Fortive (FTV) CLO Peter C. Underwood Receives 17.4-Share Award

What Happened Peter C. Underwood, Senior Vice President and Chief Legal Officer of Fortive Corporation (FTV), was credited with 17.392 notional shares (derivative award) on 2026-09-25 at a price of $56.09 per share, a notional value of approximately $976. The transaction is reported as an "A" (award/grant) and reflects a credit to Fortive’s Executive Deferred Incentive Program (EDIP) stock fund rather than an open‑market purchase.

Key Details

• Transaction date: 2026-09-25; Form 4 filed: 2026-09-28. No late filing is indicated in the filing excerpt.
• Amount credited: 17.392 notional shares at $56.09 per share; notional value ≈ $976.
• Transaction type: Award/derivative credit to the EDIP Stock Fund (not a cash purchase).
• Shares owned after transaction: Not specified in the provided excerpt.
• Footnotes of note:
  • F1: EDIP contributions are deemed invested as unfunded, notional shares based on NYSE closing price on the credit date.
  • F2: Notional shares convert on a one-to-one basis to actual shares.
  • F3: Voluntary contributions vest immediately for the reporting person; employer contributions vest per the EDIP schedule (100% on death, or upon retirement after meeting age/service rules, or prorated over participation years). Vested EDIP amounts are settled in Fortive common stock upon termination.

Context This was a deferred-compensation credit into Fortive’s EDIP (a non-cash, notional-share award). Such credits reflect how compensation is deferred or converted into company stock equivalents and do not represent an insider buying or selling shares in the market. The amount here is small (~$976) and should be interpreted as routine compensation bookkeeping rather than a directional investment signal.