FUL 10-K Annual Report Nov. 28, 2020 | Alphaminr

FUL 10-K Fiscal year ended Nov. 28, 2020

FULLER H B CO
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TABLE OF CONTENTS
Part IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPart IIItem 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. Selected Financial DataItem 7. Management's Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataNote 1: Nature Of Business and Summary Of Significant Accounting PoliciesNote 2: Acquisitions and DivestitureNote 2: AcquisitionsNote 3: Restructuring ActionsNote 4: Supplemental Financial Statement InformationNote 5: Goodwill and Other Intangible AssetsNote 6: LeasesNote 7: Notes Payable, Long-term Debt and Lines Of CreditNote 8: Stockholders' EquityNote 9: Accounting For Share-based CompensationNote 10: Pension and Postretirement BenefitsNote 11: Income TaxesNote 12: Financial InstrumentsNote 13: Fair Value MeasurementsNote 14: Commitments and ContingenciesNote 15: SegmentsNote 16: Quarterly Data (unaudited)Note 17: Subsequent EventItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IVItem 15. Exhibits and Financial Statement SchedulesItem Incorporation By ReferenceItem 16. Form 10-k Summary

Exhibits

3.1 Restated Articles of Incorporation of H.B. Fuller Company, as amended Exhibit 3.1 to the Quarterly Report on Form 10-Q for the quarter ended September 2, 2006 and Exhibit 3.1 to the Current Report on Form 8-K dated October 12, 2016. 3.2 By-Laws of H.B. Fuller Company Exhibit 3.1 to the Current Report on Form 8-K dated December 2, 2015. 4.1 Form of Certificate for common stock, par value $1.00 per share Exhibit 4.1 to the Annual Report on Form 10-K, as amended, for the year ended November 28, 2009. 4.2 Indenture, dated February 14, 2017, between H.B. Fuller Company and U.S. Bank National Association, as Trustee Exhibit 4.1 to the Current Report on Form 8-K dated February 9, 2017. 4.3 First Supplemental Indenture, dated February 14, 2017, between H.B. Fuller Company and U.S. Bank National Association, as Trustee, relating to the 4.0000% Notes due 2027 Exhibit 4.2 to the Current Report on Form 8-K dated February 9, 2017. 4.4 Amendment No. 1 to First Supplemental Indenture, dated February 14, 2017 betweenH.B. Fuller Company and U.S. Bank National Association, as Trustee, relating to the 4.0000% Notes due 2027 Exhibit 4.6 to the Current Report on Form 10-K dated January 31, 2018. 4.5 Second Supplemental Indenture, dated October 20, 2020, between H.B. Fuller Company and U.S. Bank National Association, as Trustee, relating to the 4.250% Notes due 2028. Exhibit 4.1 to the Current Report on Form 8-K dated October 20, 2020. 4.6 Form of Global Note representing the 4.000% Notes due 2027 (included in Exhibit 4.3) Exhibit 4.2 to the Current Report on Form 8-K dated February 9, 2017. 4.7 Form of Global Note representing the 4.250% Notes due 2028 (included in Exhibit 4.5) Exhibit 4.2 to the Current Report on Form 8-K dated October 20, 2020. 4.8 Description of Securities Exhibit 4.8 to the Annual Report on Form 10-K dated January 24, 2020. 10.1 Credit Agreement, dated October 31, 2014, by and among JP Morgan Chase Bank, N.A., as administrative agent, U.S. Bank National Association, Citibank, N.A. and Morgan Stanley MUFG Loan Partners, LLC, as co-syndication agents, and various financial institutions Exhibit 1.1 to the Current Report on Form 8-K dated October 31, 2014. 10.2 Credit Agreement dated as of April 12, 2017 among (i) H.B. Fuller Company, a Minnesota corporation, as Borrower, (ii)certain of its subsidiaries party thereto as Foreign Subsidiary Borrowers, (iii) JPMorgan Chase Bank, N.A., as Administrative Agent, (iv) U.S. Bank National Association, Citibank, N.A., and Morgan Stanley MUFG Loan Partners, LLC, as Co-Syndication Agents, (v) Bank of America, N.A., HSBC Bank USA, National Association, and PNC Bank, National Association, as Co-Documentation Agents, and (vi)various other financial institutions party thereto as Lenders, as amended Exhibit 10.1 to the Current Report on Form 8-K dated April 12, 2017, Exhibit 10.1 to the Current Report on Form 8-K dated September 29, 2017, and Exhibit 10.1 to the Current Report on Form 8-K dated November 17, 2017. 10.3 Amended and Restated Credit Agreement, dated October 20, 2020, among H.B. Fuller Company and JPMorgan Chase Bank, N.A., as administrative agent and the various other parties named thereto. Exhibit 10.1 to the Current Report on Form 8-K dated October 20, 2020. 10.4 Guaranty made as of April 12, 2017 by H.B. Fuller Construction Products Inc., a Minnesota corporation as Initial Guarantor, in favor of J.P. Morgan Chase Bank, N.A., as Administrative Agent Exhibit 10.2 to the Current Report on Form 8-K dated April 12, 2017. 10.5 Term Loan Credit Agreement, dated as of October20, 2017, by and among H.B. Fuller Company,Morgan Stanley Senior Funding, Inc., as administrative agent, and various other financial institutions party thereto as lenders, as amended Exhibit 10.1 to the Current Report on Form 8-K dated October 20, 2017 and Exhibit 10.1 to the Current Report on Form 10-Q dated September 28, 2018. 