Franklin Electric : 2026 Sustainability Report
FELE
Published on 05/04/2026 at 05:09 pm EDT
2026 Sustainability Report
Welcome 4
About this Report 4
A Message from Our Chief Executive Officer 5
Company Overview 7
Our History 8
Corporate Governance 11
Board of Directors 12
Executive Officers 14
Committees 18
Financial Summary 23
Operations 27
Water Systems 30
Water Treatment 34
Distribution 36
Energy Systems 37
Supply Chain 38
Moving Forward 42
Commitment to Safety 43
Safety Award Program 44
Compliance with Laws 47
Code of Conduct 48
Anti-Corruption and Anti-Bribery 49
Discrimination 49
Forced Labor 49
Conflicts of Interest and Related Party Transactions 50
Non-Retaliation Policy 50
Environmental Compliance 50
Cybersecurity 51
Compliance Training 51
Environmental Impact 53
Environmental Impact Data 54
Product Spotlights 63
VersaBoost™ Pro 64
Neutralizer Condensate Pumps 65
INCON® Optimizer3 Circuit Breaker Monitor 66
Guardian Series™ Variable Frequency Controller 67
PureChoice™ Elite Plus Reverse Osmosis Drinking Water System 68
Commitment to Our Communities 71
Franklin Wells for the World 72
Franklin Electric Charitable and Educational Foundation 74
Scholarships 75
Commitment to Our Employees 77
Fairness and Respect 78
2025 Global Workforce 79
Franklin Women's Network 80
Career Growth Network 81
Employee Training 81
Employee Health & Wellness 83
Health and Wellness Highlights 84
Index 87
Sustainability Accounting Standards Board (SASB) 91
Safe Harbor Statement 92
WELCOME
About this Report
Franklin Electric Co., Inc. ("We," "Franklin Electric," or the "Company") is pleased to present our 2026 Sustainability Report, providing transparency and insight into our Sustainability Report initiatives and progress. The report conveys details on Sustainability Report topics and our 2025 performance that are or may be of interest to our internal and external stakeholders.
Information in this report covers our fiscal year ended December 31, 2025, unless otherwise indicated.
We are proud to be a company that strives toward continuous, sustainable improvement and hope this report reflects that desire and dedication.
4 | 2026 Sustainability Report
At Franklin Electric, sustainability is embedded in how we operate the business, day-to-day and over the long term. It reflects our belief that strong performance, responsible operations, and disciplined decision making go hand in hand.
Our role in supporting essential water and energy infrastructure brings a responsibility to operate safely, efficiently, and with integrity. We focus on protecting our people, managing resources responsibly, and delivering the reliability our customers depend on. These priorities guide how we design products, run facilities, engage suppliers, and support the communities where we operate.
Over the past year, we strengthened our operating foundation through continued focus on safety, talent development, and a culture of accountability and respect. We advanced initiatives to improve efficiency and reduce waste and energy use, achieving meaningful year-over-year reductions in greenhouse gas emissions, water usage, and electric power consumption on an intensity basis. We recognize that operational discipline supports both environmental performance and business resilience.
That same discipline drives our innovation. Across our product portfolio, we continue to develop solutions that help customers operate more efficiently and responsibly through reduced energy consumption, improved water use efficiency, lower emissions, and longer product life. From variable speed systems that match power usage to real time demand, to intelligent monitoring that reduces unnecessary service travel, to designs that minimize water waste and extend service intervals, our products play a direct role in supporting sustainability outcomes and the reliability required for critical infrastructure.
Sustainable growth remains central to our strategy. We pursue acquisitions thoughtfully, seeking opportunities that align with our values, governance standards, and long term objectives, while strengthening our portfolio and capabilities. We also expanded community engagement ettorts, particularly in workforce development and skills that support long term economic vitality.
We recognize that sustainability is an ongoing ettort that requires continuous improvement, clear accountability, and transparency. As expectations evolve, we remain committed to adapting our practices while maintaining a consistent focus on long term value creation.
