8-KThe WireRed Alert
Executive Change
Filed Dec 13, 2023 · 2y ago · Accession 0001104659-23-125738
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): December 13, 2023
W.W. GRAINGER, INC.
(Exact name of Registrant as Specified in its
Charter)
Illinois
1-5684
36-1150280
(State
or other Jurisdiction
of incorporation)
(Commission
File Number)
(IRS
Employer Identification No.)
100
Grainger Parkway , Lake
Forest , Illinois
60045-5201
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code: ( 847 ) 535-1000
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
Common Stock
GWW
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
December 13, 2023, the Board of Directors (the “Board”) of W.W. Grainger, Inc. (the
“Company”) appointed Christopher Klein as a director to the Board, effective immediately. The Board also appointed
Mr. Klein to serve as a member of the Board Affairs and Nominating Committee and the Audit Committee. With the appointment of
Mr. Klein, the size of the Board was increased to 13 directors. A copy of the Company’s press release announcing
Mr. Klein’s appointment is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated by reference herein.
The appointment of Mr. Klein was not
pursuant to any arrangement or understanding between him and any other person. There have been no transactions since the beginning of
the Company’s last fiscal year, and there are no currently proposed transactions, in which the Company was or is to be a participant
and in which Mr. Klein or any member of his immediate family had or will have any interest, that are required to be reported under
Item 404(a) of Regulation S-K.
Mr. Klein will be compensated in accordance
with the Company’s compensation program for non-employee directors. The program provides that directors are eligible to receive
an annual deferred stock unit grant equal to $160,000, divided by the 20-day average closing price of the Company’s shares of common
stock through March 31, 2023, rounded up to the next whole share, and a $100,000 annual cash retainer (some or all of which may be
deferred in a deferred stock unit account). Mr. Klein’s compensation will be pro-rated to reflect that his appointment to the
Board occurred approximately eight months after the 2023 annual meeting of shareholders of the Company.
Mr. Klein is also entitled to enter into the Company’s standard form of indemnification agreement, which was filed as Exhibit 10(b)(i) to the
Company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on May 4, 2009 .
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Press release issued by the Company on December 13, 2023.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 13, 2023
W.W. GRAINGER, INC.
By:
/s/ Ronald J. Edwards
Name:
Ronald J. Edwards
Title:
Vice President, Corporate Secretary
Filing details
- Company
- W.W. GRAINGER, INC.
- Ticker
- GWW
- CIK
- 277135
- Form type
- 8-K
- Filing date
- Dec 13, 2023
- Report date
- Dec 13, 2023
- Document
- tm2332765d1_8k.htm
- Size
- 214 KB