11-K 1 a201911-knventrsip.htm 11-K Document
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 11-K

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

For the fiscal year ended December 31, 2019
OR

¨
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-38265

A.
Full title of the plan and the address of the plan if different from that of the issuer named below:
nVent Management Company Retirement Savings and Investment Plan
nVent Management Company
1665 Utica Avenue South, Suite 700
St. Louis Park, Minnesota 55416
 
B:
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
nVent Electric plc
The Mille, 1000 Great West Road, 8th Floor (East)
London, TW8 9DW
United Kingdom




NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN
TABLE OF CONTENTS
 
 
Page
 
 
 
NOTE: All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
 



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Plan Participants and Plan Administrator of
nVent Management Company Retirement Savings and Investment Plan
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the nVent Management Company Retirement Savings and Investment Plan (the "Plan") as of December 31, 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2019, 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, 2019, and the changes in net assets available for benefits for the year ended December 31, 2019, 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. 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.
Report on Supplemental Schedules
The supplemental schedule of assets (held at end of year) as of December 31, 2019 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule 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 schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in compliance 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, such schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Deloitte & Touche LLP
Minneapolis, Minnesota
June 23, 2020

We have served as the auditor of the Plan since 2020.







NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2019
 
ASSETS:
 
 
Participant-directed investments — at fair value
 
$
474,219,780

Receivables
 
 
Notes receivable from participants
 
5,957,440

Employee contributions
 
357,838

Employer contributions
 
187,251

Other
 
1,806

       Total receivables
 
6,504,335

Total assets
 
480,724,115

NET ASSETS AVAILABLE FOR BENEFITS
 
$
480,724,115

See accompanying notes to financial statements.

2



NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2019
 
ADDITIONS:
 
Contributions
 
       Employee
$
19,749,646

       Employer
10,823,846

       Rollover
1,919,739

       Other employer
133,787

Total contributions
32,627,018

Investment income
 
       Interest and dividend income
6,016,792

       Net appreciation in the fair value of investments
58,351,582

Total investment income
64,368,374

Total additions
96,995,392

DEDUCTIONS:
 
Distributions to participants
46,425,265

Administrative expenses
110,471

Total deductions
46,535,736

INCREASE IN NET ASSETS BEFORE PLAN TRANSFERS
50,459,656

PLAN TRANSFERS (see note 1)
430,264,459

INCREASE IN NET ASSETS
480,724,115

NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year

NET ASSETS AVAILABLE FOR BENEFITS — End of year
$
480,724,115

See accompanying notes to financial statements.


