8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 4, 2020

Graco Inc.

(Exact name of registrant as specified in charter)

Minnesota	001-09249	41-0285640
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

88 – 11th Avenue Northeast
Minneapolis,	Minnesota	55413
(Address of principal executive offices)		(Zip Code)

 

(612)	623-6000
Registrant’s telephone number, including area code

Not Applicable

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	GGG	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 4, 2020, the Board of Directors (the “Board”) of Graco Inc. (the “Company”) appointed Mr. Brett C. Carter to serve as a director of the Company, effective February 11, 2021. Mr. Carter was appointed to the class of directors whose terms expire at the 2021 annual meeting of shareholders of the Company.

Mr. Carter has been appointed to serve on the Board’s Audit Committee and Management Organization and Compensation Committee, effective February 11, 2021. In connection with his appointment, Mr. Carter will be receiving the standard director compensation as referenced in our Proxy Statement for the 2020 Annual Meeting.

Item 9.01.    Financial Statements and Exhibits.

(d)    Exhibits

99.1     Press Release dated December 4, 2020.

104    Cover Page Interactive Data File (included within the Inline XBRL document).

Signature

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.

			GRACO INC.
Date:	December 4, 2020	By:	/s/ Karen Park Gallivan
			Karen Park Gallivan
			Its: Executive Vice President, General Counsel and Corporate Secretary

EX-99.1

Exhibit 99.1	GRACO INC.
	P.O. Box 1441
	Minneapolis, MN
	55440-1441
	NYSE: GGG

FOR IMMEDIATE RELEASE:	FOR FURTHER INFORMATION:
December 4, 2020	Financial Contact: Mark Sheahan, 612-623-6656 Media Contact: Charlotte Boyd, 612-623-6153 Charlotte_M_Boyd@graco.com

Graco Appoints Brett C. Carter to the Board of Directors

MINNEAPOLIS (Dec. 4, 2020) – Graco Inc. (NYSE:GGG) announced today that Brett C. Carter has been appointed as a member of the Company’s Board of Directors, effective Feb. 11, 2021.

Mr. Carter serves as Executive Vice President and Chief Customer and Innovation Officer of Xcel Energy Inc., a major U.S. electric and natural gas delivery company. He assumed this position in May 2018. Prior to that, Mr. Carter served as Senior Vice President and Shared Services Executive of Bank of America from October 2015 to May 2018, and as Senior Vice President and Chief Operating Officer of Bank of America from March 2015 to October 2015. Before joining Bank of America, Mr. Carter held several leadership roles at Duke Energy Co. from 2005 to 2015, including most recently as Senior Vice President and Chief Distribution Officer from February 2013 to March 2015.

“On behalf of our Board of Directors and Management team, I want to formally welcome Brett to Graco,” said Lee R. Mitau, Graco’s Chairman of the Board. “We’re looking forward to Brett bringing his substantial experience in operations, marketing, information technology, cyber and physical security, customer service and brand strategy to the Board. Brett’s passion for developing strong customer relationships will be a great fit for Graco as we deliver on our promise of providing A+ service to every customer, every time.”

Mr. Carter will serve on the Company’s Audit Committee and its Management Organization and Compensation Committee.

ABOUT GRACO

Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.

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XML

Document and Entity Information Document	Dec. 04, 2020
Document [Abstract]
Document Type	8-K
Document Period End Date	Dec. 04, 2020
Entity Registrant Name	Graco Inc.
Entity Incorporation, State or Country Code	MN
Entity File Number	001-09249
Entity Tax Identification Number	41-0285640
Entity Address, Address Line One	88 – 11th Avenue Northeast
Entity Address, City or Town	Minneapolis,
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55413
City Area Code	(612)
Local Phone Number	623-6000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	GGG
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0000042888
Amendment Flag	false