Underwood Peter C 4

What Happened Peter C. Underwood, Senior Vice President and Chief Legal Officer of Fortive (FTV), received a derivative award on 2026-03-27 consisting of 15.48 notional (phantom) shares credited as dividend accruals in the EDIP Stock Fund. The reported per-share price used for valuation was $53.92, giving a notional value of approximately $835. This was an award/grant (code A) — a compensation credit, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-27; filing date: 2026-03-31 (timely filed).
• Shares reported: 15.48 notional shares at $53.92 each; total notional value ≈ $835.
• Transaction type: Derivative award (notional/phantom shares credited as dividend accruals under the Executive Deferred Incentive Program — EDIP).
• Conversion/settlement: Notional shares convert on a 1:1 basis to common stock when settled (per footnote).
• Vesting: Reporting person immediately vests in 100% of voluntary contributions; issuer contributions vest per EDIP rules (death, retirement after eligibility, or graded vesting thereafter). Vested EDIP Stock Fund amounts are settled in Fortive common stock upon termination.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report appears timely (filed within SEC deadline).

Context This transaction is a compensation-related, derivative credit (phantom shares/dividend accruals) under Fortive’s executive deferred incentive plan. Such awards are routine forms of executive compensation and are different from outright purchases (which can signal bullishness) or sales (which may signal liquidity needs). The award becomes actual shares only when settled according to the EDIP’s conversion and vesting rules.