Paul Rowsey - Director | FORUM ENERGY TECHNOLOGIES (FET) Executive Profile & Compensation

About Paul E. Rowsey III

Independent director of Forum Energy Technologies (FET), age 70, appointed to the Board in November 2021; serves on the Audit Committee and the Compensation & Human Capital Committee. Background spans founding and chairing private real estate equity funds (E2M Partners) and chairing major industrial boards (former Non‑Executive Chairman of Valaris plc and predecessor Ensco plc). Education: Duke University and SMU School of Law; citizen of the Cherokee Nation. The Board has affirmatively determined Mr. Rowsey is independent under NYSE standards .

Past Roles

Organization	Role	Tenure	Committees/Impact
E2M Partners, LLC	Founder & Chairman	Since Nov 2004	Sponsor/manager of private real estate equity funds
JLB Partners	Former Executive Chairman	Not disclosed	National developer/manager of Class A multifamily assets
Valaris plc (and predecessor Ensco plc)	Former Non‑Executive Chairman	Not disclosed	Offshore drilling contractor governance leader
Compatriot Capital, Inc.	President & CEO	May 2011–Sept 2017	Financial, business, and legal leadership

External Roles

Organization	Role	Public/Private	Status
E2M Partners, LLC	Founder & Chairman	Private	Current
Valaris plc	Non‑Executive Chairman	Public	Former
Ensco plc	Non‑Executive Chairman	Public	Former
JLB Partners	Executive Chairman	Private	Former

Board Governance

Committee assignments: Audit Committee member; Compensation & Human Capital Committee member .
Committee activity levels (2024): Audit Committee held 6 meetings; Compensation & Human Capital Committee held 3; NG&S Committee held 3; total Board meetings 5, with each director attending at least 90% of Board and committee meetings; all then‑serving directors attended the 2024 Annual Meeting .
Independence: Affirmed independent under NYSE standards; also meets heightened independence standards for Audit and Compensation committees .
Board leadership: Lead Independent Director is Michael McShane (transitions to Chairman upon Gaut’s retirement); independent executive sessions held at least once at each regularly scheduled meeting in 2024 .

Fixed Compensation (Director)

Component	FY 2024 Amount	Notes
Annual cash retainer	$70,000	Standard non‑employee director program
Audit Committee member fee	$10,000	Member retainer
Compensation & Human Capital Committee member fee	$7,500	Member retainer
Total cash fees (Fees Earned)	$87,500	Sum of retainer + committee fees
Equity grant (restricted stock/RSUs)	7,975 units	Granted Mar 6, 2024; director election of restricted stock or RSUs
Grant‑date fair value (equity)	$150,010	Based on $18.81 per unit grant price
Director compensation total	$237,510	Cash + equity for 2024

Vesting and deferral: Director grants vest in full on first anniversary of grant; RSU settlement deferral allowed per program .

Performance Compensation (Director)

Component	Performance Condition	Vesting	Notes
Director equity (restricted stock/RSUs)	None (time‑based only)	Full vest on first anniversary	Directors receive time‑based equity; no PSUs/TSR metrics apply to director awards

FET’s performance‑conditioned metrics (Adjusted EBITDA, Free Cash Flow, TRIR/Perfect Days, Strategic Objectives) are used for executives (NEOs) via the EMIP and Performance RSUs, not for director compensation .

Other Directorships & Interlocks

Company	Market Role	Potential Interlock/Conflict	Disclosure
Valaris plc / Ensco plc	Offshore drilling contractor	Sector overlap with FET’s offshore products; no related‑party transactions disclosed involving Rowsey	Proxy lists related‑party items with Variperm sellers and entities linked to a former director; none cite Rowsey
E2M Partners / JLB Partners	Real estate funds/multifamily development	Unrelated to FET’s energy equipment/services	No Rowsey‑related transactions disclosed

Overboarding: FET’s policy limits public boards; NG&S Committee reviewed nominees and found compliance with overboarding policy in 2024 .

Expertise & Qualifications

Extensive finance, business, and legal expertise; founder/operator experience; complex transaction negotiation .
Human capital and sustainability oversight experience through public school system trustee work and initiatives with Cherokee Nation; demographic diversity contributions .

Equity Ownership

Metric	Value	Notes
Total beneficial ownership (shares)	14,514	As of Mar 14, 2025
Ownership % of class	<1%	Asterisk in proxy denotes less than 1%
Unvested restricted stock held (12/31/2024)	7,975	As of year‑end
Stock ownership requirement	$210,000	Directors must hold ≥$210k in eligible ownership
Guideline compliance status	All directors compliant or within 5‑year grace period	Board evaluates annually; prior year average stock price used
Pledging/hedging	Prohibited by policy	No pledging; hedging/shorts/options banned; Rule 10b5‑1 plans permitted

Governance Assessment

Board effectiveness: Dual committee service (Audit and Compensation) enhances oversight across financial reporting, cybersecurity, and pay/human capital; independence affirmed; attendance strong (≥90%)—supports investor confidence in governance rigor .
Alignment: Cash/equity mix ($87.5k cash; $150.0k equity) aligns directors to shareholder outcomes via equity ownership and stringent stock ownership policy ($210k minimum; compliance or grace period) and anti‑hedging/pledging rules .
Conflicts: No related‑party transactions disclosed involving Rowsey; prior sector ties (Valaris/Ensco) present industry familiarity but no transaction conflicts; overboarding compliance confirmed .
Compensation governance: Use of independent consultant (Meridian) for director pay benchmarking; director compensation positioned around market median; practices include clawbacks for executives, no repricing, double‑trigger CIC protection under equity plan—collectively viewed as shareholder‑friendly .

Red flags: None disclosed specific to Rowsey—no related‑party transactions, no pledging/hedging, independence maintained, attendance strong .