SEC Form 11-K filed by Masco Corporation

6/7/24 1:48:27 PM ET

$MAS

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11-K 1 mas_salaryx11kx2023.htm 11-K Document

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

For the fiscal year ended December 31, 2023

OR

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

For the transition period from _____________ to _____________


Commission file number 1-5794

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

Masco Corporation 401(k) Plan

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

Masco Corporation
17450 College Parkway
Livonia, Michigan 48152

MASCO CORPORATION 401(k) PLAN

TABLE OF CONTENTS


						Page No.

Report of Independent Registered Public Accounting Firm						3

Financial Statements:

Statements of Net Assets Available for Benefits at December 31, 2023 and 2022						4

Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2023						5

Notes to Financial Statements						6

Supplemental Schedule:



Schedule H, Line 4i - Schedule of Assets (Held at End of Year) at December 31, 2023						11


Note: Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Plan Administrator and Plan Participants

Masco Corporation 401(k) Plan

Opinion on the financial statements

We have audited the accompanying statements of net assets available for benefits of Masco Corporation 401(k) Plan (the “Plan”) as of December 31, 2023 and 2022, the related statement of changes in net assets available for benefits for the year ended December 31, 2023, 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, 2023 and 2022, and the changes in net assets available for benefits for the year ended December 31, 2023 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 audits. 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 audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

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 provide a reasonable basis for our opinion.

Supplemental information

The supplemental schedule of assets (held at end of year) as of December 31, 2023 (“supplemental information”) 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.

/s/ Grant Thornton LLP

We have served as the Plan’s auditor since 2013.

Southfield, Michigan

June 7, 2024

MASCO CORPORATION 401(k) PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

December 31, 2023 and 2022


	2023		2022
ASSETS

Investments, at fair value	$	1,470,888,199	$	1,249,654,496

Receivables:
Notes receivable from participants	25,801,710		22,736,114
Participant contributions	1,095,238		983,530
Employer contributions	36,122,769		13,432,488
Total receivables	63,019,717		37,152,132

Net assets available for benefits	$	1,533,907,916	$	1,286,806,628

The accompanying notes are an integral part of the financial statements.

MASCO CORPORATION 401(k) PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

For the year ended December 31, 2023


ADDITIONS

Investment income:
Net appreciation in fair value of investments	$	244,377,698
Interest and dividend income	15,871,599
Total investment income	260,249,297

Contributions:
Participant	52,724,852
Participant rollover	4,725,811
Employer	60,360,805
Total contributions	117,811,468

Interest income on notes receivable from participants	1,152,834

Total additions	379,213,599

DEDUCTIONS

Benefit payments	(131,460,649)
Other, net	(651,662)
Total deductions	(132,112,311)

Net increase in net assets available for benefits	247,101,288



Net assets available for benefits:

Beginning of year	1,286,806,628

End of year	$	1,533,907,916

The accompanying notes are an integral part of the financial statements.

MASCO CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

A.DESCRIPTION OF PLAN

The following description of the Masco Corporation ("Company" or "Employer") 401(k) Plan ("Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions.

1.General. The Plan is a defined contribution plan covering hourly and salaried employees at the Company and certain of its subsidiaries. Eligible employees may participate in the Plan upon their date of hire. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").

2.Contributions. Participants may contribute (on either a pre-tax or Roth after-tax basis) an amount up to 75 percent of their pre-tax eligible compensation, as defined in the Plan. All employees who are eligible to participate under this Plan and who have attained the age of 50 before the end of the plan year shall be eligible to make catch-up contributions. Participants may also make rollover contributions representing distributions from individual retirement accounts, simplified employee pension plans, 403(b) and 457 plans or other employers' tax-qualified plans. The Company makes matching and/or profit sharing employer contributions in accordance with the provisions of the Plan. These employer contributions, if applicable, vary by subsidiary and are invested pursuant to the participant's investment election. At December 31, 2023 and 2022, employer profit sharing contributions receivable totaled $34,881,203 and $11,759,606, respectively. Contributions are subject to certain Internal Revenue Service ("IRS") limitations. Participants may direct contributions in one percent increments in any of the various investment options. Participants may change their investment options daily.

