Form 4: Franklin Electric Director David M. Wathen Acquires Shares as Board Retainer and Fees
SEC Form 4
Director David M. Wathen acquired 2,289 shares of Franklin Electric common stock on May 2, 2024, as payment for his 2024 Board of Director retainer, stock award, and committee member fees.
Summary
- On May 2, 2024, David M. Wathen, a director of Franklin Electric Co Inc, acquired 2,289 shares of common stock.
- The acquisition was a result of Mr. Wathen electing to receive his 2024 Board of Director retainer, stock award, and committee member fees in common stock.
- The shares vested immediately upon receipt.
- Following the transaction, Mr. Wathen beneficially owns 5,514 shares outright.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction related to director compensation.
Positives
- The director's decision to take compensation in stock aligns his interests with those of shareholders.
Management Comments
- Mr. Wathen elected to receive all payments in common stock.
Industry Context
Directors receiving stock as compensation is a common practice to align their interests with shareholders.
Stakeholder Impact
- The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.
Key Dates
| Date | Description |
|---|---|
| 05/02/2024 | Date of transaction: David M. Wathen acquired 2,289 shares of Franklin Electric common stock. |
| 05/03/2024 | Date of signature: Jonathan M. Grandon, power of attorney for David M. Wathen, signed the form. |
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