SPX FLOW, INC. (NYSE:FLOW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
This Amendment on Form 8-K/A (the “Amendment”) amends the Current Report on Form 8-K filed on December 17, 2018 (the “Prior Report”) by SPX FLOW, Inc. (the “Company”). In accordance with Instruction 2 to Item 5.02 of Form 8-K, the Prior Report omitted the information called for in Item 5.02 with respect to the compensation arrangements for Jaime M. Easley to be entered into in connection with his appointment as Vice President and Chief Financial Officer, which arrangements had not been finalized on the date the Prior Report was filed. This Amendment is filed to supplement the Prior Report with that information.
On January 7, 2019, the Compensation Committee of the Board of Directors of the Company approved an increase in Mr. Easley’s annual salary rate to $425,000 effective as of December 31, 2018 and amended his 2018 annual bonus award under the SPX FLOW Enterprise Incentive Plan to increase his target bonus opportunity to 70% of his year-end salary rate.
About SPX FLOW, INC. (NYSE:FLOW)
SPX FLOW, Inc. is a global supplier of engineered solutions. The Company engineers, designs, manufactures and markets products and solutions used to process, blend, filter, dry, meter and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems and components, as well as aftermarket components and support services. The Company operates through three segments: Food and Beverage; Power and Energy, and Industrial. The Company’s product portfolio includes pumps, valves, mixers, filters, air dryers, hydraulic tools, homogenizers, separators and heat exchangers, along with the related aftermarket parts and services. It supports global industries, including food and beverage; oil and gas; power generation, including nuclear and conventional; chemical processing, and compressed air and mining. Its brands include Anhydro, APV, Bran+Luebbe, Gerstenberg Schroeder, LIGHTNIN, Seital and Waukesha Cherry-Burrell.