3.Participant Accounts. Each active participant's account is credited with the participant's contributions and allocations of (a) employer contributions (if applicable), and (b) investment earnings (losses), as defined in the Plan. Plan administrative expenses are paid by the Company and not charged to participants' accounts. Certain expenses may be incurred by individual participants for special services relating to their accounts. These costs are charged directly to the individual participant's account. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

4.Vesting and Forfeited Employer Contributions. Participants are immediately vested in their contributions plus actual earnings thereon. Participants are also immediately vested in the Company matching contribution plus earnings thereon. Vesting in Company profit sharing contributions occurs after three years of service commencing at date of hire. At December 31, 2023 and 2022, forfeited nonvested accounts totaled $819,734 and $581,655, respectively. During 2023, employer contributions were reduced by $216,470 from forfeited nonvested accounts.

5.Voting Rights. Each participant who has an interest in the Masco Corporation Company Stock Fund is entitled to exercise voting rights attributable to the shares allocated to his or her Stock Fund account and is notified by the Trustee, Fidelity Management Trust Company ("Fidelity"), as defined by the Plan, prior to the time that such rights are to be exercised. If the Trustee does not receive timely instructions, the Trustee itself or by proxy shall vote all such shares in the same ratio as the shares with respect to which instructions were received from participants.

6.Notes Receivable from Participants. Generally, participants may borrow from their account a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their vested account balance at the time of the loan. Loan terms generally range from 1-5 years, or up to 15 years in limited circumstances. The loans are collateralized by the balance in the participant's account and generally bear interest at a rate equal to the Prime Rate on the last business day of the month prior to the date of the loan application. Principal and interest are generally paid ratably through payroll deductions.

7. Payment of Benefits. Generally, after separation from service due to termination, death, disability or retirement, a participant may elect to receive an amount equal to the value of the participant's vested interest in his or her account in a single lump-sum amount, or in various installment options pursuant to Plan provisions. In-service and hardship withdrawals are distributed in a single payment.

MASCO CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS, Continued

B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies in accordance with accounting principles generally accepted in the United States of America ("GAAP") followed in the preparation of these financial statements.

Basis of Accounting. The accompanying financial statements are prepared on the accrual basis of accounting.

Use of Estimates. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of additions and deductions during the reporting period. Actual results could differ from these estimates and assumptions.

Risks and Uncertainties. The Plan provides for various investment options in collective trust funds, mutual funds, a stock fund and other investment securities. Investment securities are exposed to various risks, including interest rate, market and credit risks. Due to the level of risk associated with certain collective trust funds, mutual funds, stock funds and other investment securities and the level of uncertainty related to changes in the value of investment securities, it is reasonably possible that changes in risks in the near term could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.

Investment Valuation and Income Recognition. Investments are stated at fair value. See Note C for a summary of the valuation method by type of investment.

Investment transactions are reflected on a trade-date basis. Interest income is recognized on the accrual basis of accounting. Dividend income is recorded on the ex-dividend date. Income from other securities is recorded as earned on an accrual basis.

The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments, which consists of the realized gains or losses and the unrealized appreciation (depreciation) of those investments.

Notes Receivable from Participants. Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. No allowance for credit losses has been recorded as of December 31, 2023 or 2022. Delinquent notes receivable from participants that had a distributable event are recorded as benefit payments based upon the terms of the Plan.

Payment of Benefits. Benefits are recorded when paid.

C. FAIR VALUE MEASUREMENTS

Accounting Policy. The Plan follows fair value guidance (ASC 820) that defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The guidance defines fair value 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." Further, it defines a fair value hierarchy, as follows: Level 1 inputs as quoted prices in active markets for identical assets or liabilities; Level 2 inputs as observable inputs other than Level 1 prices, such as quoted market prices for similar assets or liabilities or other inputs that are observable or can be corroborated by market data; and Level 3 inputs as unobservable inputs that are supported by little or no market activity and that are financial instruments whose value is determined using pricing models or instruments for which the determination of fair value requires significant management judgment or estimation.

MASCO CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS, Continued

C. FAIR VALUE MEASUREMENTS (Continued)

A description of the valuation methodologies used for assets measured at fair value is as follows:

Collective trust funds: Valued based on Net Asset Value ("NAV") of units held in the collective trust, which is used as a practical expedient to estimate fair value as of December 31, 2023 and 2022. The value is determined by reference to the respective fund’s underlying assets, with the exception of the Plan’s stable value collective trust investment where the collective trust’s contract value NAV represents fair value since this is the amount at which the Plan transacts with the collective trust.

Mutual funds: Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission ("SEC"). These funds are required to publish their daily NAV and transact at that price. The mutual funds held by the Plan are deemed to be actively traded.

Stock fund: Valued at the closing price as reported on the active market on which the security is traded.

