Fastenal appoints Jeffery M. Watts as director and CEO, effective July 16, 2026; sets compensation

FASTENAL CO

Jeffery M. Watts appointed President and CEO and elected to Board, succeeding Daniel L. Florness, effective July 16, 2026.
Annual base salary of $650,000, prorated from CEO Transition Date through end of 2026.
Target quarterly cash incentive: 1.75% of company-wide quarterly pre-tax income exceeding 100% of prior-year same quarter.
No additional equity grants in 2026; eligible for equity awards in 2027.
Watts receives $50,000 annual cash retainer for director service.

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