WATTS WATER TECHNOLOGIES,INC. (NYSE:WTS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
Watts Water Technologies,Inc. (the “Registrant”) and Louise K. Goeser entered into an indemnification agreement dated as of February10, 2016 in connection with her election as a Director of the Registrant.
The indemnification agreement entered into between the Registrant and Ms.Goeser is the Registrant’s standard form of indemnification agreement, a copy of which was filed as Exhibit10.1 to the Registrant’s Annual Report on Form10-K for the year ended December31, 2016. The indemnification agreement provides indemnity, including the advancement of expenses, to the directors and certain officers of the Registrant against liabilities incurred in the performance of their duties to the fullest extent permitted by the General Corporation Law of the State of Delaware.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March12, 2018, the Board of Directors of the Registrant elected Louise K. Goeser to serve as a member of the Registrant’s Board of Directors until the Registrant’s 2018 Annual Meeting of Stockholders or until her successor has been duly elected and qualified. Ms.Goeser was also appointed by the Board to serve as a member of the Nominating and Corporate Governance Committee of the Board of Directors.
Ms.Goeser has served as President and Chief Executive Officer of Grupo Siemens S.A. de C.V. since March2009 and is responsible for Siemens Mesoamérica. Siemens Mesoamérica is the Mexican, Central American and Caribbean unit of multinational Siemens AG, a global engineering company operating in the industrial, energy and healthcare sectors. Ms.Goeser previously served as President and Chief Executive Officer of Ford of Mexico from January2005 to November2008. Prior to this position, she served as Vice President, Global Quality for Ford Motor Company from 1999 to 2005. Prior to 1999, Ms.Goeser served as General Manager, Refrigeration and Vice President, Corporate Quality at Whirlpool Corporation and held various leadership positions with Westinghouse Electric Corporation. Ms.Goeser has served as a member of the Board of Directors of MSC Industrial Direct Co.,Inc. since December2009. Ms.Goeser previously served as a member of the boards of directors of Talen Energy from June2015 to December2016, PPL Corporation from March2003 to June2015, and Witco Corporation from 1997 to 1999.
Ms.Goeser will receive a grant of 372 shares of class A common stock under the Registrant’s Second Amended and Restated 2004 Stock Incentive Plan, which represents one quarter of the value of the annual grant of class A common stock to non-employee directors, and will receive a pro-rated amount of the normal cash retainer for non-employee directors.
There are no transactions in which Ms.Goeser has an interest requiring disclosure under Item 404(a)of Regulation S-K.
The disclosure contained in Item 1.01 is incorporated herein by reference.
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.