3

Notes to financial statements
As of and for the year ended December 31, 2019



1.
DESCRIPTION OF THE PLAN
The following description of the nVent Management Company Retirement Savings and Investment Plan (the "Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan.
The Separation In April 2018, Pentair plc ("Pentair") completed the separation of its Water business and its Electrical business into two independent, publicly traded companies (the "Separation"). To effect the Separation, Pentair distributed to its shareholders one ordinary share of nVent Electric plc ("nVent" or the "Company") for every ordinary share of Pentair held as of the record date of April 17, 2018 (the "Distribution"). The Separation was effective on May 1, 2018.
In connection with the Separation and Distribution, the nVent Board of Directors approved the Plan for Pentair employees who transferred employment to nVent. The Plan was established on January 1, 2019. In accordance with the Employee Matters Agreement between Pentair and nVent, on January 30, 2019, $424,191,697 in investment assets and $6,072,762 in participant loans were transferred from the Pentair, Inc. Retirement Savings and Stock Incentive Plan ("Pentair Plan") into the newly formed Plan, and are presented within Plan Transfers in the Statement of Changes in Net Assets Available for Benefits. The assets transferred included $44,815,180 of investments held in a stable value fund. The stable value fund is discussed further in note 3.
General Information  The Plan is a defined contribution plan with a cash or deferred arrangement described in Internal Revenue Code ("IRC") Section 401(k). With certain exceptions, the Plan covers employees of U.S. subsidiaries of the Company who have attained age 18, although such employees must have one year of service before becoming vested in employer matching contributions. nVent Management Company is a subsidiary of the Company, and is the Plan sponsor as well as Plan administrator. Fidelity Management Trust Company ("Fidelity") is recordkeeper and trustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended.
Participation Participation for regular full- and part-time employees may commence effective with the date of hire, provided that the employee is at least age 18. Participant contributions are subject to a maximum of 50% of pre-tax compensation and 15% of after-tax compensation for a combined limit of 65% of compensation. Employee contributions are also subject to the IRC 402(g) limitation of $19,000 for 2019. Employees who will be age 50 or older are permitted to make additional catch up contributions to the Plan up to the IRC limitation of $6,000 for 2019.
The Plan has an automatic enrollment feature for new employees at a rate of 5% of eligible compensation with an automatic annual increase of 1% per year until the participant reaches a deferral rate of 10%. Employees can opt-out of automatic enrollment and automatic annual increase at any time.
In 2019, matching contributions were 100% of the first 5% of eligible compensation that are contributed to the Plan by the participant on a pre-tax basis and are made in the form of cash.
Participant Accounts  Individual accounts are maintained for each Plan participant. Each participant's account is credited with the participant's contributions, the Company's matching contributions, and investment gains and losses, and charged with withdrawals and allocations of Plan administrative expenses. The benefit to which a participant is entitled under the Plan is the value of the participant's vested account.
Investments  Participants direct the investment of their account into various investment options offered by the Plan and may change investments and transfer amounts daily. The Plan currently offers various investment alternatives to Plan participants, consisting of corporate stock, mutual funds and stable value funds. Participants cannot allocate more than 25% of their contributions into the Company’s ordinary shares. Investment management fees are charged against 401(k) trust earnings before such earnings are allocated to participant accounts.
Notes receivable from participants  Loans for any reason are allowed under the Plan. The interest rate charged is prime rate plus 1% at the time funds are borrowed. The maximum maturity of the loans is five years (15 years for loans to purchase a primary residence). The minimum loan amount is $1,000, and the maximum is the lesser of 50% of the vested account balance, not including employer contributions, or $50,000. Due to transfers of notes receivable from participants related to plan transfers in the current year, loans outstanding as of December 31, 2019 may bear interest at rates higher than the prime rate plus 1%, however, there are no loans outstanding with an original maturity greater than 15 years.

4

Notes to financial statements
As of and for the year ended December 31, 2019


Vesting  Participants are vested immediately in all elective deferral, after-tax, rollover, and discretionary contributions, plus actual earnings thereon. All matching contributions are 100% vested upon completion of 12 months of service. Matching contributions transferred into this Plan from the Pentair Plan were 100% vested if the employee was hired by Pentair prior to January 1, 2018. Vesting service includes service with Pentair if the employee was employed by Pentair as of April 30, 2018.
Administrative Expenses  Administrative expenses of the Plan are paid in part by the Plan sponsor and the participants as provided in the Plan document.
The Plan has a revenue-sharing agreement whereby certain investment managers return a portion of the investment fees to the recordkeeper to offset the Plan's administrative expenses. Future Plan expenses can be paid from any excess remaining revenue sharing amounts. During 2019, there were no Plan expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $13,015 at December 31, 2019.
Payment of Benefits  Upon severance from service for any reason, a participant may elect to receive a lump-sum amount equal to the value of the participant's vested account balance. Some participants can also elect annual installments over a term-certain period.
Hardship Withdrawals Hardship withdrawals are available for immediate and heavy financial need up to the amount of pre-tax contributions and earnings thereon. Hardship withdrawals can occur any time with a maximum of two per calendar year.
Forfeitures The plan document permits the use of forfeitures to either reduce future employer contributions or plan administrative expenses for the plan year. As of December 31, 2019, forfeited nonvested accounts totaled $130,871. During the year ended December 31, 2019, employer contributions and plan administrative expenses were not reduced as a result of forfeited nonvested accounts.
2.
SIGNIFICANT ACCOUNTING POLICIES

Basis of accounting
The financial statements of the Plan have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America ("GAAP").

