Villavarayan Chris 4

What Happened

Chris Villavarayan, a non-employee director of Franklin Electric Co., Inc. (FELE), was credited with 8.24 Stock Units on May 21, 2026. The units are valued at $96.68 each, for an aggregate value of about $797. This transaction is recorded as an award/acquisition (transaction code A) and is a derivative credit (stock units), not an immediate issuance of common shares.

Key Details

• Transaction date: 2026-05-21; filing date (SEC): 2026-05-26.
• Transaction: 8.24 Stock Units credited at $96.68 per unit (total ~$797). Coded as an acquisition/award (A) and derivative.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Under the Nonemployee Directors' Deferred Compensation Plan, Mr. Villavarayan elected to receive 2025 stock award, meeting fees, and retainer in deferred stock; the 8.24 Stock Units represent dividends that would have been paid on those deferred shares. At distribution he may elect to receive shares or cash.
• Timeliness: The Form 4 was filed five days after the transaction date (filed 2026-05-26 for a 2026-05-21 transaction); Form 4s are generally due within two business days, so this filing appears to be late.

Context

This was a routine director compensation credit (deferred stock units) rather than an open-market purchase or a sale. Stock units are a form of deferred compensation — they track the value/dividends of shares but do not immediately transfer voting shares. Such awards are common for non-employee directors and do not, by themselves, signal buy/sell intent. At distribution the director can elect to receive the value in shares or cash.