LEGGETT & PLATT INC false 0000058492 0000058492 2023-04-25 2023-04-25

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 25, 2023

 

 

LEGGETT & PLATT, INCORPORATED

(Exact name of registrant as specified in its charter)

 

 

 

Missouri   001-07845   44-0324630

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

No. 1 Leggett Road,  
Carthage, MO   64836
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code 417-358-8131

N/A

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $.01 par value   LEG   New York Stock Exchange

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).

Emerging growth company ☐

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.

Termination of Arrangement for Karl G. Glassman Personal Use of Corporate Aircraft

As previously reported, Karl G. Glassman will retire as an executive officer of the Company as of the Company’s 2023 Annual Meeting of Shareholders, which is expected to be held May 4, 2023. In connection with Mr. Glassman’s retirement as an executive officer, Mr. Glassman and the Company, on April 25, 2023, mutually agreed to terminate the arrangement he has with the Company to use the Company’s aircraft for personal use. The termination will be effective May 4, 2023.

The arrangement was entered into on May 8, 2017, when the Compensation Committee of the Board adopted resolutions regarding the personal use of corporate aircraft by Mr. Glassman, who at the time served as President & CEO. Mr. Glassman’s use of corporate aircraft for personal travel by him and his guests was subject to the aircraft not being scheduled for business purposes, and was also subject to an annual limit of $100,000 in aggregate incremental cost to the Company, including the cost of “deadhead” flights necessitated by such personal use. Under the arrangement, the Company did not provide tax reimbursements to Mr. Glassman for any taxes arising from imputed income relating to his use of the corporate aircraft for personal travel by him or his guests.

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

EXHIBIT INDEX

 

Exhibit
No.		   

Description

10.1*    Description of Personal Use of Corporate Aircraft by Karl G. Glassman, filed February 22, 2022 as Exhibit 10.7 to the Company’s Form 10-K, is incorporated herein by reference. (SEC File No. 001-07845)
101.INS    Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document)
101.SCH**    Inline XBRL Taxonomy Extension Schema
101.LAB**    Inline XBRL Taxonomy Extension Label Linkbase
101.PRE**    Inline XBRL Taxonomy Extension Presentation Linkbase
104    Cover Page Interactive Data File (embedded within the inline XBRL document contained in Exhibit 101)

 

 

*

Denotes management contract or compensatory plan or arrangement.

**

Denotes filed herewith.

 

2

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.

 

    LEGGETT & PLATT, INCORPORATED
Date: April 26, 2023     By:  

/s/ SCOTT S. DOUGLAS

      Scott S. Douglas
      Senior Vice President –
      General Counsel & Secretary

 

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