10.6 Commitment Letter, dated as of September 2, 2017, by and among H.B. Fuller Company and Morgan Stanley Senior Funding, Inc. Exhibit 10.1 to the Current Report on Form 8-K dated September 2, 2017. *10.7 Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive Plan Exhibit 10.1 to the Current Report on Form 8-K dated April 5, 2006. *10.8 H.B. Fuller Company Supplemental Executive Retirement Plan II 2008, as amended Exhibit 10.2 to the Current Report on Form 8-K dated December 19, 2007, Exhibit 10.5 to the Annual Report on Form 10-K for the year ended November 29, 2008 and Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended May 28, 2011. *10.9 H.B. Fuller Company Executive Benefit Trust dated October 25, 1993 between H.B. Fuller Company and U.S. Bank, National Association, as Trustee, as amended, relating to the H.B. Fuller Company Supplemental Executive Retirement Plan Exhibit 10(k) to the Annual Report on Form 10-K for the year ended November 29, 1997, Exhibit 10(k) to the Annual Report on Form 10-K405 for the year ended November 28, 1998, Exhibit 10.3 to the Current Report on Form 8-K dated December 19, 2007 and Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended May 30, 2009. *10.10 H.B. Fuller Company Key Employee Deferred Compensation Plan (2005 Amendment and Restatement), as amended Exhibit 10.1 to the Current Report on Form 8-K dated October 23, 2006, Exhibit 10.11 to the Annual Report on Form 10-K for the year ended December 1, 2007 and Exhibit 10.8 to the Annual Report on Form 10-K for the year ended November 29, 2008. *10.11 Third Amendment of the H.B. Fuller Company Key Employee Deferred Compensation Plan (2005 Amendment and Restatement), as amended *10.12 Form of Change in Control Agreement between H.B. Fuller Company and each of its executive officers Exhibit 10.11 to the Annual Report on Form 10-K for the year ended November 29, 2008. *10.13 Form of Change-in-Control Agreement between H.B. Fuller Company and each of its executive officers for agreements entered into after January 24, 2019 Exhibit 10.9 to the Current Report on Form 8-K dated January 24, 2019. *10.14 Form of Severance Agreement between H.B. Fuller Company and each of its executive officers Exhibit 10.2 to the Quarterly Report on Form 10-Q for the quarter ended May 31, 2008. *10.15 Form of Non-Qualified Stock Option Agreement under the Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive Plan for awards made on or after January 20, 2011 Exhibit 10.1 to the Current Report on Form 8-K dated January 20, 2011. *10.16 Form of Non-Qualified Stock Option Agreement under the Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive Plan for awards made on or after January 26, 2012 Exhibit 10.1 to the Current Report on Form 8-K dated January 26, 2012 *10.17 Form of Non-Qualified Stock Option Agreement under the Amended and Restated H.B. Fuller Company Year 2000 Stock Incentive Plan for awards made on or after January 24, 2013 Exhibit 10.1 to the Current Report on Form 8-K dated January 24, 2013. *10.18 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2013 Master Incentive Plan for awards made on or after January 23, 2014 Exhibit 10.2 to the Current Report on Form 8-K dated January 23, 2014. *10.19 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after April 7, 2016 Exhibit 10.1 to the Current Report on Form 8-K dated April 6, 2016. *10.20 Form of Restricted Stock Unit Award Agreement under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after April 7, 2016 Exhibit 10.2 to the Current Report on Form 8-K dated April 6, 2016. *10.21 Form of Restricted Stock Unit Award Agreement for the CEO under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after April 7, 2016 Exhibit 10.3 to the Current Report on Form 8-K dated April 6, 2016. *10.22 Form of Performance Share Award Agreement under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after April 7, 2016 Exhibit 10.4 to the Current Report on Form 8-K dated April 6, 2016. *10.23 Form of Restricted Stock Unit Award Agreement for Non-Employee Directors under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after April 7, 2016 Exhibit 10.5 to the Current Report on Form 8-K dated April 6, 2016. *10.24 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2016 Master Incentive Plan for awards made on or after October 20, 2017 Exhibit 10.2 to the Current Report on Form 8-K dated October 20, 2017. *10.25 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after April 12, 2018 Exhibit 10.1 to the Current Report on Form 8-K dated April 18, 2018. *10.26 Form of Restricted Stock Unit Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after April 12, 2018 Exhibit 10.2 to the Current Report on Form 8-K dated April 18, 2018. *10.27 Form of Restricted Stock Unit Award Agreement for the CEO under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after April 12, 2018 Exhibit 10.3 to the Current Report on Form 8-K dated April 18, 2018. *10.28 Form of Performance Share Award Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after April 12, 2018 Exhibit 10.4 to the Current Report on Form 8-K dated April 18, 