Form 4: Franklin Electric Co. Inc. Director Jennifer L. Sherman Reports Stock Unit Acquisition
SEC Form 4 Filing
Director Jennifer L. Sherman reports acquisition of stock units in Franklin Electric Co. Inc. due to dividend accrual under a deferred compensation plan.
Summary
- Jennifer L. Sherman, a director of Franklin Electric Co. Inc., filed a Form 4 indicating changes in beneficial ownership.
- On February 20, 2025, Ms. Sherman acquired 108.49 stock units as a result of dividends accrued on deferred shares under the Nonemployee Directors' Deferred Compensation Plan.
- These stock units are payable in either Franklin common stock or cash upon her retirement or departure from the Board of Directors, or as otherwise elected per the plan's terms.
- Following the reported transaction, Ms. Sherman beneficially owns 43,505.81 shares of Franklin Electric Co. Inc. common stock.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing a routine transaction related to director compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance. It outlines the terms of the deferred compensation plan and the director's election to receive compensation in stock units.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of director interests with shareholder value.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects a change in the director's beneficial ownership due to dividend accrual.
Key Dates
| Date | Description |
|---|---|
| February 11, 2000 | Date the Board of Directors approved the Nonemployee Directors' Deferred Compensation Plan. |
| May 6, 2020 | Date the Nonemployee Directors' Deferred Compensation Plan was amended and restated. |
| 02/20/2025 | Date of the transaction where Ms. Sherman acquired 108.49 stock units. |
| 02/21/2025 | Date of the signature on the Form 4 filing. |
Keywords
Form 4, beneficial ownership, stock units, deferred compensation, Franklin Electric, director, dividends
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