Business Context and Reporting Period
This Form 8-K Current Report was filed by Forum Energy Technologies, Inc. on August 15, 2012. The report addresses corporate governance changes, specifically the appointment of a new Principal Accounting Officer.
Key Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The material change reported is the appointment of Tylar K. Schmitt as the Company's Principal Accounting Officer, effective August 15, 2012. Mr. Schmitt will assume this role in addition to his existing duties as Corporate Controller, a position he has held since February 2007.
Management Commentary and Risks
- Executive Background: Mr. Schmitt is a Certified Public Accountant with an MBA from Baylor University. His prior experience includes roles at Veritas DGC Inc., Universal Compression, Inc., and PricewaterhouseCoopers LLP.
- Indemnification: The Company and Mr. Schmitt will enter into an Indemnification Agreement consistent with the form filed in the Company's September 1, 2011 Form S-1 Registration Statement.
- Related Party Transactions: The filing states there are no family relationships between Mr. Schmitt and any director or executive officer, and no transactions requiring reporting under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the Principal Accounting Officer appointment (August 15, 2012).
- Confirm the terms of the Indemnification Agreement referenced in the filing.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.