Form 4: Director Victor Grizzle Reports Changes in Beneficial Ownership of Franklin Electric Co. Inc. Stock
SEC Form 4
Director Victor Grizzle reports a transaction involving stock units converted to cash under the Nonemployee Directors' Deferred Compensation Plan.
Summary
- On May 13, 2024, Director Victor Grizzle reported a transaction related to the Nonemployee Directors' Deferred Compensation Plan.
- Mr. Grizzle elected to receive his deferred compensation in cash, which was related to his 2021 Board of Directors stock award in Franklin Electric Co., Inc. common stock and dividends received on such shares.
- The transaction involved 1,534.17 stock units, which were converted to cash.
- Following the reported transaction, Mr. Grizzle beneficially owns 11,587.82 shares of common stock directly.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a routine transaction related to executive compensation; it doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it involves deferred compensation arrangements for a director.
Key Dates
| Date | Description |
|---|---|
| February 11, 2000 | Date of original Nonemployee Directors' Deferred Compensation Plan approval by the Board of Directors |
| May 6, 2020 | Date of amended and restated Nonemployee Directors' Deferred Compensation Plan |
| May 13, 2024 | Date of transaction: conversion of stock units to cash |
| May 15, 2024 | Date of signature on the Form 4 filing |
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