# EDGAR Filing Document

**Accession Number:** 0001659166
**File Stem:** 0001659166-25-000095
**Filing Date:** 2025-6
**Character Count:** 44755
**Document Hash:** af404457f5f2e69e1adc10cfb2b5d4c1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001659166-25-000095.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001659166-25-000095

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250623

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fortive Corp
- **CENTRAL INDEX KEY:** 0001659166
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37654
- **FILM NUMBER:** 251066280

**BUSINESS ADDRESS:**
- **STREET 1:** 6920 SEAWAY BLVD.
- **CITY:** EVERETT
- **STATE:** WA
- **ZIP:** 98203
- **BUSINESS PHONE:** (425) 446-5000

**MAIL ADDRESS:**
- **STREET 1:** 6920 SEAWAY BLVD.
- **CITY:** EVERETT
- **STATE:** WA
- **ZIP:** 98203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TGA Holding Corp.
- **DATE OF NAME CHANGE:** 20151123

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**________________________________________________** 

**FORM 11-K**

________________________________________________

**FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR**

**PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

---

| | |
|:---|:---|
| **(Mark One)** | |
| 🗷 | **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.** |
| **For the fiscal year ended December 31, 2024** | **For the fiscal year ended December 31, 2024** |
| **Or** | **Or** |
| □ | **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
| **For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** | **For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** |
| **Commission file number 1-37654** | **Commission file number 1-37654** |

---

&nbsp;&nbsp;&nbsp;&nbsp;A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

**Fortive Retirement Savings Plan**

&nbsp;&nbsp;&nbsp;&nbsp;B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

**Fortive Corporation**

**6920 Seaway Blvd**

**Everett, WA 98203**

&nbsp;&nbsp;&nbsp;&nbsp;**(425) 446-5000**

------

**FORTIVE RETIREMENT SAVINGS PLAN**

**FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024 AND 2023** 

**AND FOR THE YEAR ENDED DECEMBER 31, 2024, SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2024 AND**

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

------

**FORTIVE RETIREMENT SAVINGS PLAN**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **Page** |
| <u>[Report of Independent Registered Public Accounting Firm](#i2a7537da99544b9699812b97aba1c369_16)</u> | <u>[4](#i2a7537da99544b9699812b97aba1c369_16)</u> |
| **FINANCIAL STATEMENTS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023](#i2a7537da99544b9699812b97aba1c369_22)</u> | <u>[5](#i2a7537da99544b9699812b97aba1c369_22)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2024](#i2a7537da99544b9699812b97aba1c369_25)</u> | <u>[6](#i2a7537da99544b9699812b97aba1c369_25)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Notes to Financial Statements for the Year Ended December 31, 2024](#i2a7537da99544b9699812b97aba1c369_28)</u> | <u>[7](#i2a7537da99544b9699812b97aba1c369_28)</u> |
| **SUPPLEMENTAL SCHEDULE** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Form 5500, Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2024](#i2a7537da99544b9699812b97aba1c369_55)</u> | <u>[12](#i2a7537da99544b9699812b97aba1c369_55)</u> |

---

------

**Report of Independent Registered Public Accounting Firm**

To the Plan Participants, the Plan Administrator, and the Investment Committee of the Fortive Retirement Savings Plan

**Opinion on the Financial Statements**

We have audited the accompanying statements of net assets available for benefits of Fortive Retirement Savings Plan (the Plan) as of December 31, 2024 and 2023, and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2024 and 2023, and the changes in its net assets available for benefits for the year ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Supplemental Schedule Required by ERISA**

The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2024 (referred to as the "supplemental schedule"), has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The information in the supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Ernst & Young, LLP

We have served as the Plan's auditor since 2016.

Seattle, Washington

June 23, 2025

------

**FORTIVE RETIREMENT SAVINGS PLAN**

**STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS**

**AS OF DECEMBER 31, 2024 AND 2023** 

**($ in millions)**

---

| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| **ASSETS** |  |  |
| Non-interest bearing cash | $— | $0.1 |
| Investments at fair value | 2116.7 | 1896.6 |
| Receivables: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes receivable from participants | 19.2 | 16.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer contributions | 2.4 | 2.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 0.7 | 0.7 |
| Total receivables | 22.3 | 19.6 |
| Total assets | 2139.0 | 1916.3 |
| **LIABILITIES** |  |  |
| Other payables | 0.8 | 0.7 |
| Total liabilities | 0.8 | 0.7 |
| **NET ASSETS AVAILABLE FOR BENEFITS** | $2138.2 | $1915.6 |

---

See the accompanying notes to the financial statements.

