Trane Technologies (TT) elevates Donny Simmons to Chief Operating Officer role
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Trane Technologies plc announced that its Board has appointed Donald (Donny) E. Simmons as Executive Vice President and Chief Operating Officer, effective July 1, 2026. He will oversee regional business units and operations to support the company’s growth strategy.
Under an offer letter dated June 5, 2026, Simmons will receive a base salary of $950,000, an Annual Incentive Matrix Program target equal to 100% of base salary, and an annual equity award target of $4,300,000. He will also receive a one-time long-term equity incentive grant of $400,000 in Restricted Stock Units and $400,000 in stock options, each vesting ratably over three years. Simmons is a 25-year company veteran who most recently served as Group President, Americas.
Positive
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Base salary: $950,000
Annual bonus target: 100% of base salary
Annual equity award target: $4,300,000
+4 more
7 metrics
Base salary
$950,000
Annual base salary for COO role as of July 1, 2026
Annual bonus target
100% of base salary
Annual Incentive Matrix Program target for Donny Simmons
Annual equity award target
$4,300,000
Target annual equity compensation opportunity for Simmons
One-time RSU grant
$400,000
Restricted Stock Units granted as of July 1, 2026, vest over three years
One-time stock option grant
$400,000
Stock options granted as of July 1, 2026, vest over three years
Effective date
July 1, 2026
Start date for Donny Simmons as EVP and COO
Executive age
55 years
Age of Donny E. Simmons at time of appointment
Key Terms
Executive Vice President and Chief Operating Officer, Annual Incentive Matrix Program, Restricted Stock Units, stock options, +2 more
6 terms
Executive Vice President and Chief Operating Officer financial
"appointed Donald E. Simmons, age 55, as Executive Vice President and Chief Operating Officer of the Company"
Annual Incentive Matrix Program financial
"his Annual Incentive Matrix Program target will be 100% and his annual equity award target opportunity"
Restricted Stock Units financial
"a one-time long-term equity incentive grant as of the Effective Date of $400,000 in Restricted Stock Units and $400,000 in stock options"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock options financial
"$400,000 in Restricted Stock Units and $400,000 in stock options, each of which will vest ratably over three years"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
Offer Letter financial
"the Company entered into an offer letter with Mr. Simmons (the “Offer Letter”)"
long-term equity incentive grant financial
"will receive a one-time long-term equity incentive grant as of the Effective Date"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________________________________
FORM 8-K
____________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) — 6/4/2026
____________________________________________
(Exact name of registrant as specified in its charter)
____________________________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
+(353 )(0)18707400
(Registrant’s phone number, including area code)
N/A
(Former name or former address, if changed since last report)
____________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
| Title of each class | Trading Symbol | 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2):
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. o
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On June 4, 2026, the Board of Directors of Trane Technologies plc (the “Company”) appointed Donald E. Simmons, age 55, as Executive Vice President and Chief Operating Officer of the Company effective as of July 1 2026 (the “Effective Date”). Mr. Simmons has served as Group President, Americas since January 2024. He previously served as Americas Segment Leader and CHVAC Americas President from January 2022 to December 2023 and President, CHVAC Americas from August 2017 to December 2021.
On June 5, 2026, the Company entered into an offer letter with Mr. Simmons (the “Offer Letter”). Pursuant to the Offer Letter, as of the Effective Date, Mr. Simmons will receive a base salary of $950,000, his Annual Incentive Matrix Program target will be 100% and his annual equity award target opportunity will be $4,300,000. In addition, Mr. Simmons will receive a one-time long-term equity incentive grant as of the Effective Date of $400,000 in Restricted Stock Units and $400,000 in stock options, each of which will vest ratably over three years.
Except as previously disclosed in the Company’s 2026 Proxy Statement filed with the Securities and Exchange Commission on April 23, 2026, Mr. Simmons has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The foregoing summary of Mr. Simmons’s compensation is qualified in its entirety by reference to the complete Offer Letter, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
| Item 7.01. | Regulation FD Disclosure | ||||
On June 10, 2026, the Company issued a press release announcing the appointment of Mr. Simmons as Chief Operating Officer of the Company. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. | ||||
| (d) | Exhibits: | ||||
| Exhibit No. | Description | |||||||||||||
| 10.1 | Donald Simmons Offer Letter dated June 5, 2026 | |||||||||||||
| 99.1 | June 10, 2026 press release regarding appointment of Donald Simmons as Chief Operating Officer | |||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||||||||
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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.
TRANE TECHNOLOGIES PLC (Registrant) | |||||||||||||||||||||||||||||
Date: | June 10, 2026 | /s/ Victoria Lazar | |||||||||||||||||||||||||||
Victoria Lazar, Senior Vice President, General Counsel and Secretary | |||||||||||||||||||||||||||||
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Media Contact: Investors Contact:
Travis Bullard Zachary Nagle
+1-919-802-2593 +1-704-990-3913
Media@tranetechnologies.com InvestorRelations@tranetechnologies.com
Trane Technologies Names Donny Simmons as Chief Operating Officer
Appointment aligns leadership structure with company’s increased scale and expanding market opportunities
SWORDS, Ireland – June 10, 2026 – Trane Technologies (NYSE: TT), a global climate innovator, today announced the appointment of Donny Simmons as Chief Operating Officer (COO), reporting to Chair and CEO Dave Regnery, effective July 1, 2026. In this expanded role, Simmons will oversee the company’s regional business units and operations, driving tighter business and operational alignment and accelerating execution of the company’s growth strategy.
Since launching as a pure-play climate innovation company in 2020, Trane Technologies has nearly doubled its annual revenue. Concurrently, the external landscape has rapidly evolved, with the global energy transition, advancements in climate innovation and the acceleration of artificial intelligence creating unprecedented market opportunities. By creating stronger alignment across its regional businesses and operations, Trane Technologies is positioned to capture these opportunities with greater speed and agility.
“Donny’s appointment is an important step in our growth journey,” said Dave Regnery, Chair and CEO of Trane Technologies. “By bringing our regional businesses and operations together under his leadership, we will foster deeper collaboration, strengthen our Business Operating System and accelerate execution of our strategy. Donny’s strategic leadership, deep understanding of our businesses and strong operational mindset make him uniquely positioned to drive our next phase of growth.”
Simmons is a 25-year veteran of the company with a proven track record of delivering consistent, profitable growth. Most recently, he served as Group President of the Americas region, overseeing a broad portfolio including commercial and residential HVAC, transport refrigeration and life science solutions.
Since joining the company in 2001, Simmons has led several of the company’s largest businesses, including Commercial HVAC North America and EMEA as well as several global industrial businesses. Simmons has extensive experience managing complex, global operations and brings a holistic perspective to the COO role, having held key leadership positions across general management, sales, manufacturing and finance.
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About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more on Trane Technologies, visit tranetechnologies.com.
FAQ
What leadership change did Trane Technologies (TT) announce in this 8-K?
Trane Technologies appointed Donny Simmons as Executive Vice President and Chief Operating Officer, effective July 1, 2026. He will oversee regional business units and operations, reporting to Chair and CEO Dave Regnery, to help drive tighter business alignment and execution of the company’s growth strategy.
What is Donny Simmons’ base salary and bonus target at Trane Technologies (TT)?
Under his offer letter, Donny Simmons will receive a base salary of $950,000. His Annual Incentive Matrix Program target is set at 100% of his base salary, aligning his annual cash incentive opportunity directly with company and individual performance objectives established by Trane Technologies.
What equity compensation will Donny Simmons receive as COO of Trane Technologies (TT)?
Simmons’ annual equity award target opportunity is $4,300,000. In addition, he will receive a one-time long-term equity grant of $400,000 in Restricted Stock Units and $400,000 in stock options, each vesting ratably over three years from the July 1, 2026 effective date.
When does Donny Simmons’ appointment as COO of Trane Technologies (TT) become effective?
Donny Simmons’ appointment as Executive Vice President and Chief Operating Officer becomes effective July 1, 2026. From that date, he will oversee the company’s regional business units and operations, focusing on tighter operational alignment and execution of Trane Technologies’ growth strategy worldwide.
What prior roles has Donny Simmons held at Trane Technologies (TT)?
Donny Simmons most recently served as Group President, Americas. Previously, he was Americas Segment Leader and CHVAC Americas President, and earlier President, CHVAC Americas. Since joining in 2001, he has led major commercial HVAC, transport refrigeration, life sciences, and global industrial businesses for Trane Technologies.