Business Context and Reporting Period
This Form 8-K Current Report was filed by Emerson Electric Co. on May 6, 2008. The filing reports a corporate governance event regarding the election of a new Director and associated compensatory arrangements.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation:
- Restricted Stock Award: 1,355 shares valued at $75,000 (pro rata portion of the $100,000 annual retainer).
- Cash Retainer: $5,833.33 per month.
- Meeting Fees: $1,500 per Board or Committee meeting.
Material Changes
The material change reported is the appointment of William R. Johnson (Chairman, President, and CEO of H. J. Heinz Company) as a Director of Emerson Electric Co. effective May 6, 2008. He was also appointed to the Compensation Committee and will stand for election at the 2009 Annual Meeting of Stockholders.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, risk factors, or contingencies. It strictly addresses the director election and compensation details.
Investor Verification Checklist
- Verify the pro rata calculation of the $75,000 restricted stock award relative to the $100,000 annual retainer.
- Confirm the effective date of the monthly cash retainer ($5,833.33) aligns with the May 6, 2008 appointment.
- Review the attached Press Release (Exhibit 99.1) for additional context on the Board's strategic rationale.
- Check the 2008 Proxy Statement for the full "Director Compensation" policy referenced in the filing.