I am proud of the commitment and discipline our teams bring to this work and confident in Franklin Electric's ability to operate responsibly while positioning the company for enduring success. Thank you for your continued confidence.
Joe Ruzynski
Chief Executive Officer
2026 Sustainability Report | 5
Our Key Factors for Success are a roadmap to ensure we consistently, sustainably, and responsibly otter the best value to our customers.
QUALITY: Above all, we are committed to providing high quality products and services to our customers.
AVAILABILITY:We are committed to delivering our products and services when and where our customer needs them.
SERVICE: We are passionate about providing industry-leading technical service, robust training programs, and unwavering support and communication.
INNOVATION:We are driven to evaluate new technologies and develop new products, services and processes. Our drive to innovate is at the core of what we do.
COST: We consider cost in every decision we make.
We strive to control cost for the benefit of all our stakeholders.
6 | 2026 Sustainability Report
Click, Scan, Watch.
Franklin Electric Co., Inc. (NASDAQ: FELE) is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.
At Franklin Electric, we strive to achieve market and financial success, guided by our core values and focus on our Key Factors for Success - Quality, Availability, Service, Innovation and Cost. Along with maintaining a culture of safety and continuous improvement, every Franklin Electric employee is expected to make decisions based on our Key Factors for Success to ensure we otter the best value to our customers. We do this not solely because it is good business, but because it is the right thing for our customers, employees, shareholders and business partners.
Franklin Electric has grown from a small motor manufacturing company into a leading global provider of systems and components for the movement of water and fuel. Named after America's pioneer electrical engineer, Benjamin Franklin, we continue to follow the core of our founders' strategy by continuously improving our products and processes to deliver valuable and innovative solutions that better serve our customers' needs.
Our vision is to be an indispensable partner to our customers. We consistently deliver products of the highest quality available in the market, provide training that reflects the importance of the safety of our customers and end-users, and develop innovative products that deliver unparalleled performance, protect the environment and support sustainable energy sources. Our goal is to accomplish these objectives in ways that deliver value to our customers and shareholders.
From driving greater productivity in our plants to delivering more efficiency in our global projects, Franklin Electric is committed to operational excellence. In our manufacturing locations, we rely on leading best practices to increase machine availability, yields and value. We are always looking for better ways to turn inputs into quality products; this forward-thinking approach is crucial to our long-term success.
2026 Sustainability Report | 7
COMPANY OVERVIEW
OUR HISTORY
1944
Founded by Edward J. Schaefer and T. Wayne Kehoe in Bluttton, Indiana
Introduced the first fully submersible electric motor for water pumping.
1963
1988
First international location established in Germany
Established FE Petro Fueling Business
First explosion-proof submersible motor for fueling systems.
2004
2006
Entered water systems pump market with acquisition of JBD Pumps
Expanded into the water systems plumbing, heating, ventilation and air conditioning (P/HVAC) market with acquisition of Little Giant
2013
2017
Corporate Headquarters relocated to Fort Wayne, Indiana
Entered the water systems distribution business with establishment of Headwater Companies and the acquisition of DSI, 2M and Western Hydro
2019
Entered the water treatment market with the acquisition of First Sales, LLC, and subsequent acquisitions of Waterite
2021
Expanded water treatment footprint with acquisitions of Puronics and Aqua Systems
Click, Scan, Watch.
8 | 2026 Sustainability Report
T. Wayne Kehoe Edward J. Schaefer
2026 Sustainability Report | 9
10 | 2026 Sustainability Report
Under Joe Ruzynski's leadership, the executive team is responsible for the development and implementation of Franklin Electric's strategies, policies and goals related to economic, environmental and social impacts.
CORPORATE GOVERNANCE
Board of Directors
Franklin Electric's Board of Directors drives our culture of compliance and commitment to safety, employee and customer training and engagement, innovative and efficient product otterings, and lean manufacturing activities. The primary responsibility of the Board is to oversee the attairs of the Company for the benefit of the Company's shareholders.
