Watts Water Technologies Announces Board and Executive Changes
Ticker: WTS · Form: 8-K · Filed: Oct 30, 2024 · CIK: 795403
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: WTS
TL;DR
Watts Water Tech shakes up board, updates exec pay. Big changes coming?
AI Summary
On October 27, 2024, Watts Water Technologies, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key executives. This report also contains financial statements and exhibits relevant to the company's operations.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategic direction or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can introduce uncertainty and signal potential strategic shifts, which may carry moderate risk.
Key Players & Entities
- Watts Water Technologies, Inc. (company) — Registrant
- October 27, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-11499 (commission_file_number) — SEC File Number
- 04-2916536 (irs_number) — IRS Employer Identification No.
- 815 Chestnut Stree (address) — Business Address
FAQ
Who has departed from Watts Water Technologies' board or executive team?
The filing indicates the departure of certain officers, though specific names are not detailed in the provided text snippet.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on October 27, 2024.
What are the main items covered in this 8-K filing?
The filing covers Results of Operations and Financial Condition, Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers, and Financial Statements and Exhibits.
In which state is Watts Water Technologies, Inc. incorporated?
Watts Water Technologies, Inc. is incorporated in Delaware.
What is the SEC file number for Watts Water Technologies, Inc.?
The SEC file number for Watts Water Technologies, Inc. is 001-11499.
Filing Stats: 636 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-10-30 16:31:41
Key Financial Figures
- $0.10 — stered Class A Common Stock, par value $0.10 per share WTS New York Stock Exchan
Filing Documents
- wts-20241027x8k.htm (8-K) — 42KB
- wts-20241027xex99d1.htm (EX-99.1) — 848KB
- wts-20241027xex99d2.htm (EX-99.2) — 9KB
- 0001558370-24-013968.txt ( ) — 1079KB
- wts-20241027.xsd (EX-101.SCH) — 3KB
- wts-20241027_lab.xml (EX-101.LAB) — 18KB
- wts-20241027_pre.xml (EX-101.PRE) — 13KB
- wts-20241027x8k_htm.xml (XML) — 5KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On October 30, 2024, Watts Water Technologies, Inc. (the "Registrant") announced its financial results for the fiscal quarter ended September 29, 2024. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information in Item 2.02 of this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 27, 2024, Shashank Patel, the Registrant's Chief Financial Officer, provided notice of his intention to retire from the Registrant effective as of March 15, 2025. The Registrant has initiated a search for the Registrant's next Chief Financial Officer, which will include both internal and external candidates. Mr. Patel will continue in his role as Chief Financial Officer until a successor is named and will assist with the transition of his responsibilities to his successor. A copy of the Registrant's press release announcing Mr. Patel's retirement is being filed as Exhibit 99.2 to this report.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 99.1 Press Release dated October 30, 2024. 99.2 Press Release dated October 30, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. Date: October 30, 2024 WATTS WATER TECHNOLOGIES, INC. By: /s/ Kenneth R. Lepage Kenneth R. Lepage General Counsel, Chief Sustainability Officer, Chief Compliance Officer & Secretary