secwatch.observer — SEC 8-K summary
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Issuer:     LEGGETT & PLATT INC (LEG)
CIK:        0000058492
Form:       8-K
Filed at:   2022-02-24T23:59:59+00:00
Accession:  0001193125-22-051226
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leggett & Platt sets 2022 executive compensation; Dolloff base salary raised to $1.12M, Glassman reduced to $750K
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- President & CEO Dolloff base salary increased 40% to $1.12M; KOIP target raised to 125%; LTI multiple to 400%.
- Executive Chairman Glassman base salary decreased 39% to $750K; KOIP target to 100%; LTI multiple to 200% (all RSUs).
- CFO Tate, EVP Henderson, and SVP Douglas received modest base salary increases (3-5%); KOIP and LTI multiples unchanged.
- 2022 KOIP award formula: ROCE (60%) and Cash Flow/FCF (40%); min ROCE 28.1%, cash flow $476.25M for corporate participants.
- Vehicle policy change: NEOs lose company cars, get $800/month for 12 months in lieu.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58492/000119312522051226/0001193125-22-051226-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58492/000119312522051226/d339670d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-051226

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer