8-K: Current report
Published on October 6, 2020
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) On October 6, 2020, the Board of Directors of Emerson Electric Co. (the “Company”) elected William H. Easter III, former Chairman, President and Chief Executive Officer of DCP Midstream, LLC (“DCP”), as a Director of the Company.
Mr. Easter was the Chairman, President and Chief Executive Officer of DCP, one of the largest midstream petroleum service companies in the country, from 2004 until his retirement in 2008. Mr. Easter also worked for ConocoPhillips for more than 30 years, where he held senior leadership, operations, and government affairs roles both domestically and internationally. Mr. Easter is currently a director of Concho Resources Inc., Delta Airlines Inc., and Grupo Aeroméxico, S.A.B. de C.V. He previously served as a director of Baker Hughes, Inc. from June 2014 until July 2017. He is also the Chairman of the Board of the Memorial Hermann Hospital System in Houston. He earned his Bachelor of Business Administration degree in Finance from the University of Houston and his Master of Science in Management degree from The Graduate School of Business at Stanford University. Mr. Easter was also appointed to serve as a member of the Compensation Committee and the Finance Committee.
Mr. Easter will receive an award of restricted stock, representing a $50,000 pro rata award of the $150,000 restricted stock portion of the annual retainer previously paid to all non-management directors. Going forward, Mr. Easter will be compensated on the same basis as all other non-management Directors of the Company. Compensation for non-management directors is described each year in the Company’s Proxy Statement under “Director Compensation”.
| Item 7.01. | Regulation FD Disclosure. |
The following information is furnished pursuant to Regulation FD.
On October 6, 2020, the Company issued a press release announcing the election of Mr. Easter. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description of Exhibit |
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| 99.1 | Press Release dated October 6, 2020. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURE
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.
| Date: October 6, 2020 | EMERSON ELECTRIC CO. | |||
| By: | /s/ John A. Sperino |
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| John A. Sperino | ||||
| Vice President and Assistant Secretary | ||||