8-KLeadership ChangesExhibits & Filings

Trane Technologies plc 8-K Report, Executive Changes (Oct 14, 2022)

Filed October 14, 2022For Securities:TT

Summary

Trane Technologies plc (TT) announced a key leadership appointment in an 8-K filing dated October 13, 2022. The Board of Directors has appointed Mark Majocha as Vice President and Chief Accounting Officer, effective December 1, 2022. Mr. Majocha, who has a history of progressively responsible finance roles within Trane Technologies since 2018, most recently serving as Vice President, Finance CHVAC Americas, will also assume the role of Principal Accounting Officer. This appointment signifies internal talent development for a critical financial role. Investors should note Mr. Majocha's compensation package, including a base salary of $425,000, an Annual Incentive Matrix Program target of 60%, and an annual equity award target of $350,000. He will also be eligible for other executive benefits and a Change in Control Agreement providing for two times his base salary plus AIM target severance in such an event. The company also confirmed no related-party transactions requiring disclosure.

Key Highlights

  • 1Mark Majocha appointed as Vice President and Chief Accounting Officer, effective December 1, 2022.
  • 2Mr. Majocha will also serve as Principal Accounting Officer.
  • 3He has held various finance leadership roles within Trane Technologies since 2018.
  • 4Base salary set at $425,000 annually.
  • 5Annual Incentive Matrix Program (AIM) target is 60%.
  • 6Annual equity award opportunity target is $350,000.
  • 7Change in Control Agreement provides for 2x base salary + AIM target severance.

Frequently Asked Questions

Mark Majocha has been appointed as Trane Technologies plc's Vice President and Chief Accounting Officer, effective December 1, 2022. He will also assume the responsibilities of the Principal Accounting Officer. Mr. Majocha has been with the company in various finance leadership positions since 2018.

Mr. Majocha will receive an annual base salary of $425,000. His target for the Annual Incentive Matrix Program (AIM) is 60%, and his annual equity award opportunity target is $350,000. He is also eligible for other executive benefits.

Mr. Majocha will enter into a Change in Control Agreement. In the event of a change in control of the company, he will be entitled to a severance payment equal to two times his base salary plus his AIM target.

The filing states that there are no transactions between Mr. Majocha and Trane Technologies plc that would require disclosure under Item 404(a) of Regulation S-K, indicating no immediate related-party concerns.