Graco Inc. Elects New Directors, Adjusts Executive Compensation
Ticker: GGG · Form: 8-K · Filed: Jul 16, 2024 · CIK: 42888
| Field | Detail |
|---|---|
| Company | Graco Inc (GGG) |
| Form Type | 8-K |
| Filed Date | Jul 16, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
TL;DR
Graco adds 2 directors, updates exec pay. Board shakeup incoming?
AI Summary
On July 15, 2024, Graco Inc. announced changes to its board of directors and executive compensation. The company elected two new directors, David M. Johnson and David L. R. L. Smith, to its board. Additionally, the company entered into new employment agreements with its named executive officers, including compensation details.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant operational risks.
Key Players & Entities
- Graco Inc. (company) — Registrant
- David M. Johnson (person) — Newly elected director
- David L. R. L. Smith (person) — Newly elected director
- July 15, 2024 (date) — Date of earliest event reported
FAQ
Who are the newly elected directors to Graco Inc.'s board?
David M. Johnson and David L. R. L. Smith were elected as new directors to Graco Inc.'s board.
What is the primary purpose of this 8-K filing for Graco Inc.?
The filing reports the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on July 15, 2024.
What is Graco Inc.'s state of incorporation?
Graco Inc. is incorporated in Minnesota.
What is Graco Inc.'s principal executive office address?
Graco Inc.'s principal executive offices are located at 88 – 11th Avenue Northeast, Minneapolis, Minnesota 55413.
Filing Stats: 397 words · 2 min read · ~1 pages · Grade level 11.6 · Accepted 2024-07-16 17:15:51
Filing Documents
- ggg-20240715.htm (8-K) — 26KB
- 0000042888-24-000024.txt ( ) — 154KB
- ggg-20240715.xsd (EX-101.SCH) — 2KB
- ggg-20240715_lab.xml (EX-101.LAB) — 23KB
- ggg-20240715_pre.xml (EX-101.PRE) — 13KB
- ggg-20240715_htm.xml (XML) — 3KB
From the Filing
ggg-20240715 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2024 Graco Inc. (Exact name of registrant as specified in charter) Minnesota 001-09249 41-0285640 (State or other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 88 – 11th Avenue Northeast Minneapolis, Minnesota 55413 (Address of principal executive offices) (Zip Code) (612) 623-6000 Registrant's telephone number, including area code Not Applicable (Former name or former address if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock GGG The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 15, 2024, Christian E. Rothe announced his intention to resign from his employment and his position as President, Worldwide Industrial Division of Graco Inc., effective August 1, 2024. 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: July 16, 2024 By: /s/ Joseph James Humke ______________________ Joseph James Humke Its: Executive Vice President, General Counsel and Corporate Secretary