Self-directed brokerage account: Participant-directed investments that primarily include common stocks, mutual funds, certificates of deposit ("CDs"), and cash. Common stocks are valued at the closing price as reported on the active market on which the individual securities are traded. Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the SEC. These funds are required to publish their daily NAV and transact at that price. The mutual funds held by the Plan are deemed to be actively traded. CDs are valued at amortized cost, which approximates fair value.

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.

The following tables set forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2023 and 2022.


	Assets at Fair Value as of December 31, 2023
	Level 1		Level 2		Level 3		Measured at NAV		Total
Collective trust funds	$	—	$	—	$	—	$	893,468,168	$	893,468,168
Mutual funds	494,649,887		—		—		—		494,649,887
Stock fund	31,336,023		—		—		—		31,336,023
Self-directed brokerage account	51,434,121		—		—		—		51,434,121
Total assets at fair value	$	577,420,031	$	—	$	—	$	893,468,168	$	1,470,888,199


	Assets at Fair Value as of December 31, 2022
	Level 1		Level 2		Level 3		Measured at NAV		Total
Collective trust funds	$	—	$	—	$	—	$	750,531,591	$	750,531,591
Mutual funds	433,618,197		—		—		—		433,618,197
Stock fund	22,333,325		—		—		—		22,333,325
Self-directed brokerage account	43,171,383		—		—		—		43,171,383
Total assets at fair value	$	499,122,905	$	—	$	—	$	750,531,591	$	1,249,654,496

MASCO CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS, Continued

C. FAIR VALUE MEASUREMENTS (Concluded)

The following table summarizes investments measured at fair value using the NAV per share practical expedient as of December 31, 2023 and 2022. Were the Plan to initiate a full redemption of the collective trust funds, the investment adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure the securities liquidations will be carried out in an orderly business manner.

Fair Value at December 31,

2023

2022

Unfunded Commitments

Redemption Frequency

Redemption Notice Period

Collective trust funds:

FIAM Small Capitalization Core Commingled Pool Class D

22,910,143

23,599,001

None

Daily

30 days

Fidelity® Diversified International Commingled Pool

30,132,887

28,549,454

None

Daily

30 days

Fidelity® Low-Priced Stock Commingled Pool

32,246,549

35,492,018

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2005 Commingled Pool Class X

1,257,961

1,566,635

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2010 Commingled Pool Class X

4,504,652

4,342,567

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2015 Commingled Pool Class X

6,131,386

6,649,427

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2020 Commingled Pool Class X

30,538,080

29,829,853

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2025 Commingled Pool Class X

61,300,741

55,601,598

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2030 Commingled Pool Class X

108,987,889

95,140,287

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2035 Commingled Pool Class X

85,349,237

70,304,787

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2040 Commingled Pool Class X

78,815,027

63,606,588

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2045 Commingled Pool Class X

74,356,981

60,913,447

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2050 Commingled Pool Class X

53,497,052

41,450,715

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2055 Commingled Pool Class X

32,149,589

23,925,656

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2060 Commingled Pool Class X

17,655,435

12,266,069

None

Daily

30 days

Fidelity® FRDM Blend Target Date 2065 Commingled Pool Class X

4,941,016

2,396,453

None

Daily

30 days

Fidelity® FRDM Blend Target Date Income Commingled Pool Class X

3,165,345

3,386,577

None

Daily

30 days

FIAM Core Plus Commingled Pool Class K

38,981,009

42,283,362

None

Daily

30 days

Harbor Capital Appreciation CIT Class 4

191,090,453

128,412,011

None

Daily

30 days

Managed Income Portfolio Class II

15,456,736

20,815,086

None

Daily

12 months

Total investments measured at NAV

893,468,168

750,531,591

D. INCOME TAX STATUS

The Plan is a non-standardized pre-approved plan and received an opinion letter dated June 30, 2020 stating that the Plan is designed in accordance with the applicable sections of the Internal Revenue Code ("Code"). The Plan has since been amended; however, the Plan Administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code. Therefore, no provision for income taxes has been included in the Plan's financial statements.

MASCO CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS, Concluded

D. INCOME TAX STATUS (Concluded)

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress.

E. PLAN TERMINATION

Although the Company has not expressed an intent to do so, the Company has the right at any time to discontinue its contributions and to terminate the Plan, subject to the provisions of ERISA. At the date of any such termination, all participants would become fully vested in their accounts and the Administrative Committee of the Plan shall direct the Trustee to distribute to the participants all assets of the Plan, net of any termination expenses.

