Annual report of employee stock purchase, savings and similar plans



>














UNITED STATES




SECURITIES AND EXCHANGE COMMISSION




Washington, D.C. 205 49


























FORM 11


-


K










FOR ANNUAL REPORTS OF EMPLOYEE STOCK




PURCHASE, SAVINGS AND SIMILAR PLANS




PURSUANT TO SECTION 15(d) OF THE




SECURITIES EXCHANGE ACT OF 1934




















































































































(Mark One):




x




ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934






For the fiscal year ended December 31, 2021






OR






¨




TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934






For the transition period from _____________ to _____________







Commission file number 1-5794





A.




Full title of the plan and the address of the plan, if different from that of the issuer named below:







Masco Corporation 401(k) Plan






B.



Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:





Masco Corporation



17450 College Parkway



Livonia, Michigan 48152























































1











MASCO CORPORATION 401(k) PLAN










TABLE OF CONTENTS





























































































































Page No.































































Note: Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.





















2


















REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
















Plan Administrator and Plan Participants




Masco Corporation 401(k) Plan










Opinion on the financial statements






We have audited the accompanying statements of net assets available for benefits of Masco Corporation 401(k) Plan (the “Plan”) as of December 31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the year ended December 31, 2021 in conformity with accounting principles generally accepted in the United States of America.










Basis for opinion




These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.




We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.




Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.










Supplemental information




The Schedule H, Line 4i - Schedule of Assets (Held at End of Year) (“supplemental information”) as of December 31, 2021 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
















/s/ Grant Thornton LLP
















We have served as the Plan’s auditor since 2013.
















Southfield, Michigan




June 17, 2022






3











MASCO CORPORATION 401(k) PLAN










STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS











December 31, 2021 and 2020


















































































































































2021




2020



ASSETS












Investments, at fair value




$



1,585,774,147





$



1,371,344,267









Receivables:







Notes receivable from participants




22,089,449





23,927,868




Participant contributions




957,277





798,983




Employer contributions




16,620,119





19,766,836




Total receivables




39,666,845





44,493,687









Net assets available for benefits




$



1,625,440,992





$



1,415,837,954
































The


acco


mpanying notes a


re


an integr


al


part o


f t


he financial stat


e


m


e


n


ts


.




4











MASCO CORPORATION 401(k) PLAN










STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS











For the year ended December 31, 2021


















































































































































































































ADDITIONS








Investment income:





Net appreciation in fair value of investments




$



168,964,626




Interest and dividend income




29,369,994




Total investment income




198,334,620







Contributions:





Participant




48,713,802




Participant rollover




31,037,813




Employer




39,327,992




Total contributions




119,079,607







Interest income on notes receivable from participants




1,025,392







Total additions




318,439,619







DEDUCTIONS








Benefit payments




(116,404,645)




Other, net




(508,547)




Total deductions




(116,913,192)







Net increase in net assets available for benefits




201,526,427







Net transfers into the Plan (Note A)




8,076,611







Net assets available for benefits:








Beginning of year




1,415,837,954







End of year




$



1,625,440,992


























The


acco


mpanying notes a


re


an integr


al


part o


f t


he financial stat


e


m


e


n


ts


.




5











MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS



















A.


DESCRIPTION OF PLAN




The following description of the Masco Corporation ("Company") 401(k) Plan ("Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions.




1.


General.


The Plan is a defined contribution plan covering hourly and salaried employees at certain divisions and subsidiaries of the Company. Eligible employees may participate in the Plan upon their date of hire. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").




2.


Contributions.


Participants may contribute (on either a pre-tax or Roth after-tax basis) up to 75 percent of their pre-tax annual compensation, as defined in the Plan. All employees who are eligible to participate under this Plan and who have attained the age of 50 before the end of the plan year shall be eligible to make catch-up contributions. Participants may also make rollover contributions representing distributions from individual retirement accounts, simplified employee pension plans, 403(b) and 457 plans or other employers' tax-qualified plans. The Company makes matching and/or profit sharing employer contributions in accordance with the provisions of the Plan. These employer contributions, if applicable, vary by division or subsidiary and are invested pursuant to the participant's investment election. At December 31, 2021 and 2020, employer profit sharing contributions receivable totaled $14,925,351 and $18,543,600, respectively. Contributions are subject to certain Internal Revenue Service ("IRS") limitations. Participants may direct contributions in one percent increments in any of the various investment options. Participants may change their investment options daily.




3.


Participant Accounts.


