secwatch.observer — SEC 8-K summary
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Issuer:     Allegion plc (ALLE)
CIK:        0001579241
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0001193125-22-162927
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allegion CEO David Petratis to retire July 11; John Stone from Deere to succeed
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- David Petratis retires as President and CEO effective July 11, 2022; will serve as Executive Chairman until Jan. 2, 2023.
- John H. Stone, formerly President of Deere's Construction, Forestry & Power Systems, becomes President and CEO and joins the Board on July 11.
- Stone receives $1M base salary, 125% target annual cash incentive, and $4.5M LTI target (50% PSUs, 25% RSUs, 25% options).
- Stone also gets one-time grants: $2M in stock options vesting over 3 years and $5.5M in RSUs vesting over 4 years, compensating for forfeited Deere awards.
- Petratis led Allegion since its 2013 spin-off; company doubled market cap and adjusted EPS under his tenure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1579241/000119312522162927/0001193125-22-162927-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1579241/000119312522162927/d365596d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-162927

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