RESIDEO TECHNOLOGIES, INC. (REZI) Form 8-K — Jun 4, 2026
Resideo Technologies entered into a Second Amended and Restated Credit Agreement on June 4, 2026, establishing a senior secured financing package of approximately $2.827 billion. This refinancing, which includes a $500 million undrawn revolving credit facility and existing term loans, is designed to facilitate the previously disclosed spin-off of its ADI Global Distribution segment. The filing also confirms the appointment of Thomas Surran as President and CEO, effective upon the consummation of the ADI spin-off expected in mid-2026. Surran will succeed Jay Geldmacher, who will transition to an executive advisor role.
Key figures
- Debt Amount
- 2827000000
- Ceo base salary
- 900000
- Term loan initial
- 518000000
- Ceo lti grant value
- 1583000
- Consent fee percent
- 0.1
- Ceo bonus target percent
- 135
- Revolving credit facility
- 500000000
- Term loan sixth amendment
- 1219000000
- Letters of credit capacity
- 75000000
- Leverage ratio pre spinoff
- 3.5
- Term loan fourth amendment
- 590000000
- Interest coverage ratio min
- 2.5
- Leverage ratio post spinoff initial
- 4.75
Price after filing
Close on the filing date to close N calendar days later (from $30.23). Historical, not a forecast.
AI analysis
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