Snap-on Inc. Files Definitive Proxy Statement

Ticker: SNA · Form: DEF 14A · Filed: 2024-03-12T00:00:00.000Z

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Executive Compensation, Stock Awards, Snap-on Inc.

TL;DR

<b>Snap-on Inc. has filed its Definitive Proxy Statement for the fiscal year ending December 30, 2023, detailing executive compensation and financial data.</b>

AI Summary

Snap-on Inc (SNA) filed a Proxy Statement (DEF 14A) with the SEC on March 12, 2024. Snap-on Inc. filed a Definitive Proxy Statement (DEF 14A) on March 12, 2024. The filing covers the fiscal year ending December 30, 2023. The company's principal executive offices are located at 2801 80th Street, Kenosha, WI 53143. Snap-on Inc. was incorporated in Delaware. The filing includes data related to executive compensation, stock awards, and pension service costs for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking Snap-on Inc, this filing contains several important signals. This DEF 14A filing provides shareholders with crucial information regarding executive compensation, stock awards, and pension costs, enabling informed voting decisions at the upcoming shareholder meeting. The detailed financial data within the proxy statement, including changes in fair value of stock awards and pension service costs, offers insights into the company's compensation structure and potential financial liabilities.

Risk Assessment

Risk Level: low — Snap-on Inc shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant new risks.

Analyst Insight

Review the executive compensation details and stock award valuations to understand management's incentives and potential dilution effects.

Key Numbers

2024-03-12 — Filing Date (Date the DEF 14A was filed)
2023-12-30 — Fiscal Year End (End date of the reporting fiscal year)
2022-12-31 — Prior Fiscal Year End (End date of the previous fiscal year)
2021-01-01 — Prior Fiscal Year End (End date of a prior fiscal year)

Key Players & Entities

Snap-on Inc. (company) — Registrant and filer of the DEF 14A
Securities Exchange Act of 1934 (regulator) — The act under which the proxy statement is filed
2801 80th Street, Kenosha, WI 53143 (company) — Business and mailing address of Snap-on Inc.
Delaware (company) — State of incorporation for Snap-on Inc.

FAQ

When did Snap-on Inc file this DEF 14A?

Snap-on Inc filed this Proxy Statement (DEF 14A) with the SEC on March 12, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Snap-on Inc (SNA).

Where can I read the original DEF 14A filing from Snap-on Inc?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Snap-on Inc.

What are the key takeaways from Snap-on Inc's DEF 14A?

Snap-on Inc filed this DEF 14A on March 12, 2024. Key takeaways: Snap-on Inc. filed a Definitive Proxy Statement (DEF 14A) on March 12, 2024.. The filing covers the fiscal year ending December 30, 2023.. The company's principal executive offices are located at 2801 80th Street, Kenosha, WI 53143..

Is Snap-on Inc a risky investment based on this filing?

Based on this DEF 14A, Snap-on Inc presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant new risks.

What should investors do after reading Snap-on Inc's DEF 14A?

Review the executive compensation details and stock award valuations to understand management's incentives and potential dilution effects. The overall sentiment from this filing is neutral.

How does Snap-on Inc compare to its industry peers?

Snap-on Inc. operates in the hand tools, equipment, and related services industry, serving professionals in the automotive, aerospace, and other industrial markets.

Are there regulatory concerns for Snap-on Inc?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

Industry Context

Snap-on Inc. operates in the hand tools, equipment, and related services industry, serving professionals in the automotive, aerospace, and other industrial markets.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

Analyze the compensation packages for named executive officers.
Review the details of stock and option awards granted.
Examine the pension service costs and changes in fair value of awards.

Key Dates

2024-03-12: Filing of DEF 14A — Provides detailed information to shareholders regarding the company's operations and executive compensation for the fiscal year 2023.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard annual disclosure for proxy solicitations, indicating no significant changes from previous routine filings of this nature.

From the Filing

0001193125-24-065013.txt : 20240312 0001193125-24-065013.hdr.sgml : 20240312 20240311174546 ACCESSION NUMBER: 0001193125-24-065013 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 47 CONFORMED PERIOD OF REPORT: 20240425 FILED AS OF DATE: 20240312 DATE AS OF CHANGE: 20240311 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: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-07724 FILM NUMBER: 24739413 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 DEF 14A 1 d590659ddef14a.htm DEF 14A DEF 14A Table of Contents DEF 14A false 0000091440 0000091440 2023-01-01 2023-12-30 0000091440 2022-01-02 2022-12-31 0000091440 2021-01-03 2022-01-01 0000091440 2019-12-29 2021-01-02 0000091440 1 2019-12-29 2021-01-02 0000091440 1 2021-01-03 2022-01-01 0000091440 1 2022-01-02 2022-12-31 0000091440 1 2023-01-01 2023-12-30 0000091440 sna:PensionServiceCostInTheFiscalYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearOptionsThatVestedInTheFiscalYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearOptionsThatVestedInTheFiscalYearMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearOptionsThatAreUnvestedAndOutstandingMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearOptionsThatAreUnvestedAndOutstandingMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:YearEndValueOfOptionsGrantedInFiscalYearThatAreUnvestedAndOutstandingMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:YearEndValueOfAwardsGrantedInTheFiscalYearThatAreUnvestedAndOutstandingMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:YearEndValueOfAwardsGrantedInTheFiscalYearThatAreUnvestedAndOutstandingMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInPensionValueInSctMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInPensionValueInSctMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ValueOfStockAwardsReportedInSctMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ValueOfStockAwardsReportedInSctMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ValueOfOptionAwardsReportedInSctMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ValueOfOptionAwardsReportedInSctMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearAwardsThatAreUnvestedAndOutstandingMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:YearEndValueOfOptionsGrantedInFiscalYearThatAreUnvestedAndOutstandingMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearAwardsThatVestedInTheFiscalYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearAwardsThatVestedInTheFiscalYearMember ecd:PeoMember 2023-01-01 2023-12-30 0000091440 sna:ChangeInFairValueOfPriorYearAwardsThatAreUnvestedAndOutstandingMember ecd:NonPeoNeoMember 2023-01-01 2023-12-30 0000091440 2 2023-01-01 2023-12-30 0000091440 3 2023-01-01 2023-12-30 0000091440 4 2023-01-01 2023-12-30 iso4217:USD sna:pure iso4217:USD xbrli:shares   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 14A INFORMATION   Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   )   Filed by the Registran