Business Context and Reporting Period
Company: Fastenal Company (FAST)
Filing Type: Form 8-K (Current Report)
Date of Report: April 10, 2025
Event: Appointment of an interim Chief Financial Officer.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation and personnel changes.
Material Changes
The primary material change reported is the appointment of Sheryl A. Lisowski as interim Chief Financial Officer, effective April 17, 2025. Ms. Lisowski previously served as Executive Vice President – Chief Accounting Officer and Treasurer since December 2020.
Management Commentary and Compensation Details
- Role: Interim Chief Financial Officer (until a permanent successor is appointed).
- Base Salary Adjustment: Increased from $320,000 to $440,000, effective April 17, 2025.
- Quarterly Cash Incentive Bonus:
- 0.40% of the amount by which Company-wide quarterly pre-tax income exceeds 100% of the same quarter's prior-year pre-tax income.
- 0.27% of the amount by which Company-wide quarterly net income exceeds 100% of the same quarter's prior-year net income.
- Other Compensation: Ms. Lisowski remains eligible for the supplemental bonus under the Company's 2025 ROA (Return on Asset) Plan. No new stock options are granted in connection with this appointment.
- Duration: The salary increase and bonus structure apply from the Effective Date through the end of the quarter in which her interim appointment concludes.
Investor Verification Checklist
- Verify the effective date of the interim CFO appointment (April 17, 2025).
- Confirm the specific performance thresholds for the new quarterly cash incentive bonus structure.
- Monitor future filings for the appointment of a permanent Chief Financial Officer.
- Review the Company's 2025 ROA Plan details to understand the supplemental bonus eligibility.