Form 4: Franklin Electric Co. Director David M. Wathen Reports Stock Unit Acquisition
SEC Form 4 Filing
Director David M. Wathen reports acquisition of stock units representing deferred compensation dividends in Franklin Electric Co., Inc.
Summary
- David M. Wathen, a director at Franklin Electric Co., Inc., reported a transaction on May 16, 2024.
- He acquired 231.59 stock units representing dividends on deferred shares.
- These stock units are part of the Nonemployee Directors' Deferred Compensation Plan.
- Mr. Wathen's total holdings after the transaction amount to 93,201.58 shares.
- The price per share was $100.36.
- The shares are held directly.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and continued investment in the company.
Positives
- The acquisition of stock units reflects continued participation in the company's deferred compensation plan.
Future Outlook
At distribution, Mr. Wathen may elect to receive his deferred compensation either in shares of Franklin common stock or in cash.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it pertains to director compensation.
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 16, 2024 | Date of transaction: Mr. Wathen credited with 231.59 Stock Units for dividends |
| May 20, 2024 | Date of Form 4 filing |
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