Stanley Black & Decker Reports Officer/Director Changes, Comp Arrangements

TL;DR

**Stanley Black & Decker just filed an 8-K about executive changes and pay, keep an eye out for details.**

AI Summary

Stanley Black & Decker, Inc. filed an 8-K on January 25, 2024, reporting an event that occurred on January 24, 2024. This filing, under Items 5.02 and 9.01, indicates changes related to the departure or election of directors/officers and their compensatory arrangements, along with the inclusion of financial statements and exhibits. While the specific details of the personnel changes or compensation are not provided in this summary, investors should know that such changes can signal shifts in company strategy or performance, potentially impacting future stock value.

Why It Matters

Changes in leadership and executive compensation can signal strategic shifts or performance issues, directly influencing investor confidence and the company's future direction.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership and compensation, which can introduce uncertainty regarding future company strategy and performance, warranting a medium risk level.

Analyst Insight

Investors should monitor subsequent filings or company announcements for specific details regarding the executive changes and compensation arrangements, as these will provide clarity on potential strategic shifts and their impact on the company's future.

Key Numbers

• $2.50 — Par Value per Share (for Common Stock of Stanley Black & Decker, Inc.)

Key Players & Entities

• STANLEY BLACK & DECKER, INC. (company) — the registrant filing the 8-K
• January 24, 2024 (date) — date of the earliest event reported
• January 25, 2024 (date) — date the 8-K was filed
• 001-05224 (dollar_amount) — Commission File Number
• SWK (company) — trading symbol for Common Stock

Forward-Looking Statements

• Stanley Black & Decker will release further details regarding the specific executive changes and compensation arrangements. (Stanley Black & Decker, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $2.50 — ge on which registered Common Stock - $2.50 Par Value per Share SWK New York St
• $1,350,000 — Allan's annual base salary increased to $1,350,000, effective January 1, 2024; (c) Mr. All
• $10 million — ng term incentive award of no less than $10 million in each of fiscal years 2024 and 2025,

Filing Documents

• d750890d8k.htm (8-K) — 27KB
• d750890dex101.htm (EX-10.1) — 16KB
• g750890g0125035739712.jpg (GRAPHIC) — 4KB
• 0001193125-24-014513.txt ( ) — 175KB
• swk-20240124.xsd (EX-101.SCH) — 3KB
• swk-20240124_lab.xml (EX-101.LAB) — 17KB
• swk-20240124_pre.xml (EX-101.PRE) — 11KB
• d750890d8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 24, 2024, Stanley Black & Decker, Inc. (the "Company") and Donald Allan, Jr., the Company's President and Chief Executive Officer, entered into an amendment (the "Amendment") to Mr. Allan's existing employment agreement dated May 31, 2022 with the Company (the "Employment Agreement"). Pursuant to the Amendment, (a) the term of the Employment Agreement was extended to June 30, 2026, unless further extended pursuant to the terms therein (the "Initial Term"); (b) Mr. Allan's annual base salary increased to $1,350,000, effective January 1, 2024; (c) Mr. Allan's target bonus opportunity under the Company's Management Incentive Compensation Plan increased to 155% of his base salary for 2024 (and for subsequent fiscal years as determined by the Company's board of directors (the "Board")); (d) Mr. Allan will be eligible to receive a target long term incentive award of no less than $10 million in each of fiscal years 2024 and 2025, with at least 50% of the grant date value of annual equity awards granted each such year to consist of performance share units and the balance to consist of a mix of stock options and restricted stock units or other instruments determined by the Board in its sole discretion at the time of grant; and (e) in the light of the extension, the lump sum cash component of Mr. Allan's severance benefit at (i) two times the sum of his then-current annual salary plus his annual bonus target amount for the year of termination; or (ii) one times such amount, each as described in the Employment Agreement, were accordingly revised to reflect that payment would be made if a qualifying termination occurs on or prior to June 30, 2025, or, after June 30, 2025 and before the expiration of the Initial Term, respectively. This summary is qualified in its entirety by the Amendment, a copy of which

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Employment Agreement Amendment, dated January 24, 2024, between Stanley Black & Decker, Inc. and Donald Allan, Jr. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES 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. STANLEY BLACK & DECKER, INC. Date: January 24, 2024 By: /s/ Janet M. Link Name: Janet M. Link Title: Senior Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR