• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form 11-K filed by Lincoln Electric Holdings Inc.

    6/26/25 2:40:56 PM ET
    $LECO
    Industrial Machinery/Components
    Industrials
    Get the next $LECO alert in real time by email
    11-K 1 leco-20241231x11k.htm 11-K

    Table of Contents

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, D.C. 20549

    FORM 11-K

    FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    (Mark One)

    þ      ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    For the fiscal year ended December 31, 2024

    OR

    ☐      TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    For the transition period from _________________ to _____________________

    Commission file number   0-1402

    A.        Full title of the plan and the address of the plan, if different from that of the issuer named below:

    The Lincoln Electric Company

    Employee Savings Plan

    B.        Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

    Lincoln Electric Holdings, Inc.

    22801 St. Clair Avenue

    Cleveland, Ohio 44117

    ​

    ​


    Table of Contents

    FINANCIAL STATEMENTS AND SCHEDULE

    The Lincoln Electric Company Employee Savings Plan

    December 31, 2024 and 2023, and

    Year Ended December 31, 2024

    With Report of Independent Registered Public Accounting Firm

    Plan Sponsor and Administrator

    The Lincoln Electric Company

    Cleveland, Ohio  44117

    (216) 481-8100

    Plan Number:  005

    Employer Identification Number:  34-0359955

    ​

    ​


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Financial Statements and Schedule

    December 31, 2024 and 2023, and

    Year Ended December 31, 2024

    Contents

    Report of Independent Registered Public Accounting Firms

    1

    ​

    ​

    Financial Statements

    ​

    ​

    ​

    Statements of Net Assets Available for Benefits

    2

    Statement of Changes in Net Assets Available for Benefits

    3

    Notes to Financial Statements

    4

    ​

    ​

    Supplemental Schedules

    ​

    ​

    ​

    Form 5500, Schedule H, Line 4a — Schedule of Delinquent Contributions

    9

    ​

    Form 5500, Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

    10

    ​

    ​

    ​

    ​

    ​

    ​


    Table of Contents

    Report of Independent Registered Public Accounting Firm

    To the Participants and Administrator of

    The Lincoln Electric Company Employee Savings Plan
    Cleveland, Ohio

    Opinion on the Financial Statements

    We have audited the accompanying Statements of Net Assets Available for Benefits of The Lincoln Electric Company Employee Savings Plan (the “Plan”) as of December 31, 2024 and 2023, the related Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

    Basis for Opinion

    These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

    We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

    Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provides a reasonable basis for our opinion.

    Supplemental Information

    The supplemental information in the accompanying schedule of assets (held at end of year) and Schedule of Delinquent Contributions as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    We have served as the Plan’s auditor since 2023.

    ​

    /s/ Bober, Markey, Fedorovich & Company

    ​

    ​

    Cleveland, Ohio

    ​

    June 26, 2025

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    1


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Statements of Net Assets Available for Benefits

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    December 31,

     

    ​

        

    2024

        

    2023

    ​

    Assets

    ​

    ​

    ​

    ​

    ​

    Investments at fair value

    ​

    $

    1,090,942,959

    ​

    $

    1,009,871,945

    ​

    Receivables:

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Notes receivable from participants

    ​

    ​

    14,845,972

    ​

    ​

    13,522,803

    ​

    Employer contributions receivable

    ​

    ​

    7,555

    ​

    ​

    176,570

    ​

    Total receivables

    ​

    ​

    14,853,527

    ​

    ​

    13,699,373

    ​

    Total assets

    ​

    ​

    1,105,796,486

    ​

    ​

    1,023,571,318

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Net assets available for benefits

    ​

    $

    1,105,796,486

    ​

    $

    1,023,571,318

    ​

    ​

    See notes to these financial statements.

