secwatch.observer — SEC 8-K summary
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Issuer:     LEGGETT & PLATT INC (LEG)
CIK:        0000058492
Form:       8-K
Filed at:   2026-02-24T23:59:59+00:00
Accession:  0001193125-26-067008
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Leggett & Platt approves 2026 executive compensation; retention agreements for key NEOs
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- CEO Glassman base salary raised to $1.315M (+3.1%); other NEOs base salaries increased 3-5%.
- KOIP target percentages unchanged for most NEOs at 80%; EVP/GC Davis increased to 75% from 70%.
- LTI award multiples unchanged for most; Davis increased to 175% from 170%.
- 2026 KOIP performance targets: corporate participant EBITDA target $375M, Cash Flow target $231.3M.
- Retention agreements for Burns ($618K), Hagale ($618K), Smith ($540.75K), Davis ($630.875K) subject to clawback.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58492/000119312526067008/0001193125-26-067008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58492/000119312526067008/d29281d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-067008

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