Short answer
LEGGETT & PLATT INC (LEG) filed an 8-K current report with the SEC on February 24, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). CEO Glassman base salary raised to $1,315,000 (+3.1% from $1,275,000); CFO Burns and EVP Hagale each up 3% to $618,000.
LEGGETT & PLATT INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO Glassman base salary raised to $1,315,000 (+3.1% from $1,275,000); CFO Burns and EVP Hagale each up 3% to $618,000
- Davis (General Counsel) gets dual raises: KOIP target up to 75% (from 70%) and LTI multiple up to 175% (from 170%), signaling retention priority
- 2026 KOIP bonus targets unchanged for most executives; CEO Glassman eligible for 135% of base salary in annual cash incentive (max 200%)
- Corporate EBITDA target set at $375M (100% payout threshold); Cash Flow target $231.3M: both signal management's internal 2026 expectations
- PSU 3-year targets: EBITDA $1.214B at 100% payout, ROIC 11.1% at target; Relative TSR vs S&P 500/400 Industrials/Consumer/Materials peers applies ±25% multiplier
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