    ​

    2


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Statement of Changes in Net Assets Available for Benefits

    Year ended December 31, 2024

    ​

    Additions

        

    ​

     

    Interest and dividends

    ​

    $

    19,220,545

    ​

    Interest on notes receivable from participants

    ​

    ​

    1,125,302

    ​

    Contributions:

    ​

    ​

    ​

    ​

    Participants

    ​

    ​

    40,324,493

    ​

    Employer

    ​

    ​

    13,709,604

    ​

    Net appreciation in fair value of investments

    ​

    ​

    90,765,056

    ​

    Total additions

    ​

    ​

    165,145,000

    ​

    ​

    ​

    ​

    ​

    ​

    Deductions

    ​

    ​

    ​

    ​

    Participant withdrawals

    ​

    ​

    116,627,570

    ​

    Administrative expenses

    ​

    ​

    237,500

    ​

    Total deductions

    ​

    ​

    116,865,070

    ​

    ​

    ​

    ​

    ​

    ​

    Net increase in net assets prior to transfers from other qualified plans

    ​

    ​

    48,279,930

    ​

    ​

    ​

    ​

    ​

    ​

    Transfers from other qualified plans

    ​

    ​

    33,945,238

    ​

    ​

    ​

    ​

    ​

    ​

    Net increase

    ​

    ​

    82,225,168

    ​

    ​

    ​

    ​

    ​

    ​

    Net assets available for benefits at beginning of year

    ​

    ​

    1,023,571,318

    ​

    Net assets available for benefits at end of year

    ​

    $

    1,105,796,486

    ​

    ​

    See notes to these financial statements.

    ​

    3


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Notes to Financial Statements

    Note 1 — Description of Plan

    The following description of The Lincoln Electric Company Employee Savings Plan, (“the Plan”), provides only general information. Participants should refer to the Plan document for a complete description of the Plan’s provisions.

    General

    The Plan is a defined contribution plan covering certain employees of The Lincoln Electric Company and certain related entities (“the Company”), as defined by the Plan. The Plan provides that regular, full-time employees are eligible to make participant contributions immediately and all other eligible employees after completion of 1,000 hours in any year of service with the Company. Such employees will be eligible for Company contributions following six months of regular, full-time employment or 1,000 hours in any year of service with the Company. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

    Effective January 1, 2022, the Company amended the Plan to receive residual assets from The Lincoln Electric Company Retirement Annuity Program (“RAP”), a frozen defined benefit plan of the Company, which was terminated effective as of the close of business on December 31, 2020. The residual assets from the RAP (following satisfaction of all RAP benefit liabilities) were deposited into a suspense account under the Plan in 2022 and will be used to fund certain employer contributions beginning in the 2022 Plan year and ending no later than the 2028 Plan year. The suspense account balance as of January 1, 2024 was $39,914,971. During 2024, $16,433,819 from the suspense account was used to fund employer contributions, and the balance in the suspense account as of December 31, 2024 was $23,481,152.

    In January 2024, the Fori Automation, Inc. Profit Sharing Trust & 401(k) Plan was merged into the Plan and was terminated. Total assets transferred to the Plan were $33,945,238 and are reflected in the Statement of Changes in Net Assets Available for Benefits as Transfers from other qualified plans.

    On December 31, 2024, the RedViking 401(k) Profit Sharing Plan was merged into the Plan and terminated, the assets were not transferred until 2025.

    Contributions and Vesting

    Participant Contributions

    Each year, participants may make pre-tax and after-tax Roth contributions to the Plan of 1% to 80% (in whole percentages) of their base pay and/or bonus pay up to the maximum amount as set by the Internal Revenue Service ("IRS") ($23,000 for 2024). Participants who are at least 50 years old by the end of the Plan year are allowed to make catch-up contributions for that year (up to an additional $7,500 for 2024). Participants are immediately vested in their contributions plus actual earnings thereon. Participants have the right to direct Fidelity Management Trust Company (“the Trustee”) to invest their contributions to the Plan in any of the investment funds available under the Plan in 1% increments or to invest contributions in a self-directed brokerage account. Eligible employees of The Lincoln Electric Company who become eligible participants in the Plan will be automatically enrolled in the Plan unless action is taken by the employee to elect not to contribute to the Plan. Participants enrolled under this approach will have 4% of their base salary contributed to the Plan.

    The Plan is subject to certain non-discrimination standards under Section 401(k) of the Internal Revenue Code (“IRC”). In order to comply with these standards, tests are performed to provide a limit on the amount of benefits provided to highly compensated employees. As a result, certain participants who are defined as highly compensated employees may have a portion of their contributions refunded to them after the end of the Plan year and are recorded as Corrective distributions payable in the Statements of Net Assets available for Benefits.

