SEC Form 8-K filed by Stanley Black & Decker Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 31, 2025, Stanley Black & Decker, Inc. (the “Company”) and Tamer K. Abuaita, the Company’s Global Chief Supply Chain Officer and President, Industrial, entered into a Transition and Release Agreement (the “Transition Agreement”), pursuant to which Mr. Abuaita will transition from his current role to a new position as a Senior Advisor to the Company effective May 1, 2025 (the “Transition Date”). Mr. Abuaita’s employment as Senior Advisor will continue for one year following the Transition Date, unless earlier terminated in accordance with the terms of the Transition Agreement. Mr. Abuaita’s transition is occurring within the context of a broader strategic realignment of the Company’s Global Supply Chain function as the Company nears the completion of its previously announced global supply chain transformation. As part of this realignment, the Company is returning major portions of supply chain responsibility to its business operating structures to drive deeper connections across end users, customers and the business to fuel future growth.
While serving as senior advisor, Mr. Abuaita will continue to receive his current base salary, remain eligible to receive certain Company-provided benefits, and continue to vest in his outstanding equity awards while serving as Senior Advisor, subject to the terms of the applicable award agreements and applicable law. In addition, Mr. Abuaita will receive a pro-rated award under the Management Incentive Compensation Plan for 2025 through the Transition Date, based on actual performance, and six months of Company-provided outplacement services. Following his service as Senior Advisor and subject to his execution and non-revocation of a release of claims, Mr. Abuaita will receive one year of continued base salary as a severance payment and six months of Company-subsidized continued group health plan coverage. All of Mr. Abuaita’s benefits under the Transition Agreement are subject to his continued compliance with customary restrictive covenants, including non-competition and non-solicitation obligations.
The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transition Agreement attached as Exhibit 10.1 hereto.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number |
Description | |
| 10.1 | Transition and Release Agreement, dated March 31, 2025, by and between Stanley Black & Decker, Inc. and Tamer K. Abuaita. | |
| 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.
| STANLEY BLACK & DECKER, INC. | ||||||
| Date: April 3, 2025 | ||||||
| By: | /s/ Janet M. Link | |||||
| Name: | Janet M. Link | |||||
| Title: | Senior Vice President, General | |||||
| Counsel and Secretary | ||||||