Stanley Black & Decker Appoints New CFO
Ticker: SWK · Form: 8-K · Filed: Jun 12, 2024 · CIK: 93556
| Field | Detail |
|---|---|
| Company | Stanley Black & Decker, Inc. (SWK) |
| Form Type | 8-K |
| Filed Date | Jun 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2.50, $85,000, $750,000, $550,000, $2,250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: SWK
TL;DR
New CFO Corbin Smith starts June 10th, gets $525k base + big stock award.
AI Summary
Stanley Black & Decker, Inc. announced on June 6, 2024, the appointment of Corbin J. Smith as the new Senior Vice President and Chief Financial Officer, effective June 10, 2024. Smith will receive an annual base salary of $525,000 and will be eligible for an annual cash incentive award with a target of 100% of his base salary. He will also receive a restricted stock unit award valued at $1,500,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $525,000 — CFO Base Salary (Annual compensation for Corbin J. Smith.)
- 100% — CFO Incentive Target (Potential cash incentive based on performance.)
- $1,500,000 — CFO Stock Award (Value of initial equity grant for Corbin J. Smith.)
Key Players & Entities
- Stanley Black & Decker, Inc. (company) — Registrant
- Corbin J. Smith (person) — Newly appointed Senior Vice President and Chief Financial Officer
- June 6, 2024 (date) — Date of Report
- June 10, 2024 (date) — Effective date of appointment
- $525,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target percentage for annual cash incentive award
- $1,500,000 (dollar_amount) — Value of restricted stock unit award for new CFO
FAQ
Who has been appointed as the new Senior Vice President and Chief Financial Officer?
Corbin J. Smith has been appointed as the new Senior Vice President and Chief Financial Officer.
When is Corbin J. Smith's appointment effective?
Corbin J. Smith's appointment is effective June 10, 2024.
What is Corbin J. Smith's annual base salary?
Corbin J. Smith's annual base salary is $525,000.
What is the target for Corbin J. Smith's annual cash incentive award?
The target for Corbin J. Smith's annual cash incentive award is 100% of his base salary.
What is the value of the restricted stock unit award granted to Corbin J. Smith?
The restricted stock unit award granted to Corbin J. Smith is valued at $1,500,000.
Filing Stats: 486 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-12 16:58:00
Key Financial Figures
- $2.50 — ge on which registered Common Stock - $2.50 Par Value per Share SWK New York St
- $85,000 — bilities: (i) a base salary increase of $85,000 to $750,000, (ii) a target short-term i
- $750,000 — i) a base salary increase of $85,000 to $750,000, (ii) a target short-term incentive awa
- $550,000 — d from 85% of base salary), and (iii) a $550,000 increase in the anticipated value of hi
- $2,250,000 — t long-term incentive award for 2025 to $2,250,000. SIGNATURES Pursuant to the require
Filing Documents
- d841827d8k.htm (8-K) — 23KB
- g841827g0608115729838.jpg (GRAPHIC) — 4KB
- 0001193125-24-160024.txt ( ) — 149KB
- swk-20240606.xsd (EX-101.SCH) — 3KB
- swk-20240606_lab.xml (EX-101.LAB) — 17KB
- swk-20240606_pre.xml (EX-101.PRE) — 11KB
- d841827d8k_htm.xml (XML) — 3KB
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: June 12, 2024 By: /s/ Janet M. Link Name: Janet M. Link Title: Senior Vice President, General Counsel and Secretary