    4

    ​


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Notes to Financial Statements (continued)

    Company Contributions

    In general, participants may receive up to 6% of their annual compensation, which is defined as base pay and bonus compensation, in Company contributions through:

    (1)Company matching contributions of 100% of the first 3% of participant compensation contributed to the Plan; and
    (2)Automatic Company contributions equal to 3% of annual compensation.

    In addition, certain employees who were participants in the Company’s RAP receive employer contributions equal to 6% of annual compensation for a minimum of five years or to the end of the year in which they complete 30 years of service. In general, Company contributions are 100% vested when made. A small percentage of participants (from acquired companies) have different Company contribution and vesting provisions applicable to them, as described in the Plan.

    Participant Accounts

    Each participant’s account is credited with the participant’s contributions and allocations of (a) the Company’s contributions and (b) Plan earnings. Forfeited balances of terminated participants’ nonvested accounts are used to reduce future Company contributions to the Plan or to pay Plan expenses. The benefit to which a participant is entitled is the amount credited to the participant’s account.

    Participant Loans

    Active participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loan terms range from one to five years, or up to 15 years for the purchase of a primary residence. The loans are secured by the balance in the participant’s account and bear interest at a rate computed as the prime rate in effect at the loan origination date plus 1%, as determined by the Company. Principal and interest are paid ratably through payroll deductions.

    Payment of Benefits

    Participants may receive the value of their account in a single lump sum payment or in ten or fewer annual installment payments following separation from the Company, whether by retirement, disability or otherwise, except that if the full value of a participant’s account is $1,000 or less or if the participant dies while in service and his/her account is payable to his/her beneficiary, such account balance will be paid in a single lump sum payment. Participants who leave the Company may withdraw their money at any time. Withdrawals must begin no later than April 1 of the calendar year following the calendar year in which the applicable age for receiving IRS required minimum distributions is attained or the calendar year in which the participant’s employment is terminated, if later. Participants or their beneficiaries may elect to receive the portion of their distributions which are attributable to common shares of Lincoln Electric Holdings, Inc. allocated to their account in the form of whole shares with any fractional shares paid in cash or all in cash. During employment, participants may withdraw certain amounts from their accounts if they are over age 59 ½, disabled or have a financial hardship and may withdraw rollover contributions at any time.

    Plan Termination

    The Company has the right to amend, modify, suspend or terminate the Plan, subject to the provisions of ERISA, at any time. Upon termination of the Plan, the rights to benefits accrued by participants or their beneficiaries, to the extent that such benefits are funded or credited to participants’ accounts, shall be nonforfeitable. No amendment, modification, suspension or termination of the Plan shall have the effect of providing that any amounts then held under the Plan may be used or diverted to any purpose other than for the exclusive benefit of the participants or their beneficiaries.

    ​

    5


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Notes to Financial Statements (continued)

    Note 2 — Summary of Significant Accounting Policies

    Basis of Accounting

    The financial statements of the Plan are prepared under the accrual method of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

    Investment Valuation and Income Recognition

    The Plan’s investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The valuation methodologies used for the investment assets measured at fair value are as follows:

    Units of registered investment companies (“mutual funds”): Valued at quoted market prices in active markets, which represent the net asset values of the units held by the Plan on the last business day of the Plan year.

    Self-directed brokerage account: Consists primarily of the following: (1) common stocks and bonds, which are valued at the closing price reported on the active market on which the individual securities are traded; and (2) mutual funds, which are valued at quoted market prices, which represent the net asset values of the units held by the Plan on the last business day of the Plan year.

    Lincoln Electric Stock: Consists of common shares of Lincoln Electric Holdings, Inc., which is determined based on the quoted market price as of year-end.

    Common/collective trusts: Valued at net asset value ("NAV") per share or its equivalent of the funds, which are based on the fair value of the funds underlying assets. There are no redemption restrictions or unfunded commitments on these investments.

    The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

    Purchases and sales of securities are recorded on a trade-date basis. Open trades of Lincoln Electric Holdings, Inc. common shares that have not settled are reflected in the Statements of Net Assets Available for Benefits as either an Other receivable or Other liability. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held throughout the year. See Note 6 for additional disclosures relative to the fair value of the investments held in the Plan.

    Benefit Payments

    Benefits are recorded by the Plan when paid.

    Use of Estimates

    The preparation of financial statements in conformity with GAAP requires management to make estimates that affect amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

    Notes Receivable from Participants

    Notes receivable from participants represent participant loans that are recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded when it is earned. If a participant ceases to make loan

    6


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Notes to Financial Statements (continued)

    repayments and the loan is deemed to be a distribution, the participant loan balance is reduced and a benefit payment is recorded.

    Administrative Expenses

    All direct costs and expenses incurred in connection with the administration of the Plan and trust were primarily paid by the Company in 2024.

    ​

    Note 3 — Income Tax Status

    The Plan received a determination letter from the IRS dated March 10, 2017, stating that the Plan is qualified under Section 401(a) of the IRC, and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the IRS, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan Administrator believes the Plan, as amended, is qualified and the related trust is tax exempt. Accordingly, no provision for income taxes has been made in the accompanying statements. The Plan Administrator believes the Plan is no longer subject to income tax examinations for years prior to 2019.

    ​

    Note 4 — Transactions with Parties-in-Interest

    At December 31, 2024, the Plan held 792,127 common shares of Lincoln Electric Holdings, Inc. with a fair value of $148,524,969. For the year ended December 31, 2024, transactions involving common shares of Lincoln Electric Holdings, Inc. included purchases and sales of approximately $4,995,835 and $16,858,978, respectively, and the Plan received dividends of $2,198,763. At December 31, 2023, the Plan held 846,329 common shares of Lincoln Electric Holdings, Inc. with a fair value of $184,064,032.

    Party-in-interest transactions also include the investment in the proprietary funds of the Trustee and the payment of administrative expenses by the Company. Such transactions are exempt from being prohibited transactions under ERISA.

    ​

    Note 5 — Risks and Uncertainties

    The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

    The Plan’s investments in Lincoln Electric Holdings, Inc. common shares are exposed to market risk in the event of a decline in the value of Lincoln Electric Holdings, Inc. common shares. Participants assume all risk in connection with any decrease in the market price of any investment.

    ​

    Note 6 — Fair Value Measurements

    Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

    7


    Table of Contents

    The Lincoln Electric Company

    Employee Savings Plan

    Notes to Financial Statements (continued)

    The three levels of the fair value hierarchy are described below:

    Level 1Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.

    Level 2Inputs to the valuation methodology include:

    ●Quoted prices for similar assets or liabilities in active markets;
    ●Quoted prices for identical or similar assets or liabilities in inactive markets;
    ●Inputs other than quoted prices that are observable for the asset or liability; and
    ●Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

    If the asset or liability has a specific (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

    Level 3Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

    The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs.

    The following tables set forth by level within the fair value hierarchy the Plan’s investments at fair value as of December 31, 2024 and 2023:

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Assets at Fair Value as of December 31, 2024

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Level 1

    ​

    Level 2

    ​

    Level 3

    ​

    Total

    Mutual funds

    ​

    $

    374,537,747

    ​

    $

    -

    ​

    $

    -

    ​

    $

    374,537,747

    Self-directed brokerage accounts

    ​

    ​

    37,217,171

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    37,217,171

    Lincoln Electric Stock

    ​

    ​

    148,524,969

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    148,524,969

    Total investments in the fair value hierarchy

    ​

    ​

    560,279,887

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    560,279,887

    Common/collective trusts measured at NAV

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    530,663,072

    Total investments at fair value

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    $

    1,090,942,959

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Assets at Fair Value as of December 31, 2023

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    Level 1

    ​

    Level 2

    ​

    Level 3

    ​

    Total

    Mutual funds

    ​

    $

    344,282,572

    ​

    $

    -

    ​

    $

    -

    ​

    $

    344,282,572

    Self-directed brokerage accounts

    ​

    ​

    31,430,105

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    31,430,105

    Lincoln Electric Stock

    ​

    ​

    184,064,032

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    184,064,032

    Total investments in the fair value hierarchy

    ​

    ​

    559,776,709

    ​

    ​

    -

    ​

    ​

    -

    ​

    ​

    559,776,709

    Common/collective trusts measured at NAV

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    450,095,236

    Total investments at fair value

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    $

    1,009,871,945

    ​

    ​

    ​

    Note 7 — Late Participant Contributions

    During 2024, the Company failed to remit $346,501 of participant contributions to the Plan on a timely basis. The late remittances and related lost earnings for the year were remitted during 2024.