------

**FORTIVE RETIREMENT SAVINGS PLAN**

**STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS**

**FOR THE YEAR ENDED DECEMBER 31, 2024** 

**($ in millions)**

---

| | |
|:---|:---|
| **ADDITIONS TO (DEDUCTIONS FROM) NET ASSETS ATTRIBUTED TO:** | |
| Investment income: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income on notes receivable from participants | $1.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend and interest income from investments | 19.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net appreciation in fair value of investments  | 276.9 |
| Total investment income | 297.6 |
| Contributions: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participant | 96.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollovers | 14.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer | 62.9 |
| Total contributions | 174.0 |
| Benefit payments | (247.9) |
| Administrative expenses | (1.1) |
| Total benefit payments and administrative expenses | (249.0) |
| **NET INCREASE IN NET ASSETS** | 222.6 |
| **NET ASSETS AVAILABLE FOR BENEFITS:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of year | 1915.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of year | $2138.2 |

---

See the accompanying notes to the financial statements.

------

<u>[**Table of Contents**](#i2a7537da99544b9699812b97aba1c369_13)</u>

**FORTIVE RETIREMENT SAVINGS PLAN**

**NOTES TO FINANCIAL STATEMENTS**

**YEAR ENDED DECEMBER 31, 2024** 

**NOTE 1. DESCRIPTION OF THE PLAN**

The following description of the Fortive Retirement Savings Plan (the "Plan") provides only general information. Participants should refer to the plan document and summary plan description for a more complete description of the Plan's provisions.

**General**

Fortive Corporation ("Fortive," "the Company", or "the Plan Sponsor") is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive established the Plan effective May 31, 2016. The Plan is a defined contribution plan established for eligible full-time and part-time non-union employees of the Company and its subsidiaries. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and the Plan is administered through affiliates of the trustee, Fidelity (the "Plan Administrator"). Plan participants should refer to the formal legal documents of the Plan and the summary plan description for a more complete description of the Plan's provisions and a full explanation of all limitations, adjustments and special cases in the Plan. Significant provisions related to contributions, benefit payments, and investments are provided below.

On September 4, 2024, the Company announced its intention to separate its Precision Technologies segment business into an independent publicly-traded company (the "Separation"), which has been incorporated under the name Ralliant Corporation ("Ralliant"). The Company is currently targeting completion of the Separation by the end of the second quarter of 2025. Upon completion of the Separation, Ralliant will create a new savings plan, and the balances related to employees of Ralliant after the Separation will be transferred to the new savings plan.

**Contributions**

At the time of eligibility, the Company automatically enrolls eligible employees at a contribution rate of 5% of pre-tax eligible earnings if the participant does not otherwise make an affirmative election to contribute or opt-out of pre-tax contributions. Eligible participants may contribute up to 75% of their compensation (subject to annual maximums). Employee contributions and the earnings or losses thereon are fully vested at all times.

The Company's retirement contributions are determined at the discretion of the Plan Sponsor. Employees are eligible for Company retirement contributions upon completion of one year of service and become fully vested upon completion of three years of service. The discretionary retirement contribution can range from 0% to 2% of eligible compensation. For the year ended December 31, 2024, the discretionary retirement contribution was 2% of eligible compensation.

For eligible participants who have completed one year of service and are active employees on the last day of the plan year, an additional discretionary retirement contribution of up to 2% of eligible compensation above the Social Security wage base in effect at the beginning of the Plan year is calculated and deposited into participant accounts subsequent to the Plan year end. These contributions become fully vested after three years of service. For the year ended December 31, 2024, this additional retirement contribution was 2% of eligible compensation.

In addition, the Company makes matching contributions into the Plan. These matching contributions are considered "safe harbor" and the percentage for the safe harbor matching contributions has been established in the plan document. The Company matching contribution is 100% of the first 3% of eligible compensation contributed by the participant plus 50% of the next 2% of eligible compensation contributed. Employees are immediately 100% vested in all safe harbor matching contributions.

**Benefit Payments**

A participant who attains normal retirement age (age 65) shall be entitled to payment of the balance in their account. A participant who remains employed after attainment of normal retirement age shall continue to participate under the same terms and conditions as applied prior to reaching normal retirement age. A participant must begin receiving distributions no later than April 1 following the later of the year in which they retire from the Company or the calendar year in which they reach the age of 73.

The beneficiary or beneficiaries of a deceased participant shall be entitled to payment of the participant's account balance within a reasonable period of time after the participant's death.

------

<u>[**Table of Contents**](#i2a7537da99544b9699812b97aba1c369_13)</u>

Upon total and permanent disability, a participant shall be entitled to payment of the balance in their account within a reasonable period of time after termination of employment.

