SEC Form 8-K filed by Zurn Elkay Water Solutions Corporation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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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. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. |
On May 17, 2024, Zurn Elkay Water Solutions Corporation (the “Company”) entered into a letter agreement with Todd A. Adams, its Chairman and Chief Executive Officer, providing for his continued employment with the Company (the “Letter Agreement”). The Letter Agreement replaces the Letter Agreement, dated December 13, 2018, between Mr. Adams and the Company (the “Former Letter Agreement”).
The Letter Agreement provides for a four-year term through May 17, 2028, after which it will automatically renew for successive one-year terms unless, at least 90 days prior to the expiration of the then-current term, either party provides notice of an intent to terminate the Letter Agreement upon its then-current expiration date. Mr. Adams’ base salary remains $1,005,000. The other terms of the Letter Agreement are substantially similar to those under the Former Letter Agreement.
The foregoing description of the Letter Agreement and related benefits does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| 10.1 | Letter Agreement, dated May 17, 2024, between Zurn Elkay Water Solutions Corporation and Todd A. Adams | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Zurn Elkay Water Solutions Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized this 17th day of May, 2024.
| ZURN ELKAY WATER SOLUTIONS CORPORATION | ||
| By: | /s/ Jeffrey J. LaValle | |
| Jeffrey J. LaValle | ||
| Vice President, General Counsel and Secretary | ||