Grandon Jonathan M. 4

What Happened

• Jonathan M. Grandon, Chief Administrative Officer of Franklin Electric (FELE), exercised 4,200 stock options at $42.20 per share on 2026-05-22 (cost $177,240) and sold the 4,200 shares the same day in an open-market transaction at $98.23 per share for $412,579 in gross proceeds. The transactions are reported as an option exercise (code M) and an open-market sale (code S). Net proceeds from the transaction were roughly $235,339 before taxes and fees.

Key Details

• Transaction date: 2026-05-22. Exercise price: $42.20 (4,200 shares; $177,240). Sale price: $98.23 (4,200 shares; $412,579).
• Filing date: 2026-05-27 — filed late relative to the standard two-business-day Form 4 deadline.
• Shares owned after the transactions (per footnote): 7,509 shares total, consisting of 3,168 restricted shares vesting in equal 1/3 annual installments beginning 2/19/2026; 1,698 restricted shares vesting 2/20/2028; 1,715 restricted shares vesting 2/22/2027; and 928 shares owned outright.
• Option vesting note (footnote F2): the options become exercisable in four equal annual installments beginning 2/23/2017 (i.e., the options were on a multi-year vesting schedule).

Context

• This was effectively a cashless exercise: Grandon exercised options and sold the acquired shares the same day to realize cash proceeds. Such transactions are common for executives converting option value to cash and do not by themselves indicate company outlook. The late filing is a reporting issue that investors should note.