# EDGAR Filing Document

**Accession Number:** 0000038725
**File Stem:** 0000038725-23-000016
**Filing Date:** 2023-2
**Character Count:** 8020
**Document Hash:** 445b51c55c33a0289777b0f76ce8e4d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000038725-23-000016.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0000038725-23-000016

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230221

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN ELECTRIC CO INC
- **CENTRAL INDEX KEY:** 0000038725
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTORS & GENERATORS [3621]
- **IRS NUMBER:** 350827455
- **STATE OF INCORPORATION:** IN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-00362
- **FILM NUMBER:** 23645339

**BUSINESS ADDRESS:**
- **STREET 1:** 9255 COVERDALE ROAD
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46809
- **BUSINESS PHONE:** 2608242900

**MAIL ADDRESS:**
- **STREET 1:** 9255 COVERDALE ROAD
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46809

?xml version="1.0" ? fele-20230221

**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 (Date of earliest event reported): **February 21, 2023** 

**<u>FRANKLIN ELECTRIC CO., INC.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Indiana** | **0-362** | **35-0827455** |
| (State of incorporation) | (Commission File Number) | (IRS employer identification no.) |

---

---

| | | |
|:---|:---|:---|
| **9255 Coverdale Road** | **9255 Coverdale Road** | |
| **Fort Wayne,** | **Indiana** | **46809** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip code) |

---

**<u>(260) 824-2900</u>**

(Registrant's telephone number, including area code)

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐ 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))

Securities registered pursuant to Section 12(b) of the Act:

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| | | | |
|:---|:---|:---|:---|
| Common Stock, $0.10 par value | FELE | NASDAQ | Global Select Market |
| (Title of each class) | (Trading symbol) | (Name of each exchange on which registered) | (Name of each exchange on which registered) |

---

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. ☐

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**Item 8.01. Other Events**

On February 21, 2023, Franklin Electric Co., Inc., (the "Company") issued a press release announcing that its Board of Directors authorized the Company to increase the size of its previously authorized share repurchase program by an additional 1,000,000 shares. The authorization is in addition to the 215,872 that remained available for repurchase at the end of day, February 16, 2023. A copy of the press release announcing the increase in the share repurchase program is filed as Exhibit 99.1 to this Current Report on Form 8-K.

**Item 9.01. Financial Statements and Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits:

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| | |
|:---|:---|
| Exhibit Number | Description |
| 99.1 | <u>[Press release - "Franklin Electric Announces an Increase in its Stock Repurchase Program"](a20230221ex991sharerepurch.htm)</u> |
| 101 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
| 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL |

---

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**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.

<u>FRANKLIN ELECTRIC CO., INC.</u>

(Registrant)

---

| | | |
|:---|:---|:---|
| Date: February 21, 2023 | By | /s/ Jeffery L. Taylor |
| | | Jeffery L. Taylor |
| | | Vice President, Chief Financial Officer |
| | | (Principal Financial and Accounting Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

NEWS RELEASE FOR IMMEDIATE DISTRIBUTION

**FRANKLIN ELECTRIC ANNOUNCES AN INCREASE IN ITS STOCK REPURCHASE PROGRAM**

**Fort Wayne, IN – February 21, 2023** – Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its Board of Directors approved a 1,000,000 share increase to its stock repurchase program. This is in addition to the approximately 216,000 shares that remain authorized for repurchase under the existing stock repurchase program.

"We are pleased to increase our share repurchase authorization, which is enabled by our consistent operational performance and our healthy financial position. This announcement also reflects the Board of Directors' confidence in our business strategy and our long-term growth opportunities. We remain committed to allocating capital to profitable growth initiatives and returning capital to our shareholders through dividends and share repurchases," commented Gregg Sengstack, Franklin Electric's Chairperson and CEO.

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company's financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company's business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company's accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company's Securities and Exchange Commission filings, included in Item 1A of Part I of the Company's Annual Report on Form 10-K for the fiscal year ending December 31, 2021, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company's Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

<br>