8-KFinancial EventsExhibits & Filings

AMETEK INC/ 8-K Report, Financial Obligation (Jun 17, 2019)

Filed June 17, 2019For Securities:AME

Summary

AMETEK, Inc. (AME) filed an 8-K report on June 17, 2019, primarily to announce a change in its Board of Directors. Tod E. Carpenter was appointed as an independent director, effective June 17, 2019, and will serve until the 2021 Annual Meeting. This appointment is a routine governance update that doesn't immediately impact the company's financial performance but reflects ongoing board composition management. The report also details the compensation for non-employee directors, including an annual retainer of $100,000 and an annual equity award with a target value of $155,000. Mr. Carpenter will receive a pro-rata portion of these compensation elements for his service in 2019. Investors should note that the full details of director compensation are available in the company's 2019 Proxy Statement.

Key Highlights

  • 1Appointment of Tod E. Carpenter as an independent director to the Board of Directors, effective June 17, 2019.
  • 2Mr. Carpenter's term as a Class III Director will extend until the 2021 Annual Meeting.
  • 3No existing arrangements or understandings influenced Mr. Carpenter's appointment.
  • 4Non-employee directors receive an annual basic retainer of $100,000, payable quarterly.
  • 5Non-employee directors are also granted an annual equity award with a target value of $155,000.
  • 6Mr. Carpenter will receive a pro-rata portion of the annual director compensation for 2019.
  • 7The appointment was announced via a press release filed as an exhibit to the 8-K.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce the appointment of Tod E. Carpenter as a new independent director to AMETEK, Inc.'s Board of Directors.

Non-employee directors, including Mr. Carpenter, receive an annual basic retainer fee of $100,000 and an annual equity award with a target value of $155,000. Mr. Carpenter will receive a pro-rata amount of these compensation elements for his service in 2019.

This filing is primarily a governance update and does not indicate any immediate significant financial implications or changes to AMETEK's financial performance. The compensation details are standard for non-employee directors and are expected within the company's operational budget.

More detailed information regarding the compensation of non-employee directors can be found in AMETEK, Inc.'s proxy statement for the 2019 Annual Meeting of Stockholders, which was filed on March 12, 2019.