Form 4: Franklin Electric Director David Wathen Reports Share Transactions Following Retirement
SEC Form 4 Filing
David Wathen, a director at Franklin Electric Co Inc, reports the acquisition and disposal of shares following his retirement from the board.
Summary
- On May 1, 2025, David Wathen, a director at Franklin Electric Co Inc, reported transactions involving the company's common stock.
- Wathen acquired 93,888.65 shares of common stock at $85.35 per share and disposed of 0.65 shares at the same price.
- Following these transactions, Wathen beneficially owns 99,402 shares.
- These transactions are related to Wathen's deferred compensation plan as a nonemployee director, where he elected to receive his compensation in Franklin Electric common stock, with issuance deferred until his retirement, which occurred on May 1, 2025.
- Wathen has retired from the board and has elected to receive his deferred compensation in Franklin common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing share transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to gauge management's sentiment and alignment with shareholder interests.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | David M. Wathen | NA | 05/01/2025 | Retirement |
Related Party Transactions
- The transactions related to the Nonemployee Directors' Deferred Compensation Plan are related party transactions.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding director's holdings.
- The retirement of David Wathen may impact the board's composition and expertise.
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. |
| May 1, 2025 | Date of transactions and Wathen's retirement from the board. |
| May 2, 2025 | Date of signature on the report. |
Keywords
Form 4, Director, Share Transactions, Beneficial Ownership, Franklin Electric, FELE, David Wathen, Deferred Compensation, Retirement
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