Franklin Electric files 8-K/A correcting CEO-designate Ruzynski's prior employer; details compensation package

FRANKLIN ELECTRIC CO INC

Amendment corrects Ruzynski's employment: he was President, Enclosures Segment at nVent Electric, not Pentair as initially reported.
Joseph Ruzynski appointed CEO effective July 1, 2024; Gregg Sengstack retires as CEO but remains Executive Chairperson.
Ruzynski receives $900k base salary, 100% target bonus, $250k signing bonus, and $5.25M equity grant (50% PSUs, 25% RSUs, 25% options).
Relocation assistance provided; no material interest in any transaction or arrangement.

item 5.02 item 9.01

Executive movements

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Appointed

Joseph Ruzynski

Chief Executive Officer

FELE · FRANKLIN ELECTRIC CO INC

Effective: 2024-07-01
Filed: May 22, 2024, 7:59 PM ET

The Board announced that it will appoint Joseph Ruzynski as Chief Executive Officer, effective July 1, 2024

Role change

Gregg C. Sengstack

Executive Chairperson

FELE · FRANKLIN ELECTRIC CO INC

Effective: 2024-07-01
Successor: Joseph Ruzynski
Filed: May 22, 2024, 7:59 PM ET

Gregg C. Sengstack, Chief Executive Officer of Franklin Electric Co., Inc. (the “Company”) and Chairperson of the Company’s Board of Directors (the “Board”) notified the Board of his intention to retire from his position as Chief Executive Officer upon the appointment of his successor .

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Joseph Ruzynski was appointed as Chief Executive Officer at FRANKLIN ELECTRIC CO INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

The Board announced that it will appoint Joseph Ruzynski as Chief Executive Officer, effective July 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Gregg C. Sengstack retired as Executive Chairperson at FRANKLIN ELECTRIC CO INC.

Action: retired
Role: Executive Chairperson

Exact text from the filing

Gregg C. Sengstack, Chief Executive Officer of Franklin Electric Co., Inc. (the “Company”) and Chairperson of the Company’s Board of Directors (the “Board”) notified the Board of his intention to retire from his position as Chief Executive Officer upon the appointment of his successor .

View on SEC.gov

FRANKLIN ELECTRIC CO INC filing history →

Source: SEC EDGAR

accession 0000038725-24-000119

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