UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report: August 31, 2016
(Date of earliest event reported)
IDEX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 1-10235 | 36-3555336 | ||
(State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
of incorporation) | Identification No.) | |||
1925 W. Field Court
Lake Forest, Illinois 60045
(Address of principal executive offices, including zip code)
(847) 498-7070
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 31, 2016, IDEX Corporation (the “Company) announced the appointment of Michael J. Yates as interim Chief Financial Officer of the Company, effective September 9, 2016, and the resignation of Heath A. Mitts as the Company’s Senior Vice President and Chief Financial Officer, effective September 9, 2016. The Company has begun a search to consider both internal and external candidates for the Chief Financial Officer role. A copy of the press release announcing Mr. Yates’ appointment and Mr. Mitts’ resignation is attached hereto as Exhibit 99.1.
Mr. Yates, 51, has been at the Company for 11 years and is currently Vice President and Chief Accounting Officer, a position he has held since 2010. He will continue to serve in this role during this interim period. He was Vice President and Controller of the Company for five years before becoming Vice President and Chief Accounting Officer. Mr. Yates held positions with PriceWaterhouseCoopers and KPMG for 17 years prior to joining the Company. He received his Bachelor of Science degree in accounting from Indiana University at Bloomington and is a certified public accountant.
There are no arrangements or understandings between Mr. Yates and any other person pursuant to which he was appointed as the interim Chief Financial Officer. Mr. Yates does not have any family relationship with any director or other executive officer of the Company, and there are no transactions in which Mr. Yates has an interest requiring disclosure under Item 404(a) of Regulation S-K.
In connection with his appointment as the interim Chief Financial Officer of the Company, the Compensation Committee of the Board of Directors of the Company approved an award for Mr. Yates of 5,355 shares of restricted stock. The award cliff vests three years after the grant date of August 31, 2016 based on continued service; provided, however, if Mr. Yates is terminated by the Company without cause prior to such vesting date, the award will fully vest upon termination.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |
99.1 | Press Release dated August 31, 2016 | |
SIGNATURE
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.
IDEX CORPORATION | ||
By: | /s/ HEATH A. MITTS | |
Heath A. Mitts | ||
Senior Vice President and Chief Financial Officer | ||
September 1, 2016 | ||
EXHIBIT INDEX
Exhibit Number | Description | |
99.1 | Press Release dated August 31, 2016 | |
EX99.1
IDEX Names Michael Yates as Interim Chief Financial Officer
LAKE FOREST, IL-(BUSINESS WIRE) - August 31, 2016 - IDEX Corporation (NYSE:IEX) announced today that Michael J. Yates has been appointed interim Chief Financial Officer of the Company, effective September 9, 2016.
Mr. Yates has been at IDEX for 11 years and has served as Vice President and Chief Accounting Officer since 2010. Prior to that, he was Vice President and Controller for five years. Mr. Yates held positions with PriceWaterhouseCoopers and KPMG for 17 years prior to joining IDEX. Mr. Yates received his Bachelor of Science degree in accounting from Indiana University at Bloomington.
IDEX Chairman and Chief Executive Officer Andy Silvernail stated, “Mike is an outstanding finance executive with over a decade of experience leading IDEX finance functions. Mike has been a key player in building our strong and deep finance team, and I am delighted to have a person of his caliber to lead our finance organization in this interim period.”
Heath A. Mitts has resigned from his position as Senior Vice President and Chief Financial Officer of IDEX, effective September 9, 2016. Mr. Mitts has accepted the position of Executive Vice President and Chief Financial Officer of TE Connectivity Ltd. (NYSE:TEL).
Mr. Silvernail thanked Heath, saying “Heath leaves a wonderful legacy at IDEX of a strong finance team, robust processes and systems, and a track record of excellence. He has also been a true executive partner and friend. All of us at IDEX wish Heath well and thank him for his great contributions.”
Mr. Silvernail said that IDEX has begun a search to consider both internal and external candidates for the Chief Financial Officer role.
About IDEX
IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, and fire, safety and other diversified products built to its customers’ exacting specifications. IDEX has annual revenues in excess of $2 billion and sells its products in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol “IEX”.
Contacts:
IDEX Corporation
Heath A. Mitts, 847-498-7070
Senior Vice President and Chief Financial Officer