0001127602-20-006126.txt : 20200218 0001127602-20-006126.hdr.sgml : 20200218 20200218171242 ACCESSION NUMBER: 0001127602-20-006126 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200213 FILED AS OF DATE: 20200218 DATE AS OF CHANGE: 20200218 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Strege Richard K CENTRAL INDEX KEY: 0001700758 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-07724 FILM NUMBER: 20626341 MAIL ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Snap-on Inc CENTRAL INDEX KEY: 0000091440 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 390622040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 BUSINESS ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 BUSINESS PHONE: 2626565200 MAIL ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 FORMER COMPANY: FORMER CONFORMED NAME: SNAP-ON Inc DATE OF NAME CHANGE: 20080918 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON INC DATE OF NAME CHANGE: 19940519 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON TOOLS CORP DATE OF NAME CHANGE: 19920703 4 1 form4.xml PRIMARY DOCUMENT X0306 4 2020-02-13 0000091440 Snap-on Inc SNA 0001700758 Strege Richard K SNAP-ON INCORPORATED 2801 80TH STREET KENOSHA WI 53143 1 Vice President & Controller Common Stock 2020-02-13 4 M 0 216 A 1865.1113 D Common Stock 2020-02-13 4 F 0 93 155.34 D 1772.1113 D Performance Units 2020-02-13 4 D 0 132 D Common Stock 132 216 D Performance Units 2020-02-13 4 M 0 216 D Common Stock 216 0 D Restricted Stock Units 2020-02-13 4 D 0 672 D Common Stock 672 0 D Stock Option (Right to Buy) 155.34 2020-02-13 4 A 0 5300 0 A 2021-02-13 2030-02-13 Common Stock 5300 5300 D Restricted Stock Units 2020-02-13 4 A 0 668 0 A Common Stock 668 668 D Performance Units 2020-02-13 4 A 0 668 0 A Common Stock 668 668 D Stock Option (Right to Buy) 144.69 2025-02-12 Common Stock 3067 3067 D Stock Option (Right to Buy) 138.03 2026-02-11 Common Stock 4800 4800 D Stock Option (Right to Buy) 168.70 2027-02-09 Common Stock 5000 5000 D Stock Option (Right to Buy) 161.18 2019-02-15 2028-02-15 Common Stock 4774 4774 D Stock Option (Right to Buy) 155.92 2020-02-14 2029-02-14 Common Stock 5000 5000 D Restricted Stock Units Common Stock 433 433 D Performance Units Common Stock 554 554 D Performance Units Common Stock 672 672 D Deferred Stock Units Common Stock 1978.1865 1978.1865 D Based on Company performance during the 2017-2019 period, approximately 62.0% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits). Shares were withheld to cover tax withholding upon the vesting of performance units. 1 for 1. Based on the Company's performance during fiscal 2019, the restricted stock units granted in fiscal 2019 were not earned and, as a result, the awards were forfeited. Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column. This transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option. The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2020. Assuming continued employment through the end of fiscal 2022, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum number is 200% of the number reported, subject to plan limits. If the Company achieves certain goals over the 2020-2022 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. Option fully vested. The restricted stock units were earned based on Company performance during fiscal 2018. Assuming continued employment through the end of fiscal 2020, the units will then vest in one installment and the shares will be issued shortly thereafter. If the Company achieves certain goals over the 2018-2020 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. If the Company achieves certain goals over the 2019-2021 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment. This information is based on a plan statement dated December 31, 2019. /s/ Ryan S. Lovitz under Power of Attorney for Richard K. Strege 2020-02-18 EX-24 2 doc1.txt POWER OF ATTORNEY (PUBLIC): POWER OF ATTORNEY POWER OF ATTORNEY Know all by these presents, that the undersigned hereby constitutes and appoints each of Richard T. Miller, Mary E. Bauerschmidt, Kenneth V. Hallett, Mitchell Lindstrom and Ryan S. Lovitz, signing singly, and with full power of substitution, as the undersigned?s true and lawful attorney-in -fact to: (1) execute for and on behalf of the undersigned, in the undersigned?s capacity as an officer and/or director of Snap-on Incorporated (the ?Company?), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder (the ?Exchange Act?), Form 144 in accordance with Rule 144 under the Securities Act of 1933 (?Rule 144?) and any other forms or reports, including, but not limited to, a Form ID, that the undersigned may be required to file in connection with the undersigned?s ownership, acquisition or disposition of securities of the Company; (2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or 5, Form 144 or other form or report, complete and execute any amendment or amendments thereto and timely file such form or report with the Securities and Exchange Commission and any stock exchange or similar authority; and (3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney in fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney in fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney in fact may approve in such attorney in fact?s discretion. The undersigned hereby grants to each such attorney in fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney in fact, or such attorney in fact?s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted.The undersigned acknowledges that the foregoing attorneys in fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned?s responsibilities to comply with Section 16 of the Exchange Act or Rule 144. This Power of Attorney revokes any previous Power of Attorney filed with the Company for the purposes set forth herein and shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned?s holdings of and transactions in securities issued by the Company, unless expressly revoked before that time. IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 27th day of February 2019. /s/ Richard K. Strege Richard K. Strege