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WAT Waters

 

 

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

Date of Report (Date of earliest event reported): April 28, 2020

 

Waters Corporation

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

 

01-14010

 

13-3668640

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

34 Maple Street

Milford, Massachusetts 01757

(Address of Principal Executive Offices) (Zip Code)

(508) 478-2000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

 

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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common stock, par value $0.01 per share

 

WAT

 

New York Stock Exchange, Inc.

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.  

 

 


Item 2.02Results of Operations and Financial Condition

On April 28, 2020, Waters Corporation (the “Company”) announced its results of operations for the quarter ended March 28, 2020. A copy of the related press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.

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

On April 28, 2020, the Company announced that, given the uncertain global business environment relating to the COVID-19 pandemic and the anticipated impact on its business, it has implemented a comprehensive program to reduce its cost base. As part of this program, the Company and each member of the Company’s Executive Committee have agreed to a temporary reduction in base salary for the 90-day period beginning on April 26, 2020. The Company’s Chief Executive Officer, Christopher J. O’Connell, has agreed to a 40% reduction in base salary. Each of the Company’s named executive officers, Sherry L. Buck, Keeley A. Aleman, Michael C. Harrington and Jonathan M. Pratt, has agreed to a 30% reduction in base salary.

Item 9.01Financial Statements and Exhibits

Exhibit

Number

  

Description

     
 

99.1

  

Waters Corporation press release dated April 28, 2020 for the quarter ended March 28, 2020.

     
 

104

  

Cover Page Interactive Data File (embedded within the Inline XBRL document).


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.

 

 

WATERS CORPORATION

       

 

 

By:

 

/s/ Sherry L. Buck

 

 

Name:

 

Sherry L. Buck

 

 

Title:

 

Senior Vice President and Chief Financial Officer

Dated: April 28, 2020