Upon a participant's termination of employment for reasons other than as specified above, a participant is entitled to payment of their vested account balance. If the vested value of the participant's account is $1,000 (applied separately to Roth and non-Roth balances) or less, payment will automatically be made in a single lump sum. If the vested value of the participant's Roth or non-Roth balances is greater than $1,000 and does not exceed $5,000, the Plan Administrator will automatically rollover the Roth or non-Roth balances to a separate Fidelity Individual Retirement Account. If the vested value of the participant's account is greater than $5,000, the participant must contact the Plan Administrator to request a distribution.

Eligible participants may request a hardship or age 59 1/2 in-service withdrawal of all or a portion of their vested account while still working for the Company in accordance with procedures established by the Plan Administrator, subject to certain limitations and tax penalties.

**Notes Receivable from Participants**

A participant may receive a loan from the Plan in accordance with the policy established by the Plan Sponsor. Any such loan or loans shall not exceed the lesser of 50% of the participant's vested account balance or $50,000 reduced by the participant's highest outstanding loan balance in the Plan during the one-year period ending on the day before the loan is made. The Plan Administrator establishes the maximum maturity period that is permitted to prevent the loan from being treated as a distribution. Plan provisions require that all loans must be paid back within 60 months. The Plan Administrator may require loan payments to be made through payroll deductions.

**Participant Accounts**

Each participant account is credited with the participant's contributions, employer safe harbor matching contributions, employer retirement contributions, and an allocation of Plan earnings or losses, and is charged quarterly with administrative expenses and recordkeeping fees. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

**Administrative Expenses**

The Plan's administrative expenses are paid by either the Plan or the Plan Sponsor, as provided by the Plan's provisions. Administrative expenses paid by the Plan include recordkeeping and trustee fees.

The Plan participates in a revenue credit program (Credits). Credits are earned in connection with the Plan's revenue sharing arrangements with certain investment funds. The Credits are deposited in an unallocated account and can be used to pay ERISA-qualified expenses or can be allocated to eligible participant accounts. The calculated Credits are funded quarterly in arrears by the Plan Administrator.

**Unallocated Accounts**

During the year ended December 31, 2024, forfeitures used to reduce Company related contributions totaled $1.2 million.

As of December 31, 2024 and 2023, unallocated and non-vested accounts, including forfeited amounts, totaled $0.8 million and $0.6 million, respectively. These amounts will be used to reduce future employer contributions and to pay administrative expenses.

**Termination of the Plan**

Although the Company, as the Plan Sponsor, has not expressed an intention to do so, the Plan may be terminated at any time. In the event of termination of the Plan, the account balances of participants as of the date of termination shall immediately become vested.

**NOTE 2. SIGNIFICANT ACCOUNTING POLICIES**

**Basis of Accounting**

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

------

<u>[**Table of Contents**](#i2a7537da99544b9699812b97aba1c369_13)</u>

**Use of Estimates**

The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities and changes therein, and the related disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

**Risks and Uncertainties**

Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

**Notes Receivable from Participants**

Notes receivable from participants represent participant loans and are recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2024 and 2023. If a participant ceases to make loan repayments and has reached a distributable event, the loan balance is reduced and a benefit payment is recorded.

**Investments**

Investments are reported at fair value. Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Refer to Note 3 for discussion of fair value measurements.

Purchases and sales of securities are recorded on a trade date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. The income of each fund is reinvested in that fund.

**Payment of Benefits**

Benefits are recorded when paid.

**NOTE 3. FAIR VALUE MEASUREMENT**

Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Plan's assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. Level 3 inputs are unobservable inputs based on management's assumptions. A financial asset or liability's classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The Plan provides for some investments that are valued using the Net Asset Value ("NAV") practical expedient. None of these investments have limits on their redemption. Investments valued using NAV consist of common collective trusts which allow the Plan to allocate investments across a broad array of types of funds and diversify the portfolio.

------

<u>[**Table of Contents**](#i2a7537da99544b9699812b97aba1c369_13)</u>

The fair values of the Plan's investments as of December 31, 2024, by asset category, were as follows ($ in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Quoted Prices in Active Market**<br>**(Level 1)** | **Significant Other Observable Inputs**<br>**(Level 2)** | **Significant Unobservable Inputs**<br>**(Level 3)** | **Total** |
| Money market funds | $0.2 | $— | $— | $0.2 |
| Fortive Corporation Stock Fund: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fortive common stock | 36.1 |  |  | 36.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market fund | 0.4 |  |  | 0.4 |
| Mutual funds | 588.2 |  |  | 588.2 |
| Separately managed funds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 3.6 |  |  | 3.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 327.0 |  |  | 327.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds |  | 0.4 |  | 0.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 59.1 |  |  | 59.1 |
| Self-directed brokerage accounts | 117.0 |  |  | 117.0 |
|  | $1131.6 | $0.4 | $— | $1132.0 |
| Investments measured at NAV |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common/collective trusts |  |  |  | 984.7 |
| Total investments, at fair value |  |  |  | $2116.7 |

