Form 8-K/A · Amended current report
Fastenal 8-K/A, filed Jul 16, 2026
- Filed
- CIK
- 0000815556
- Accession no.
- 0000815556-26-000043
Summary
Fastenal's board elected Scott Watts, the company's President and Chief Sales Officer, as a director effective on the CEO transition date, succeeding Daniel L. Florness, and the compensation committee approved his package as President and CEO, including a $650,000 annual base salary and quarterly cash incentives tied to pre-tax income growth.
Key points
- Watts will serve as a director until the next annual shareholders meeting or until a successor is elected and qualified.
- As an employee director, Watts receives a $50,000 annual cash retainer, prorated from the CEO transition date.
- His quarterly cash incentive targets 1.75% of the amount by which company-wide quarterly pre-tax income exceeds the same quarter of the prior year.
- No additional equity incentive awards will be granted to Watts in 2026, with eligibility for equity awards in 2027.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
From the filing
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of New Director As previously reported, on December 19, 2025, the Board appointed Mr. Watts, Fastenal's President and Chief Sales Officer, as Fastenal's President and CEO, effective as of the CEO Transition Date. On July 10, 2026, the Board elected Mr. Watts as a director of the Company to succeed Daniel L. Florness, effective as of the CEO Transition Date. Mr. Watts was elected to serve as a director until the Company's next annual meeting of shareholders or until his successor is duly elected and qualified. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.