    ​

    8


    Table of Contents

    ​

    ​

    ​

    The Lincoln Electric Company

    Employee Savings Plan

    EIN:  34-0359955          Plan Number:  005

    Form 5500, Schedule H, Line 4a—Schedule of Delinquent Participant Contributions

    ​

    ​

    ​

    Participant Contributions Transferred Late to the Plan

    Total that Constitutes Nonexempt Prohibited Transactions

    Total Fully Corrected Under Voluntary Fiduciary Correction Program and Prohibited Transaction Exemption 2002-51

    Check Here if Late Participant Loan Repayments are Included:

    Contributions Not Corrected

    Contributions Corrected Outside Voluntary Fiduciary Correction Program

    Contributions Pending Correction in Voluntary Fiduciary Correction Program

    ​

    $ -

    $ 346,501

    $ -

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    ​

    9

    ​


    Table of Contents

    The Lincoln Electric Company 

    Employee Savings Plan

     EIN:  34-0359955          Plan Number:  005

    Form 5500, Schedule H, Line 4i—Schedule of Assets

    (Held at End of Year)

    December 31, 2024

    ​

    ​

    ​

    ​

    ​

    ​

    Identity of Issuer, Borrower,
    Lessor or Similar Party

    Description of Investment Including
    Maturity Date, Rate of Interest,
    Collateral, Par or Maturity Value

    Cost

    Current Value

    Common/Collective Trusts:

    ​

    ​

    ​

    ​

    *Fidelity

    T. Rowe Price Blue Chip Growth Trust T2

    **

    $

    129,997,020

    Vanguard

    Vanguard Retirement Savings Trust IV

    **

    ​

    48,439,424

    *Fidelity

    FIAM Core Plus Commingled Pool Class J

    **

    ​

    34,296,229

    *Fidelity

    Managed Income Portfolio CL 2

    **

    ​

    3,219

    *Fidelity

    Vanguard Target Retirement 2020 Trust II

    **

    ​

    7,067,322

    *Fidelity

    Vanguard Target Retirement 2025 Trust II

    **

    ​

    40,448,862

    *Fidelity

    Vanguard Target Retirement 2030 Trust II

    **

    ​

    48,495,101

    *Fidelity

    Vanguard Target Retirement 2035 Trust II

    **

    ​

    43,253,176

    *Fidelity

    Vanguard Target Retirement 2040 Trust II

    **

    ​

    38,987,161

    *Fidelity

    Vanguard Target Retirement 2045 Trust II

    **

    ​

    33,406,111

    *Fidelity

    Vanguard Target Retirement 2050 Trust II

    **

    ​

    37,484,666

    *Fidelity

    Vanguard Target Retirement 2055 Trust II

    **

    ​

    33,892,297

    *Fidelity

    Vanguard Target Retirement 2060 Trust II

    **

    ​

    21,473,625

    *Fidelity

    Vanguard Target Retirement 2065 Trust II

    **

    ​

    6,240,336

    *Fidelity

    Vanguard Target Retirement 2070 Trust II

    **

    ​

    784,964

    *Fidelity

    Vanguard Institutional Target Retirement Inc

    **

    ​

    6,393,559

    ​

    ​

    ​

    ​

    530,663,072

    Registered investment companies:

    ​

    ​

    ​

    ​

    *Fidelity

    Fidelity Equity Index Fund

    **

    $

    113,960,596

    *Fidelity

    Fidelity Large Cap Growth Index Fund

    **

    ​

    5,197,534

    *Fidelity

    Fidelity Large Cap Value Index Fund

    **

    ​

    2,453,753

    *Fidelity

    American Washington Mutual Fund

    **

    ​

    33,056,947

    *Fidelity

    Fidelity Mid Cap Growth Index Fund

    **

    ​

    28,529,503

    *Fidelity

    Vanguard Mid-Cap Value Index Fund Admiral Shares

    **

    ​

    24,955,106

    *Fidelity

    Vanguard Small-Cap Index Institutional

    **

    ​

    34,204,585

    *Fidelity

    Fidelity Extended Market Index

    **

    ​

    12,545,243

    *Fidelity

    Fidelity Diversified International

    **

    ​

    19,899,095

    *Fidelity

    Vanguard Tot Intl

    **

    ​

    15,115,614

    *Fidelity

    American EuroPacific Growth Fund

    **

    ​

    14,288,731

    *Fidelity

    Dodge & Cox Balanced Fund

    **

    ​

    37,502,738

    *Fidelity

    TCW MetWest Low Duration Bond Fund Class I

    **

    ​

    23,174,923

    *Fidelity

    Vanguard Treasury Money Market Fund Investor Shares

    **

    ​

    9,028,039

    *Fidelity

    Fidelity Money Market Government Portfolio Class I

    **

    ​

    625,172

    *Fidelity

    Fidelity Money MarketGovernment Fund Class K6

    **

    ​

    168

    ​

    ​

    ​

    ​

    374,537,747

    ​

    ​

    ​

    ​

    ​

    *Fidelity BrokerageLink

    Self-directed brokerage accounts

    **

    ​

    37,217,171

    *Lincoln Electric Stock

    792,127 Common Shares

    **

    ​

    148,524,969

    *Participant loans

    Loans bearing interest at rates ranging from 3.25% to 10.5%

    ​

    ​

    14,845,972

    Total assets

    ​

    ​

    $

    1,105,788,931

    * Denotes party-in-interest

    ​

    ​

    ​

    ​

    ** Cost information is omitted due to transactions being participant directed.

    ​

    ​

    ​

    10


    Table of Contents

    ​

    ​

    ​

    ​

    ​

    SIGNATURE

    ​

    Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

    ​

    ​

    ​

    The Lincoln Electric Company

    ​

    ​

    Employee Savings Plan

    ​

    ​

    ​

    ​

    By:

    The Lincoln Electric Company,

    ​

    ​

    Plan Administrator

    ​

    ​

    ​

    ​

    By:

    /s/ Gabriel Bruno

    ​

    ​

    Gabriel Bruno

    ​

    ​

    Executive Vice President, Chief Financial Officer and

    ​

    ​

    Treasurer

    ​

    ​

    ​

    ​

    ​

    Date: June 26, 2025

    ​

    ​

    ​

    ​

    ​

    ​

    11


    Table of Contents

    Exhibits

    ​

    ​

    ​

    ​

    Exhibit No.

          

    Description

    ​

    ​

    ​

    23.1

    ​

    Consent of Bober, Markey, Fedorovich, Independent Registered Public Accounting Firm

    ​

    12


    Get the next $LECO alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $LECO

    DatePrice TargetRatingAnalyst
    1/8/2024$178.00Underweight
    Morgan Stanley
    10/31/2023$210.00Neutral → Buy
    Seaport Research Partners
    9/27/2023$170.00Sell
    UBS
    7/21/2023Outperform → Perform
    Oppenheimer
    6/28/2023$232.00Sector Weight → Overweight
    KeyBanc Capital Markets
    5/16/2023Neutral
    CL King
    2/11/2022$141.00 → $143.00Equal-Weight
    Morgan Stanley
    1/6/2022$170.00Buy
    Loop Capital
    More analyst ratings

    $LECO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Lincoln Electric to Ring the Nasdaq Opening Bell on June 10, 2025

      Event Honors the Company's 30th Year Listed on the NASDAQ and its 130th Anniversary Lincoln Electric Holdings, Inc. (NASDAQ:LECO) ("the Company"), the leading global manufacturer of advanced arc welding solutions, announced today that the Company will ring the Nasdaq Stock Market opening bell on Tuesday, June 10, 2025, which will begin at approximately 9:15am ET. Chair, President and CEO, Steven B. Hedlund, along with members of the Company's Board of Directors and its leadership team, will participate in the ceremonial bell ringing at the Nasdaq MarketSite in Times Square. The event recognizes the Company's 30th anniversary listed on the NASDAQ and marks the Company's 130 years of inno

