secwatch.observer — SEC 8-K summary
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Issuer:     Parker-Hannifin Corp (PH)
CIK:        0000076334
Form:       8-K
Filed at:   2022-08-23T23:59:59+00:00
Accession:  0001193125-22-227588
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Parker-Hannifin adopts new Officer Annual Cash Incentive Plan and Deferred Compensation Plan
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- Officer ACIP metrics: segment operating income (40%), sales revenue (20%), cash flow (40%); performance multiplier up to ±20% based on ESG/strategic goals.
- Fiscal 2023 target opportunities for named executive officers are materially consistent with prior cash incentive programs.
- New Deferred Compensation Plan (effective Jan 1, 2023) allows deferral of up to 50% of base salary and 80% of cash incentives.
- DCP includes discretionary matching contribution of 100% on first 5% of eligible compensation, reduced by qualified plan match, and Executive Retirement Contribution up to 4%.
- DCP vesting: participant deferrals and matching always vested; Excess RIA contributions vest after 3 years; Executive Retirement Contributions vest at age 55 with 5 years of service.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/76334/000119312522227588/0001193125-22-227588-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/76334/000119312522227588/d366447d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-227588

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