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 participation in the Executive Deferred Incentive Program.

Summary

• Peter C. Underwood, a Senior Vice President and General Counsel at Fortive Corp, filed a Form 4 to report changes in his beneficial ownership of the company's stock.
• The transaction involves the acquisition of notional shares through Fortive's Executive Deferred Incentive Program (EDIP).
• On March 19, 2025, Underwood acquired 954.419 notional shares of Fortive common stock through the EDIP Stock Fund at a price of $75.25 per share.
• Following this transaction, Underwood beneficially owns 9,241.491 shares directly.
• The notional shares in the EDIP Stock Fund convert to common stock on a one-to-one basis.
• Underwood immediately vests in 100% of his voluntary contributions to the EDIP Stock Fund, with company contributions vesting over time based on service and age or upon death.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects routine executive compensation practices and aligns management interests with shareholders.

Positives

• Executive participation in the EDIP indicates confidence in the company's future performance.
• Immediate vesting of voluntary contributions provides an incentive for executives to invest in the company's stock.

Future Outlook

The document does not contain specific forward-looking statements, but participation in the EDIP suggests an expectation of future value from Fortive stock.

Industry Context

Executive compensation and stock ownership are common practices in publicly traded companies to align management interests with shareholder value. Deferred incentive programs like the EDIP are used to incentivize long-term performance.

Comparison to Industry Standards

• Executive deferred compensation programs are a common practice among publicly traded companies, particularly in the technology and industrial sectors where Fortive operates.
• Companies like Danaher (DHR), a former parent company of Fortive, also utilize similar deferred compensation plans to incentivize their executives.
• The vesting schedules and contribution structures of these plans can vary, but the underlying goal is to align executive compensation with long-term shareholder value creation.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning executive compensation with company performance.

Key Dates

Keywords

Form 4, beneficial ownership, Fortive Corp, Executive Deferred Incentive Program, EDIP, Peter C. Underwood, stock, notional shares