Franklin Electric Co. Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits
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Consumer Discretionary
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): July 3, 2025
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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.
(b) On July 7, 2025, the Board of Directors of the Company appointed Jennifer Wolfenbarger as Vice President, Chief Financial Officer and Chief Accounting Officer of the Company, following the departure of the Company’s prior Chief Financial Officer, as was previously announced. This appointment was announced internally on July 3, 2025, and a press release announcing the appointment was issued on July 7, 2025.
Ms. Wolfenbarger succeeds Russell Fleeger, who has served as interim Chief Financial Officer since March 28, 2025.
In connection with Ms. Wolfenbarger’s appointment, she will receive an annual base salary of $500,000 and an annual target bonus opportunity equal to 75% of her base salary, which will be prorated for 2025. In addition, Ms. Wolfenbarger will receive: (i) a signing bonus of $75,000, and (ii) an equity grant award with an estimated target total value of $1,100,000, fifty-five percent (55%) of which will be subject to a one (1) year cliff vesting period and forty-five percent (45%) of which will be subject to a two (2) year cliff vesting period. The equity award will be subject to the vesting schedules and terms and conditions contained in their respective grant agreements. The equity award will be issued on the first business day on which the Company’s trading window next opens, in accordance with the Company’s equity grant practices. Ms. Wolfenbarger will also receive assistance in her relocation to the Fort Wayne area.
There are no family relationships between Ms. Wolfenbarger and any director or executive officer of the Company, and she is not a party to any transaction in which the Company is a participant.
Item 7.01. Regulation FD Disclosure
A copy of the press release announcing this leadership transition is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
| Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |||||||
| 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL | |||||||
SIGNATURE
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.
FRANKLIN ELECTRIC CO., INC.
(Registrant)
Date: July 10, 2025 | By | /s/ Jennifer A. Wolfenbarger | |||||||||
| Jennifer A. Wolfenbarger | |||||||||||
| Vice President, Chief Financial Officer | |||||||||||
| (Principal Financial and Accounting Officer) | |||||||||||