SEC Charges Stanley Black & Decker and Former Executive for Failures in Executive Perks Disclosure

The Securities and Exchange Commission today announced settled charges against Stanley Black & Decker Inc., a publicly traded tools company, for failing to disclose perquisites it provided to certain executives. In addition, Jeffery D. Ansell, a former Stanley Black & Decker executive, agreed to settle charges that he caused Stanley Black & Decker to violate proxy solicitation and books and records provisions of the federal securities laws. According to the SEC’s order against Stanley Black & Decker, the company failed to disclose at least $1.3 million worth of perquisites and personal benefits paid to, or on behalf of, four of its executive officers and one of its directors from 2017 through 2020.