Each active participant's account is credited with the participant's contributions and allocations of (a) employer contributions (if applicable), and (b) investment earnings (losses), as defined in the Plan. Plan administrative expenses are paid by the Company and not charged to participants' accounts. Certain expenses may be incurred by individual participants for special services relating to their accounts. These costs are charged directly to the individual participant's account. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.




4.


Vesting and Forfeited Employer Contributions.


Participants are immediately vested in their contributions plus actual earnings thereon. Participants are also immediately vested in the Company matching contribution plus earnings thereon. Vesting in Company profit sharing contributions occurs after three years of service commencing at date of hire. At December 31, 2021 and 2020, forfeited nonvested accounts totaled $694,197 and $678,135, respectively. During 2021, employer contributions were reduced by $537,797 from forfeited nonvested accounts.




5.


Voting Rights.


Each participant who has an interest in the Masco Corporation Company Stock Fund is entitled to exercise voting rights attributable to the shares allocated to his or her Stock Fund account and is notified by the Trustee, Fidelity Management Trust Company ("Fidelity"), as defined by the Plan, prior to the time that such rights are to be exercised. If the Trustee does not receive timely instructions, the Trustee itself or by proxy shall vote all such shares in the same ratio as the shares with respect to which instructions were received from participants.




6.


Notes Receivable from Participants.


Generally, participants may borrow from their account a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their vested account balance at the time of the loan. Loan terms generally range from




1-5




years, or up to 15 years in limited circumstances. The loans are collateralized by the balance in the participant's account and generally bear interest at a rate equal to the Prime Rate on the last business day of the month prior to the date of the loan application. Principal and interest are generally paid ratably through payroll deductions.




In response to coronavirus disease 2019, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. The CARES Act permitted qualified Plan participants to withdraw penalty-free distributions of up to $100,000 during 2020, increased the loan cap to the lesser of 100% of the vested balance or $100,000, and allowed for certain participant loan repayments to be delayed up to one year. The Plan Administrator elected to implement these provisions of the CARES Act.






6









MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS, Continued











A. DESCRIPTION OF PLAN (Concluded)




7.


Payment of Benefits.


Generally, after separation from service due to termination, death, disability or retirement, a participant may elect to receive an amount equal to the value of the participant's vested interest in his or her account in a single lump-sum amount, or in various installment options pursuant to plan provisions. In-service and hardship withdrawals are distributed in a single payment.




8.


Plan Merger


. In 2020, Masco executed amendments to merge the Masco Corporation Hourly 401(k) Plan into the Masco Corporation 401(k) Plan effective December 30, 2020.










9.


Transfers.


Net transfers into the Plan was $8,076,611 for the year ended December 31, 2021 and includes $8,073,873 due to a transfer of cash from certain affiliated defined-benefit pension plans. The transfer from affiliated plans reduced the amount of employer profit sharing contributions owed under the Plan.






B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES




The following is a summary of significant accounting policies in accordance with accounting principles generally accepted in the United States of America ("GAAP") followed in the preparation of these financial statements.




Basis of Accounting.


The accompanying financial statements are prepared on the accrual basis of accounting.




Use of Estimates.


The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of additions and deductions during the reporting period. Actual results could differ from these estimates and assumptions.




Risks and Uncertainties.


The Plan provides for various investment options in collective trust funds, mutual funds, a stock fund and other investment securities. Investment securities are exposed to various risks, including interest rate, market and credit risks. Due to the level of risk associated with certain collective trust funds, mutual funds, stock funds and other investment securities and the level of uncertainty related to changes in the value of investment securities, it is reasonably possible that changes in risks in the near term could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.




Investment Valuation and Income Recognition.


Investments are stated at fair value. See Note C for a summary of the valuation method by type of fund.




Investment transactions are reflected on a trade-date basis. Interest income is recognized on the accrual basis of accounting. Dividend income is recorded on the ex-dividend date. Income from other securities is recorded as earned on an accrual basis.




The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments, which consists of the realized gains or losses and the unrealized appreciation (depreciation) of those investments.




Notes Receivable from Participants.


Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. No allowance for credit losses has been recorded as of December 31, 2021 or 2020. Delinquent notes receivable from participants that had a distributable event are recorded as benefit payments based upon the terms of the Plan.




Payment of Benefits.


Benefits are recorded when paid.




































7











MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS, Continued











C. FAIR VALUE MEASUREMENTS






Accounting Policy.


