Form 4: Franklin Electric Co. Inc. Director Victor Grizzle Reports Changes in Beneficial Ownership

Director Victor Grizzle reports acquisition of stock units due to dividend accrual under the Nonemployee Directors' Deferred Compensation Plan.

Summary

• On August 15, 2024, Victor Grizzle, a director of Franklin Electric Co. Inc., reported changes in beneficial ownership.
• The change involves the acquisition of 29.15 stock units.
• These stock units were credited to Mr. Grizzle for dividends that would have been paid on deferred shares under the Nonemployee Directors' Deferred Compensation Plan.
• Mr. Grizzle's total holdings following the transaction amount to 11,645.84 shares.
• The price of the stock at the time of the dividend accrual was $99.62.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard compensation practices and insider alignment with shareholder interests.

Positives

• The acquisition of stock units reflects continued participation in the company's deferred compensation plan.
• The director's continued stock ownership aligns his interests with those of the shareholders.

Future Outlook

At distribution, Mr. Grizzle may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates standard compensation practices for board members.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates