[8-K] Stanley Black & Decker, Inc. Reports Material Event
Stanley Black & Decker, Inc. (NYSE: SWK) filed an 8-K to announce a planned leadership transition effective 1 October 2025. The Board has appointed Christopher J. Nelson, currently Chief Operating Officer and President of the Tools & Outdoor segment, as the Company’s next President & Chief Executive Officer and a director. Incumbent CEO Donald Allan Jr. will become Executive Chairman through his retirement on 30 September 2026, providing a year of overlap to support continuity.
Key contractual economics were disclosed: Mr. Nelson will receive an $1.3 million annual base salary, a target annual bonus equal to 160 % of base pay, and 2026 equity awards valued at $10.345 million. A one-time “top-up” equity grant of $1.686 million will be issued post-transition (25 % RSUs, 25 % options, 50 % PSUs). Severance protection equals 2× salary plus target bonus and up to two years of benefits if terminated without cause or for good reason.
Mr. Allan, as Executive Chairman, will earn a $1.1 million salary, a target bonus of 150 % of salary, and 2026 equity awards worth $6 million (50 % RSUs / 50 % options). He retains company-paid welfare benefits until age 65.
The filing also notes that, on 30 June 2025, the Company released guidance and management updates via press release (Exhibit 99.1) and clarified that the furnished information is not deemed “filed” under the Exchange Act.
No related-party transactions or family relationships were reported. The disclosed agreements (Exhibits 10.1 & 10.2) contain customary confidentiality, non-compete and indemnification clauses.
Stanley Black & Decker, Inc. (NYSE: SWK) ha presentato un modulo 8-K per annunciare una transizione di leadership prevista a partire dal 1 ottobre 2025. Il Consiglio di Amministrazione ha nominato Christopher J. Nelson, attualmente Chief Operating Officer e Presidente del segmento Tools & Outdoor, come prossimo Presidente e Amministratore Delegato dell'azienda e membro del consiglio. L'attuale CEO, Donald Allan Jr., assumerà il ruolo di Presidente Esecutivo fino al suo pensionamento il 30 settembre 2026, garantendo così un anno di sovrapposizione per assicurare continuità.
Sono stati resi noti i principali termini contrattuali: il sig. Nelson riceverà uno stipendio base annuo di 1,3 milioni di dollari, un bonus annuale target pari al 160% dello stipendio base e premi azionari per il 2026 del valore di 10,345 milioni di dollari. Inoltre, dopo la transizione, gli sarà assegnata una sovvenzione azionaria una tantum di 1,686 milioni di dollari (25% RSU, 25% opzioni, 50% PSU). La protezione in caso di licenziamento senza giusta causa o per giusta ragione prevede un indennizzo pari a 2 volte lo stipendio più il bonus target e fino a due anni di benefici.
Il sig. Allan, nel ruolo di Presidente Esecutivo, percepirà uno stipendio di 1,1 milioni di dollari, un bonus target pari al 150% dello stipendio e premi azionari per il 2026 del valore di 6 milioni di dollari (50% RSU / 50% opzioni). Mantiene inoltre i benefici welfare pagati dall’azienda fino all’età di 65 anni.
Il documento segnala anche che, il 30 giugno 2025, la società ha diffuso previsioni e aggiornamenti di gestione tramite comunicato stampa (Esibizione 99.1), precisando che le informazioni fornite non sono considerate "depositate" ai sensi dell’Exchange Act.
Non sono state segnalate transazioni con parti correlate né rapporti familiari. Gli accordi divulgati (Esibizioni 10.1 e 10.2) includono clausole consuete di riservatezza, non concorrenza e indennizzo.
Stanley Black & Decker, Inc. (NYSE: SWK) presentó un formulario 8-K para anunciar una transición de liderazgo planificada que será efectiva a partir del 1 de octubre de 2025. La Junta ha nombrado a Christopher J. Nelson, actualmente Director de Operaciones y Presidente del segmento Tools & Outdoor, como el próximo Presidente y Director Ejecutivo de la compañía y director. El actual CEO, Donald Allan Jr., asumirá el cargo de Presidente Ejecutivo hasta su retiro el 30 de septiembre de 2026, proporcionando un año de superposición para apoyar la continuidad.
Se divulgaron los principales términos contractuales: el Sr. Nelson recibirá un salario base anual de 1.3 millones de dólares, un bono anual objetivo equivalente al 160% del salario base y premios en acciones para 2026 valorados en 10.345 millones de dólares. Se otorgará una concesión única de acciones de "complemento" de 1.686 millones de dólares después de la transición (25% RSU, 25% opciones, 50% PSU). La protección por despido sin causa o por buena razón equivale a 2 veces el salario más el bono objetivo y hasta dos años de beneficios.
El Sr. Allan, como Presidente Ejecutivo, recibirá un salario de 1.1 millones de dólares, un bono objetivo del 150% del salario y premios en acciones para 2026 por un valor de 6 millones de dólares (50% RSU / 50% opciones). Mantiene los beneficios de bienestar pagados por la empresa hasta los 65 años.
El documento también señala que, el 30 de junio de 2025, la compañía publicó pronósticos y actualizaciones de gestión mediante un comunicado de prensa (Exhibición 99.1) y aclaró que la información proporcionada no se considera "presentada" bajo la Exchange Act.
No se reportaron transacciones con partes relacionadas ni relaciones familiares. Los acuerdos divulgados (Exhibiciones 10.1 y 10.2) contienen cláusulas habituales de confidencialidad, no competencia e indemnización.
Stanley Black & Decker, Inc. (NYSE: SWK)는 2025년 10월 1일부로 예정된 리더십 전환을 발표하기 위해 8-K 보고서를 제출했습니다. 이사회는 현재 Tools & Outdoor 부문의 최고운영책임자(COO) 겸 사장인 Christopher J. Nelson을 회사의 차기 사장 겸 최고경영자(CEO) 및 이사로 임명했습니다. 현 CEO인 Donald Allan Jr.는 2026년 9월 30일 은퇴할 때까지 집행 의장(Executive Chairman)으로서 1년간의 인수인계 기간을 두어 연속성을 지원할 예정입니다.
주요 계약 조건이 공개되었습니다: 넬슨 씨는 연간 기본급 130만 달러, 기본급의 160%에 해당하는 목표 연간 보너스, 그리고 2026년 주식 보상금액 1,034만 5천 달러를 받게 됩니다. 전환 후 일회성 “보충” 주식 보너스 168만 6천 달러가 지급되며(25% RSU, 25% 옵션, 50% PSU), 정당한 사유 없이 해고되거나 정당한 이유로 해고될 경우 기본급의 2배와 목표 보너스, 최대 2년간 복리후생이 보장됩니다.
앨런 씨는 집행 의장으로서 연봉 110만 달러, 연봉의 150%에 해당하는 목표 보너스, 그리고 2026년 주식 보상금액 600만 달러(50% RSU / 50% 옵션)를 받습니다. 또한 65세까지 회사에서 제공하는 복리후생 혜택을 유지합니다.
보고서에는 2025년 6월 30일 회사가 보도자료(전시물 99.1)를 통해 가이던스 및 경영 현황을 발표했으며, 제공된 정보가 증권거래법(Exchange Act)에 따라 “제출된” 것으로 간주되지 않는다고 명확히 밝혔습니다.
관련 당사자 거래나 가족 관계는 보고되지 않았습니다. 공개된 계약서들(전시물 10.1 및 10.2)에는 관례적인 비밀 유지, 경쟁 금지 및 면책 조항이 포함되어 있습니다.
Stanley Black & Decker, Inc. (NYSE : SWK) a déposé un formulaire 8-K pour annoncer une transition de leadership prévue à compter du 1er octobre 2025. Le conseil d'administration a nommé Christopher J. Nelson, actuellement directeur des opérations et président du segment Tools & Outdoor, en tant que prochain président et directeur général de la société et administrateur. Le PDG actuel, Donald Allan Jr., deviendra président exécutif jusqu’à sa retraite le 30 septembre 2026, assurant ainsi une année de chevauchement pour garantir la continuité.
Les principaux termes contractuels ont été divulgués : M. Nelson recevra un salaire annuel de base de 1,3 million de dollars, un bonus annuel cible équivalent à 160 % du salaire de base, ainsi que des attributions d’actions pour 2026 d’une valeur de 10,345 millions de dollars. Une attribution unique d’actions complémentaire de 1,686 million de dollars sera accordée après la transition (25 % RSU, 25 % options, 50 % PSU). La protection en cas de licenciement sans cause ou pour motif légitime correspond à 2 fois le salaire plus le bonus cible et jusqu’à deux ans d’avantages.
M. Allan, en tant que président exécutif, percevra un salaire de 1,1 million de dollars, un bonus cible de 150 % du salaire et des attributions d’actions pour 2026 d’une valeur de 6 millions de dollars (50 % RSU / 50 % options). Il conserve les avantages sociaux payés par l’entreprise jusqu’à l’âge de 65 ans.
Le dépôt précise également que, le 30 juin 2025, la société a publié des prévisions et des mises à jour de gestion via un communiqué de presse (Exhibit 99.1) et a clarifié que les informations fournies ne sont pas considérées comme « déposées » en vertu de l’Exchange Act.
Aucune transaction avec des parties liées ni relation familiale n’a été signalée. Les accords divulgués (Exhibits 10.1 & 10.2) contiennent des clauses habituelles de confidentialité, de non-concurrence et d’indemnisation.
Stanley Black & Decker, Inc. (NYSE: SWK) hat ein Formular 8-K eingereicht, um einen geplanten Führungswechsel mit Wirkung zum 1. Oktober 2025 bekannt zu geben. Der Vorstand hat Christopher J. Nelson, derzeit Chief Operating Officer und Präsident des Tools & Outdoor-Segments, zum nächsten Präsidenten und Chief Executive Officer sowie zum Direktor des Unternehmens ernannt. Der amtierende CEO Donald Allan Jr. wird bis zu seinem Ruhestand am 30. September 2026 als Executive Chairman fungieren und so eine einjährige Überlappungsphase zur Unterstützung der Kontinuität gewährleisten.
Wesentliche vertragliche Konditionen wurden offengelegt: Herr Nelson erhält ein jährliches Grundgehalt von 1,3 Millionen US-Dollar, einen Zielbonus von 160 % des Grundgehalts sowie Aktienzuteilungen für 2026 im Wert von 10,345 Millionen US-Dollar. Nach der Übergabe wird eine einmalige „Top-up“-Aktienzuteilung in Höhe von 1,686 Millionen US-Dollar gewährt (25 % RSUs, 25 % Optionen, 50 % PSUs). Kündigungsschutz umfasst das 2-fache Gehalt plus Zielbonus sowie bis zu zwei Jahre Leistungen bei einer Kündigung ohne Grund oder aus wichtigem Grund.
Herr Allan wird als Executive Chairman ein Gehalt von 1,1 Millionen US-Dollar, einen Zielbonus von 150 % des Gehalts sowie Aktienzuteilungen für 2026 im Wert von 6 Millionen US-Dollar (50 % RSUs / 50 % Optionen) erhalten. Er behält die vom Unternehmen bezahlten Sozialleistungen bis zum Alter von 65 Jahren.
Die Einreichung weist außerdem darauf hin, dass das Unternehmen am 30. Juni 2025 eine Prognose und Management-Updates per Pressemitteilung (Anlage 99.1) veröffentlicht hat und klarstellt, dass die bereitgestellten Informationen nicht als „eingereicht“ im Sinne des Exchange Act gelten.
Es wurden keine Transaktionen mit verbundenen Parteien oder familiäre Beziehungen gemeldet. Die offengelegten Vereinbarungen (Anlagen 10.1 & 10.2) enthalten übliche Vertraulichkeits-, Wettbewerbsverbots- und Entschädigungsklauseln.
- Orderly succession plan provides 15 months for transition, reducing execution risk.
- Continuity maintained via Donald Allan serving as Executive Chairman through September 2026.
- Equity-heavy compensation aligns new CEO incentives with shareholder value creation.
- High total compensation packages may draw scrutiny amid cost-control efforts.
- Leadership change still introduces strategic uncertainty until Nelson’s effectiveness is proven.
Insights
TL;DR: Planned CEO hand-off appears orderly; generous but typical S&P-500 pay; limited governance red flags—overall neutral-to-positive for stability.
The Board gives investors 15 months’ notice of the CEO change, minimising execution risk. Retaining Donald Allan as Executive Chairman until late 2026 supports strategic continuity and preserves institutional knowledge. Compensation is high (≈US$13 m combined cash & equity at target for Nelson in first full year) but aligns with industry norms and includes performance stock, mitigating pay-for-performance concerns. Robust restrictive covenants and two-year double-cash severance are standard. No related-party dealings or special inducements were identified, which reduces governance risk. Because no operating metrics or guidance details were included, the filing’s impact is primarily leadership-related and should not materially shift valuation in the near term.
TL;DR: Leadership succession de-risks future execution; limited immediate financial impact—watch for Q2 guidance in Exhibit 99.1.
Nelson has run the largest profit pool (Tools & Outdoor) since 2023 and previously led multi-billion HVAC lines at Carrier, suggesting operational depth. His promotion could accelerate margin recovery initiatives already underway. Allan’s Executive Chair role signals Board confidence yet avoids abrupt change. Compensation levels, while sizeable, are largely equity-based, aligning interests. From a portfolio perspective this is governance news, not a thesis-altering event; the stock’s near-term reaction is likely muted unless the Q2 planning assumptions (not included here) differ materially from consensus. Impact rating: neutral.
Stanley Black & Decker, Inc. (NYSE: SWK) ha presentato un modulo 8-K per annunciare una transizione di leadership prevista a partire dal 1 ottobre 2025. Il Consiglio di Amministrazione ha nominato Christopher J. Nelson, attualmente Chief Operating Officer e Presidente del segmento Tools & Outdoor, come prossimo Presidente e Amministratore Delegato dell'azienda e membro del consiglio. L'attuale CEO, Donald Allan Jr., assumerà il ruolo di Presidente Esecutivo fino al suo pensionamento il 30 settembre 2026, garantendo così un anno di sovrapposizione per assicurare continuità.
Sono stati resi noti i principali termini contrattuali: il sig. Nelson riceverà uno stipendio base annuo di 1,3 milioni di dollari, un bonus annuale target pari al 160% dello stipendio base e premi azionari per il 2026 del valore di 10,345 milioni di dollari. Inoltre, dopo la transizione, gli sarà assegnata una sovvenzione azionaria una tantum di 1,686 milioni di dollari (25% RSU, 25% opzioni, 50% PSU). La protezione in caso di licenziamento senza giusta causa o per giusta ragione prevede un indennizzo pari a 2 volte lo stipendio più il bonus target e fino a due anni di benefici.
Il sig. Allan, nel ruolo di Presidente Esecutivo, percepirà uno stipendio di 1,1 milioni di dollari, un bonus target pari al 150% dello stipendio e premi azionari per il 2026 del valore di 6 milioni di dollari (50% RSU / 50% opzioni). Mantiene inoltre i benefici welfare pagati dall’azienda fino all’età di 65 anni.
Il documento segnala anche che, il 30 giugno 2025, la società ha diffuso previsioni e aggiornamenti di gestione tramite comunicato stampa (Esibizione 99.1), precisando che le informazioni fornite non sono considerate "depositate" ai sensi dell’Exchange Act.
Non sono state segnalate transazioni con parti correlate né rapporti familiari. Gli accordi divulgati (Esibizioni 10.1 e 10.2) includono clausole consuete di riservatezza, non concorrenza e indennizzo.
Stanley Black & Decker, Inc. (NYSE: SWK) presentó un formulario 8-K para anunciar una transición de liderazgo planificada que será efectiva a partir del 1 de octubre de 2025. La Junta ha nombrado a Christopher J. Nelson, actualmente Director de Operaciones y Presidente del segmento Tools & Outdoor, como el próximo Presidente y Director Ejecutivo de la compañía y director. El actual CEO, Donald Allan Jr., asumirá el cargo de Presidente Ejecutivo hasta su retiro el 30 de septiembre de 2026, proporcionando un año de superposición para apoyar la continuidad.
Se divulgaron los principales términos contractuales: el Sr. Nelson recibirá un salario base anual de 1.3 millones de dólares, un bono anual objetivo equivalente al 160% del salario base y premios en acciones para 2026 valorados en 10.345 millones de dólares. Se otorgará una concesión única de acciones de "complemento" de 1.686 millones de dólares después de la transición (25% RSU, 25% opciones, 50% PSU). La protección por despido sin causa o por buena razón equivale a 2 veces el salario más el bono objetivo y hasta dos años de beneficios.
El Sr. Allan, como Presidente Ejecutivo, recibirá un salario de 1.1 millones de dólares, un bono objetivo del 150% del salario y premios en acciones para 2026 por un valor de 6 millones de dólares (50% RSU / 50% opciones). Mantiene los beneficios de bienestar pagados por la empresa hasta los 65 años.
El documento también señala que, el 30 de junio de 2025, la compañía publicó pronósticos y actualizaciones de gestión mediante un comunicado de prensa (Exhibición 99.1) y aclaró que la información proporcionada no se considera "presentada" bajo la Exchange Act.
No se reportaron transacciones con partes relacionadas ni relaciones familiares. Los acuerdos divulgados (Exhibiciones 10.1 y 10.2) contienen cláusulas habituales de confidencialidad, no competencia e indemnización.
Stanley Black & Decker, Inc. (NYSE: SWK)는 2025년 10월 1일부로 예정된 리더십 전환을 발표하기 위해 8-K 보고서를 제출했습니다. 이사회는 현재 Tools & Outdoor 부문의 최고운영책임자(COO) 겸 사장인 Christopher J. Nelson을 회사의 차기 사장 겸 최고경영자(CEO) 및 이사로 임명했습니다. 현 CEO인 Donald Allan Jr.는 2026년 9월 30일 은퇴할 때까지 집행 의장(Executive Chairman)으로서 1년간의 인수인계 기간을 두어 연속성을 지원할 예정입니다.
주요 계약 조건이 공개되었습니다: 넬슨 씨는 연간 기본급 130만 달러, 기본급의 160%에 해당하는 목표 연간 보너스, 그리고 2026년 주식 보상금액 1,034만 5천 달러를 받게 됩니다. 전환 후 일회성 “보충” 주식 보너스 168만 6천 달러가 지급되며(25% RSU, 25% 옵션, 50% PSU), 정당한 사유 없이 해고되거나 정당한 이유로 해고될 경우 기본급의 2배와 목표 보너스, 최대 2년간 복리후생이 보장됩니다.
앨런 씨는 집행 의장으로서 연봉 110만 달러, 연봉의 150%에 해당하는 목표 보너스, 그리고 2026년 주식 보상금액 600만 달러(50% RSU / 50% 옵션)를 받습니다. 또한 65세까지 회사에서 제공하는 복리후생 혜택을 유지합니다.
보고서에는 2025년 6월 30일 회사가 보도자료(전시물 99.1)를 통해 가이던스 및 경영 현황을 발표했으며, 제공된 정보가 증권거래법(Exchange Act)에 따라 “제출된” 것으로 간주되지 않는다고 명확히 밝혔습니다.
관련 당사자 거래나 가족 관계는 보고되지 않았습니다. 공개된 계약서들(전시물 10.1 및 10.2)에는 관례적인 비밀 유지, 경쟁 금지 및 면책 조항이 포함되어 있습니다.
Stanley Black & Decker, Inc. (NYSE : SWK) a déposé un formulaire 8-K pour annoncer une transition de leadership prévue à compter du 1er octobre 2025. Le conseil d'administration a nommé Christopher J. Nelson, actuellement directeur des opérations et président du segment Tools & Outdoor, en tant que prochain président et directeur général de la société et administrateur. Le PDG actuel, Donald Allan Jr., deviendra président exécutif jusqu’à sa retraite le 30 septembre 2026, assurant ainsi une année de chevauchement pour garantir la continuité.
Les principaux termes contractuels ont été divulgués : M. Nelson recevra un salaire annuel de base de 1,3 million de dollars, un bonus annuel cible équivalent à 160 % du salaire de base, ainsi que des attributions d’actions pour 2026 d’une valeur de 10,345 millions de dollars. Une attribution unique d’actions complémentaire de 1,686 million de dollars sera accordée après la transition (25 % RSU, 25 % options, 50 % PSU). La protection en cas de licenciement sans cause ou pour motif légitime correspond à 2 fois le salaire plus le bonus cible et jusqu’à deux ans d’avantages.
M. Allan, en tant que président exécutif, percevra un salaire de 1,1 million de dollars, un bonus cible de 150 % du salaire et des attributions d’actions pour 2026 d’une valeur de 6 millions de dollars (50 % RSU / 50 % options). Il conserve les avantages sociaux payés par l’entreprise jusqu’à l’âge de 65 ans.
Le dépôt précise également que, le 30 juin 2025, la société a publié des prévisions et des mises à jour de gestion via un communiqué de presse (Exhibit 99.1) et a clarifié que les informations fournies ne sont pas considérées comme « déposées » en vertu de l’Exchange Act.
Aucune transaction avec des parties liées ni relation familiale n’a été signalée. Les accords divulgués (Exhibits 10.1 & 10.2) contiennent des clauses habituelles de confidentialité, de non-concurrence et d’indemnisation.
Stanley Black & Decker, Inc. (NYSE: SWK) hat ein Formular 8-K eingereicht, um einen geplanten Führungswechsel mit Wirkung zum 1. Oktober 2025 bekannt zu geben. Der Vorstand hat Christopher J. Nelson, derzeit Chief Operating Officer und Präsident des Tools & Outdoor-Segments, zum nächsten Präsidenten und Chief Executive Officer sowie zum Direktor des Unternehmens ernannt. Der amtierende CEO Donald Allan Jr. wird bis zu seinem Ruhestand am 30. September 2026 als Executive Chairman fungieren und so eine einjährige Überlappungsphase zur Unterstützung der Kontinuität gewährleisten.
Wesentliche vertragliche Konditionen wurden offengelegt: Herr Nelson erhält ein jährliches Grundgehalt von 1,3 Millionen US-Dollar, einen Zielbonus von 160 % des Grundgehalts sowie Aktienzuteilungen für 2026 im Wert von 10,345 Millionen US-Dollar. Nach der Übergabe wird eine einmalige „Top-up“-Aktienzuteilung in Höhe von 1,686 Millionen US-Dollar gewährt (25 % RSUs, 25 % Optionen, 50 % PSUs). Kündigungsschutz umfasst das 2-fache Gehalt plus Zielbonus sowie bis zu zwei Jahre Leistungen bei einer Kündigung ohne Grund oder aus wichtigem Grund.
Herr Allan wird als Executive Chairman ein Gehalt von 1,1 Millionen US-Dollar, einen Zielbonus von 150 % des Gehalts sowie Aktienzuteilungen für 2026 im Wert von 6 Millionen US-Dollar (50 % RSUs / 50 % Optionen) erhalten. Er behält die vom Unternehmen bezahlten Sozialleistungen bis zum Alter von 65 Jahren.
Die Einreichung weist außerdem darauf hin, dass das Unternehmen am 30. Juni 2025 eine Prognose und Management-Updates per Pressemitteilung (Anlage 99.1) veröffentlicht hat und klarstellt, dass die bereitgestellten Informationen nicht als „eingereicht“ im Sinne des Exchange Act gelten.
Es wurden keine Transaktionen mit verbundenen Parteien oder familiäre Beziehungen gemeldet. Die offengelegten Vereinbarungen (Anlagen 10.1 & 10.2) enthalten übliche Vertraulichkeits-, Wettbewerbsverbots- und Entschädigungsklauseln.
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| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition |
On June 30, 2025, the Company issued a press release addressing, among other things, certain planning assumptions for the second quarter.
The information being furnished pursuant to Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liability of that section, and shall not be incorporated by reference into any other document filed under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 29, 2025, the Board of Directors (the “Board”) of Stanley Black & Decker, Inc. (the “Company”) appointed Christopher J. Nelson to serve as the President and Chief Executive Officer and as a member of the Board, effective as of October 1, 2025 (the “Transition Date”). Additionally, on June 29, 2025, the Board appointed Donald Allan, Jr. as Executive Chairman of the Board, also effective as of the Transition Date. Mr. Allan will continue to serve as President and Chief Executive Officer until the Transition Date.
Mr. Nelson, 55, has served as the Company’s Chief Operating Officer, Executive Vice President and President, Tools & Outdoor since June 2023. Prior to joining the Company, Mr. Nelson held various roles at Carrier Global Corporation, including as President, HVAC from 2020 to 2023, as President, Commercial HVAC from 2018 to 2020 and as President, North America HVAC, from 2012 to 2018. In addition, Mr. Nelson held leadership roles with the U.S. Army, Johnson & Johnson and McKinsey & Company. He has a bachelor’s degree from the University of Notre Dame and a master’s degree in business from Cornell University.
In connection with his appointment, the Company and Mr. Nelson entered into a letter agreement pursuant to which Mr. Nelson will receive (i) an annual base salary of $1,300,000, (ii) a target annual bonus of 160% of his base salary (pro-rated for the portion of the year following the Transition Date together with a pro-rated target bonus of 120% of his current base salary for the portion of the year preceding the Transition Date), and (iii) annual equity awards having a target grant date value of $10,345,000 for 2026. In addition, following the Transition Date, Mr. Nelson will receive top-up equity awards having a grant date value of $1,686,250, consisting 25% of restricted stock units, 25% of stock options and 50% of performance share units, in each case, subject to the same terms as the 2025 annual equity awards.
Mr. Nelson’s letter agreement also provides for the following severance benefits in the event of a termination without “Cause” or resignation with “Good Reason” (each as defined therein), subject to a release of claims: (i) a lump sum severance payment equal to two times the sum of his base salary and target annual bonus and (ii) up to two years of Company-provided health and other welfare benefits; however, if such termination would result in benefits under Mr. Nelson’s Change in Control Severance Agreement, the terms of the Change in Control Severance Agreement will apply instead. Mr. Nelson’s letter agreement also contains customary restrictive covenants regarding confidentiality, non-competition and non-solicitation and indemnification rights to the fullest extent permitted by Connecticut laws and the Company’s certificate of incorporation and bylaws.
In connection with his transition to Executive Chairman, the Company and Mr. Allan entered into a letter agreement, pursuant to which he will serve as Executive Chairman until his retirement on September 30, 2026. As Executive Chairman, Mr. Allan is eligible to receive: (i) an annual base salary of $1,100,000, (ii) a target annual bonus of 150% of his base salary (pro-rated for the portion of the year following the Transition Date together with a pro-rated target bonus of 160% of his current base salary for the portion of the year preceding the Transition Date), and (iii) annual equity awards having a target grant date value of $6,000,000 for 2026, consisting 50% of restricted stock units and 50% of stock options. Following his retirement, Mr. Allan will continue to be provided with health and other welfare benefits until he reaches age 65. Mr. Allan’s letter agreement also contains indemnification rights to the fullest extent permitted by Connecticut laws and the Company’s certificate of incorporation and bylaws.
The foregoing summaries of the letter agreements do not purport to be complete and are qualified in their entirety by reference to the complete terms of the letter agreements filed as Exhibits 10.1 and 10.2 hereto, which are incorporated herein by reference.
Messrs. Nelson and Allan were not appointed pursuant to any arrangement or understanding between either of them and any other person. Neither Mr. Nelson nor Mr. Allan has any family relationships with any director or executive officer of the Company, and there are no transactions in which either Mr. Nelson or Mr. Allan has a direct or indirect material interest requiring disclosure under Item 404(a) of Regulation S-K.
| Item 7.01. | Regulation FD Disclosure. |
On June 30, 2025, the Company issued a press release announcing changes to its management team and Board described above. A copy of the press release is attached as Exhibit 99.1 hereto.
The information being furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise be subject to the liability of that section, and shall not be incorporated by reference into any other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1 | Letter Agreement, dated June 29, 2025, by and between Stanley Black & Decker, Inc. and Christopher J. Nelson | |
| 10.2 | Letter Agreement, dated June 29, 2025, by and between Stanley Black & Decker, Inc. and Donald Allan, Jr. | |
| 99.1 | Press Release dated June 30, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STANLEY BLACK & DECKER, INC. | ||||||
| Date: June 30, 2025 | ||||||
| By: | /s/ Janet M. Link | |||||
| Name: | Janet M. Link | |||||
| Title: | Senior Vice President, General Counsel and Secretary | |||||
FAQ
When will Christopher J. Nelson become CEO of Stanley Black & Decker (SWK)?
What salary and bonus will the incoming SWK CEO receive?
How long will current CEO Donald Allan Jr. remain with Stanley Black & Decker?
What severance protection does the new SWK CEO have?
Does the 8-K include any financial guidance for Q2 2025?