The Plan follows fair value guidance (ASC 820) that defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The guidance defines fair value as "the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date." Further, it defines a fair value hierarchy, as follows: Level 1 inputs as quoted prices in active markets for identical assets or liabilities; Level 2 inputs as observable inputs other than Level 1 prices, such as quoted market prices for similar assets or liabilities or other inputs that are observable or can be corroborated by market data; and Level 3 inputs as unobservable inputs that are supported by little or no market activity and that are financial instruments whose value is determined using pricing models or instruments for which the determination of fair value requires significant management judgment or estimation.




A description of the valuation methodologies used for assets measured at fair value is as follows:






Collective trust funds:


Valued based on Net Asset Value ("NAV") of units held in the collective trust, which is used as a practical expedient to estimate fair value as of December 31, 2021 and 2020. The value is determined by reference to the respective fund’s underlying assets, with the exception of the Plan’s stable value collective trust investment where the collective trust’s contract value NAV represents fair value since this is the amount at which the Plan transacts with the collective trust.






Mutual funds:


Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission ("SEC"). These funds are required to publish their daily NAV and transact at that price. The mutual funds held by the Plan are deemed to be actively traded.




Stock fund:


Valued at the closing price as reported on the active market on which the security is traded.




Self-directed brokerage account:


Participant-directed investments that primarily include common stocks, mutual funds, certificates of deposit ("CDs"), and cash. Common stocks are valued at the closing price as reported on the active market on which the individual securities are traded. Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the SEC. These funds are required to publish their daily NAV and transact at that price. The mutual funds held by the Plan are deemed to be actively traded. CDs are valued at amortized cost, which approximates fair value.




The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.






































































8









MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS, Continued











C. FAIR VALUE MEASUREMENTS (Continued)




The following tables set forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2021 and 2020.




































































































































Assets at Fair Value as of December 31, 2021




Level 1



Level 2



Level 3



Measured at NAV



Total



Collective trust funds



$








$








$








$



975,567,504




$



975,567,504




Mutual funds



522,854,294



















522,854,294




Stock fund



33,058,096



















33,058,096




Self-directed brokerage account



54,294,253



















54,294,253





Total assets at fair value




$



610,206,643




$








$








$



975,567,504




$



1,585,774,147






































































































































Assets at Fair Value as of December 31, 2020




Level 1



Level 2



Level 3



Measured at NAV



Total



Collective trust funds



$








$








$








$



636,006,599




$



636,006,599




Mutual funds



665,892,735



















665,892,735




Stock fund



26,770,072



















26,770,072




Self-directed brokerage account



42,674,861



















42,674,861





Total assets at fair value




$



735,337,668




$








$








$



636,006,599




$



1,371,344,267
































































































































9









MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS, Continued











C. FAIR VALUE MEASUREMENTS (Concluded)




The following table summarizes investments measured at fair value using the NAV per share practical expedient as of December 31, 2021 and 2020. Were the Plan to initiate a full redemption of the collective trust funds, the investment adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure the securities liquidations will be carried out in an orderly business manner.


























































































































































































































































































Fair Value at December 31,







2021



2020



Unfunded Commitments



Redemption Frequency



Redemption Notice Period



Collective trust funds:








