Franklin Electric (FELE) Director Receives 13.67 Deferred Stock Units
Rhea-AI Filing Summary
Victor Grizzle, a director of Franklin Electric Co., Inc. (FELE), was credited with 13.67 Stock Units on 08/21/2025 under the company's Nonemployee Directors' Deferred Compensation Plan. The filing shows these units represent dividends that would have been paid on deferred shares for Mr. Grizzle's 2023-2024 stock award, meeting fees and retainer. At distribution, the plan allows Mr. Grizzle to elect payment in Franklin Electric common stock or cash. The Form 4 was executed by Jonathan M. Grandon as power of attorney and dated 08/22/2025.
Positive
- 13.67 Stock Units credited for dividend equivalents on 08/21/2025 as disclosed in the Form 4
- Transaction made under the Nonemployee Directors' Deferred Compensation Plan, which permits election of payment in stock or cash at distribution
Negative
- None.
Insights
TL;DR: Routine crediting of 13.67 dividend stock units to a nonemployee director under the firm's deferred compensation plan; immaterial to financials.
The transaction is a non‑derivative credit of 13.67 Stock Units on 08/21/2025, described as dividend equivalents under the Nonemployee Directors' Deferred Compensation Plan. This entry reflects bookkeeping of deferred compensation rather than a cash or equity issuance to the public markets. The filing does not report a purchase or sale of common stock on the open market, nor does it change outstanding share counts or company cash flows at the reporting date. No additional financial metrics, valuations, or material transactions are disclosed in the Form 4 beyond the credited units and the plan's distribution election options.
TL;DR: Disclosure documents a routine director compensation deferral; procedural and plan-based, with no sign of unusual governance action.
The Form 4 indicates Mr. Grizzle elected to defer his 2023-2024 stock award, meeting fees and retainer under the board‑approved Nonemployee Directors' Deferred Compensation Plan. On 08/21/2025 he was credited with 13.67 Stock Units representing dividend equivalents. The report is executed under power of attorney on 08/22/2025. The filing provides plan mechanics (deferred issuance and distribution election of stock or cash) but contains no exceptions, accelerations, or departures from standard plan terms as disclosed in this document.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | stock units | 13.67 | $95.76 | $1K |
Footnotes (1)
- F1. 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. Grizzle elected to receive his 2023-2024 stock award, meeting fees and retainer of Franklin Electric Co., Inc common stock, issuance of such shares deferred until he retires, otherwise leaves the Board of Directors, or has elected to receive such payment per the terms of the Plan (e.g. Stock Units). On August 21, 2025, Mr. Grizzle was credited with 13.67 Stock Units for dividends that would have been paid on such deferred shares. At distribution, Mr. Grizzle may elect pursuant to the terms of the Plan to receive his deferred compensation either in shares of Franklin common stock or in cash.
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