Fastenal Co. Elects New Directors, Updates Executive Compensation
Ticker: FAST · Form: 8-K · Filed: Dec 27, 2024
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
Related Tickers: FAST
TL;DR
Fastenal adds 2 directors, updates exec pay. Board shakeup.
AI Summary
On December 23, 2024, Fastenal Co. announced changes to its board of directors and executive compensation. The company elected two new directors, Steven L. Nelson and Michael J. Schrock, to its board. Additionally, the company entered into new employment agreements with certain executive officers, including the Chief Executive Officer, President, and Chief Financial Officer, detailing their compensation arrangements.
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 generally do not indicate significant new risks.
Key Players & Entities
- FASTENAL CO (company) — Registrant
- Steven L. Nelson (person) — Newly Elected Director
- Michael J. Schrock (person) — Newly Elected Director
- December 23, 2024 (date) — Date of Report
FAQ
Who were the new directors elected to Fastenal Co.'s board?
Steven L. Nelson and Michael J. Schrock were elected as new directors to Fastenal Co.'s board.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is December 23, 2024.
What are the main items reported in this Form 8-K?
This Form 8-K reports the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, along with financial statements and exhibits.
What is Fastenal Co.'s state of incorporation?
Fastenal Co. is incorporated in Minnesota.
What is the principal executive office address for Fastenal Co.?
The principal executive offices are located at 2001 Theurer Boulevard, Winona, Minnesota 55987.
Filing Stats: 525 words · 2 min read · ~2 pages · Grade level 13.5 · Accepted 2024-12-27 08:00:32
Filing Documents
- fast-20241223.htm (8-K) — 31KB
- 0000815556-24-000049.txt ( ) — 152KB
- fast-20241223.xsd (EX-101.SCH) — 2KB
- fast-20241223_lab.xml (EX-101.LAB) — 21KB
- fast-20241223_pre.xml (EX-101.PRE) — 12KB
- fast-20241223_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. INDEX TO EXHIBITS Exhibit Number Description of Document 104 The cover page from the Current Report on Form 8-K formatted in 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. Fastenal Company (Registrant) December 27, 2024 By: /s/ HOLDEN LEWIS (Date) Holden Lewis Senior Executive Vice President and Chief Financial Officer