Form 4: Fortive Corp Executive Reports Dividend Accruals on Phantom Shares

Edward Read Simmons, SVP of Strategy at Fortive Corp, reports notional dividend accruals on phantom shares in the Executive Deferred Incentive Program.

Summary

• Edward Read Simmons, SVP Strategy at Fortive Corp, filed a Form 4 on March 29, 2024, reporting changes in beneficial ownership.
• The report details the acquisition of 2.8 phantom shares in the Fortive Stock Fund under the Executive Deferred Incentive Program (EDIP) due to notional dividend accruals.
• The price of the common stock on the date the dividend accruals were credited was $86.02.
• Following the reported transaction, Simmons beneficially owns 3,928.5 derivative securities.
• The notional shares convert on a one-to-one basis into Fortive's common stock.
• Simmons 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 following five years of participation.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not inherently convey positive or negative sentiment. It simply reports a transaction related to executive compensation.

Positives

• The report indicates continued participation in the company's Executive Deferred Incentive Program, aligning executive compensation with company performance.

Future Outlook

The document does not contain any specific forward-looking statements.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading and provide investors with insights into the actions of company executives.

Comparison to Industry Standards

• Executive compensation packages, including deferred incentive programs, are common across publicly traded companies, particularly in the industrial and technology sectors where Fortive operates.
• Companies like Danaher (DHR) and Roper Technologies (ROP), which are peers of Fortive, also utilize similar deferred compensation mechanisms to incentivize their executives.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and alignment of interests.

Key Dates