Xylem Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Xylem Inc. on October 13, 2015. The report discloses a specific corporate governance event regarding executive compensation approved by the Leadership Development and Compensation Committee of the Board of Directors.
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 a compensatory arrangement and does not contain financial performance data.
Material Changes
On October 13, 2015, the Board approved a special recognition grant for Shashank Patel, the Company's Interim Chief Financial Officer. The grant consists of $200,000 in restricted stock units (RSUs) under the Xylem 2011 Omnibus Incentive Plan.
- Grant Date: November 2, 2015
- Valuation: The number of RSUs will be calculated by dividing $200,000 by the closing share price on the grant date.
- Vesting Schedule: The RSUs are scheduled to cliff vest on November 2, 2018.
- Conditions: Vesting is subject to continued employment with the Company on the vesting date.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document is limited to the disclosure of the executive compensation grant.
Key Facts for Investor Verification
- Verify the closing share price of Xylem Inc. on November 2, 2015, to determine the exact number of RSUs issued.
- Confirm the continued employment status of Shashank Patel as Interim CFO through the November 2, 2018 vesting date.
- Review the Xylem 2011 Omnibus Incentive Plan terms for any additional conditions affecting the grant.