---

The fair values of the Plan's investments as of December 31, 2023, by asset category, were as follows ($ in millions):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Quoted Prices in Active Market**<br>**(Level 1)** | **Significant Other Observable Inputs**<br>**(Level 2)** | **Significant Unobservable Inputs**<br>**(Level 3)** | **Total** |
| Money market funds | $0.3 | $— | $— | $0.3 |
| Fortive Corporation Stock Fund: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fortive common stock | 39.7 |  |  | 39.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market fund | 0.4 |  |  | 0.4 |
| Mutual funds | 536.3 |  |  | 536.3 |
| Separately managed funds: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 3.6 |  |  | 3.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 270.2 |  |  | 270.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds |  | 0.4 |  | 0.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 38.0 |  |  | 38.0 |
| Self-directed brokerage accounts | 89.0 |  |  | 89.0 |
|  | $977.5 | $0.4 | $— | $977.9 |
| Investments measured at NAV |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common/collective trusts |  |  |  | 918.7 |
| Total investments, at fair value |  |  |  | $1896.6 |

---

Following is a description of the valuation techniques and inputs used for each major class of assets measured at fair value:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Money market funds and mutual funds* are valued at the quoted closing price reported on the active market on which the individual securities are traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The *Fortive Corporation Stock Fund* consists of shares of the Company's stock and short-term money market investments and is valued based on the quoted market price of the investments.

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<u>[**Table of Contents**](#i2a7537da99544b9699812b97aba1c369_13)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The *separately managed funds* consist of common stock, money market funds, and mutual funds, which are valued at the last reported sales price of the security on the last business day of the year, uninvested interest bearing cash and cash equivalents, which is recorded at carrying value as maturities are less than three months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The *self-directed brokerage accounts* consist of common stock, mutual funds, and exchange traded funds, which are valued at the last reported sales price on the last business day of the year, and uninvested interest bearing cash, which is recorded at carrying value as maturities are less than three months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Participation units in the *common/collective trust funds* are valued using the NAV of units held. The NAV is used as a practical expedient to estimate fair value and is based on the fair value of the underlying investments held by the fund less its liabilities.

The methods described above may produce a fair value estimate that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes the valuation methods are appropriate and consistent with the methods used by other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

**NOTE 4. TAX STATUS OF THE PLAN**

The Plan received a determination letter from the Internal Revenue Service ("IRS") dated November 8, 2022 stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the "Code") and, therefore, its related trust is exempt from taxation. The Plan Sponsor believes that the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax-exempt.

GAAP requires plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Sponsor has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

**NOTE 5. RELATED PARTY AND PARTIES IN INTEREST TRANSACTIONS**

Certain investments are held in shares of mutual funds and units of common collective trust funds issued by affiliates of Fidelity. Fidelity is the trustee as defined by the Plan, therefore, these are party in interest transactions.

Additionally, as of both December 31, 2024 and 2023, the Plan held 0.5 million shares of Fortive common stock within the Fortive Corporation Stock Fund. During the year ended December 31, 2024, the Fortive Corporation Stock Fund purchased $19.7 million and sold $24.0 million in Company stock and received $0.2 million of dividends related to shares of Fortive common stock.

