Form 4: Fortive Corp Executive Olumide Soroye Reports Changes in Beneficial Ownership

Olumide Soroye, President & CEO of IOS at Fortive Corp, reports acquisition of notional shares through the Executive Deferred Incentive Program.

Summary

• On March 13, 2024, Olumide Soroye, President & CEO of IOS at Fortive Corp, reported changes in beneficial ownership.
• Soroye acquired 1,316.417 notional shares of Fortive Corp common stock through the Executive Deferred Incentive Program (EDIP) at a price of $85.46 per share.
• These notional shares are held in the Fortive Stock Fund and convert on a one-to-one basis to common stock.
• Following the transaction, Soroye directly owns 5,423.475 notional shares in the EDIP Stock Fund.
• Soroye immediately vests in 100% of each voluntary contribution to the EDIP Stock Fund.
• Issuer contributions vest 100% upon death or retirement (after 5 years of service and reaching age 55), or one-tenth per year of participation after five years of participation.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transaction reflects standard executive compensation practices and suggests confidence from the executive in the company's stock.

Positives

• The acquisition of shares by a high-ranking executive can be seen as a positive signal, indicating confidence in the company's future performance.

Future Outlook

The document does not contain specific forward-looking statements, but it details ongoing participation in the Executive Deferred Incentive Program.

Industry Context

Executive compensation and stock ownership are common practices in publicly traded companies to align management's interests with those of shareholders. The EDIP is a tool used to attract and retain key executives.

Comparison to Industry Standards

• Executive Deferred Incentive Programs are a common form of compensation in large, publicly traded companies like Fortive.
• Companies such as Danaher (DHR), a competitor of Fortive, also utilize similar deferred compensation plans for their executives.
• The vesting schedules and terms of these programs are generally aligned with industry best practices to incentivize long-term performance and retention.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with shareholder value.

Key Dates