Form 4: Fortive Corp Executive Peter C. Underwood Reports Changes in Beneficial Ownership

Peter C. Underwood, SVP General Counsel of Fortive Corp, reports changes in beneficial ownership due to dividend accruals on phantom shares in the Executive Deferred Incentive Program.

Summary

• Peter C. Underwood, SVP General Counsel of Fortive Corp, filed a Form 4 to report changes in beneficial ownership.
• The changes are due to notional dividend accruals on phantom shares in the Fortive stock fund under the Executive Deferred Incentive Program (EDIP).
• On March 28, 2024, 6.9 phantom shares were acquired at a price of $86.02 per share.
• Following the transaction, Underwood directly owns 8,261 derivative securities.
• The notional shares convert on a one-to-one basis into Fortive's common stock.
• Vesting in the Issuer's contributions to the EDIP Stock Fund occurs 100% upon death or retirement (after 5 years of service and reaching age 55), or one-tenth per year of participation following five years of participation.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey any positive or negative sentiment about the company's performance or prospects.

Future Outlook

The document does not contain specific forward-looking statements regarding Fortive's future performance. It primarily reports changes in beneficial ownership related to executive compensation.

Industry Context

This filing is a routine disclosure related to executive compensation and is common among publicly traded companies. It provides transparency into the equity-based compensation programs offered to executives.

Key Dates