secwatch.observer — SEC 8-K summary
======================================

Issuer:     LEGGETT & PLATT INC (LEG)
CIK:        0000058492
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001193125-23-067612
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leggett & Platt sets 2023 KOIP targets; PSUs now based on EBITDA/ROIC with TSR multiplier
--------------------------------------------------------------------------------

- Corporate NEOs: EBITDA target $591M, Cash Flow $494M; no payout below $443.25M EBITDA/$370.50M Cash Flow.
- Profit center targets: Bedding EBITDA $286.4M/FCF $282.8M; Specialized & FF&T EBITDA $339.1M/FCF $263.0M.
- PSU metrics changed to EBITDA (50%) and ROIC (50%) over 3 years, with Relative TSR multiplier (0.75-1.25).
- Glassman (Exec Chairman) received no PSUs; RSUs prorated for May 2023 retirement.
- PSU base awards: Dolloff 44,976; Tate 13,684; Hagale 9,778; Henderson 9,778; Douglas 7,669 (target).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58492/000119312523067612/0001193125-23-067612-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58492/000119312523067612/d822385d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-067612

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