ITT Inc. Reports Material Agreement, New Debt, Officer Compensation

TL;DR

**ITT Inc. just took on new debt and made big deals, watch for financial impacts.**

AI Summary

ITT Inc. filed an 8-K on January 19, 2024, reporting several key events that occurred on January 12, 2024. These include entering into a material definitive agreement, creating a direct financial obligation, and making compensatory arrangements for certain officers. This matters to investors because these actions could impact the company's financial health, future obligations, and executive compensation structure, potentially affecting profitability and shareholder value.

Why It Matters

These events signal changes in ITT Inc.'s financial commitments and executive incentives, which can influence the company's operational strategy and long-term performance.

Risk Assessment

Risk Level: medium — The filing indicates new financial obligations and material agreements, which inherently carry a medium level of risk due to potential future liabilities or changes in operational focus.

Analyst Insight

Investors should investigate the specifics of the 'Material Definitive Agreement' and the 'Direct Financial Obligation' once more details are released to understand their potential impact on ITT Inc.'s balance sheet and future earnings. Additionally, understanding the 'Compensatory Arrangements' for officers could shed light on executive incentives.

Key Players & Entities

• ITT INC. (company) — the registrant filing the 8-K
• January 12, 2024 (date) — date of the earliest event reported
• January 19, 2024 (date) — date the 8-K was filed
• 0000216228 (company) — Central Index Key (CIK) for ITT INC.
• 001-05672 (company) — Commission File Number for ITT INC.

FAQ

From the Filing

0000216228-24-000011.txt : 20240119 0000216228-24-000011.hdr.sgml : 20240119 20240119163602 ACCESSION NUMBER: 0000216228-24-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 22 CONFORMED PERIOD OF REPORT: 20240112 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240119 DATE AS OF CHANGE: 20240119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ITT INC. CENTRAL INDEX KEY: 0000216228 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] ORGANIZATION NAME: 06 Technology IRS NUMBER: 811197930 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05672 FILM NUMBER: 24546079 BUSINESS ADDRESS: STREET 1: 100 WASHINGTON BLVD STREET 2: 6TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 914.641.2000 MAIL ADDRESS: STREET 1: 100 WASHINGTON BLVD STREET 2: 6TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 FORMER COMPANY: FORMER CONFORMED NAME: ITT Inc. DATE OF NAME CHANGE: 20160517 FORMER COMPANY: FORMER CONFORMED NAME: ITT Corp DATE OF NAME CHANGE: 20100308 FORMER COMPANY: FORMER CONFORMED NAME: ITT CORP DATE OF NAME CHANGE: 20060705 8-K 1 itt-20240112.htm 8-K itt-20240112 false 0000216228 Indiana 0000216228 2024-01-12 2024-01-12   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: January 12, 2024 (Date of earliest event reported)   ITT INC. (Exact name of registrant as specified in its charter)   Indiana 001-05672 81-1197930 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 100 Washington Boulevard 6th Floor Stamford , CT 06902 (Principal Executive Office) Telephone Number: ( 914 )  641-2000 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)) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $1 per share ITT New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 under the Securities Exchange Act of 1934 (17 CFR 240.12b-2).                                                 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 1.01 Entry into a Material Definitiv