      6/10/25 7:30:00 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • Lincoln Electric Reports First Quarter 2025 Results

      First Quarter 2025 Highlights Net sales of $1,004 million Operating income margin of 16.4%; Adjusted operating income margin of 16.9% EPS of $2.10; Adjusted EPS of $2.16 Record first quarter cash flows from operations of $186 million and 130% cash conversion Returned $150 million to shareholders through dividends and share repurchases Lincoln Electric Holdings, Inc. (the "Company") (NASDAQ:LECO) today reported first quarter 2025 net income of $118.5 million, or diluted earnings per share (EPS) of $2.10, which included special item after-tax net charges of $3.4 million, or $0.06 EPS. This compares with prior year period net income of $123.4 million, or $2.14 EPS, which included s

      4/30/25 7:30:00 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • Lincoln Electric to Present at the Oppenheimer 20th Annual Industrial Growth Conference

      Lincoln Electric Holdings, Inc. (NASDAQ:LECO) today announced that Gabriel Bruno, Executive Vice President and Chief Financial Officer, will speak at the Oppenheimer 20th Annual Industrial Growth Conference being held virtually on Wednesday, May 7, 2025, at 2:15pm Eastern Time. The presentation will be webcast and can be accessed on our Investor Relations web site at https://ir.lincolnelectric.com. A replay will also be accessible on our Investor Relations web site. About Lincoln Electric Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipme

      4/28/25 4:30:00 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Morgan Stanley initiated coverage on Lincoln Electric with a new price target

      Morgan Stanley initiated coverage of Lincoln Electric with a rating of Underweight and set a new price target of $178.00

      1/8/24 8:08:40 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • Lincoln Electric upgraded by Seaport Research Partners with a new price target

      Seaport Research Partners upgraded Lincoln Electric from Neutral to Buy and set a new price target of $210.00

      10/31/23 6:48:08 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • UBS initiated coverage on Lincoln Electric with a new price target

      UBS initiated coverage of Lincoln Electric with a rating of Sell and set a new price target of $170.00

      9/27/23 7:50:20 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    Financials

    Live finance-specific insights

    See more
    • Lincoln Electric Reports First Quarter 2025 Results

      First Quarter 2025 Highlights Net sales of $1,004 million Operating income margin of 16.4%; Adjusted operating income margin of 16.9% EPS of $2.10; Adjusted EPS of $2.16 Record first quarter cash flows from operations of $186 million and 130% cash conversion Returned $150 million to shareholders through dividends and share repurchases Lincoln Electric Holdings, Inc. (the "Company") (NASDAQ:LECO) today reported first quarter 2025 net income of $118.5 million, or diluted earnings per share (EPS) of $2.10, which included special item after-tax net charges of $3.4 million, or $0.06 EPS. This compares with prior year period net income of $123.4 million, or $2.14 EPS, which included s

      4/30/25 7:30:00 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • Lincoln Electric Board Declares Dividend

      Lincoln Electric Holdings, Inc., (NASDAQ:LECO) announced today that its Board of Directors has declared a quarterly cash dividend of $0.75 per common share, payable July 15, 2025, to shareholders of record as of June 30, 2025. Business Lincoln Electric is the world leader in the engineering, design, and manufacturing of advanced arc welding solutions, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment, and has a leading global position in brazing and soldering alloys. Lincoln is recognized as the Welding Expert™ for its leading materials science, software development, automation engineering, and application expertise, which advance customers' fabricatio

      4/23/25 4:30:00 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • Lincoln Electric Schedules Webcast for First Quarter 2025 Results

      Lincoln Electric Holdings, Inc., (the "Company") (NASDAQ:LECO) announced today that it will release its first quarter 2025 results on Wednesday, April 30, 2025, prior to market open. An investor conference call and webcast will take place at 10:00 a.m. (ET) later that day. The event is available via webcast in listen-only mode and can be accessed here or on the Company's Investor Relations home page at https://ir.lincolnelectric.com. To participate via telephone, please dial (888) 440-4368 (domestic) or (646) 960-0856 (international) and use confirmation code 6709091. Telephone participants are asked to connect 10 minutes prior to the start of the conference call. A replay of the earnings

      4/8/25 7:30:00 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Lincoln Electric Holdings Inc. (Amendment)

      SC 13G/A - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Subject)

      3/11/24 9:59:08 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • SEC Form SC 13G/A filed by Lincoln Electric Holdings Inc. (Amendment)

      SC 13G/A - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Subject)

      2/13/24 5:08:04 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • SEC Form SC 13G/A filed by Lincoln Electric Holdings Inc. (Amendment)

      SC 13G/A - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Subject)

      2/9/23 11:25:10 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    SEC Filings

    See more
    • SEC Form 11-K filed by Lincoln Electric Holdings Inc.