FIAM Small Capitalization Core Commingled Pool Class D



$



28,905,890




$



21,747,971




None



Daily



30 days



Fidelity® Diversified International Commingled Pool



48,983,314




49,479,415




None



Daily



30 days



Fidelity® Low-Priced Stock Commingled Pool



37,632,839




26,398,200




None



Daily



30 days



FIAM Blend Target Date 2005 Commingled Pool Class X



1,422,623




1,545,857




None



Daily



30 days



FIAM Blend Target Date 2010 Commingled Pool Class X



5,935,362




5,797,440




None



Daily



30 days



FIAM Blend Target Date 2015 Commingled Pool Class X



8,935,672




9,946,631




None



Daily



30 days



FIAM Blend Target Date 2020 Commingled Pool Class X



43,334,819




39,095,914




None



Daily



30 days



FIAM Blend Target Date 2025 Commingled Pool Class X



74,104,055




63,143,389




None



Daily



30 days



FIAM Blend Target Date 2030 Commingled Pool Class X



112,415,506




94,263,947




None



Daily



30 days



FIAM Blend Target Date 2035 Commingled Pool Class X



80,218,281




67,195,038




None



Daily



30 days



FIAM Blend Target Date 2040 Commingled Pool Class X



73,045,229




60,159,380




None



Daily



30 days



FIAM Blend Target Date 2045 Commingled Pool Class X



69,626,132




56,497,058




None



Daily



30 days



FIAM Blend Target Date 2050 Commingled Pool Class X



46,630,846




36,800,820




None



Daily



30 days



FIAM Blend Target Date 2055 Commingled Pool Class X



26,180,839




21,182,042




None



Daily



30 days



FIAM Blend Target Date 2060 Commingled Pool Class X



13,221,006




9,100,039




None



Daily



30 days



FIAM Blend Target Date 2065 Commingled Pool Class X



966,969









None



Daily



30 days



FIAM Blend Target Date Income Commingled Pool Class X



4,591,000




5,579,203




None



Daily



30 days



FIAM Core Plus Commingled Pool Class K



61,175,063




54,616,292




None



Daily



30 days



Harbor Capital Appreciation CIT Class 4



223,978,625









None



Daily



30 days



Managed Income Portfolio Class II



14,263,434




13,457,963




None



Daily



12 months




Total investments measured at NAV




$



975,567,504




$



636,006,599











D.    INCOME TAX STATUS




The Plan is a volume submitter plan and received an opinion letter dated March 31, 2014 stating that the Plan is designed in accordance with the applicable sections of the Internal Revenue Code ("Code"). The Plan has since been amended; however, the Plan Administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code. Therefore, no provision for income taxes has been included in the Plan's financial statements.




Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2021




and




2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress.




































10











MASCO CORPORATION 401(k) PLAN










NOTES TO FINANCIAL STATEMENTS, Concluded











E.    PLAN TERMINATION




Although the Company has not expressed an intent to do so, the Company has the right at any time to discontinue its contributions and to terminate the Plan, subject to the provisions of ERISA. At the date of any such termination, all participants would become fully vested in their accounts and the Administrative Committee of the Plan shall direct the Trustee to




distribute to the participants all assets of the Plan, net of any termination expenses.












F.    RELATED PARTY AND PARTY-IN-INTEREST TRANSACTIONS




Certain Plan investments are in shares of collective trust funds and mutual funds managed by Fidelity or an affiliate thereof. Fidelity is also the Trustee as defined by the Plan and, therefore, these purchases and sales qualify as party-in-interest transactions. There were no fees paid by the Plan for investment management services for the year ended December 31, 2021. Notes receivable from participants are also considered party-in-interest transactions.




The Plan invests in a Masco Corporation Common Stock Fund. As of December 31, 2021 and 2020, the value of the Masco Corporation Common Stock Fund, which exclusively included Masco Corporation Common Stock, was $33,058,096 and $26,770,072, respectively. For the year ended December 31, 2021, the Masco Corporation Common Stock Fund appreciated in value by $7,298,612 and earned dividend income of $402,103.












G


.


RECONCILIATION OF PLAN'S FINANCIAL STATEMENTS TO FORM 5500




Participant loans are shown net of deemed distributions on Form 5500. The following is a reconciliation of net assets per the financial statements to Form 5500:



















































































As of December 31,





2021




2020



Net assets available for benefits per the financial statements




$



1,625,440,992





$



1,415,837,954




Less: Deemed distributions




439,616





400,238




Net assets per Form 5500




$



1,625,001,376





$



1,415,437,716






The following is a reconciliation of the net increase in net assets available for benefits per the financial statements to net income per Form 5500 for the year ended December 31:





















































2021



Net increase in net assets available for benefits per the financial statements




$



201,526,427




Less: Change in deemed distributions




39,378




Net income per Form 5500




$



201,487,049














H


.    SUBSEQUENT EVENTS




The Plan Administrator has evaluated subsequent events through June 17, 2022, the date the financial statements were issued, and determined that no subsequent events have occurred requiring adjustments to the financial statements or disclosures.
















11











MASCO CORPORATION 401(k) PLAN










SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)










December 31, 2021






































































































































































































































































































































































































































































































































(a)




(b)


Identity of Issue,


Borrower or


Similar Party




(c)


Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value and Number of Shares Outstanding




(d)


Cost*




(e)


