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
April 22, 2020
Date of Report (Date of earliest event reported)
TechnipFMC plc
(Exact name of registrant as specified in its charter)
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| United Kingdom | | 001-37983 | | 98-1283037 |
| (State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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| One St. Paul’s Churchyard | | | | |
| London | | | | |
| United Kingdom | | | | EC4M 8AP |
| (Address of principal executive offices) | | | | (Zip Code) |
+44 203-429-3950
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
______________________________________________________
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| Securities registered pursuant to Section 12(b) of the Act: |
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
| Ordinary shares, $1.00 par value per share | FTI | New York Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act: None. |
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:
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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. ☐
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| Item 2.02 | Results of Operations and Financial Condition |
On April 22, 2020, TechnipFMC plc (the "Company") issued a news release announcing its financial results for the fiscal quarter ended March 31, 2020. A copy of the news release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
(e) In light of the impact on the Company of the ongoing COVID-19 (coronavirus) pandemic and current market conditions, the Company announced revisions to compensation effective May 1, 2020 through the end of the year, which include a 30 percent reduction in the Chairman and Chief Executive Officer’s salary; a 30 percent reduction in the Company’s Board of Directors’ retainers; and a 20 percent reduction to the Executive Leadership team’s salaries, which include the Company’s other Named Executive Officers (as named in the Company’s 2020 Proxy Statement filed on March 13, 2020).
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| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
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| 99.1 | News Release issued by the Company dated April 22, 2020 |
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| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |
EXHIBIT INDEX
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| Exhibit Number | | Exhibit Description |
| 99.1 | | |
| 104 | | Inline XBRL for the cover page of this Current Report on Form 8-K |
SIGNATURES
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.
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| | | TechnipFMC plc |
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| | | By: /s/ Maryann T. Mannen |
| Dated: | April 22, 2020 | Name: Maryann T. Mannen |
| | | Title: Executive Vice President and Chief Financial Officer |
