UNITED STATES 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: September 3, 2024
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of principal executive offices) (Zip Code)
(914 ) 641-2000
(Registrant’s telephone number, including area code)
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:
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 3, 2024, ITT Inc. (the “Company”) announced that Bartek Makowiecki has been promoted to Senior Vice President, Chief Strategy Officer and President, Industrial Process, effective immediately.
Mr. Makowiecki, age 46, has served as Senior Vice President, Strategy and Business Development since September 2021, and over that time he has successfully driven significant advancement in the Company’s strategy and business development activities.
Prior to joining the Company, Mr. Makowiecki served as Global Head of Strategy, M&A and Venturing of Ingredion Incorporated from October 2017 to September 2021. Immediately prior, he served as Director, Corporate Strategy & Head of M&A at Owens Corning from November 2015 to October 2017. Prior to that, Mr. Makowiecki held roles of increasing responsibility in global strategy and M&A at Parker-Hannifin Corporation from August 2003 to October 2015.
In connection with his new role leading the Company’s Industrial Process segment, the Compensation and Human Capital Committee of the Company’s Board of Directors approved an increase in Mr. Makowiecki’s annual base salary to $600,000 and an increase in his annual target equity compensation to $1,350,000. His target cash bonus will remain at 75% of his base salary. He will also receive a one-time award of restricted stock units with a fair market value of $500,000 as of the date of grant in connection with this additional assignment.
Mr. Makowiecki will continue to participate in the Company’s annual cash and equity incentive compensation plans and receive other benefits that are consistent with those disclosed in the Company’s proxy statement for its 2024 annual meeting of shareholders.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ITT Inc. | |||||||||||
(Registrant) | |||||||||||
| September 5, 2024 | By: | /s/ Lori B. Marino | |||||||||
Name: | Lori B. Marino | ||||||||||
Title: | Senior Vice President, General Counsel and Corporate Secretary | ||||||||||
(Authorized Officer of Registrant) | |||||||||||