01—Abstract
Summary
Summary of the 8-K filed February 27, 2025. Cited figures are marked; the original filing is the authoritative source.
Masco Corporation filed this Form 8-K under Item 5.02 to report that its Board of Directors elected Heath M.
Eisman, 50, as Vice President, Controller and Chief Accounting Officer, effective February 27, 2025. The board made the election on February 26, 2025. Mr. Eisman previously served as the Company's Director, Financial Reporting since 2014.
Before joining Masco, he was SEC Reporting and Technical Accounting Manager at Caterpillar Inc. and spent 16 years at PricewaterhouseCoopers in roles of increasing responsibility. The filing sets out Mr. Eisman's compensation package. He will receive an annual base salary of $310,000a and is eligible for the discretionary annual performance cash bonus program and the Long Term Incentive Program, each with a target opportunity of 40% of base salary and payouts capped at 200% of target.
He will also receive an annual restricted stock unit award valued at 40%b of base salary, and he is eligible for other executive benefits described in the April 1, 2024 Proxy Statement. The filing states there are no understandings or arrangements under which he was selected as an officer, no family relationships with any director or executive officer, and no transactions since the start of the last fiscal year requiring disclosure under Item 404(a) of Regulation S-K. For investors, this is a routine leadership change in the finance and accounting function rather than a material event.
02—Key points
Key Highlights
- Heath M. Eisman, 50, elected Vice President, Controller and Chief Accounting Officer, effective February 27, 2025
- Board elected Mr. Eisman on February 26, 2025
- Mr. Eisman was previously Director, Financial Reporting at Masco since 2014
- Prior experience includes SEC Reporting and Technical Accounting Manager at Caterpillar Inc. and 16 years at PricewaterhouseCoopers
- Annual base salary of $310,000
- Target opportunity of 40% of base salary under both the annual performance cash bonus program and the Long Term Incentive Program, capped at 200% of target
- Annual restricted stock unit award equal in value to 40% of base salary
03—Questions
Frequently Asked Questions
Who is the new Chief Accounting Officer at Masco?
Heath M. Eisman, 50, was elected Vice President, Controller and Chief Accounting Officer by the Board of Directors on February 26, 2025, effective February 27, 2025. He had previously served as the Company's Director, Financial Reporting since 2014.
What is Mr. Eisman's compensation?
He will receive an annual base salary of $310,000. He is eligible for a discretionary annual cash bonus and a Long Term Incentive Program equity award, each with a target of 40% of base salary and payouts capped at 200% of target. He will also receive an annual restricted stock unit award valued at 40% of base salary.
Does the appointment involve any related-party transactions or family relationships?
The filing states there are no family relationships between Mr. Eisman and any Masco director or executive officer. It also states there are and have been no transactions since the beginning of the last fiscal year requiring disclosure under Item 404(a) of Regulation S-K, and no understandings or arrangements under which he was selected.
What is Mr. Eisman's professional background?
Before joining Masco, Mr. Eisman was SEC Reporting and Technical Accounting Manager at Caterpillar Inc. and held various roles of increasing responsibility at PricewaterhouseCoopers over a 16-year period.
04—Continue