------

**SUPPLEMENTAL SCHEDULE**

**FORTIVE RETIREMENT SAVINGS PLAN**

**EIN: 47-5654583, PLAN NO. 001**

**FORM 5500, SCHEDULE H, LINE 4i** 

**SCHEDULE OF ASSETS (HELD AT END OF YEAR)**

**AS OF DECEMBER 31, 2024** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **(a)** | **(b) Identity of issue, borrower, lessor or similar party** | **(c) Description of investment including maturity date,** <br>**rate of interest, collateral, par, or maturity value** | **(c) Description of investment including maturity date,** <br>**rate of interest, collateral, par, or maturity value** | **(d) Cost** | **(e) Current value** |
| **Interest Bearing Cash (including Money Market Funds)** | **Interest Bearing Cash (including Money Market Funds)** | | | | |
|  | Interest Bearing Cash | 3581332 | US dollars | \*\* | $3581332 |
|  | Vanguard Federal Money Market Fund | 181660 | shares | \*\* | 181660 |
|  |  |  |  |  | $**3762992** |
| **Corporate debt instruments** | **Corporate debt instruments** |  |  |  |  |
|  | CARVANA CO PIK VAR 06/01/2030 144A | 137624 | par | \*\* | 151105 |
|  | CARVANA CO PIK VAR 06/01/2031 144A | 163906 | par | \*\* | 196517 |
|  | CARVANA CO PIK VAR 12/01/2028 144A | 77295 | par | \*\* | 82533 |
|  |  |  |  |  | $**430155** |
| **Common/Collective Trust Funds** | **Common/Collective Trust Funds** |  |  |  |  |
|  | American Beacon Small Cap Value | 2087050 | units | \*\* | $44871372 |
| \* | Fidelity Managed Income Portfolio II Class 3 | 100288060 | units | \*\* | 100288060 |
|  | Harding Loevner International Equity Portfolio | 222582 | units | \*\* | 3630304 |
|  | BlackRock LifePath® Index 2030 Non-Lendable Fund M | 6909116 | units | \*\* | 121344105 |
|  | BlackRock LifePath® Index 2035 Non-Lendable Fund M | 6352235 | units | \*\* | 120939575 |
|  | BlackRock LifePath® Index 2040 Non-Lendable Fund M | 5554477 | units | \*\* | 113797912 |
|  | BlackRock LifePath® Index 2045 Non-Lendable Fund M | 4952694 | units | \*\* | 107651269 |
|  | BlackRock LifePath® Index 2050 Non-Lendable Fund M | 4545341 | units | \*\* | 102189274 |
|  | BlackRock LifePath® Index 2055 Non-Lendable Fund M | 3575313 | units | \*\* | 81114548 |
|  | BlackRock LifePath® Index 2060 Non-Lendable Fund M | 1847776 | units | \*\* | 41921236 |
|  | BlackRock LifePath® Index 2065 Non-Lendable Fund M | 579444 | units | \*\* | 9616911 |
|  | BlackRock LifePath® Index Retirement Non-Lendable Fund M | 9206022 | units | \*\* | 137360298 |
|  |  |  |  |  | $**984724864** |
| **Employer Securities** | **Employer Securities** |  |  |  |  |
|  | Fortive Corporation Stock Fund |  |  |  |  |
| \* | &nbsp;&nbsp;&nbsp;&nbsp;Fortive Corporation Common Stock | 481766 | shares | \*\* | $36132450 |
| \* | &nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio - Institutional Class | 435361 | US Dollars | \*\* | 435361 |
|  |  |  |  |  | $**36567811** |
| **Registered Investment Companies** | **Registered Investment Companies** |  |  |  |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Dodge & Cox International Stock Fund Class X | 1186737 | shares | \*\* | $59218164 |
| | Dodge & Cox Income Fund Class X | 2386517 | shares | \*\* | 29568945 |
| | PIMCO Inflation Response Multi-Asset Institutional | 868661 | shares | \*\* | 7079586 |
| | PIMCO Total Return Fund Institutional | 3486904 | shares | \*\* | 29568945 |
| \* | Fidelity® Extended Market Index Fund | 955074 | shares | \*\* | 86797147 |
| \* | Fidelity® 500 Index Fund | 1653290 | shares | \*\* | 337585189 |
| \* | Fidelity® Large Cap Growth Index Fund | 649502 | shares | \*\* | 25440998 |
|  | T. Rowe Price Treasury Reserve Fund | 100 | shares | \*\* | 100 |
|  | Vanguard Total Bond Market Index Fund Institutional Shares | 3566368 | shares | \*\* | 33809165 |
|  | Vanguard Total International Stock Index Fund Institutional Shares | 302031 | shares | \*\* | 38273357 |
|  |  |  |  |  | $**647341596** |
| **Common Stock** | **Common Stock** |  |  |  |  |
|  | AAON INC | 14923 | shares | \*\* | $1756139 |
|  | ADVANCED MICRO DEVICES INC | 859 | shares | \*\* | 103759 |
|  | ADYEN BV | 293 | shares | \*\* | 436135 |
|  | AGILYSYS INC | 6353 | shares | \*\* | 836754 |
|  | AIR PRODUCTS & CHEMICALS INC | 7236 | shares | \*\* | 2098729 |
|  | ALARM.COM HOLDINGS INC | 11670 | shares | \*\* | 709536 |
|  | ALPHABET INC CL A | 17033 | shares | \*\* | 3224347 |
|  | ALPHABET INC CL C | 80077 | shares | \*\* | 15249864 |
|  | ALTRIA GROUP INC | 19633 | shares | \*\* | 1026610 |
|  | AMAZON.COM INC | 97000 | shares | \*\* | 21280830 |
|  | APPLE INC | 103073 | shares | \*\* | 25811541 |
|  | ASML HLDG NV (NY REG SHS) | 2741 | shares | \*\* | 1899732 |
|  | ASTRAZENECA PLC SPONS ADR | 1959 | shares | \*\* | 128354 |
|  | ATLASSIAN CORP PLC CLS A | 543 | shares | \*\* | 132155 |
|  | AXOS FINANCIAL INC | 6603 | shares | \*\* | 461220 |
|  | AZENTA INC | 4626 | shares | \*\* | 231300 |
|  | BALCHEM CORP | 7290 | shares | \*\* | 1188234 |
|  | BARNES GROUP INC | 2483 | shares | \*\* | 117347 |
|  | BERKSHIRE HATHAWAY INC CL B | 4770 | shares | \*\* | 2162146 |
|  | BILL HOLDINGS INC | 4898 | shares | \*\* | 414910 |
|  | BIO TECHNE CORP | 9211 | shares | \*\* | 663468 |
|  | BIOLIFE SOLUTIONS INC | 7980 | shares | \*\* | 207161 |
|  | BLACKBAUD INC | 10994 | shares | \*\* | 812676 |
|  | BLACKLINE INC | 7716 | shares | \*\* | 468824 |
|  | BLACKROCK INC | 2128 | shares | \*\* | 2181434 |
|  | BRIGHT HORIZONS FAMILY SOLUTIONS INC | 5351 | shares | \*\* | 593158 |
|  | BROADCOM INC | 20245 | shares | \*\* | 4693601 |
|  | CARVANA CO CL A | 20649 | shares | \*\* | 4199181 |

