Short answer
Fastenal (FAST) filed an 8-K current report with the SEC on July 16, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). President and CEO Jeff Watts appointed director, succeeding Daniel L. Florness effective CEO Transition Date.
Fastenal 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- President and CEO Jeff Watts appointed director, succeeding Daniel L. Florness effective CEO Transition Date
- CEO compensation includes $650,000 annual base salary, prorated through 2026
- Quarterly cash incentive target equals 1.75% of pre-tax income exceeding prior-year quarterly pre-tax income
- No additional 2026 equity awards; eligibility for position-level equity awards begins in 2027
- Employee-director retainer of $50,000 annually, prorated after CEO Transition Date
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