Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
−Removed: Our common stock trades on the NYSE under the trading symbol “FET.” As of February 24, 2020 , there were approximately 57 shareholders of record of our common stock.
+Added: Our common stock trades on the NYSE under the trading symbol “FET.” As of February 26, 2021, there were approximately 34 common stockholders of record.
In calculating the number of shareholders, we consider clearing agencies and security position listings as one shareholder for each agency or listing.
No dividends were declared or issued during 2020 or 2019, and we do not currently have any plans to pay cash dividends in the future.
−Removed: Our future dividend policy is within the discretion of our board of directors and will depend upon various factors, including our results of operations, financial condition, capital requirements, investment opportunities, and other loan agreements.
−Removed: Performance Graph
−Removed: The following graph compares total shareholder return on our common stock with the Standard & Poor’s 500 Stock Index and the Philadelphia Oil Service Sector Index (“OSX”), an index of oil and natural gas related companies that represents an industry composite of our peers.
−Removed: This graph covers the period from December 31, 2014 through December 31, 2019 .
−Removed: This comparison assumes the investment of $100 on December 31, 2014 and the reinvestment of all dividends.
−Removed: The shareholder return set forth is not necessarily indicative of future performance.
−Removed: The performance graph above is furnished and not filed for purposes of Section 18 of the Exchange Act and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933 (the “Securities Act”) unless specifically identified therein as being incorporated therein by reference.
−Removed: The performance graph is not soliciting material subject to Regulation 14A.
+Added: Our future dividend policy is within the discretion of our board of directors and will depend upon various factors, including our results of operations, financial condition, capital requirements, investment opportunities, and restrictions under our loan agreements.
Purchase of Equity Securities
−Removed: Following is a summary of our repurchases of our common stock during the three months ended December 31, 2019 .
−Removed: Total number of shares purchased (a)
−Removed: Average price paid per share
−Removed: Total number of shares purchased as part of publicly announced plan or programs (b)
−Removed: Maximum value of shares that may yet be purchased under the plan or program (in thousands) (b)
−Removed: October 1, 2019 - October 31, 2019
−Removed: November 1, 2019 - November 30, 2019
−Removed: December 1, 2019 - December 31, 2019
−Removed: a) All of the 1,945 shares purchased during the three months ended December 31, 2019 were acquired from employees in connection with the settlement of income tax and related benefit withholding obligations arising from the vesting of restricted stock grants.
−Removed: These shares were not part of a publicly announced program to purchase common stock.
−Removed: (b) In October 2014, our board of directors approved a program for the repurchase of outstanding shares of our common stock with an aggregate purchase amount of up to $150.0 million .
−Removed: From the inception of this program through December 31, 2019 , we have repurchased approximately 4.5 million shares of our common stock for aggregate consideration of approximately $100.2 million .
−Removed: Remaining authorization under this program is $49.8 million .
−Removed: Acquisition of Innovative Valve Components
−Removed: On January 9, 2017, we acquired all of the issued and outstanding partnership interests of Innovative Valve Components.
−Removed: As partial consideration for the acquisition we issued 196,249 shares of our common stock.
−Removed: Pursuant to the terms of the purchase agreement, we issued 8,400 shares of our common stock on January 9, 2018 and 82,962 shares of our common stock on January 9, 2019 in connection with the first and second anniversaries of the closing, respectively.
−Removed: The issuance of our common stock was exempt from registration under the Securities Act pursuant to Rule 4(a)(2) thereof and the safe harbor provided by Rule 506 of Regulation D promulgated thereunder.
−Removed: Contingent shares issuance
−Removed: On July 3, 2017, the Company acquired Multilift Welltec, LLC and Multilift Wellbore Technology Limited.
−Removed: In connection with the transactions, the Company entered into a contingent stock agreement with an employee.
−Removed: Pursuant to the contingent stock agreement, we issued 30,582 shares of our common stock on February 1, 2019.
−Removed: The issuance of our common stock was exempt from registration under the Securities Act pursuant to Rule 4(a)(2) thereof and the safe harbor provided by Rule 506 of Regulation D promulgated thereunder.
+Added: There were no repurchases of our common stock during the three months ended December 31, 2020.
Selected Financial Data
−Removed: The following selected historical consolidated financial data should be read in conjunction with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes appearing in Item 8 “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K to fully understand the factors that may affect the comparability of the information presented below.
−Removed: The selected historical financial data as of December 31, 2019 and 2018 , and for the years ended December 31, 2019 , 2018 and 2017 are derived from our audited consolidated financial statements and related notes thereto that are included herein.
−Removed: The selected historical data as of December 31, 2017 , 2016 and 2015 and for the years ended December 31, 2016 and 2015 have been derived from our audited consolidated financial statements, which are not included in this Annual Report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of our results to be expected in any future period.
−Removed: Year ended December 31,
−Removed: (in thousands, except per share information)
−Removed: Income Statement Data:
−Removed: Total operating expenses
−Removed: Earnings (loss) from equity investment
−Removed: Operating loss
−Removed: Total other expense (income)
−Removed: Loss before income taxes
−Removed: Income tax expense (benefit)
−Removed: Income (loss) attributable to noncontrolling interest
−Removed: Net loss attributable to common stockholders
−Removed: Weighted average shares outstanding
−Removed: Loss per share
−Removed: As of December 31,
−Removed: (in thousands)
−Removed: Balance Sheet Data:
−Removed: Cash and cash equivalents
−Removed: Net property, plant and equipment
−Removed: Long-term debt
−Removed: Total stockholders’ equity
−Removed: Year ended December 31,
−Removed: (in thousands)
−Removed: Other financial data:
−Removed: Net cash provided by (used in) operating activities
−Removed: Capital expenditures for property and equipment
−Removed: Proceeds from the sale of equity investment, business, property and equipment
−Removed: Acquisition of businesses, net of cash acquired
−Removed: Net cash provided by (used in) investing activities
−Removed: Net cash provided by (used in) financing activities
+Added: Not required under Regulation S-K for “smaller reporting companies.”
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.