Current Value





Artisan Mid Cap Fund -




Mutual fund









Institutional Class




1,764,278 shares






$



93,647,898






JP Morgan Mid Cap Value Fund - Class L




Mutual fund













731,838 shares






30,451,769






Vanguard Wellington Fund™ -




Mutual fund









Admiral™ Shares




537,791 shares






45,066,866






Dodge & Cox Stock Fund




Mutual fund











234,835 shares






57,595,567




**




Fidelity® Extended Market Index Fund




Mutual fund











136,707 shares






11,922,224




**




Fidelity® Institutional Money Market




Mutual fund









Government Portfolio - Institutional Class




63,214,383 shares






63,214,383




**




Fidelity® 500 Index Fund




Mutual fund











930,491 shares






153,828,706




**




Fidelity® Emerging Markets Fund - Class K




Mutual fund











657,719 shares






28,709,417




**




Fidelity® International Index Fund -




Mutual fund









Institutional Class




318,853 shares






15,716,272




**




Fidelity® U.S. Bond Index Fund




Mutual fund











1,894,924 shares






22,701,192




**




Managed Income Portfolio Class II




Collective trust fund











14,263,434 shares






14,263,434






Harbor Capital Appreciation CIT Class 4




Collective trust fund











15,828,878 shares






223,978,625




**




Fidelity® Diversified International




Collective trust fund









Commingled Pool




2,519,718 shares






48,983,314




**




Fidelity® Low-Priced Stock




Collective trust fund









Commingled Pool




1,698,999 shares






37,632,839




**




FIAM Small Capitalization Core




Collective trust fund









Commingled Pool Class D




142,802 shares






28,905,890




**




FIAM Blend Target Date Income




Collective trust fund









Commingled Pool Class X




273,236 shares






4,591,000




**




FIAM Core Plus




Collective trust fund









Commingled Pool Class K




2,579,050 shares






61,175,063




**




FIAM Blend Target Date 2005




Collective trust fund









Commingled Pool Class X




76,961 shares






1,422,623




**




FIAM Blend Target Date 2010




Collective trust fund









Commingled Pool Class X




284,269 shares






5,935,362








12









MASCO CORPORATION 401(k) PLAN










SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR), Concluded










December 31, 2021































































































































































































































































































































































































































(a)




(b)


Identity of Issue,


Borrower or


Similar Party




(c)


Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value and Number of Shares Outstanding




(d)


Cost*




(e)


Current Value



**




FIAM Blend Target Date 2015




Collective trust fund









Commingled Pool Class X




404,712 shares






8,935,672




**




FIAM Blend Target Date 2020




Collective trust fund









Commingled Pool Class X




1,921,406 shares






43,334,819




**




FIAM Blend Target Date 2025




Collective trust fund









Commingled Pool Class X




3,067,843 shares






74,104,055




**




FIAM Blend Target Date 2030




Collective trust fund









Commingled Pool Class X




4,531,622 shares






112,415,506




**




FIAM Blend Target Date 2035




Collective trust fund









Commingled Pool Class X




2,960,379 shares






80,218,281




**




FIAM Blend Target Date 2040




Collective trust fund









Commingled Pool Class X




2,647,535 shares






73,045,229




**




FIAM Blend Target Date 2045




Collective trust fund









Commingled Pool Class X




2,510,027 shares






69,626,132




**




FIAM Blend Target Date 2050




Collective trust fund









Commingled Pool Class X




1,706,527 shares






46,630,846




**




FIAM Blend Target Date 2055




Collective trust fund









Commingled Pool Class X




892,938 shares






26,180,839




**




FIAM Blend Target Date 2060




Collective trust fund









Commingled Pool Class X




672,582 shares






13,221,006




**




FIAM Blend Target Date 2065




Collective trust fund









Commingled Pool Class X




64,449 shares






966,969




**




Masco Corporation Company Stock Fund




Stock fund











470,779 shares






33,058,096




**




Fidelity BrokerageLink®




Self-directed brokerage account











54,294,253 shares






54,294,253




**




Notes Receivable from Participants




Ranging 1-15 years maturity with











rates of interest, 3.25% - 8.25%






22,089,449












$



1,607,863,596












* Historical cost information is not required on the Schedule of Assets (Held at End of Year) for participant-directed investments.










** These investments are with a party-in-interest.






13











MASCO CORPORATION 401(k) PLAN










SIGNATURE

















The Plan.




Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

























































Masco Corporation 401(k) Plan









By:



Masco Corporation, Plan Administrator of the Masco Corporation 401(k) Plan































































Date:



June 17, 2022



By:



/s/ John G. Sznewajs






John G. Sznewajs






Vice President, Chief Financial Officer






Authorized Signatory













14











MASCO CORPORATION 401(k) PLAN










EXHIBIT INDEX























































Exhibit Number




Description






Consent of Grant Thornton LLP relating to the Plan's financial statements













15




The above information was disclosed in a filing to the SEC. To see the filing, click here.

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