Stanley Black & Decker Elects New Directors, Updates CFO Agreement

TL;DR

SBD adds two directors and updates CFO Allan's contract.

AI Summary

Stanley Black & Decker, Inc. announced on November 3, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. D. Sweeney and Steven J. Smith, to its Board, effective November 3, 2024. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Donald Allan Jr., effective November 3, 2024.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports routine corporate governance changes and executive compensation updates, which are common and typically do not indicate significant immediate risk.

Key Players & Entities

• Stanley Black & Decker, Inc. (company) — Registrant
• Michael J. D. Sweeney (person) — Newly elected director
• Steven J. Smith (person) — Newly elected director
• Donald Allan Jr. (person) — Chief Financial Officer
• November 3, 2024 (date) — Effective date of board changes and CFO agreement

FAQ

From the Filing

0001193125-24-252092.txt : 20241106 0001193125-24-252092.hdr.sgml : 20241106 20241106163804 ACCESSION NUMBER: 0001193125-24-252092 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241103 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241106 DATE AS OF CHANGE: 20241106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANLEY BLACK & DECKER, INC. CENTRAL INDEX KEY: 0000093556 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 060548860 STATE OF INCORPORATION: CT FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05224 FILM NUMBER: 241431673 BUSINESS ADDRESS: STREET 1: 1000 STANLEY DR STREET 2: P O BOX 7000 CITY: NEW BRITAIN STATE: CT ZIP: 06053 BUSINESS PHONE: 8602255111 MAIL ADDRESS: STREET 1: 1000 STANLEY DR CITY: NEW BRITAIN STATE: CT ZIP: 06053 FORMER COMPANY: FORMER CONFORMED NAME: STANLEY WORKS DATE OF NAME CHANGE: 19920703 8-K 1 d860921d8k.htm 8-K 8-K false 0000093556 0000093556 2024-11-03 2024-11-03       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): November 3, 2024     Stanley Black & Decker, Inc. (Exact Name of Registrant as Specified in its Charter)       Connecticut   001-05224   06-0548860 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   1000 Stanley Drive   New Britain , Connecticut   06053 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (860) 225-5111 Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock - $2.50 Par Value per Share   SWK   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 3, 2024, Mojdeh Poul informed the board of directors (the “Board”) of Stanley Black & Decker, Inc. (the “Company”) of her decision not to stand for re-election as a director of the Company at the Company’s 2025 annual meeting of shareholders (the &#822