Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On November 4, 2021, the Board of Directors (the "Board") of Fortive Corporation
(the "Company") approved an increase in the size of the Board, effective
January 1, 2022, from eight to nine members and appointed Wright Lassiter III to
the Board with a term commencing on January 1, 2022 and expiring at the 2022
Annual Meeting of Shareholders and until his successor is duly elected and
qualified.
As a non-employee director, Mr. Lassiter will receive the same compensation paid
to other non-employee directors of the Company as disclosed in Exhibit 10.1 to
the Company's Quarterly Report on Form 10-Q for the quarter ended October 1,
2021, which is incorporated by reference herein. Mr. Lassiter has also entered
into an indemnification agreement with the Company, the form of which is
disclosed as Exhibit 10.10 to Amendment No. 2 to the Company's Registration
Statement on Form 10, filed on April 7, 2016 and is incorporated by reference
herein.
In connection with the appointment of Mr. Lassiter, the Board also determined
that Mr. Lassiter is independent within the meaning of the listing standards of
the New York Stock Exchange.
There is no arrangement or understanding between Mr. Lassiter and any other
person pursuant to which he was selected as a director of the Company.
Furthermore, there are no transactions in which Mr. Lassiter has an interest
requiring disclosure under Item 404(a) of Regulation S-K.
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