Monitor future earnings reports to assess whether the company meets the disclosed EBITDA and cash flow targets for executive incentive payouts. The unchanged LTI multiples and salary increases suggest stable executive compensation, which may influence investor perception of management continuity and cost discipline.
Price Chart
Executive Summary
Leggett & Platt filed an 8-K to disclose the approval of 2026 base salaries, incentive plan target percentages, and long-term incentive award multiples for its named executive officers. The filing also details the performance metrics and thresholds for cash and equity incentives, including EBITDA, cash flow, and relative total shareholder return targets. No material financial results or operational changes were reported.
Key Facts
- 2026 base salaries were approved for named executive officers, with CEO Karl Glassman's salary increasing from $1,275,000 to $1,315,000.
- Target percentages under the Key Officers Incentive Plan (KOIP) were set, with the CEO's target remaining at 135%.
- Long-term incentive (LTI) award multiples were maintained for 2026, with the CEO's multiple unchanged at 570%.
- Performance metrics for cash incentives include EBITDA and cash flow/FCF, with specific threshold, target, and maximum payout levels disclosed.
- Performance stock units (PSUs) are tied to EBITDA, ROIC, and relative TSR over a three-year period from 2026 to 2028.
Financial Impact
Not specified
Risk Factors
- Failure to meet EBITDA or cash flow targets could result in reduced executive incentives, potentially affecting retention.
- The relative TSR multiplier for PSUs introduces market performance risk, which could dilute shareholder value if stock performance lags peers.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-067008 |
| Document: d29281dex104.htm | 0001193125-26-067008 |
| Document: d29281dex102.htm | 0001193125-26-067008 |
| Document: d29281dex101.htm | 0001193125-26-067008 |
| Document: 0001193125-26-067008-index-headers.html | 0001193125-26-067008 |
| Document: 0001193125-26-067008-index.html | 0001193125-26-067008 |
| Document: 0001193125-26-067008.txt | 0001193125-26-067008 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 8, 2026 5w ago | 15-12G | — | awaiting T+1 | — | — |
Sep 8, 2026 5w ago | 15-12G | — | awaiting T+1 | — | — |
Aug 26, 2026 7w ago | 8-K | $9.20 $9.20 | · 0.00% | ▼ −0.66% | — |
Aug 25, 2026 7w ago | 8-K | $9.32 $9.20 | ▼ −1.29% | ▼ −1.31% | — |
Jun 4, 2026 19w ago | 425 | $10.20 $10.01 | ▼ −1.86% | ▲ +0.74% | — |
Jun 4, 2026 19w ago | 8-K | $10.20 $10.01 | ▼ −1.86% | ▲ +0.74% | — |
May 7, 2026 23w ago | 8-K | $10.30 $10.06 | ▲ +2.33% | ▲ +3.16% | — |
Apr 13, 2026 26w ago | 425 | $11.50 $11.35 | ▼ −1.30% | ▼ −2.08% | — |
Apr 13, 2026 27w ago | 425 | $11.25 $11.50 | ▲ +2.22% | ▲ +1.01% | — |
Apr 13, 2026 27w ago | 8-K | $11.25 $11.50 | ▲ +2.22% | ▲ +1.01% | — |
US Market Status
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