DEERE & COMPANY Form 8-K Filing

Deere & Company filed a Form 8-K on March 12, 2026, announcing the approval of one-time performance-based restricted stock unit (PSU) awards for its named executive officers and other senior officers. These awards, granted under the John Deere 2020 Equity and Incentive Plan, are designed to incentivize long-term business results aligned with the company's "Leap Ambitions" and promote retention. The PSUs are earned based on achieving Shareholder Value Added (SVA) targets over a five-fiscal year period (November 3, 2025, to October 27, 2030) and are subject to time-based vesting. Performance is measured against pre-established annual SVA targets, with payouts ranging from 0% to 175% of the target award based on performance levels. SVA is defined as operating profit less the product of average assets and cost of capital for the company's equipment operations segments. Specific provisions address forfeiture upon termination of employment, vesting conditions, and treatment upon a change of control. The filing also details the target value of PSUs granted to key executives, including John C. May ($25,000,000) and Ryan D. Campbell and Deanna M. Kovar (each $5,000,000).