Short answer
Johnson Controls (JCI) filed an 8-K current report with the SEC on May 13, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). New five-year VGI Program targets fiscal 2026–2030 sales growth and market-capitalization gains beyond existing incentive plans.
Johnson Controls 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- New five-year VGI Program targets fiscal 2026–2030 sales growth and market-capitalization gains beyond existing incentive plans
- CEO Joakim Weidemanis received $10.5M target grant-date value; CFO and CHRO each received $5.3M
- Awards split equally between sales and market-capitalization goals, with pro rata vesting above threshold performance
- Options require continued service, generally vesting only through September 30, 2030 and exercisable through September 30, 2032
- Retirement or poor-performance termination generally forfeits unvested awards, strengthening retention incentives but increasing executive compensation exposure
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