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

On August 9, 2021, the Board of Directors of Parker-Hannifin Corporation (the "Company") elected Lee C. Banks, age 58, to a new role as the Vice Chairman and President of the Company and Jennifer A. Parmentier, age 54, to the role of Chief Operating Officer, in each case effective August 9, 2021.

Mr. Banks had been President and Chief Operating Officer of the Company since February 2015. Mr. Banks is not a party to any transaction described in Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries. In connection with Mr. Banks' election as Vice Chairman and President, the Human Resources and Compensation Committee of the Board of Directors of the Company took no actions regarding Mr. Banks' compensation.

Ms. Parmentier had been Vice President and President - Motion Systems Group since February 2019. Prior to that, she served as Vice President and President - Engineered Materials Group from September 2015 to February 2019. Ms. Parmentier is not a party to any transaction described in Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries.

In connection with Ms. Parmentier's appointment as Chief Operating Officer of the Company, the Human Resources and Compensation Committee of the Board of Directors of the Company took the following actions regarding Ms. Parmentier's compensation:





  1. approved an increase in Ms. Parmentier's annual base salary to $750,000;




    2.   awarded an increase in Ms. Parmentier's General RONA Bonus target payout
         amount to $412,500;




    3.   awarded an increase in Ms. Parmentier's Target Incentive Bonus target
         award to a target amount of $337,500; and




  4. granted Ms. Parmentier the following additional target LTIP award shares:




                            Additional
                              Target
                               LTIP
                              Award
LTIP Award                    Shares
Calendar Year 2019-20-21            763
Calendar Year 2020-21-22          2,067
Calendar Year 2021-22-23          2,714

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