Use of estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Investment valuation and income recognition
The Plan provides various investment options to its participants, including corporate stock, mutual funds and stable value funds. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the value of the participants' account balances and the amounts reported in the financial statements.

The Plan's investments are stated at fair value. Accounting guidance related to fair value measurements, which establishes a single authoritative definition of fair value, sets a framework for measuring fair value, and requires additional disclosures about fair value measurements (see note 3). Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation and depreciation in the fair value of investments includes gains and losses in investments sold during the year as well as appreciation and depreciation of the investments held at year end.

Notes receivable from participants
Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.

Payment of benefits
Benefit payments to participants are recorded upon distribution. There were no participants who have elected to withdraw from the Plan but had not yet been paid at December 31, 2019.

5

Notes to financial statements
As of and for the year ended December 31, 2019


3.
FAIR VALUE MEASUREMENTS
The Plan's estimates of fair value for financial assets are based on the framework established in the fair value accounting guidance. Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date in the Plan's principal or most advantageous market for the asset or liability. Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of unobservable inputs. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (level 1 measurements) and gives the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs within the fair value hierarchy are defined as follows:
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Plan has the ability to access.
Level 2: Significant other observable inputs other than level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
Level 3: Significant unobservable inputs that reflect the Plan's own assumptions about the assumptions that market participants would use in pricing an asset or liability.
In some cases, a valuation technique used to measure fair value may include inputs from multiple levels of the fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.
Certain investments are measured at fair value on a recurring basis in the statement of net assets available for benefits. The following methods and assumptions were used to estimate the fair values:
Mutual funds, ordinary shares and other investments These investments are classified as level 1 and consist of various publicly-traded money market funds, mutual funds, ordinary shares and other investments. Ordinary shares are valued at the closing price reporting on the active market on which the securities are traded on the last business day of the Plan year. Shares of registered investment companies, consisting of mutual funds, are valued at quoted market prices and are actively traded.
Common/collective trusts These investments consist of various other collective investment trust funds. The underlying investments in these collective investment trust funds primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are valued at net asset value ("NAV"), which is based on the fair value of the underlying securities owned by the fund and divided by the number of shares outstanding. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. There are no unfunded commitments within these trusts, and participant-directed withdrawals may be made at any time without penalty, regardless of their frequency or amount.
Stable value fund A collective trust fund that is composed primarily of fully benefit-responsive investment contracts that is valued at the NAV of units of the bank collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different from the reported NAV. Participant transactions (purchases and sales) may occur daily. If the Plan initiates a full redemption of the collective trust, the issuer reserves the right to require 12 months’ notification in order to confirm that securities liquidations will be carried out in an orderly business manner.
In accordance with GAAP, investments measured at NAV as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the following tables are intended to permit reconciliation to the amount presented in the statement of net assets available for benefits.

6

Notes to financial statements
As of and for the year ended December 31, 2019


The fair values of the Plan's investments measured at fair value on a recurring basis and their respective level within the fair value hierarchy was as follows:
 
 
December 31, 2019
 
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
nVent Electric plc ordinary shares
 
$
16,082,951

 
$

 
$

 
$
16,082,951

Pentair plc ordinary shares
 
25,858,895

 

 

 
25,858,895

Interest-bearing cash
 
2,062,443

 

 

 
2,062,443

Mutual funds:
 
 
 
 
 
 
 


Blended funds
 
20,262,214

 

 

 
20,262,214

Growth funds
 
6,096,599

 



 
6,096,599

Value funds
 
34,133,084

 

 

 
34,133,084

International funds
 
11,572,552

 

 

 
11,572,552

Net investments in the fair value hierarchy
 
$
116,068,738


$

 
$

 
$
116,068,738

Investments valued at NAV- common/collective trusts
 
 
 
 
 
 
 
$
317,560,170

Investments valued at NAV- stable value fund
 
 
 
