01—Abstract
Summary
Summary of the 8-K filed April 8, 2024. Cited figures are marked; the original filing is the authoritative source.
Roper Technologies, Inc. filed a Current Report on Form 8-K dated April 8, 2024 to disclose that its Board of Directors elected John F.
Murphy, age 55, as a director, effective that day. Mr. Murphy's term expires at the Company's 2024 Annual Meeting of Stockholders, and he will serve on the Audit Committee effective with his election. Under the Company's standard non-employee director arrangements, Mr. Murphy will receive an equity award with a grant date fair value of approximately $64,167,a which represents the pro-rata value of a full-year non-employee director award of $385,000.
He will also enter into the Company's standard form of director and officer indemnification agreement. Compensation terms follow the Company's 2023 Proxy Statement, filed with the SEC on April 28, 2023. The filing describes Mr. Murphy as most recently Executive Vice President and Chief Financial Officer of Adobe Inc., with prior executive roles at Qualcomm and DIRECTV.
Roper's CEO Neil Hunn and Board Chair Amy Woods Brinkley commented in a press release, Exhibit 99.1, which was furnished with the filing. The filing contains no financial results or guidance.
02—Key points
Key Highlights
- John F. Murphy, age 55, was elected to Roper's Board of Directors on April 8, 2024, with a term expiring at the 2024 Annual Meeting of Stockholders.
- Mr. Murphy will serve on the Audit Committee of the Board effective with his election.
- Equity award grant date fair value of approximately $64,167, the pro-rata value of a full-year non-employee director award of $385,000.
- Mr. Murphy will enter into the Company's standard form of director and officer indemnification agreement.
- Mr. Murphy most recently served as Executive Vice President and Chief Financial Officer of Adobe Inc., and previously held roles at Qualcomm and DIRECTV.
- Mr. Murphy currently serves on two other public company boards, according to the press release.
- The filing includes Exhibit 99.1, a press release announcing the appointment, and Exhibit 104, the cover page interactive data file.
03—Questions
Frequently Asked Questions
Who is the new board member and what is his background?
John F. Murphy, age 55, most recently served as Executive Vice President and Chief Financial Officer of Adobe Inc. Before becoming CFO, he was Adobe's Senior Vice President, Chief Accounting Officer, and Controller. He also held executive roles at Qualcomm and DIRECTV and currently serves on two other public company boards.
On which committee will Mr. Murphy serve?
Mr. Murphy will serve on the Audit Committee of the Board, effective with his election on April 8, 2024.
How will Mr. Murphy be compensated?
He will receive compensation under the Company's standard non-employee director arrangements, described in the 2023 Proxy Statement filed April 28, 2023. His initial equity award has a grant date fair value of approximately $64,167, which is the pro-rata value of a full-year award of $385,000.
How long is Mr. Murphy's term on the Board?
His term expires at the Company's 2024 Annual Meeting of Stockholders.
Does this filing include any financial results or guidance?
No. The filing concerns the Board appointment only. It attaches a press release announcing Mr. Murphy's election and includes no financial results or guidance.
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