WATTS WATER TECHNOLOGIES,INC. (NYSE:WTS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

WATTS WATER TECHNOLOGIES,INC. (NYSE:WTS) 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.

On February8, 2018, the Board of Directors of Watts Water Technologies,Inc. (the “Company”) approved an amended and restated Watts Water Technologies,Inc. Executive Severance Plan (the “Executive Severance Plan”).

The amendment and restatement of the Executive Severance Plan broadened the categories of transactions that may constitute a “change in control” under the plan and expanded the benefits provided under the plan in the event of a participant’s employment termination without “cause” or for “good reason” in connection with a change in control, in each case under and within the meaning of the Executive Severance Plan, to include (a)full accelerated vesting and, as applicable, exercisability of unvested equity or equity-based awards of the Company that are not subject to performance vesting conditions and (b)for awards that are subject to performance vesting conditions, accelerated vesting and, as applicable, exercisability at the level that would apply based on actual performance calculated as if the final day of the Company’s last completed fiscal quarter prior to the date of the employment termination were the final day of the applicable performance period. The amendment and restatement of the Executive Severance Plan did not make other material changes to the plan.

The foregoing summary is qualified in its entirety by reference to the amended and restated Executive Severance Plan, which is filed herewith as Exhibit10.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d)Exhibits.


WATTS WATER TECHNOLOGIES INC Exhibit
EX-10.1 2 a18-5772_1ex10d1.htm EX-10.1 Exhibit 10.1   WATTS WATER TECHNOLOGIES,…
To view the full exhibit click here

About WATTS WATER TECHNOLOGIES,INC. (NYSE:WTS)

Watts Water Technologies, Inc. (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co., is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it. The Company’s operating segments include Americas, EMEA and Asia-Pacific. The Company distributes its products through primary distribution channels, including wholesale, original equipment manufacturers (OEMs) and do-it-yourself (DIY). The Company offers a range of products in terms of design distinction, size and configuration. It offers products in four product lines, including residential and commercial flow control products; heating, ventilation and air conditioning (HVAC) and gas products; drainage and water re-use products, and water quality products.

An ad to help with our costs