit · Compensation · Newly elected43,75075,0180118,768
Aron H. MarquezIndependent · Compensation · Nominating, Governance and Sustainability · Newly elected41,25075,0180116,268
C. Christopher GautIndependent · Not standing for re-election · Departed during FY105,00005,864110,864
Mr. LuxEmployee director0
09

Board fee structure and ownership guideline

Annual cash retainer$70,000
Annual equity retainer$150,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)10,000 / 15,000 / 10,000
Stock ownership guideline$210,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$879,375
Equity awards (grant-date value)$900,056
All other compensation$5,864
Total cost of the board$1,785,295

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Forum Energy Technologies names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Forum Energy Technologies.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1NOV Inc.2025Clay Williams$1,000,000$9,576,940$899,208$1,129,492$12,713,187
2Oceaneering International, Inc.2025Roderick Larson910,0002,027,79604,282,4257,735,670
3Forum Energy Technologies2025Neal Lux717,7694,232,10501,196,4636,163,337
4Oil States International, Inc.2025Cindy Taylor925,0002,400,00301,654,2445,079,386
5Innovex International, Inc.2025Adam Anderson550,9692,222,4920495,0003,283,511
DMC Global Inc.not in coverage universe
Cactus, Inc.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Forum Energy Technologiesnot disclosedRSU 50 · PRSU 50not disclosednot disclosed
Cactus, Inc.not disclosednot disclosednot disclosednot disclosed
DMC Global Inc.not disclosednot disclosednot disclosednot disclosed
Innovex International, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
NOV Inc.87%PSU 50 · RSU 40 · Options 10Yes — TSR (total shareholder return) goalMeridian Compensation Partners
Oceaneering International, Inc.124%PSU 50 · RSU 50Yes — Relative TSRMeridian
Oil States International, Inc.not disclosedRSU 50 · PRSU 25 · Cash Performance Award 25not disclosedMeridian Compensation Partners

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Neal LuxDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation”. As printed: 6,163,337. Filing ↗machine: r2 · c21 · span 343952–343961
2Section 01, D. Lyle WilliamsDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation”. As printed: 2,901,642. Filing ↗machine: r6 · c21 · span 348343–348352
3Section 01, John IvascuDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation”. As printed: 1,968,012. Filing ↗machine: r8 · c21 · span 351748–351757
4Section 03, John Ivascu PRSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 425705–425711
5Section 03, Neal Lux PRSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 423104–423110
6Section 03, John Ivascu RSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 425441–425447
7Section 03, Neal Lux RSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 422869–422875
8Section 03, D. Lyle Williams PRSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 424362–424368
9Section 03, D. Lyle Williams RSUDEF 14A2026-03-270001401257-26-000021Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 424127–424133
10Section 08, Michael McShaneDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 307,504. Filing ↗machine: span 215330–215337
11Section 08, Evelyn M. AngelleDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 245,004. Filing ↗machine: span 208545–208552
12Section 08, John A. CarrigDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 240,004. Filing ↗machine: span 211219–211226
13Section 08, Paul E. Rowsey IIIDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 237,504. Filing ↗machine: span 217825–217832
14Section 08, Louis A. Raspino JrDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 235,004. Filing ↗machine: span 216573–216580
15Section 08, Leslie A. BeyerDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 174,375. Filing ↗machine: span 209247–209254
16Section 08, Mark W. SmithDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 118,768. Filing ↗machine: span 219404–219411
17Section 08, Aron H. MarquezDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 116,268. Filing ↗machine: span 214092–214099
18Section 08, C. Christopher GautDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 110,864. Filing ↗machine: span 212656–212663
19Section 08, Mr. LuxDEF 14A2026-03-270001401257-26-000021Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2026 voteForm 8-K2026-05-120001401257-26-000039Item 5.07 · say-on-pay result. As reported: 97.98% (votes for as printed: 7,520,299). Filing ↗
21Section 06, 2025 voteForm 8-K2025-05-130001401257-25-000072Item 5.07 · say-on-pay result. As reported: 91.9% (votes for as printed: 6,858,861). Filing ↗
22Section 06, 2024 voteForm 8-K2024-05-150001401257-24-000095Item 5.07 · say-on-pay result. As reported: 97.66% (votes for as printed: 7,730,508). Filing ↗
23Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 09b board cost (computed)ComputedcomputedCash 879,375 + equity 900,056 + all other 5,864 = 1,785,295, summed across the director compensation table rows.machine: formula: Σ = 1,785,295
25NOV Inc., Section 10b CEO totalDEF 14A2026-04-090001193125-26-148884CEO total compensation as printed in NOV Inc.'s own proxy. As printed: 12,713,187. Filing ↗machine: t130 · r2 · c35 · span 574372–574382
26Oceaneering International, Inc., Section 10b CEO totalDEF 14A2026-04-020000073756-26-000073CEO total compensation as printed in Oceaneering International, Inc.'s own proxy. As printed: 7,735,670. Filing ↗machine: r2 · c14 · span 1452178–1452187
27Forum Energy Technologies (subject), Section 10b CEO totalDEF 14A2026-03-270001401257-26-000021CEO total compensation as printed in Forum Energy Technologies's own proxy. As printed: 6,163,337. Filing ↗machine: r2 · c21 · span 343952–343961
28Oil States International, Inc., Section 10b CEO totalDEF 14A2026-03-270001121484-26-000017CEO total compensation as printed in Oil States International, Inc.'s own proxy. As printed: 5,079,386. Filing ↗machine: r2 · c21 · span 888287–888296
29Innovex International, Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-129169CEO total compensation as printed in Innovex International, Inc.'s own proxy. As printed: 3,283,511. Filing ↗machine: r2 · c7 · span 475965–475974
30Section 10a, Oil States International, Inc. reciprocityDEF 14A0001121484-26-000017Oil States International, Inc. names Forum Energy Technologies in its own disclosed peer group (read from its most recent proxy). Filing ↗
31Section 10a, Oceaneering International, Inc. reciprocityDEF 14A0000073756-26-000073Oceaneering International, Inc.'s most recent proxy was read; its disclosed peer group does not include Forum Energy Technologies. Filing ↗
32Section 10a, Innovex International, Inc. reciprocityDEF 14A0001193125-26-129169Innovex International, Inc. names Forum Energy Technologies in its own disclosed peer group (read from its most recent proxy). Filing ↗
33Section 10a, NOV Inc. reciprocityDEF 14A0001193125-26-148884NOV Inc.'s most recent proxy was read; its disclosed peer group does not include Forum Energy Technologies. Filing ↗