MASCO CORP /DE/: Amended Bylaws to add special meeting right for qualifying shareholders (25% ownership for at least one year) and update director nomination procedural requirements, plus other clarifying changes (effective 2026-05-08).
“Effective May 8, 2026, Section 1.02 of the Bylaws is amended to give shareholders owning 25% or more of the voting power of the Company’s outstanding shares, who have owned such shares continuously for at least one year, the ability to request that the Company’s Board call a special meeting of shareholders. Section 1.06 of the Bylaws is amended to include the time period and procedural and information requirements for stockholder nominations of directors. In addition, the Bylaws were amended for certain other clarifying, technical and conforming changes.”
Governance Changes
MASCO CORP /DE/: Amended Article 14 to limit the liability of certain officers as permitted by law.
“Amend Article 14 to limit the liability of certain officers as permitted by law”
Governance Changes
MASCO CORP /DE/: Amended Article 8 to enable adoption of stockholders’ right to call a special meeting of stockholders.
“Amend Article 8 to enable adoption of stockholders’ right to call a special meeting of stockholders”
Governance Changes
MASCO CORP /DE/: Amended Article 7(b) to move advance notice provisions for stockholder nominations to Bylaws and amend advance notice period.
“Amend Article 7(b) to move the advance notice provisions for stockholder nominations to the Company’s Bylaws and amend the advance notice period”
Earnings Releases
MASCO CORP /DE/ reported first quarter 2026 results: revenue $1,918 million, EPS $1.05 per share. Guidance reaffirmed.
“• On a reported basis, compared to the first quarter 2025: • Net sales increased 6 percent to $1,918 million; net sales increased 4 percent in local currency ◦ Plumbing Products’ net sales increased 9 percent; in local currency net sales increased 7 percent ◦ Decorative Architectural Products’ net sales were in line with prior year ◦ In local currency, North American sales increased 5 percent and International sales increased 1 percent • Gross margin was in line with the prior year at 35.8 percent • Operating profit increased 10 percent to $316 million from $286 million • Operating margin increased 60 basis points to 16.5 percent from 15.9 percent • Net income increased 21 percent to $1.05 per share, compared to $0.87 per share”
Debt Financings
MASCO CORP /DE/ incurred revolving credit of U.S. $1 billion with JPMorgan Chase Bank, N.A. and J.P. Morgan SE, collectively as administrative agent at sum of (i) the Adjusted Term SOFR Rate (or other applicable floating reference r maturing March 20, 2031, with two optional one-year extensions.
“On March 20, 2026, Masco Corporation (the “Company”) entered into a Credit Agreement (the “New Credit Agreement”) dated as of March 20, 2026 among Masco Corporation and Masco Europe S.à r.l., as borrowers, the lenders party thereto, and JPMorgan Chase Bank, N.A. and J.P. Morgan SE, collectively as administrative agent, pursuant to which the lenders party thereto have provided the Company with revolving credit commitments thereunder in an aggregate amount of U.S. $1 billion.”
Material Agreements
MASCO CORP /DE/ terminated 2022 Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent (effective 2026-03-20).
“The New Credit Agreement refinanced and replaced in full the Company’s prior Credit Agreement dated as of April 26, 2022 (as amended, the “2022 Credit Agreement”), among Masco Corporation and Masco Europe S.à r.l., as borrowers, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, with aggregate revolving credit commitments of U.S. $1 billion, which agreement and revolving credit commitments thereunder were terminated in full in connection with the entry into the New Credit Agreement.”
Material Agreements
MASCO CORP /DE/ entered into Credit Agreement with JPMorgan Chase Bank, N.A. and J.P. Morgan SE, collectively as administrative agent valued at $1 billion (effective 2026-03-20).
“On March 20, 2026, Masco Corporation (the “Company”) entered into a Credit Agreement (the “New Credit Agreement”) dated as of March 20, 2026 among Masco Corporation and Masco Europe S.à r.l., as borrowers, the lenders party thereto, and JPMorgan Chase Bank, N.A. and J.P. Morgan SE, collectively as administrative agent, pursuant to which the lenders party thereto have provided the Company with revolving credit commitments thereunder in an aggregate amount of U.S. $1 billion.”
Jonathon J. Nudi was appointed as President and Chief Executive Officer at MASCO CORP /DE/.
