UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 3, 2022
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(Exact name of registrant as specified in its charter)
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Registrant’s telephone number, including area code: (610 ) 647-2121
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Suzanne L. Stefany was appointed to the Board of Directors of AMETEK, Inc., or the “Company” effective August 3, 2022 to serve as a Class III Director until the 2024 Annual Meeting. Ms. Stefany joins the Board as an independent director. There is no arrangement or understanding between Ms. Stefany and any other person pursuant to which she was appointed as a director.
Non-employee directors receive compensation for service as a director which includes an annual basic retainer fee of $110,000, payable in advance in equal quarterly installments. Accordingly, Ms. Stefany will receive the pro rata portion of the annual fee for 2022. Non-employee directors also receive an annual equity award with a target value of $165,000. Additionally, non-employee directors are reimbursed for expenses related to their Board service.
On August 5, 2022, the Company issued a press release announcing Ms. Stefany’s appointment, a copy of which is attached as Exhibit 99.1 hereto and is hereby incorporated by reference in this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AMETEK, Inc. | |||||||||||
| August 8, 2022 | By: | /s/ WILLIAM J. BURKE | |||||||||
| Name: William J. Burke | |||||||||||
Title: Executive Vice President - Chief Financial Officer | |||||||||||
Exhibit 99.1
AMETEK Announces Appointment of Suzanne Stefany to Board of Directors
Berwyn, Pa., August 5, 2022 – AMETEK, Inc. (NYSE: AME) today announced that its Board of Directors has appointed Suzanne Stefany as a new director of the Company. Ms. Stefany is a Partner at PJT Partners, an investment bank headquartered in New York City, where she serves as an advisor to leading global multi-industry companies, advising, and executing on complex strategic and capital market transactions.
“We are pleased to welcome Suzanne as a member of our Board of Directors,” commented David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Suzanne’s demonstrated leadership in capital markets, her strong expertise in finance and governance, and her championing of global sustainability initiatives align well with our corporate strategy. Her diverse business acumen and board experience will benefit the continued growth of AMETEK.”
Prior to joining PJT Partners in 2017, Ms. Stefany served as Managing Director, Global Industry Analyst for Wellington Management from 2005 where she managed portfolio mandates covering the U.S., Europe, and Asia. She also previously held leadership positions at Loomis Sayles, Invesco Capital Management, and Putnam Investments. Ms. Stefany currently serves as a board member of JELD-WEN where she serves as Lead Independent Director, Chair of the Nominating and Governance Committee, and a member of the Compensation Committee.
Ms. Stefany holds a bachelor’s degree in Quantitative Economics and Spanish with Honors from Tufts University and a master’s degree in Finance from the MIT Sloan School of Management.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2021 sales of $5.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.
Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247
