Form 4: Franklin Electric Co. Inc. Director David M. Wathen Reports Stock Unit Acquisition
SEC Filing Form 4
Director David M. Wathen reports acquisition of stock units representing deferred compensation in Franklin Electric Co. Inc. common stock.
Summary
- On February 21, 2025, David M. Wathen, a director of Franklin Electric Co. Inc., filed a Form 4 with the SEC.
- The filing reports a transaction on February 20, 2025, where Mr. Wathen acquired 234.14 stock units.
- These stock units represent dividends that would have been paid on deferred shares related to his compensation as a director.
- Mr. Wathen elected to receive his director's retainer, stock award, and meeting fees in Franklin Electric Co. Inc. common stock, with issuance of shares deferred until he leaves the Board.
- At distribution, Mr. Wathen can choose to receive his deferred compensation in shares or cash.
- Following the reported transaction, Mr. Wathen beneficially owns 93,888.65 shares of Franklin Electric Co. Inc. common stock directly.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to director compensation, and does not contain information that would significantly impact investor sentiment positively or negatively.
Positives
- The director's continued holding of a significant number of shares demonstrates confidence in the company.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's financial performance or future prospects.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of director interests with those of shareholders.
Related Party Transactions
- The stock unit acquisition is related to Mr. Wathen's compensation as a director, which is a related party transaction.
Stakeholder Impact
- The filing provides transparency to shareholders regarding director compensation and ownership.
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. |
| February 20, 2025 | Date of transaction: Mr. Wathen credited with 234.14 Stock Units for dividends. |
| February 21, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Director, Stock Units, Deferred Compensation, Beneficial Ownership, Franklin Electric Co. Inc., FELE, Wathen
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.