Board Structure & Governance
The Board has three standing committees: Audit, Management Organization and Compensation, and Corporate Governance. The Company's Corporate Governance Guidelines provide for an independent non-executive director to act as Lead Independent Director. The Lead Independent Director is appointed by a majority of the independent directors and serves for a three-year term. Jennifer Sherman currently serves as the Company's Lead Independent Director.
The principal functions of the Board of Directors are to:
Review, approve and provide accountability for the long-term strategic objectives and direction of the Company,
including oversight of the Company's investment in environmental, social and governance disclosures to ensure accuracy
Select, advise, counsel, encourage, and evaluate the Chief Executive Officer and to select his or her successor
Review and support the actions required to provide resources to pursue the objectives, strategies and plans of the Company
Evaluate the performance of senior management
Review key performance measures to help assure that it is managed both ettectively and responsibly
Nominate suitable candidates for election to the Board and to establish and carry out an ettective system of board governance
Monitor and advise on the Company's sustainability strategy
www.franklin-electric.com/investors/corporate-governance/board-of-directors
Read More About the Board of Directors
≤ 4 YEARS | 2
5-9 YEARS | 3
10+ YEARS | 3
≤ 60 YEARS | 4
61-64 YEARS | 3
65+ YEARS | 1
MALE | 6
FEMALE | 2
37.5%
37.5%
50%
37.5%
75%
25%
12.5%
25%
| 6 INDEPENDENT
Age Tenure
8 DIRECTORS
Gender
12 | 2026 Sustainability Report
Jennifer L. Sherman
Joe Ruzynski
Mark A. Carano
Victor Grizzle
Alok Maskara
Renee J. Peterson
Gregg C. Sengstack
Chris Villavarayan
Name
Age*
Director Since
Principal Occupation
Independent
Committees
Audit
Compensation
Governance
Jennifer Sherman
61
2015
Chairperson of the Board; CEO, Federal Signal Corporation
Yes
Joe Ruzynski
51
2024
CEO, Franklin Electric
No
Mark Carano
56
2025
CFO and Treasurer, SPX Technologies
Yes
Victor Grizzle
64
2020
CEO, Armstrong World Industries
Yes
Chairperson
Alok Maskara
54
2021
CEO, Lennox International, Inc.
Yes
Chairperson
Renee Peterson
64
2015
Retired; Formerly, CFO, The Toro Company
Yes
Chairperson
Gregg Sengstack
67
2014
Retired; Formerly, CEO, Franklin Electric
No
Chris Villavarayan
55
2022
CEO & President, Axalta Coating Systems, Ltd.
Yes
* As of publication
2026 Sustainability Report | 13
CORPORATE GOVERNANCE
Executive Officers
14 | 2026 Sustainability Report
Joe Ruzynski
Chief Executive Officer
Mr. Ruzynski joined Franklin Electric as Chief Executive Officer and a member of the Board of Directors in
July 2024. Prior to that, he served as President of the Enclosures Segment at nVent, a global leader in electrical connection and protection solutions. He
previously held various leadership roles at Pentair plc, a global water technology company. He has substantial experience in the industrial and electrical sectors,
with a track record of driving growth, innovation, and operational excellence.
Jennifer Wolfenbarger
Chief Financial Officer
Mrs. Wolfenbarger joined Franklin Electric in July 2025 as the Chief Financial Officer. Prior to joining Franklin Electric, she served as Vice President and Chief Financial Officer of the Insulation business for Owens Corning,
a global leader in building materials. She previously held divisional CFO roles for Stryker, Caterpillar and General Motors. She has a proven track record of strategic growth, transformation and manufacturing excellence. Mrs. Wolfenbarger holds a Master of Business Administration degree from Butler University, a Bachelor of Science degree in Accounting from Butler University, and is a Certified Management Accountant.
Jonathan M. Grandon
Vice President, Chief Administrative Officer, General Counsel and Secretary
Mr. Grandon joined Franklin Electric in September 2016. He had most recently been Senior Vice President, General Counsel and Secretary of Biomet Inc., a leading multi-national health care and medical device company. He had also previously been a partner in the Chicago office of Ropes & Gray LLP, and prior to that was a partner at Mayer Brown LLP.
