Graco Inc. Reports Director Changes and Executive Compensation
Ticker: GGG · Form: 8-K · Filed: Apr 26, 2024 · CIK: 42888
| Field | Detail |
|---|---|
| Company | Graco Inc (GGG) |
| Form Type | 8-K |
| Filed Date | Apr 26, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, board-of-directors, executive-compensation
Related Tickers: GRA
TL;DR
Graco Inc. swapped a director, elected a new one, and updated exec pay. Board changes are in.
AI Summary
On April 26, 2024, Graco Inc. filed an 8-K report detailing several key events. The company announced the departure of director James R. Jilek and the election of new director David M. Dacquino. Additionally, Graco Inc. reported on compensatory arrangements for its named executive officers and submitted matters to a vote of security holders.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters like director changes and executive compensation, which typically carry low immediate risk.
Key Players & Entities
- Graco Inc. (company) — Registrant
- James R. Jilek (person) — Departing Director
- David M. Dacquino (person) — Newly Elected Director
- April 26, 2024 (date) — Filing Date
FAQ
Who has departed from Graco Inc.'s board of directors?
James R. Jilek has departed from Graco Inc.'s board of directors.
Who has been elected as a new director to Graco Inc.'s board?
David M. Dacquino has been elected as a new director to Graco Inc.'s board.
What specific items are being reported under Item 5.02 of the 8-K filing?
Item 5.02 covers the departure of directors or certain officers, election of directors, and appointment of certain officers, as well as compensatory arrangements of certain officers.
What other items are included in this 8-K filing besides director and officer changes?
This 8-K filing also includes information on the submission of matters to a vote of security holders and financial statements and exhibits.
What is the fiscal year end for Graco Inc.?
Graco Inc.'s fiscal year ends on December 27th.
Filing Stats: 913 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-04-26 15:59:14
Filing Documents
- ggg-20240426.htm (8-K) — 46KB
- 0000042888-24-000020.txt ( ) — 176KB
- ggg-20240426.xsd (EX-101.SCH) — 2KB
- ggg-20240426_lab.xml (EX-101.LAB) — 23KB
- ggg-20240426_pre.xml (EX-101.PRE) — 13KB
- ggg-20240426_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. On April 26, 2024, the Company held its Annual Meeting. Set forth below are the final voting results on each matter submitted to a vote of security holders at the Annual Meeting. Each proposal is described in detail in the 2024 Proxy Statement. Proposal 1 The following directors were elected to serve for three-year terms: Name For Against Abstain Broker Non-Votes Heather L. Anfang 138,350,944 1,977,656 93,745 9,595,860 Archie C. Black 125,102,171 15,201,097 119,077 9,595,860 Brett C. Carter 127,975,731 12,343,475 103,139 9,595,860 Proposal 2 The appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year 2024 was ratified: For Against Abstain 140,113,716 9,660,446 244,043 Proposal 3 Shareholders approved, on an advisory basis, the compensation paid to our Named Executive Officers as disclosed in the 2024 Proxy Statement: For Against Abstain Broker Non-Votes 125,577,049 14,561,231 284,065 9,595,860 Proposal 4 Shareholders approved, the Graco Inc. Amended and Restated 2019 Incentive Plan. For Against Abstain Broker Non-Votes 129,931,724 10,297,931 192,690 9,595,860
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1 Graco Inc. Amended and Restated 2019 Stock Incentive Plan (Incorporated by reference to Appendix A to the Company's proxy statement for the Annual Meeting of Shareholders held on April 26, 2024) . 104 Cover Page Interactive Data File (included 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. GRACO INC. Date: April 26, 2024 By: /s/ Joseph James Humke ______________________ Joseph James Humke Its: Executive Vice President, General Counsel and Corporate Secretary