Business Context and Reporting Period
This Form 8-K filing by ITT Inc. (NYSE: ITT) is dated May 2, 2026, reporting events occurring on May 6, 2026, and effective May 8, 2026. The filing addresses significant changes in executive leadership within the finance function.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Departure of CFO: Emmanuel Caprais, Chief Financial Officer, is departing for personal reasons effective May 8, 2026, after nearly 14 years of service. The departure is not related to any disagreement regarding company operations or policies.
- Interim Appointment: Michael J. Savinelli, currently Vice President, Treasurer, Chief Tax Officer & Assistant Secretary, will serve as interim Chief Financial Officer effective May 8, 2026.
- Transition Plan: Mr. Caprais will remain as a business advisor reporting to the CEO through July 1, 2026, to ensure a seamless transition.
Compensation and Management Commentary
Management confirmed that Mr. Caprais's compensation during his advisory period will be materially consistent with his prior compensation. For the interim CFO role, Mr. Savinelli will receive:
- Salary, bonus, and equity awards consistent with his prior seniority and position.
- A one-time grant of $300,000 in restricted stock units under the Omnibus Equity Incentive Plan.
- A monthly cash stipend of $25,000 during his service as interim CFO.
- Standard health, welfare, and retirement benefits available to salaried employees.
The Board of Directors has initiated a search for a permanent successor to the CFO position.
Investor Verification Checklist
- Verify the timeline for the permanent CFO search and any subsequent announcements regarding the appointment.
- Monitor future filings for any changes in financial reporting quality or timing during the interim leadership period.
- Review the impact of the $300,000 RSU grant and $25,000 monthly stipend on near-term equity dilution and operating expenses.
- Confirm that no undisclosed disagreements or contingencies exist regarding Mr. Caprais's departure, as stated in the filing.