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| | | | | |
|:---|:---|:---|:---|:---|
| CASELLA WASTE SYS INC CL A | 9710 | shares | \*\* | 1027415 |
| CBIZ INC | 4051 | shares | \*\* | 331493 |
| CERTARA INC | 50560 | shares | \*\* | 538464 |
| CHEVRON CORP | 7986 | shares | \*\* | 1156692 |
| CHIPOTLE MEXICAN GRILL INC | 36125 | shares | \*\* | 2178338 |
| CHUBB LTD | 8422 | shares | \*\* | 2326999 |
| CINCINNATI FINANCIAL CORP | 7561 | shares | \*\* | 1086516 |
| CINTAS CORP | 2653 | shares | \*\* | 484703 |
| CISCO SYSTEMS INC | 22150 | shares | \*\* | 1311280 |
| COLGATE-PALMOLIVE CO | 9260 | shares | \*\* | 841827 |
| COMCAST CORP CL A | 19371 | shares | \*\* | 726994 |
| CONFLUENT INC | 7123 | shares | \*\* | 199159 |
| CONSTELLATION ENERGY CORP | 7741 | shares | \*\* | 1731739 |
| CONSTRUCTION PARTNERS INC CL A | 23385 | shares | \*\* | 2068637 |
| CROWDSTRIKE HOLDINGS INC | 1889 | shares | \*\* | 646340 |
| CROWN CASTLE INC | 8757 | shares | \*\* | 794785 |
| DANAHER CORP | 7044 | shares | \*\* | 1616950 |
| DATABRICKS INC SER G PC PP | 1227 | shares | \*\* | 113498 |
| DATADOG INC CL A | 3106 | shares | \*\* | 443816 |
| DESCARTES SYS GROUP INC | 13074 | shares | \*\* | 1485206 |
| DIAGEO PLC SPON ADR | 7178 | shares | \*\* | 912539 |
| DIGI INTERNATIONAL INC | 15464 | shares | \*\* | 467477 |
| DOLLAR GENERAL CORP | 1204 | shares | \*\* | 91287 |
| DOMINION ENERGY INC | 24009 | shares | \*\* | 1293125 |
| DONALDSON CO INC | 6565 | shares | \*\* | 442153 |
| DOORDASH INC | 5519 | shares | \*\* | 925812 |
| DORMAN PRODUCTS INC | 4068 | shares | \*\* | 527009 |
| DOUBLEVERIFY HOLDINGS INC | 24776 | shares | \*\* | 475947 |
| ELEVANCE HEALTH INC | 1615 | shares | \*\* | 595774 |
| ELI LILLY & CO | 9365 | shares | \*\* | 7229780 |
| EPLUS INC | 8250 | shares | \*\* | 609510 |
| ESCO TECHNOLOGIES INC | 7907 | shares | \*\* | 1053291 |
| EXLSERVICE HOLDINGS INC | 40833 | shares | \*\* | 1812169 |
| EXPONENT INC | 13799 | shares | \*\* | 1229491 |
| FASTENAL CO | 16663 | shares | \*\* | 1198236 |
| FIDELITY NATL INFORM SVCS INC | 19179 | shares | \*\* | 1549088 |
| FIRSTSERVICE CORP | 2247 | shares | \*\* | 406752 |
| FISERV INC | 2849 | shares | \*\* | 585242 |
| FORTINET INC | 479 | shares | \*\* | 45256 |
| FOX FACTORY HOLDING CORP | 5164 | shares | \*\* | 156314 |

