Franklin Electric (FELE) Proxy Filing summary

Executive summary

• Annual meeting scheduled for May 2, 2025, with key votes on director elections, auditor ratification, and executive compensation.

• CEO transition occurred in July 2024, with a renewed focus on growth, innovation, and employee engagement.

• 2024 financial results showed sales of $2.02 billion, a 2% decrease from the prior year, with operating income and EPS also declining.

• Major acquisitions in 2024 and 2025 expanded the Water Systems segment's global reach.

Voting matters and shareholder proposals

• Shareholders will vote to elect three directors for terms expiring in 2028.

• Ratification of Deloitte & Touche LLP as independent auditor for 2025 is on the agenda.

• Advisory vote on executive compensation (say-on-pay) is included.

• Shareholder proposals for the 2026 meeting must be submitted by November 18, 2025.

Board of directors and corporate governance

• Board consists of nine members, with a majority being independent.

• Board committees: Audit, Compensation, and Governance, all comprised of independent directors.

• Lead Independent Director role is held by Jennifer L. Sherman.

• Board diversity includes two female and two racially/ethnically diverse directors.

• Updated Corporate Governance Guidelines and Code of Conduct are in place.