Key Highlights

  • Executive Vice President and CFO exited Pentair to join a private firm.
  • Robert P. Fishman assumed interim CFO duties with a base pay of $125,000 per month.
  • The interim executive also receives a restricted stock unit award valued at $1,000,000, subject to the company’s standard vesting conditions.

Pentair plc (NYSE: PNR) filed a regulatory update indicating that its Executive Vice President and Chief Financial Officer resigned effective recently. The departure was made to pursue a role at a privately held organization, prompting the board to name an interim CFO the same day.

Interim CFO Appointment

The board selected Robert P. Fishman to serve as interim chief financial officer. Fishman previously held senior finance positions within Pentair, providing continuity ahead of the next reporting cycle.

Compensation Package

The Compensation Committee approved a remuneration package for the interim role that includes a monthly base salary of $125,000. In addition, Fishman was granted a restricted stock unit award worth $1,000,000, which will vest in accordance with the company’s standard RSU vesting schedule.

Governance and Severance Adjustments

While Fishman serves in the interim capacity, the severance benefits previously available under the Pentair Executive Officer Severance Plan are placed on hold. Those payments will reactivate once his interim tenure concludes, aligning incentives with current responsibilities.

Non‑GAAP Financial Measures Context

Pentair's filing referenced adjusted operating income, return on sales, and EBITDA as non‑GAAP metrics used for internal performance tracking and executive compensation. The company clarified that these adjusted figures exclude items such as intangible amortization and certain restructuring costs, but did not disclose specific numeric outcomes for the quarter.

Historical Leadership Timeline

Fishman's career includes senior finance roles at NCR Corporation, where he served in executive finance capacities for several years. Prior experience also spans roles as Vice President and Corporate Controller, providing Pentair with seasoned oversight during the transition.

Regulatory Filing Summary

The filing satisfies United States Securities and Exchange Commission requirements for disclosure of executive changes and related compensation. No additional pro forma financial data or shell company transactions were reported.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.