Form 4: Franklin Electric Co. Inc. Director Thomas R. VerHage Reports Stock Unit Acquisition
SEC Form 4 Filing
Director Thomas R. VerHage reports acquisition of stock units in Franklin Electric Co. Inc. due to dividend accrual under a deferred compensation plan.
Summary
- Thomas R. VerHage, a director of Franklin Electric Co. Inc., filed a Form 4 on August 16, 2024, reporting a transaction on August 15, 2024.
- The transaction involved the acquisition of 151.75 stock units due to dividends on deferred shares.
- These stock units are part of the Nonemployee Directors' Deferred Compensation Plan.
- Mr. VerHage now beneficially owns 60,619.6 shares of Franklin Electric Co. Inc. common stock.
- The price per share for the dividend accrual is $99.62.
Sentiment
Score: 7
Explanation: The sentiment is neutral as it reflects a routine transaction related to director compensation. There are no indications of positive or negative performance, just standard procedure.
Future Outlook
At distribution, Mr. VerHage 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 of insider transactions, which are common in publicly traded companies. It reflects the compensation structure for board members and their investment in the company's stock.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders as it is related to director compensation and dividend accrual.
Key Dates
| Date | Description |
|---|---|
| February 11, 2000 | Date the Nonemployee Directors' Deferred Compensation Plan was approved by the Board of Directors. |
| May 6, 2020 | Date the Nonemployee Directors' Deferred Compensation Plan was amended and restated. |
| 08/15/2024 | Date of the transaction where Mr. VerHage was credited with 151.75 Stock Units for dividends. |
| 08/16/2024 | Date the Form 4 was signed. |
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