ITT Inc. Files Definitive Proxy Statement for 2024 Annual Meeting

TL;DR

ITT Proxy filed: vote directors & auditors on 5/15. Exec comp details inside.

AI Summary

ITT Inc. filed its definitive proxy statement (DEF 14A) on April 2, 2024, for its annual meeting of stockholders scheduled for May 15, 2024. The filing outlines the agenda for the meeting, including the election of directors and the ratification of PricewaterhouseCoopers LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2024. It also details executive compensation and other corporate governance matters.

Why It Matters

This filing provides shareholders with crucial information regarding company leadership, executive pay, and voting matters, enabling them to make informed decisions at the upcoming annual meeting.

Risk Assessment

Risk Level: low — This is a routine annual proxy filing providing information to shareholders and does not indicate any immediate financial or operational risks.

Key Players & Entities

• ITT Inc. (company) — Registrant
• PricewaterhouseCoopers LLP (company) — Independent Registered Public Accounting Firm
• April 2, 2024 (date) — Filing Date
• May 15, 2024 (date) — Annual Meeting Date
• December 31, 2024 (date) — Fiscal Year End

FAQ

From the Filing

0001104659-24-042254.txt : 20240402 0001104659-24-042254.hdr.sgml : 20240402 20240402081543 ACCESSION NUMBER: 0001104659-24-042254 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 61 CONFORMED PERIOD OF REPORT: 20240515 FILED AS OF DATE: 20240402 DATE AS OF CHANGE: 20240402 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: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-05672 FILM NUMBER: 24812289 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 DEF 14A 1 tm2319075-d3_def14a.htm FORM DEF 14A tm2319075-2_nonfiling - none - 29.2813372s TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 ​ ☒   Filed by the Registrant ​ ​ ☐   Filed by a Party other than the Registrant ​ Check the appropriate box: ☐ Preliminary Proxy Statement ​ ☐ CONFIDENTIAL, FOR THE USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2)) ​ ☒ Definitive Proxy Statement ​ ☐ Definitive Additional Materials ​ ☐ Soliciting Material Pursuant to Rule 14a-12 ​ ITT Inc. ​ (Name of Registrant as Specified In Its Charter)   ​ (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): ☒   No fee required. ☐   Fee paid previously with preliminary materials. ☐   Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. TABLE OF CONTENTS 2024 Notice of Annual Meeting & Proxy Statement ITT Inc. TABLE OF CONTENTS ITT Inc. 100 Washington Boulevard 6th Floor Stamford, CT 06902 ​ DEAR FELLOW SHAREHOLDER ​ TIMOTHY H. POWERS CHAIRMAN OF THE BOARD April 2, 2024 Dear Fellow Shareholder, On behalf of the Board of Directors (the “Board”), thank you for your continued partnership and investment in ITT. It has been my pleasure to serve as Chairman of the Board of Directors of ITT since March 2023. After several challenging years that impacted ITT’s people and its businesses, my fellow Board members and ITT leadership are extremely proud of how all ITTers across the world have worked to deliver a strong performance and helped our customers and partners to succeed. In 2023, our focus on continuous improvement drove these impressive results. Below, you will find important details about how ITT’s Board and management team have been working on your behalf. FISCAL 2023 ACCOMPLISHMENTS ITT delivered a strong 2023 financial performance, highlighted by 8% organic revenue growth, 17% adjusted EPS growth and a more than $250 million improvement in free cash flow versus the prior year. The Company also built a record $1.2 billion backlog, providing good visibility into future growth and value creation. Our strong performance was reflected in the Company’s share performance: for the year, our total shareholder return was up 49%, an outperformance of the S&P 400 Capital Goods Index and the S&P 500 by over 1,100 basis points and 2,200 basis points, respectively, during a year in which we also outperformed the majority of our peer group and relevant market indices. STRA