2018. *10.29 Form of Restricted Stock Unit Award Agreement for Non-Employee Directors under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after April 12, 2018 Exhibit 10.5 to the Current Report on Form 8-K dated April 18, 2018. *10.30 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.1 to the Current Report on Form 8-K dated January 24, 2019. *10.31 Form of Performance-Based Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.2 to the Current Report on Form 8-K dated January 24, 2019. *10.32 Form of Restricted Stock Unit Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.3 to the Current Report on Form 8-K dated January 24, 2019. *10.33 Form of Restricted Stock Unit Agreement for the CEO under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.4 to the Current Report on Form 8-K dated January 24, 2019. *10.34 Form of Performance Share Award Agreement under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.5 to the Current Report on Form 8-K dated January 24, 2019. *10.35 Form of Restricted Stock Unit Award Agreement for Non-Employee Directors under the H.B. Fuller Company 2018 Master Incentive Plan for awards made on or after January 24, 2019 Exhibit 10.6 to the Current Report on Form 8-K dated January 24, 2019. *10.36 Form of Performance-Based Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2016 Master Incentive Plan, as amended Exhibit 10.2 to the Current Report on Form 8-K dated July 2, 2019 and Exhibit 10.1 to the Current Report on Form 8-K dated July 2, 2019. *10.37 Form of Non-Qualified Stock Option Agreement under the H.B. Fuller Company 2020 Master Incentive Plan for awards made on or after April 2, 2020 Exhibit 10.1 to the Current Report on Form 8-K dated April 2, 2020. *10.38 Form of Restricted Stock Unit Award Agreement under the H.B. Fuller Company 2020 Master Incentive Plan for awards made on or after April 2, 2020 Exhibit 10.2 to the Current Report on Form 8-K dated April 2, 2020. *10.39 Form of Restricted Stock Unit Award Agreement for the CEO under the H.B. Fuller Company 2020 Master Incentive Plan for awards made on or after April 2, 2020 Exhibit 10.3 to the Current Report on Form 8-K dated April 2, 2020. *10.40 Form of Performance Share Award Agreement under the H.B. Fuller Company 2020 Master Incentive Plan for awards made on or after April 2, 2020 Exhibit 10.4 to the Current Report on Form 8-K dated April 2, 2020. *10.41 Form of Restricted Stock Unit Award Agreement for Non-Employee Directors under the H.B. Fuller Company 2020 Master Incentive Plan for awards made on or after April 2, 2020 Exhibit 10.5 to the Current Report on Form 8-K dated April 2, 2020. *10.42 H.B. Fuller Company Defined Contribution Restoration Plan (As Amended and Restated Effective January 1, 2008), as amended Exhibit 10.4 to the Current Report on Form 8-K dated December 19, 2007 and Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended May 31, 2008. Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended March 2, 2019, and Exhibit 10.1 to the Quarterly Report on Form 10-Q for the quarter ended June 1, 2019. *10.43 Fourth Amendment of the H.B. Fuller Company Defined Contribution Restoration Plan (As Amended and Restated Effective January 1, 2008), as amended *10.44 H.B. Fuller Company Directors Deferred Compensation Plan (2008 Amendment and Restatement), as amended Exhibit 10.22 to the Annual Report on Form 10-K for the year ended November 29, 2008 and Exhibit 10.23 to the Annual Report on Form 10-K for the year ended November 29, 2008. *10.45 H.B. Fuller Company 2009 Director Stock Incentive Plan Exhibit 10.2 to the Quarterly Report on Form 10-Q for the quarter ended May 30, 2009. *10.46 H.B. Fuller Company Management Short-Term Incentive Plan for Executive Officers Exhibit 10.7 to the Current Report on Form 8-K dated January 24, 2019. *10.47 H.B. Fuller Company Management Short-Term Incentive Plan for Executive Officers Exhibit 10.1 to the Current Report on Form 8-K dated January 15, 2020. *10.48 H.B. Fuller Company Management Long-Term Incentive Plan Exhibit 10.8 to the Current Report on Form 8-K dated January 24, 2019. *10.49 Amended and Restated H.B. Fuller Company Annual and Long-Term Incentive Plan Exhibit 10.1 to the Current Report on Form 8-K dated April 3, 2008 *10.50 H.B. Fuller Company 2013 Master Incentive Plan Annex B to the H.B. Fuller Company Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 27, 2013. *10.51 H.B. Fuller Company 2016 Master Incentive Plan Annex B to the H.B. Fuller Company Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 24, 2016. *10.52 H.B. Fuller Company 2018 Master Incentive Plan Annex B to the H.B. Fuller Company Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 28, 2018. *10.53 H.B. Fuller Company 2020 Master Incentive Plan Annex B to the H.B. Fuller Company Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 19, 2020. 21 List of Subsidiaries 23.1 Consent of Ernst & Young LLP 23.2 Consent of KPMG LLP 24 Power of Attorney 31.1 302 Certification James J. Owens 31.2 302 Certification John J. Corkrean 32.1 906 Certification James J. Owens 32.2 906 Certification John J. Corkrean