“The Board of Directors has elected Mr. Jonathon J. Nudi, 54, as President and Chief Executive Officer of the Company effective as of July 7, 2025.”
Keith J. Allman departed as President and Chief Executive Officer at MASCO CORP /DE/.
“Mr. Keith J. Allman is retiring from his position as the Company’s President and Chief Executive Officer effective as of July 6, 2025.”
Heath M. Eisman was elected as Vice President, Controller and Chief Accounting Officer at MASCO CORP /DE/.
“On February 26, 2025, the Board of Directors of Masco Corporation (the “Company”) elected Heath M. Eisman, 50, as the Company’s Vice President, Controller and Chief Accounting Officer, effective February 27, 2025.”
Donald R. Parfet departed as Director at MASCO CORP /DE/.
“Mr. Donald R. Parfet announced his intention to retire from the Company’s Board of Directors and not stand for re-election at the Company’s 2025 Annual Meeting of Stockholders on May 9, 2025.”
Bonnie S. Van Etten departed as Vice President, Controller and Chief Accounting Officer at MASCO CORP /DE/.
“On January 31, 2025, Bonnie S. Van Etten, Vice President, Controller and Chief Accounting Officer, notified the Company of her intent to conclude service with the Company in early March of 2025.”
Bonnie Van Etten was elected as Vice President, Controller and Chief Accounting Officer at MASCO CORP /DE/.
“On June 7, 2024, the Board of Directors of Masco Corporation (the “Company”) elected Bonnie Van Etten, 48, as the Company’s Vice President, Controller and Chief Accounting Officer, effective June 17, 2024.”
Shareholder Votes
MASCO CORP /DE/ shareholders approved A non-binding advisory vote to approve a stockholder proposal entitled 'Simple Majority Vote' at the 2024-05-10 meeting.
“Proposal 5 : A non-binding advisory vote to approve a stockholder proposal entitled "Simple Majority Vote."”
Shareholder Votes
MASCO CORP /DE/ shareholders approved Approval of the Masco Corporation 2024 Long Term Stock Incentive Plan at the 2024-05-10 meeting.
“Votes For Votes Against Abstentions Broker Non-Votes 187,022,801 6,317,781 158,660 9,804,172 Proposal 5 : A non-binding advisory vote to approve a stockholder proposal entitled “Simple Majority Vote.” Votes For Votes Against Abstentions Broker Non-Votes 182,580,159 2,565,832 8,353,053 9,804,370”
Shareholder Votes
MASCO CORP /DE/ shareholders approved The ratification of the selection of PricewaterhouseCoopers LLP to act as independent auditors for the Company for 2024 at the 2024-05-10 meeting.
“Proposal 3 : The ratification of the selection of PricewaterhouseCoopers LLP to act as independent auditors for the Company for 2024.”
Shareholder Votes
MASCO CORP /DE/ shareholders approved A non-binding advisory vote to approve the compensation paid to the Company’s named executive officers at the 2024-05-10 meeting.
“Proposal 2 : A non-binding advisory vote to approve the compensation paid to the Company’s named executive officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables, and the related material disclosed in the Proxy Statement.”
Shareholder Votes
MASCO CORP /DE/ shareholders approved Election of three Class III directors to serve until the Annual Meeting in 2027 at the 2024-05-10 meeting.
“Proposal 1 : The election of three Class III directors to serve until the Annual Meeting in 2027.”
Earnings Releases
MASCO CORP /DE/ updated its 2024 guidance (reaffirmed).
“Continue to expect 2024 earnings per share in the range of $4.00 – $4.25 per share”
Earnings Releases
MASCO CORP /DE/ reported first quarter 2024 results: revenue $1,926 million, EPS $0.97 per share.
“MASCO CORPORATION REPORTS FIRST QUARTER 2024 RESULTS Highlights • Net sales decreased 3 percent to $1,926 million • Operating profit increased 1 percent to $318 million; adjusted operating profit increased 3 percent to $322 million • Operating profit margin increased 60 basis points to 16.5 percent; adjusted operating profit margin increased 90 basis points to 16.7 percent • Earnings per share was $0.97 per share; adjusted earnings per share grew 8 percent to $0.93 per share • Repurchased 2.1 million shares for $148 million • Continue to expect 2024 earnings per share in the range of $4.00 – $4.25 per share”
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