Form 4: Franklin Electric Director Victor Grizzle Receives Dividend Equivalents in Deferred Stock Units

Franklin Electric Co. Inc. Director Victor Grizzle was credited with 15.12 stock units as dividend equivalents under the company's Nonemployee Directors' Deferred Compensation Plan.

Summary

• Victor Grizzle, a Director at Franklin Electric Co. Inc. (FELE), was credited with 15.12 stock units on May 22, 2025.
• These stock units represent dividend equivalents on previously deferred shares, as per the Nonemployee Directors' Deferred Compensation Plan.
• The stock units were credited at a price of $86.35 per common stock.
• Following this transaction, Mr. Grizzle beneficially owns 4,940.62 derivative securities (stock units).
• The plan allows Mr. Grizzle to elect to receive his deferred compensation in either Franklin common stock or cash upon retirement or departure from the Board.

Sentiment

Score: 6

Explanation: The transaction is a routine, positive aspect of director compensation, showing continued alignment with shareholder interests through a deferred compensation plan. It is not a major event but reflects stable governance.

Positives

• The crediting of dividend equivalents indicates continued participation and alignment of a director's interests with shareholders through the deferred compensation plan.
• The transaction is part of a pre-approved, long-standing compensation plan for non-employee directors, reflecting stable corporate governance practices.

Negatives

• No negative aspects are indicated in this routine insider transaction filing.

Risks

• The document, being a Form 4, does not disclose company-specific operational or financial risks.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction, beyond the terms of the deferred compensation plan which allow for future distribution of deferred compensation.

Management Comments

• Mr. Grizzle elected to receive his 2023-2024 stock award, meeting fees, and retainer of Franklin Electric Co., Inc. common stock, with issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan.
• 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

This Form 4 filing is a routine disclosure of an insider transaction related to director compensation and does not provide information relevant to broader industry trends or competitive analysis.

Corporate Governance

Related Party Transactions

• The transaction involves Victor Grizzle, a Director of Franklin Electric Co. Inc., receiving compensation in the form of stock units under a company-approved deferred compensation plan. This is a standard related-party transaction for director compensation.

Stakeholder Impact

• Shareholders: The transaction is a routine part of director compensation, aligning director interests with shareholders through equity-based awards, but has a negligible direct impact on share price due to its small size.
• Employees: No direct impact on employees is indicated.

Next Steps

• Mr. Grizzle's deferred compensation, including these stock units, will be distributed upon his retirement, departure from the Board, or as elected per the terms of the Nonemployee Directors' Deferred Compensation Plan.
• At distribution, Mr. Grizzle has the option to receive his deferred compensation in either Franklin common stock or cash.

Key Dates

Keywords

Franklin Electric, FELE, Victor Grizzle, Form 4, Insider Transaction, Stock Units, Deferred Compensation, Director Compensation, Dividend Equivalents