      11-K - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Filer)

      6/26/25 2:40:56 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • SEC Form SD filed by Lincoln Electric Holdings Inc.

      SD - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Filer)

      5/29/25 10:02:47 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • SEC Form 10-Q filed by Lincoln Electric Holdings Inc.

      10-Q - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Filer)

      4/30/25 7:37:28 AM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • EVP, CDIO Dietrich Lisa covered exercise/tax liability with 204 shares, decreasing direct ownership by 6% to 2,938 units (SEC Form 4)

      4 - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Issuer)

      5/13/25 4:30:11 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • CHAIR, PRESIDENT & CEO Hedlund Steven B covered exercise/tax liability with 835 shares, decreasing direct ownership by 1% to 56,282 units (SEC Form 4)

      4 - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Issuer)

      5/13/25 4:30:13 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • SVP, PRES HARRIS AND ASIA PAC Doria Gregory was granted 549 shares, increasing direct ownership by 13% to 4,673 units (SEC Form 4)

      4 - LINCOLN ELECTRIC HOLDINGS INC (0000059527) (Issuer)

      5/5/25 4:30:06 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials

    $LECO
    Leadership Updates

    Live Leadership Updates

    See more
    • Lincoln Electric Announces Retirement of Michele Kuhrt, Executive Vice President and Chief Transformation Officer

      Lincoln Electric Holdings, Inc. (the "Company") (NASDAQ:LECO) announced today that Michele Kuhrt, Executive Vice President, Chief Transformation Officer is retiring effective August 31, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250224575246/en/Michele Kuhrt, EVP & CTO, Lincoln Electric (Photo: Business Wire) Ms. Kuhrt joined Lincoln Electric in 1997 and over her nearly 30-year career at Lincoln Electric, has held numerous executive leadership positions, including Chief Information Officer and Chief Human Resources Officer. Since 2024, she has held the position as Executive Vice President, Chief Transformation Officer

      2/24/25 4:30:00 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials
    • RPM Announces Appointment of Three New Board Members

      RPM International Inc. (NYSE:RPM) today announced the appointment of three individuals, Craig S. Morford, Christopher L. Mapes and Julie A. Beck, to its board of directors. These appointments reflect RPM's ongoing commitment to expanding the expertise, diversity and leadership capabilities of its board as the company continues to drive long-term growth and shareholder value. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250113146614/en/Christopher L. Mapes (Photo: Business Wire) The appointments of Mr. Morford and Mr. Mapes are effective immediately, and Ms. Beck's term is set to commence on April 7, 2025. With these additions,

      1/13/25 4:45:00 PM ET
      $AOS
      $CAH
      $LECO
      $NDSN
      Consumer Electronics/Appliances
      Consumer Discretionary
      Other Pharmaceuticals
      Health Care
    • Lincoln Electric Announces Retirement of Executive Chair Christopher L. Mapes and Election of Steven B. Hedlund as Chair of the Board

      Lincoln Electric Holdings, Inc. (the "Company") (NASDAQ:LECO) today announced that Christopher L. Mapes, Executive Chair, will retire from his position as Executive Chair and a member of the Board of Directors on December 31, 2024. The Board of Directors has elected Steven B. Hedlund, currently Chief Executive Officer and a Director, to succeed Mr. Mapes as Chair of the Board, effective January 1, 2025. Mr. Hedlund will assume this position in addition to his role as President and Chief Executive Officer. "We thank Chris for his many years of service and congratulate him for leading Lincoln Electric to record performance and superior shareholders returns, while establishing the Company as

      10/10/24 4:30:00 PM ET
      $LECO
      Industrial Machinery/Components
      Industrials