Short answer
LEGGETT & PLATT INC (LEG) filed an 8-K current report with the SEC on May 22, 2026 reporting Item 1.02 (Termination of a Material Definitive Agreement), Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders). CEO Karl G. Glassman terminating aircraft time-sharing agreement effective May 30, 2026.
LEGGETT & PLATT INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.02 · Termination of a Material Definitive Agreement
- CEO Karl G. Glassman terminating aircraft time-sharing agreement effective May 30, 2026
- Company aircraft covered by agreement now expected to be sold
- Personal-flight arrangement required reimbursement of aggregate incremental costs, including deadhead flights
- Termination removes CEO aircraft-use arrangement as aircraft disposal proceeds
Item 5.02 · Departure/Election of Directors or Officers
- Shareholders approved 4.0 million additional shares, leaving approximately 8.2 million available for future grants as of March 13, 2026
- Expanded equity capacity supports retention and incentive compensation for executives, directors, and key employees through 2036
- Non-employee director annual compensation capped at $750,000, including equity fair value and cash consideration
- CEO must hold net shares from option or appreciation-right exercises for at least one year, strengthening ownership alignment
Item 5.07 · Submission of Matters to a Vote of Security Holders
- All eight directors elected through 2027 annual meeting, with Joseph McClanathan receiving weakest support at 88.7 million votes
- PwC ratified as independent auditor for fiscal 2026 by 115.2 million votes, signaling continued shareholder approval of audit oversight
- Say-on-pay approved by 94.8 million votes, though 5.7 million opposed executive compensation
- Flexible Stock Plan amendment and restatement approved by 96.5 million votes, preserving expanded compensation-plan flexibility
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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