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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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 Arrangements of Certain Officers |
On November 4, 2021, the Board of Directors (the “Board”) of Fortive Corporation (the “Company”) approved an increase in the size of the Board, effective January 1, 2022, from eight to nine members and appointed Wright Lassiter III to the Board with a term commencing on January 1, 2022 and expiring at the 2022 Annual Meeting of Shareholders and until his successor is duly elected and qualified.
As a non-employee director, Mr. Lassiter will receive the same compensation paid to other non-employee directors of the Company as disclosed in Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended October 1, 2021, which is incorporated by reference herein. Mr. Lassiter has also entered into an indemnification agreement with the Company, the form of which is disclosed as Exhibit 10.10 to Amendment No. 2 to the Company’s Registration Statement on Form 10, filed on April 7, 2016 and is incorporated by reference herein.
In connection with the appointment of Mr. Lassiter, the Board also determined that Mr. Lassiter is independent within the meaning of the listing standards of the New York Stock Exchange.
There is no arrangement or understanding between Mr. Lassiter and any other person pursuant to which he was selected as a director of the Company. Furthermore, there are no transactions in which Mr. Lassiter has an interest requiring disclosure under Item 404(a) of Regulation S-K.
SIGNATURES
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.
| FORTIVE CORPORATION | ||
| By: | /s/ Daniel B. Kim | |
| Name: Daniel B. Kim | ||
| Title: Vice President - Associate General Counsel and Secretary | ||
Date: November 8, 2021