F. RELATED PARTY AND PARTY-IN-INTEREST TRANSACTIONS

Certain Plan investments are in shares of collective trust funds and mutual funds managed by Fidelity or an affiliate thereof. Fidelity is also the Trustee as defined by the Plan and, therefore, these purchases and sales qualify as party-in-interest transactions. There were no fees paid by the Plan for investment management services for the year ended December 31, 2023. Notes receivable from participants are also considered party-in-interest transactions.

The Plan invests in a Masco Corporation Common Stock Fund. As of December 31, 2023 and 2022, the value of the Masco Corporation Common Stock Fund, which includes Masco Corporation Common Stock, was $31,336,023 and $22,333,325, respectively. For the year ended December 31, 2023, the Masco Corporation Common Stock Fund appreciated in value by $9,656,866 and earned dividend income of $540,982.

G. RECONCILIATION OF PLAN'S FINANCIAL STATEMENTS TO FORM 5500

Participant loans are shown net of deemed distributions on Form 5500. The following is a reconciliation of net assets per the financial statements to Form 5500:


	As of December 31,
	2023		2022
Net assets available for benefits per the financial statements	$	1,533,907,916	$	1,286,806,628
Less: Deemed distributions	471,265		503,788
Net assets per Form 5500	$	1,533,436,651	$	1,286,302,840

The following is a reconciliation of the net increase in net assets available for benefits per the financial statements to net income per Form 5500 for the year ended December 31, 2023:


	2023
Net increase in net assets available for benefits per the financial statements	$	247,101,288
Less: Change in deemed distributions	(32,523)
Net income per Form 5500	$	247,133,811

H. SUBSEQUENT EVENTS

The Plan Administrator has evaluated subsequent events through June 7, 2024, the date the financial statements were issued, and determined that no subsequent events have occurred requiring adjustments to the financial statements or disclosures.

MASCO CORPORATION 401(k) PLAN

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2023

EIN: 38-1794485

Plan Number: 033

(a)

(b)
Identity of Issue,
Borrower or
Similar Party

(c)
Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value and Number of Shares Outstanding

(d)

Cost

(e)
Current Value

Artisan Mid Cap Fund - Institutional Class

Mutual fund

1,261,685

52,473,493

JP Morgan Mid Cap Value Fund - Class L

Mutual fund

874,811

31,440,698

Vanguard Wellington Fund™ -

Mutual fund

Admiral™ Shares

550,413

39,299,473

Dodge & Cox Stock Fund - Class X

Mutual fund

258,293

62,909,773

Fidelity® Extended Market Index Fund

Mutual fund

181,503

14,168,157

Fidelity® Institutional Money Market

Mutual fund

Government Portfolio - Institutional Class

61,451,786

Fidelity® 500 Index Fund

Mutual fund

885,703

146,575,010

Fidelity® Emerging Markets Fund - Class K

Mutual fund

605,639

21,663,722

Fidelity® International Index Fund -

Mutual fund

Institutional Class

568,382

26,912,888

Fidelity® U.S. Bond Index Fund

Mutual fund

3,619,836

37,754,887

Managed Income Portfolio Class II

Collective trust fund

15,456,736

Harbor Capital Appreciation CIT Class 4

Collective trust fund

14,061,108

191,090,453

Fidelity® Diversified International

Collective trust fund

Commingled Pool

1,718,933

30,132,887

Fidelity® Low-Priced Stock

Collective trust fund

Commingled Pool

1,334,156

32,246,549

FIAM Small Capitalization Core

Collective trust fund

Commingled Pool Class D

123,999

22,910,143

Fidelity® FRDM Blend Target Date Income

Collective trust fund

Commingled Pool Class X

197,305

3,165,345

FIAM Core Plus

Collective trust fund

Commingled Pool Class K

1,767,846

38,981,009

Fidelity® FRDM Blend Target Date 2005

Collective trust fund

Commingled Pool Class X

71,575

1,257,961

Fidelity® FRDM Blend Target Date 2010

Collective trust fund

Commingled Pool Class X

227,639

4,504,652

MASCO CORPORATION 401(k) PLAN

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR), Concluded

December 31, 2023

EIN: 38-1794485

Plan Number: 033

(a)

(b)
Identity of Issue,
Borrower or
Similar Party

(c)
Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value and Number of Shares Outstanding

(d)

