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CURRENT REPORT
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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 February 26, 2025, the Board of Directors of Masco Corporation (the “Company”) elected Heath M. Eisman, 50, as the Company’s Vice President, Controller and Chief Accounting Officer, effective February 27, 2025. Mr. Eisman previously served as the Company’s Director, Financial Reporting since 2014. Prior to joining the Company, Mr. Eisman was SEC Reporting and Technical Accounting Manager at Caterpillar Inc. and held various roles of increasing responsibility at PricewaterhouseCoopers over a 16-year period.
Mr. Eisman will receive an annual base salary of $310,000. He will be eligible to participate in the Company's discretionary annual performance program, under which he is eligible to earn a cash bonus. He will also be eligible to participate in the Company's Long Term Incentive Program, pursuant to which he is eligible to earn an equity award based on the Company's attainment of specified goals over three-year performance periods. His target opportunity under each of these programs is 40% of his annual base salary, and the payout or granting of awards under these programs, as applicable, is based on individual performance and the Company’s attainment of specified goals and is capped at 200% of the target opportunity. Mr. Eisman will also receive an annual restricted stock unit award equal in value to 40% of his annual base salary. Mr. Eisman is also eligible for other benefits available to our executives, as further described in our Proxy Statement dated April 1, 2024.
There are no understandings or arrangements between Mr. Eisman and any other person pursuant to which he was selected as an officer and there are no family relationships between Mr. Eisman and any director or executive officer of the Company. There are and have been no transactions since the beginning of the Company’s last fiscal year regarding Mr. Eisman that are required to be disclosed by Item 404(a) of Regulation S-K.
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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 thereunto duly authorized.
| MASCO CORPORATION | ||
| By: | /s/ Richard J. Westenberg | |
| Name: | Richard J. Westenberg | |
| Title: | Vice President, Chief Financial Officer and Treasurer | |
February 27, 2025
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