February 15, 2024 · Form 4 insider transaction
Wathen David M bought 231.2 shares of Franklin Electric Co., Inc. at $100.28 per share, a transaction worth $23.2K. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 1 day after the transaction.
Pursuant to terms of the Nonemployee Directors' Deferred Compensation Plan approved by the Board of Directors on February 11, 2000 and amended and restated on May 6, 2020, Mr. Wathen elected to receive his 2005-2016 and 2019 Board of Directors retainer, stock award, and meeting fees in Franklin Electric Co., Inc. common stock, and in 2017-2018, his retainer, stock award, meeting fees, and lead independent director fees in Franklin Electric Co., Inc. common stock issuance of such shares deferred until he retires or otherwise leaves the Board of Directors (e.g. Stock Units). On February 15, 2024, Mr. Wathen was credited with 231.20 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. Wathen may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.