Eaton Corp plc Files 8-K on Officer/Director Changes
Ticker: ETN · Form: 8-K · Filed: Mar 1, 2024 · CIK: 1551182
| Field | Detail |
|---|---|
| Company | Eaton CORP PLC (ETN) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
TL;DR
Eaton's 8-K shows leadership changes and new officer compensation plans.
AI Summary
Eaton Corp plc filed an 8-K on March 1, 2024, reporting events as of February 28, 2024. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing is routine and reports on standard corporate governance matters without indicating any immediate financial distress or significant operational changes.
Key Players & Entities
- Eaton Corp plc (company) — Registrant
- February 28, 2024 (date) — Date of earliest event reported
- March 1, 2024 (date) — Filing date
FAQ
What specific officer or director positions were affected by the changes reported in this 8-K?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' but does not specify the names or exact roles affected within this document.
When was the earliest event reported in this 8-K?
The earliest event reported in this 8-K was on February 28, 2024.
What is the primary purpose of this 8-K filing for Eaton Corp plc?
The primary purpose is to report significant corporate events, including changes in directors and officers, and related compensation arrangements, as well as to file financial statements and exhibits.
Where is Eaton Corp plc's principal executive office located?
Eaton Corp plc's principal executive office is located at Eaton House, 30 Pembroke Road, Dublin 4, Ireland.
What is the SEC file number for Eaton Corp plc?
The SEC file number for Eaton Corp plc is 000-54863.
Filing Stats: 680 words · 3 min read · ~2 pages · Grade level 14.4 · Accepted 2024-03-01 12:38:49
Key Financial Figures
- $0.01 — e on which registered Ordinary shares ($0.01 par value) ETN New York Stock Excha
Filing Documents
- ef20022876_8k.htm (8-K) — 28KB
- 0001140361-24-010702.txt ( ) — 161KB
- etn-20240228.xsd (EX-101.SCH) — 4KB
- etn-20240228_lab.xml (EX-101.LAB) — 21KB
- etn-20240228_pre.xml (EX-101.PRE) — 16KB
- ef20022876_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers At a meeting held on February 28, 2024, the Compensation and Organization Committee of the Board of Directors of the registrant (the "Committee") established corporate performance criteria that will be used to determine the amount of 2024 incentive compensation awards under the Executive Incentive Compensation Plan (the "Plan"). The Committee set specific Adjusted Earnings Per Share and Adjusted Operating Cash Flow metrics for the 2024 Plan corporate performance criteria . In addition to these quantitative goals, the Committee may also consider other performance factors in determining final awards. These include, but are not limited to, performance versus profit plan goals, performance versus that reported for the Company's peers, and progress toward the execution of the Company's growth strategies. The Plan participants consist of the Executive Officers of Eaton Corporation and approximately 3,100 other salaried employees. At the same meeting, the Committee established 2024 target incentive opportunities for the Executive Officers. The individual incentive targets for the current executive officers who were named in the summary compensation table of the registrant's 2023 Proxy Statement (the "Named Executive Officers") range from 100% to 170%. At the meeting, the Committee also established performance criteria for the Company's long-term performance-based Executive Strategic Incentive Program ("ESIP") 2024-2026 award period and approved individual targets and grants for the Named Executive Officers. The 2024-2026 award period opportunities for the Named Executive Officers took the form of performance share units ("PSUs") and grants at the target level range from 4,190 PSUs to 24,930 PSUs. The actual number of PSUs earned will depend upon the registrant's total return to shareholders, assuming reinvestment of
Financial Statements and Exhibits
Financial Statements and Exhibits. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Eaton Corporation plc Date: March 1, 2024 /s/ Taras Szmagala Taras G. Szmagala, Executive Vice President and Chief Legal Officer