Franklin Electric Files 8-K: Director/Officer Changes & Financials
Ticker: FELE · Form: 8-K · Filed: May 14, 2024 · CIK: 38725
Sentiment: neutral
Topics: corporate-governance, officer-changes, financials
Related Tickers: FELE
TL;DR
FELE board/officer changes, comp arrangements, and financials filed 5/14.
AI Summary
Franklin Electric Co., Inc. filed an 8-K on May 14, 2024, reporting changes in its board of directors and certain officers, along with updates to compensatory arrangements. The filing also includes financial statements and exhibits, and a Regulation FD disclosure.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance and financial information, not indicating immediate operational or financial distress.
Key Players & Entities
- FRANKLIN ELECTRIC CO., INC. (company) — Registrant
- May 14, 2024 (date) — Date of earliest event reported
- Indiana (location) — State of incorporation
- 0-362 (other) — Commission File Number
- 35-0827455 (other) — IRS employer identification no.
- 9255 Coverdale Road Fort Wayne, Indiana 46809 (address) — Principal executive offices
- 260-824-2900 (phone) — Registrant's telephone number
FAQ
What specific changes were made to the board of directors or certain officers?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' but does not detail the specific individuals or roles affected within this 8-K summary.
What is the nature of the compensatory arrangements mentioned?
The filing lists 'Compensatory Arrangements of Certain Officers' as an item of disclosure, but the specific details of these arrangements are not provided in the summary.
What is the significance of the Regulation FD Disclosure?
A Regulation FD Disclosure ensures that material non-public information is broadly disseminated to the public, preventing selective disclosure to certain investors or analysts.
What types of financial statements and exhibits are included?
The filing states 'Financial Statements and Exhibits' are included, but the specific content of these documents is not detailed in the provided summary.
When was this report filed and what is the earliest event date reported?
This Form 8-K was filed on May 14, 2024, and the earliest event reported is also May 14, 2024.
Filing Stats: 874 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-05-14 16:56:11
Key Financial Figures
- $0.10 — ction 12(b) of the Act: Common Stock, $0.10 par value FELE NASDAQ Global Select Mar
- $900,000 — i will receive an annual base salary of $900,000 and an annual target bonus opportunity
- $250,000 — ki will receive: (i) a signing bonus of $250,000, and (ii) an equity grant award with an
- $5,250,000 — with an estimated target total value of $5,250,000, consisting of fifty percent (50%) perf
Filing Documents
- fele-20240514.htm (8-K) — 31KB
- a202405148kexhibit991.htm (EX-99.1) — 8KB
- 0000038725-24-000101.txt ( ) — 169KB
- fele-20240514.xsd (EX-101.SCH) — 3KB
- fele-20240514_lab.xml (EX-101.LAB) — 22KB
- fele-20240514_pre.xml (EX-101.PRE) — 13KB
- fele-20240514_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure A copy of the press release announcing this leadership transition is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits: Exhibit Number Description 99.1 Press release - "Franklin Electric Appoints Joe Ruzynski as CEO; Gregg Sengstack Remains Executive Chairperson" 101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL SIGNATURE 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. FRANKLIN ELECTRIC CO., INC. (Registrant) Date: May 14, 2024 By /s/ Jeffery L. Taylor Jeffery L. Taylor Vice President, Chief Financial Officer (Principal Financial and Accounting Officer)