Franklin Electric (FELE) director converts deferred pay into 2,474 shares
Rhea-AI Filing Summary
Victor Grizzle, a director of Franklin Electric Co., Inc. (FELE), reported transactions under Section 16 on 10/03/2025 showing the receipt of 2,474.53 common shares and the disposition of 0.53 fractional share settled in cash, leaving him with 12,084.53 shares beneficially owned (reported as 12,084 shares owned outright plus fractional units). The shares were issued under the Nonemployee Directors' Deferred Compensation Plan for his 2023 director retainer, fees and stock award; dividend reinvestment on those deferred shares was also included. The transactions were reported by power of attorney on 10/06/2025 and show an implicit per-share price of $96.32 for reporting purposes.
Positive
- Director increased equity alignment by receiving 2,474.53 shares under the deferred compensation plan
- Fractional share handled in cash, avoiding fractional share administration
Negative
- None.
Insights
Director elected deferred pay into stock, modestly increasing share ownership.
The reporting shows a nonemployee director converting deferred compensation into 2,474.53 shares under the company's deferred compensation plan, reflecting routine governance practice to align directors with shareholder interests. The reported per-share figure is $96.32, consistent with the Form 4 presentation rather than an open-market trade price.
Dependence on plan terms and timing matters: this is a plan-driven issuance tied to 2023 retainer and awards rather than a discretionary market purchase. Investors may note the director's continued equity stake of about 12,084 outright shares as an alignment signal over the near term.
Deferred compensation payout was in shares per plan terms; fractional share paid in cash.
The Form 4 discloses the mechanics: stock units under the Nonemployee Directors' Deferred Compensation Plan converted into 2,474.53 common shares, with a 0.53 fractional portion paid out in cash. This is an administrative conversion rather than an exercise of options or open-market purchase.
Watch for the company's routine timing of director deferrals and any future elections under the plan around annual retainer cycles; these events are typically recurring each year and have near-term accounting and ownership reporting effects.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | stock units | 2,474.53 | $0.00 | -- |
| Exercise | common stock | 2,474.53 | $96.32 | $238K |
| Other | common stock | 0.53 | $96.32 | $51.05 |
Footnotes (1)
- Partial shares paid out in cash. Includes 12,084 shares owned outright. 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 has elected to receive his deferred compensation in shares of Franklin common stock. The deferred compensation was for his 2023 Board of Directors retainer, member fees and stock award in Franklin Electric Co., Inc. common stock and dividends received on such shares.