DeLancey W. Davis
Vice President and President, Headwater Companies
Mr. Davis served as Vice President of Sales and Marketing for Flexcon Industries prior to joining Franklin Electric in 2005. Previously, he was a practicing attorney with the Washington D.C. office of Holland & Knight, LLP and for many years represented the water systems industry as a lobbyist for the Water Systems Council. In 2017 he was named Vice President and President, Headwater Companies, assuming responsibility for the Distribution segment of the Company.
2026 Sustainability Report | 15
16 | 2026 Sustainability Report
Jay J. Walsh
Vice President and President, Franklin Energy Systems
Mr. Walsh has served as President of Franklin Energy Systems since 2017 and is responsible for the growth and continued success of our Fueling and Grid Solutions businesses. He started with Franklin Electric in 1995 in the fueling business then known as FE Petro. Prior to taking over as the President of Franklin Energy Systems, he was responsible for that division's marketing and sales.
Brent Spikes
Vice President, Global Manufacturing Operations
Mr. Spikes joined Franklin Electric in 2005. Since joining Franklin Electric, he has held several leadership positions in manufacturing, distribution and engineering. He most recently served as Vice President of Global Water Engineering. Prior to joining the Franklin Electric
team, Mr. Spikes held manufacturing leadership roles in the HVAC manufacturing industry with both Trane Technologies, Inc., and Advanced Distributor Products, a business unit of Lennox International Inc. Mr. Spikes holds a bachelor's degree in industrial engineering from Louisiana Tech University and a Master of Business Administration from the University of Saint Francis.
CORPORATE GOVERNANCE
Greg Levine
Vice President and President, Global Water
Mr. Levine joined Franklin Electric in 2023 from Nidec Motion Control and Drives, St. Louis, where he served as President for six years. In this role, he oversaw an international team of 3,800 across 13 operational sites. During his time with Nidec, Mr. Levine positioned the company to grow twofold through organic growth and acquisitions. Before working at Nidec, Mr. Levine held senior engineering roles at Emerson for 15 years.
2026 Sustainability Report | 17
CORPORATE GOVERNANCE
Committees
The Board of Directors has adopted a Charter for each of its Committees that set forth the committee's duties and responsibilities. In accordance with independence standards set forth in the Company's Corporate Governance Guidelines and under the applicable NASDAQ rules, all members of every committee have been determined to be "independent directors."
www.franklin-electric.com/investors/corporate-governance/guidelines-and-policies
Read the Company Committee Charters
A primary responsibility of our Board of Directors is overseeing the Company's strategy. The Corporate Governance Committee provides oversight of the Company's approach to sustainability and corporate social responsibility. The Audit Committee oversees reporting, internal control and continuous disclosures. The Management, Organization and Compensation Committee oversees the Company's goal to continuously improve diversity, equity and inclusion, as well as talent development. Our General Counsel and Corporate Secretary lead the Sustainability Committee, which includes the following cross-functional senior leaders: Chief Administrative Officer, General Counsel and Corporate Secretary, Chief Financial Officer, Vice President and Deputy General Counsel, Vice President, Information Technology, Global Corporate Controller, Human Resource Director, US & Canada Operations, Director, Global Environmental Health and Safety, Assistant Corporate Controller, and Senior Manager, Internal Audit.
Roles & Responsibility
Sustainability Committee:
Sets Sustainability Program goals and strategy and publishes Sustainability Report
General Counsel and Corporate Secretary:
Executive management oversight of Sustainability Program
Corporate Governance Committee: Provides oversight of Sustainability Program
18 | 2026 Sustainability Report
Corporate Governance Committee
The current members of the Corporate Governance Committee (the "Governance Committee") are Victor Grizzle (Chairperson), Renee Peterson, and Jennifer Sherman. Under its charter, the Governance Committee reviews the size of the Company's Board and committee structure and recommends appointments to the Board and the Board Committees; reviews and recommends to the Board the compensation of non-employee directors, including awards to non-employee directors under the Company's equity-based compensation plans; and develops and recommends to the Board corporate governance guidelines deemed necessary for the Company. The Committee also directs the Board's oversight of the Company's Sustainability Program. The Governance Committee engages in discussions with the Sustainability Committee regarding the Company's sustainable initiatives and goals at each of its scheduled meetings and works with the Company's management team to set the Company's sustainability strategy.