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| | | | | |
|:---|:---|:---|:---|:---|
| GE AEROSPACE | 9247 | shares | \*\* | 1542307 |
| GE VERNOVA INC | 1899 | shares | \*\* | 624638 |
| GLOBUS MEDICAL INC | 16466 | shares | \*\* | 1361903 |
| GOLDMAN SACHS GROUP INC | 1867 | shares | \*\* | 1069082 |
| GROCERY OUTLET HOLDING CORP | 15485 | shares | \*\* | 241721 |
| HAMILTON LANE INC - A | 2438 | shares | \*\* | 360946 |
| HEALTHEQUITY INC | 8812 | shares | \*\* | 845511 |
| HUMANA INC | 2406 | shares | \*\* | 610426 |
| I3 VERTICALS INC CL A | 16865 | shares | \*\* | 388570 |
| INTUIT INC | 2441 | shares | \*\* | 1534169 |
| INTUITIVE SURGICAL INC | 7470 | shares | \*\* | 3899041 |
| J&J SNACKS FOOD CORP | 4647 | shares | \*\* | 720889 |
| JOHNSON & JOHNSON | 9483 | shares | \*\* | 1371431 |
| KINSALE CAPITAL GROUP INC | 3634 | shares | \*\* | 1690282 |
| LAM RESEARCH CORP | 1261 | shares | \*\* | 91082 |
| LEMAITRE VASCULAR INC | 8164 | shares | \*\* | 752231 |
| LINDE PLC | 1982 | shares | \*\* | 829804 |
| LOWES COS INC | 7069 | shares | \*\* | 1744629 |
| LULULEMON ATHLETICA INC | 1162 | shares | \*\* | 444360 |
| MARSH & MCLENNAN COS INC | 4686 | shares | \*\* | 995353 |
| MARTEN TRANSPORT LTD | 30102 | shares | \*\* | 469892 |
| MASTERCARD INC CL A | 10913 | shares | \*\* | 5746458 |
| MERCK & CO INC NEW | 13108 | shares | \*\* | 1303984 |
| MESA LABORATORIES INC | 1779 | shares | \*\* | 234597 |
| META PLATFORMS INC CL A | 26027 | shares | \*\* | 15239069 |
| MICROSOFT CORP | 71580 | shares | \*\* | 30170970 |
| MONDELEZ INTL INC | 6513 | shares | \*\* | 389021 |
| MONGODB INC CL A | 909 | shares | \*\* | 211624 |
| MONOLITHIC POWER SYS INC | 1633 | shares | \*\* | 966246 |
| MORGAN STANLEY | 8912 | shares | \*\* | 1120417 |
| MSCI INC | 81 | shares | \*\* | 48601 |
| NEOGEN CORP | 19525 | shares | \*\* | 237034 |
| NESTLE SA REG ADR | 9346 | shares | \*\* | 763568 |
| NETFLIX INC | 5705 | shares | \*\* | 5084981 |
| NIKE INC CL B | 983 | shares | \*\* | 74384 |
| NINTENDO LTD ADR | 103070 | shares | \*\* | 1507914 |
| NORFOLK SOUTHERN CORP | 7057 | shares | \*\* | 1656278 |
| NORTHROP GRUMMAN CORP | 2569 | shares | \*\* | 1205606 |
| NOVANTA INC | 7772 | shares | \*\* | 1187328 |
| NV5 GLOBAL INC | 16327 | shares | \*\* | 307601 |

