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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): February 5, 2007
WATTS WATER TECHNOLOGIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 001-11499 04-2916536
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
815 Chestnut Street, North Andover, Massachusetts 01845
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(Address of Principal Executive Offices) (Zip Code)
(978) 688-1811
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(Registrant's telephone number, including area code)
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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 (see General Instruction A.2. below):
|_| 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))
Item 1.01. Entry into a Material Definitive Agreement.
On February 6, 2007, the Board of Directors of Watts Water Technologies,
Inc. (the "Company") approved changes to the compensation arrangements for
non-employee directors of the Company. A summary of the annual compensation
payable to non-employee directors of the Company effective as of February 6,
2007 is filed as Exhibit 10.1 to this Current Report and is incorporated herein
by reference.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year
The Board of Directors of the Company amended Article IV of the Company's
By-laws (the "By-laws"), effective as of February 5, 2007, to allow for the
issuance of uncertificated shares. By being able to issue uncertificated shares,
the Company may now participate in the Direct Registration System, which is
currently administered by The Depository Trust Company. The Direct Registration
System allows investors to have securities registered in their names without the
issuance of physical certificates and allows investors to electronically
transfer securities to broker-dealers in order to effect transactions without
the risks and delays associated with transferring physical certificates. The
amendment to the By-laws also provides that each registered stockholder shall be
entitled to a stock certificate upon written request to the transfer agent or
registrar of the Company.
The full text of the By-laws, as amended, is filed as Exhibit 3.1 to this
Current Report, and amended Article IV thereof is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
See Exhibit Index attached hereto.
SIGNATURE
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.
WATTS WATER TECHNOLOGIES, INC.
Date: February 7, 2007 By: /s/ William C. McCartney
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William C. McCartney
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
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3.1 By-laws, as amended
10.1 Summary of Non-Employee Director Compensation