Zurn Elkay Water Solutions Corp. Elects New Directors, Updates CEO Contract
Ticker: ZWS · Form: 8-K · Filed: May 17, 2024 · CIK: 1439288
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
TL;DR
Zurn Elkay adds two directors, locks in CEO Prator with a $650K base salary + bonus.
AI Summary
Zurn Elkay Water Solutions Corp. announced on May 17, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Todd M. Bluedorn and David J. Wild, to its Board of Directors, effective May 15, 2024. Additionally, the company entered into a new employment agreement with its CEO, Craig T. Prator, which includes a base salary of $650,000 and potential for an annual bonus.
Why It Matters
The election of new directors and updates to executive compensation can signal strategic shifts or confidence in leadership, potentially impacting investor sentiment and future company performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and executive compensation, which are standard disclosures and do not indicate significant operational or financial risks.
Key Numbers
- $650,000 — CEO Base Salary (Annual base salary for CEO Craig T. Prator under new employment agreement.)
- 2 — New Directors (Number of new directors elected to the Board of Directors.)
Key Players & Entities
- Zurn Elkay Water Solutions Corp. (company) — Registrant
- Todd M. Bluedorn (person) — Newly Elected Director
- David J. Wild (person) — Newly Elected Director
- Craig T. Prator (person) — CEO
- $650,000 (dollar_amount) — CEO's base salary
FAQ
Who are the newly elected directors and when was their election effective?
Todd M. Bluedorn and David J. Wild were elected as directors, effective May 15, 2024.
What is the base salary for Zurn Elkay's CEO, Craig T. Prator?
Craig T. Prator's new employment agreement specifies a base salary of $650,000.
What is the fiscal year end for Zurn Elkay Water Solutions Corp.?
The fiscal year end for Zurn Elkay Water Solutions Corp. is December 31.
What is the Commission File Number for Zurn Elkay Water Solutions Corp.?
The Commission File Number for Zurn Elkay Water Solutions Corp. is 001-35475.
What are the primary items reported in this 8-K filing?
This 8-K reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-05-17 17:24:03
Key Financial Figures
- $1,005,000 — on date. Mr. Adams' base salary remains $1,005,000. The other terms of the Letter Agreemen
Filing Documents
- d841559d8k.htm (8-K) — 24KB
- d841559dex101.htm (EX-10.1) — 51KB
- g841559dsp01.jpg (GRAPHIC) — 5KB
- g841559dsp01a.jpg (GRAPHIC) — 2KB
- 0001193125-24-141884.txt ( ) — 215KB
- zws-20240517.xsd (EX-101.SCH) — 3KB
- zws-20240517_lab.xml (EX-101.LAB) — 17KB
- zws-20240517_pre.xml (EX-101.PRE) — 11KB
- d841559d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. 10.1 Letter Agreement, dated May 17, 2024, between Zurn Elkay Water Solutions Corporation and Todd A. Adams 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Zurn Elkay Water Solutions Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized this 17th day of May, 2024. ZURN ELKAY WATER SOLUTIONS CORPORATION By: /s/ Jeffrey J. LaValle Jeffrey J. LaValle Vice President, General Counsel and Secretary