01—Abstract
Summary
Summary of the 8-K filed July 9, 2025. Cited figures are marked; the original filing is the authoritative source.
Masco Corporation filed a Current Report on Form 8-K under Item 5.02 (Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers).
The Company entered into an agreement dated July 8, 2025 with Keith J. Allman, its former President and Chief Executive Officer, in connection with his previously announced retirement from the Company on that date. Under the agreement, and subject to its terms, Mr. Allman will receive certain compensation after his employment ends.
This includes a 2025 cash bonus based on his individual target opportunity and the Company's 2025 annual performance, prorated through his last day of employment. It also includes the cash equivalent of a 2025 restricted stock unit award based on his individual target opportunity, prorated through the same date. He will additionally receive a share award under each of the 2023-2025 and 2024-2026 Long-Term Incentive Programs (LTIPs), if the established performance goals for each program are met, prorated to reflect his time of employment in each performance period.
For investors, the filing describes a planned leadership transition at the top of the Company and the post-employment payment terms for the departing chief executive. The filing does not state the dollar amounts of these payments, and it does not name a successor.
02—Key points
Key Highlights
- Keith J. Allman, former President and Chief Executive Officer, retired from Masco on July 8, 2025, under an agreement dated that same day.
- Mr. Allman's 2025 cash bonus will be paid, prorated through his last day of employment, based on his individual target opportunity and the Company's 2025 annual performance.
- Mr. Allman will receive the cash equivalent of a 2025 restricted stock unit award, prorated through his last day of employment, based on his individual target opportunity.
- Share awards under the 2023-2025 LTIP and the 2024-2026 LTIP are payable only if the established performance goals for each program are met.
- LTIP share awards will be prorated to reflect Mr. Allman's time of employment during each applicable performance period.
- The filing does not disclose dollar amounts for these payments or the identity of a successor CEO.
03—Questions
Frequently Asked Questions
Who is leaving Masco and when?
Keith J. Allman, the Company's former President and Chief Executive Officer, retired from the Company on July 8, 2025, as announced previously. The separation agreement is dated July 8, 2025.
What cash compensation will the departing CEO receive?
Subject to the agreement, Mr. Allman will receive a 2025 cash bonus based on his individual target opportunity and the Company's 2025 annual performance. The bonus is prorated through his last day of employment.
How will his equity awards be treated?
He will receive the cash equivalent of a 2025 restricted stock unit award based on his individual target opportunity, prorated through his last day of employment. He will also receive share awards under the 2023-2025 and 2024-2026 LTIPs, but only if the established performance goals are met, and prorated for his time of employment in each performance period.
Are the LTIP payouts guaranteed?
No. The LTIP share awards depend on whether the established performance goals for each program are met. The filing does not state the amounts or the expected outcome of those goals.
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