Snap-on Inc. Reports Officer Changes & Compensation Arrangements

Ticker: SNA · Form: 8-K · Filed: 2024-02-22T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, compensation, 8-K

TL;DR

**Snap-on just dropped an 8-K about changes in their executive team and how they're getting paid, effective February 15th!**

AI Summary

Snap-on Inc. filed an 8-K on February 22, 2024, reporting an event that occurred on February 15, 2024. The filing pertains to the departure or election of directors or certain officers, and compensatory arrangements for certain officers. The company, based in Kenosha, Wisconsin, operates under the SIC code 3420 for Cutlery, Handtools & General Hardware.

Why It Matters

This filing signals potential shifts in Snap-on Inc.'s leadership and executive compensation, which could influence future strategic decisions and financial performance.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure about executive changes and compensation, not indicating any immediate negative financial impact.

Key Players & Entities

FAQ

What is the purpose of this 8-K filing by Snap-on Inc.?

This 8-K filing by Snap-on Inc. is to report the departure or election of directors or certain officers, and compensatory arrangements of certain officers, as per Item 5.02 of Form 8-K.

When was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 15, 2024.

What is Snap-on Inc.'s primary business according to its SIC code?

Snap-on Inc.'s primary business, according to its Standard Industrial Classification (SIC) code 3420, is Cutlery, Handtools & General Hardware.

Where is Snap-on Inc.'s principal executive office located?

Snap-on Inc.'s principal executive office is located at 2801 80th Street, Kenosha, Wisconsin 53143-5656.

What is the filing date of this 8-K?

The filing date of this 8-K is February 22, 2024.

From the Filing

0000091440-24-000009.txt : 20240222 0000091440-24-000009.hdr.sgml : 20240222 20240222170052 ACCESSION NUMBER: 0000091440-24-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240215 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240222 DATE AS OF CHANGE: 20240222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Snap-on Inc CENTRAL INDEX KEY: 0000091440 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 390622040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07724 FILM NUMBER: 24665866 BUSINESS ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 BUSINESS PHONE: 2626565200 MAIL ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 FORMER COMPANY: FORMER CONFORMED NAME: SNAP-ON Inc DATE OF NAME CHANGE: 20080918 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON INC DATE OF NAME CHANGE: 19940519 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON TOOLS CORP DATE OF NAME CHANGE: 19920703 8-K 1 sna-20240215.htm 8-K sna-20240215 0000091440 false 0000091440 2024-02-15 2024-02-15 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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):          February 15, 2024 Snap-on Inc orporated (Exact name of registrant as specified in its charter) Delaware   001-07724 39-0622040 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 2801 80th Street, Kenosha, Wisconsin 53143-5656 (Address of Principal Executive Offices, and Zip Code) ( 262 ) 656-5200 (Registrant’s telephone number, including area code)   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 communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐   Pre-commencement communication 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, $1.00 par value SNA 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 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §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 February 15, 2024, Anup R. Banerjee, Senior Vice President – Human Resources and Chief Development Officer of Snap‑on Incorporated (“Snap-on,” the “Company” or “we”), notified the Company of his intent to retire effective March 31, 2024. Over his 21 years with Snap-on, Mr. Banerjee has made continuous and significant contributions to our corporation. He has our congratulat

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