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| | | | | |
|:---|:---|:---|:---|:---|
| NVIDIA CORP | 221791 | shares | \*\* | 29784313 |
| OLD DOMINION FREIGHT LINES INC | 3552 | shares | \*\* | 626573 |
| OLLIES BARGAIN OUTLET HOLDINGS INC | 9197 | shares | \*\* | 1009187 |
| ONTO INNOVATION INC | 9336 | shares | \*\* | 1556031 |
| OPTION CARE HEALTH INC | 7394 | shares | \*\* | 171541 |
| PALOMAR HLDGS INC | 3156 | shares | \*\* | 333242 |
| PAYCHEX INC | 9793 | shares | \*\* | 1373174 |
| PHILIP MORRIS INTL INC | 16584 | shares | \*\* | 1995884 |
| PROCTER & GAMBLE CO | 4105 | shares | \*\* | 688203 |
| PROGRESSIVE CORP OHIO | 8018 | shares | \*\* | 1921193 |
| RBC BEARINGS INC | 5206 | shares | \*\* | 1557323 |
| ROPER TECHNOLOGIES INC | 2405 | shares | \*\* | 1250239 |
| ROSS STORES INC | 7252 | shares | \*\* | 1097010 |
| S&P GLOBAL INC | 1959 | shares | \*\* | 975641 |
| SCHLUMBERGER LTD | 12489 | shares | \*\* | 478828 |
| SCHWAB CHARLES CORP | 31429 | shares | \*\* | 2326060 |
| SEA LTD ADR | 7955 | shares | \*\* | 844026 |
| SERVICENOW INC | 5310 | shares | \*\* | 5629237 |
| SHERWIN WILLIAMS CO | 2601 | shares | \*\* | 884158 |
| SHOPIFY INC CL A | 17210 | shares | \*\* | 1829992 |
| SITEONE LANDSCAPE SUPPLY INC | 6839 | shares | \*\* | 901175 |
| SNOWFLAKE INC CL A | 239 | shares | \*\* | 36904 |
| SPS COMMERCE INC | 5556 | shares | \*\* | 1022248 |
| SPX TECHNOLOGIES INC | 4228 | shares | \*\* | 615259 |
| STAAR SURGICAL CO NEW | 6468 | shares | \*\* | 157108 |
| STARBUCKS CORP | 14103 | shares | \*\* | 1286899 |
| STRYKER CORP | 3439 | shares | \*\* | 1238212 |
| SYNOPSYS INC | 4031 | shares | \*\* | 1956486 |
| TAIWAN SEMIC MFG CO LTD SP ADR | 5655 | shares | \*\* | 1116806 |
| TE CONNECTIVITY PLC | 14692 | shares | \*\* | 2100515 |
| TESLA INC | 19451 | shares | \*\* | 7855092 |
| TEXAS INSTRUMENTS INC | 11917 | shares | \*\* | 2234557 |
| TEXAS ROADHOUSE INC | 8667 | shares | \*\* | 1563787 |
| THE BOOKING HOLDINGS INC | 470 | shares | \*\* | 2335157 |
| THERMO FISHER SCIENTIFIC INC | 2937 | shares | \*\* | 1527916 |
| TJX COMPANIES INC NEW | 8400 | shares | \*\* | 1014804 |
| T-MOBILE US INC | 11079 | shares | \*\* | 2445468 |
| TRANSDIGM GROUP INC | 499 | shares | \*\* | 632373 |
| TREX CO INC | 14045 | shares | \*\* | 969526 |
| TYLER TECHNOLOGIES INC | 1273 | shares | \*\* | 734063 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | UFP TECHNOLOGIES INC | 742 | shares | \*\* | 181426 |
| | UNITED PARCEL SERVICE INC CL B | 7659 | shares | \*\* | 965800 |
| | UNITEDHEALTH GROUP INC | 6534 | shares | \*\* | 3305289 |
| | VALVOLINE INC | 11958 | shares | \*\* | 432640 |
| | VERALTO CORP | 1693 | shares | \*\* | 172432 |
| | VERICEL CORP | 10460 | shares | \*\* | 574359 |
| | VERTEX INC - CLASS A | 12447 | shares | \*\* | 664047 |
| | VISA INC CL A | 22147 | shares | \*\* | 6999338 |
| | WD 40 CO | 1977 | shares | \*\* | 479778 |
| | WILLSCOT HOLDINGS CORP | 6770 | shares | \*\* | 226457 |
| | ZOETIS INC CL A | 219 | shares | \*\* | 35682 |
| | | | | | $**326963654** |
| **Brokeragelink** | **Brokeragelink** |  |  |  |  |
|  | Brokeragelink | Combination of common stock, mutual funds, and ETF's | Combination of common stock, mutual funds, and ETF's |  | $**116896245** |
|  |  |  |  | **Total** | $**2116687317** |
| **Loans** | **Loans** |  |  |  |  |
| \* | Participant Loans | Interest rates range from 4.25% to 9.5% with maturity at various dates | Interest rates range from 4.25% to 9.5% with maturity at various dates | \*\* | $**19218295** |
| **\*** Party in interest. | **\*** Party in interest. | **\*** Party in interest. | **\*** Party in interest. | **\*** Party in interest. | **\*** Party in interest. |
| **\*\*** Historical cost not required to be presented as all investments are participant-directed. | **\*\*** Historical cost not required to be presented as all investments are participant-directed. | **\*\*** Historical cost not required to be presented as all investments are participant-directed. | **\*\*** Historical cost not required to be presented as all investments are participant-directed. | **\*\*** Historical cost not required to be presented as all investments are participant-directed. | **\*\*** Historical cost not required to be presented as all investments are participant-directed. |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **FORTIVE RETIREMENT SAVINGS PLAN** | **FORTIVE RETIREMENT SAVINGS PLAN** |
| June 23, 2025 | By: | /s/ Simon Grace |
|  |  | Simon Grace |
|  |  | Vice President, Total Rewards |

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 23.1 | <u>[Consent of Independent Registered Public Accounting Firm](a2024rspexhibit231.htm)</u> |

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## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-212348) pertaining to the Retirement Savings Plan of Fortive Corporation of our report dated June 23, 2025, with respect to the financial statements and schedule of the Fortive Retirement Savings Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2024.

/s/ Ernst & Young LLP

Seattle, Washington

June 23, 2025

<br>