8-KMaterial AgreementsExhibits & Filings

Parker-Hannifin Corp 8-K Report, Material Agreement (Nov 4, 2004)

Filed November 4, 2004For Securities:PH

Summary

Parker-Hannifin Corporation (PH) filed a Current Report (8-K) on November 4, 2004, primarily detailing a material definitive agreement. Specifically, on October 29, 2004, the company granted 10,000 restricted shares of its common stock to Nickolas W. Vande Steeg, who holds the positions of President, Chief Operating Officer, and Director. This grant of restricted stock is a form of executive compensation and is subject to specific terms and conditions outlined in a separate exhibit. For investors, this filing indicates a decision by the Compensation Committee to incentivize or reward a key executive with equity, aligning their interests with those of shareholders. While the specific performance criteria or vesting schedules are not detailed in the 8-K itself, the issuance represents a direct investment in the company's leadership.

Key Highlights

  • 1Parker-Hannifin granted 10,000 restricted shares of common stock to executive Nickolas W. Vande Steeg.
  • 2The recipient, Nickolas W. Vande Steeg, holds significant roles: President, Chief Operating Officer, and Director.
  • 3The grant of restricted stock was authorized by the Compensation and Management Development Committee of the Board of Directors.
  • 4The event date for this agreement was October 29, 2004.
  • 5The terms and conditions of the restricted stock grant are detailed in Exhibit 10(a), incorporated by reference into the filing.
  • 6This filing is classified under Item 1.01 (Entry into a Material Definitive Agreement).

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the entry into a material definitive agreement, specifically the issuance of 10,000 restricted shares of common stock to executive Nickolas W. Vande Steeg.

Nickolas W. Vande Steeg is the President, Chief Operating Officer, and a Director of Parker-Hannifin. The restricted stock was granted as a form of executive compensation, likely to incentivize performance and align his interests with those of shareholders, as authorized by the company's Compensation Committee.

The specific terms and conditions governing the 10,000 restricted shares are detailed in Exhibit 10(a) to this 8-K filing, which is incorporated by reference.

This particular 8-K filing solely reports on a specific executive compensation action (grant of restricted stock) and does not inherently provide information about the company's overall financial performance or future outlook. For that information, investors should refer to other SEC filings like quarterly earnings reports (10-Q) or annual reports (10-K).