Director Nomination Process
The Governance Committee is responsible for identifying and recommending to the Board candidates for director. The Governance Committee considers diversity when identifying candidates for directorships. Although the Company does not have a written policy regarding diversity, the Governance Committee seeks to identify persons from various backgrounds and with a variety of life experiences who have a reputation for, and a record of, integrity and good business judgment and the willingness to make an appropriate time commitment. The Governance Committee takes into account the current composition of the Board and the extent to which a person's particular expertise, experience and ability will complement the expertise and experience of other directors. The Governance Committee believes that candidates for director should also be free of conflicts of interest or relationships that may interfere with the performance of their duties. Based on its evaluation and consideration, the Governance Committee submits its recommendation for director candidates to the full Board, which is then responsible for nominating the candidates to be elected by the shareholders.
Audit Committee
The current members of the Audit Committee are Renee Peterson (Chairperson), Alok Maskara, Chris Villavarayan, and Mark Carano. The Board of Directors has determined that each member of the Audit Committee is an "audit committee financial expert" as defined by Item 407(d)(5)(ii) of Regulation S-K of the Exchange Act.
Under its charter, the Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities by reviewing the Company's financial information and internal controls; the Company's processes for monitoring compliance with laws and regulations; and the Company's audit and risk management processes, including an annual risk assessment process. The Audit Committee is also responsible for the review, approval or ratification of transactions between the Company and "related persons," as required by the Company's policies.
Included in the Audit Committee's oversight of risk management activities is a review of the Company's environmental, sustainability and cybersecurity risks, and related risk and impact mitigation plans. The Company's current Cybersecurity Response Statement is available online together with the Company Committee Charters.
2026 Sustainability Report | 19
CORPORATE GOVERNANCE
Cybersecurity Response Statement - PDF
Read the Cybersecurity Response Statement
Management Organization and Compensation Committee
The current members of the Management Organization and Compensation Committee (the "Compensation Committee") are Alok Maskara (Chairperson), Jennifer Sherman, Chris Villavarayan, and Victor Grizzle. Under its charter, the Compensation Committee recommends to the Board of Directors the annual salary and bonus for the Chief Executive Officer, determines and approves the equity awards for the Chief Executive Officer, and the annual salary, bonus and equity awards of the other executive officers of the Company; reviews and submits to the Board of Directors recommendations concerning bonus and stock plans; periodically reviews the Company's management benefits policies and programs; and oversees the Company's management development and organization structure. As part of its oversight of management development, the Compensation Committee encourages consideration of diversity in senior management succession planning. The Compensation Committee will also consider the extent to which improvement upon the sustainable metrics identified in this Sustainability Report will be tied to future executive compensation.
Sustainability Committee
In 2020, the Board empowered an executive-led Sustainability Committee to focus on key initiatives, including the compiling and disclosure of this Sustainability Report. The Sustainability Committee meets throughout the year and reports to the Governance Committee of the Board of Directors during its regularly scheduled meetings. The Sustainability Committee is also tasked with driving improvement of sustainable targets and monitoring the Sustainability Program alignment with the Company's strategic objectives.
Product Review Committee
As part of our commitment to safety, we maintain a cross-functional Product Review Committee (the "PRC") which includes representation from Global Engineering, Global Product Supply, Commercial Leadership and Legal. The PRC is responsible for overseeing the evaluation of new products prior to launch to mitigate the risk of personal injury or property damage as a result of the product's installation, application or utilization by an end-user. The PRC also reviews reports of potential safety issues identified in the field and responds
accordingly, with Franklin Electric's commitment to quality and safety guiding all decisions.
20 | 2026 Sustainability Report
Disclaimer
Franklin Electric Co. Inc. published this content on May 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 21:01 UTC.