Cost

(e)
Current Value

Fidelity® FRDM Blend Target Date 2015

Collective trust fund

Commingled Pool Class X

294,043

6,131,386

Fidelity® FRDM Blend Target Date 2020

Collective trust fund

Commingled Pool Class X

1,439,477

30,538,080

Fidelity® FRDM Blend Target Date 2025

Collective trust fund

Commingled Pool Class X

2,689,514

61,300,741

Fidelity® FRDM Blend Target Date 2030

Collective trust fund

Commingled Pool Class X

4,619,110

108,987,889

Fidelity® FRDM Blend Target Date 2035

Collective trust fund

Commingled Pool Class X

3,280,480

85,349,237

Fidelity® FRDM Blend Target Date 2040

Collective trust fund

Commingled Pool Class X

2,942,913

78,815,027

Fidelity® FRDM Blend Target Date 2045

Collective trust fund

Commingled Pool Class X

2,749,288

74,356,981

Fidelity® FRDM Blend Target Date 2050

Collective trust fund

Commingled Pool Class X

2,008,012

53,497,052

Fidelity® FRDM Blend Target Date 2055

Collective trust fund

Commingled Pool Class X

1,124,631

32,149,589

Fidelity® FRDM Blend Target Date 2060

Collective trust fund

Commingled Pool Class X

921,161

17,655,435

Fidelity® FRDM Blend Target Date 2065

Collective trust fund

Commingled Pool Class X

337,672

4,941,016

Masco Corporation Company Stock Fund

Stock fund

467,841

31,336,023

Fidelity BrokerageLink®

Self-directed brokerage account

51,434,121

Notes Receivable from Participants

Ranging 1-15 years maturity with

rates of interest, 3.25% - 8.50%

—

25,801,710

1,496,689,909

* These investments are with a party-in-interest.

** Historical cost information is not required on the Schedule of Assets (Held at End of Year) for participant-directed investments.

MASCO CORPORATION 401(k) PLAN

SIGNATURE

The Plan. 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.


						Masco Corporation 401(k) Plan

						By:			Masco Corporation, Plan Administrator of the Masco Corporation 401(k) Plan


Date:	June 7, 2024	By:	/s/ Richard J. Westenberg
			Richard J. Westenberg
			Vice President, Chief Financial Officer and Treasurer
			Authorized Signatory

MASCO CORPORATION 401(k) PLAN

EXHIBIT INDEX


Exhibit Number						Description
23						Consent of Grant Thornton LLP relating to the Plan's financial statements

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SEC Form 11-K filed by Masco Corporation

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Masco Corporation to Participate in Fireside Chat at Investor Conference

Masco Corporation Reports Third Quarter 2024 Results

Masco Corporation Announces Date for Earnings Release and Conference Call for 2024 Third Quarter

$MAS Market Insights

Live Market Insights

Masco shares are trading higher after the company reported better-than-expected Q2 earnings.

Masco Sees FY24 Adj. EPS $4.05-$4.20 vs $4.09 Est.

Masco Q2 2024 Adj EPS $1.20 Beats $1.18 Estimate, Sales $2.091B Miss $2.103B Estimate

$MAS SEC Filings

SEC Form 10-Q filed by Masco Corporation

Masco Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

SEC Form 10-Q filed by Masco Corporation

$MAS Leadership Updates

Live Leadership Updates

$MAS Large Ownership Changes

This live feed shows all institutional transactions in real time.

$MAS Analyst Ratings

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

PPG appoints Irene Tasi as chief growth officer

Watkins Wellness President Steve Hammock Plans to Retire in 2022

SEC Form SC 13G/A filed by Masco Corporation (Amendment)

SEC Form SC 13G/A filed by Masco Corporation (Amendment)

SEC Form SC 13G/A filed by Masco Corporation (Amendment)

Masco downgraded by RBC Capital Mkts with a new price target

Citigroup initiated coverage on Masco with a new price target

Oppenheimer initiated coverage on Masco

$MAS Financials

Live finance-specific insights

Masco Corporation Reports Third Quarter 2024 Results

Masco Corporation Announces Date for Earnings Release and Conference Call for 2024 Third Quarter

Masco Corporation Reports Second Quarter 2024 Results

$MAS Insider Trading

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

Director Stevens Charles K. Iii sold $254,731 worth of shares (3,150 units at $80.87), decreasing direct ownership by 20% to 12,540 units (SEC Form 4)

VP - Chief HR Officer Straber Renee exercised 42,150 shares at a strike of $45.09 and sold $3,394,925 worth of shares (42,150 units at $80.54) (SEC Form 4)

VP, General Counsel and Sec. Cole Kenneth G. exercised 18,750 shares at a strike of $25.51 and sold $2,961,459 worth of shares (37,814 units at $78.32), decreasing direct ownership by 34% to 36,980 units (SEC Form 4)

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