 
 
 
 
40,590,872

Total investments at fair value
 
$
116,068,738

 
$

 
$


$
474,219,780

Transfers Between Levels  The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period.
We evaluate the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total net assets available for benefits. For the year ended December 31, 2019, there were no transfers between levels.
4.
FEDERAL INCOME TAX STATUS
The Internal Revenue Service ("IRS") has determined and informed the Company by a letter dated May 24, 2019, that the Plan and related trust were designed in accordance with the applicable regulations of the IRC. The Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC, and the Plan and related trust continue to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
5.
EXEMPT PARTY-IN-INTEREST TRANSACTIONS
Certain Plan investments are stable value funds and shares of mutual funds managed by Fidelity. Fidelity is the trustee and recordkeeper as defined by the Plan. These transactions qualify as exempt party-in-interest transactions. Fees paid by the Plan for investment management services were included as a reduction of the return earned on each fund. Administrative revenues arise when investment managers return a portion of the investment fees to Fidelity to offset the administrative expenses. Any excess resulting from this revenue sharing remains in an unallocated account from which future Plan expenses can be paid. During 2019, there were no Plan expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $13,015 at December 31, 2019.
At December 31, 2019, the Plan held 563,719 ordinary shares of Pentair. During the year ended December 31, 2019, the Plan had transfers in of $26,373,271 of ordinary shares of Pentair from the Pentair Plan due to the Separation, and the Plan recorded dividend income of $246,102 with respect to the ordinary shares of Pentair.
At December 31, 2019, the Plan held 628,687 ordinary shares of nVent, the parent of the sponsoring employer, with a cost basis of $7,798,558. During the year ended December 31, 2019, the Plan had transfers in of $17,957,436 of ordinary shares of nVent from the Pentair Plan due to the Separation, and the Plan recorded dividend income of $268,479 with respect to the ordinary shares of nVent.

7



6.
PLAN TERMINATION
Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, participants would become 100% vested in their accounts.
7.
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
As of December 31, 2019, the reconciliation of net assets available for benefits per the financial statements to the Form 5500 was as follows:
Net assets available for benefits per the financial statements
$
480,724,115

Less: Cumulative deemed distributions of participant loans
(303,860
)
Net assets available for benefits per Form 5500
$
480,420,255

For the year ended December 31, 2019, reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 was as follows:
Change in net assets available for benefits per the financial statements
$
480,724,115

Less: Change in cumulative deemed distributions of participant loans
(303,860
)
Change in net assets available for benefits per Form 5500
$
480,420,255

8. SUBSEQUENT EVENTS
In March 2020, the World Health Organization declared the novel strain of coronavirus ("COVID-19") a pandemic. The pandemic has significantly impacted the economic conditions in the U.S. and global financial markets. There is significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on economic activity globally. The impact on the Plan’s investments and the Statements of Net Assets Available for Benefits and Changes in Net Assets Available for Benefits is uncertain and cannot be determined at this time.
In response to the adverse effects of the COVID-19 pandemic, effective July 1, 2020, the Company will reduce the employer matching contributions to 50% of the first 5% of eligible compensation that are contributed to the Plan by the participant on a pre-tax basis until further notice.

On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security ("CARES") Act. The CARES Act provides temporary relief for retirement plan sponsors and their participants with respect to distributions and participant loans. The provisions of the CARES Act may be effective and operationalized immediately, prior to amending the plan document.
*    *    *    *    *    *


8



SUPPLEMENTAL SCHEDULE FURNISHED PURSUANT TO THE
REQUIREMENTS OF FORM 5500


9



NVENT MANAGEMENT COMPANY RETIREMENT SAVINGS AND INCENTIVE PLAN
 
(EIN: 82-3123161)
 
 
 
 
(Plan #001)
FORM 5500, SCHEDULE H, LINE 4i — SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2019
 
 
 
 
Current
Description
 
Cost
 
Value
COMMON/COLLECTIVE TRUSTS:
 
 
 
 
JPMorgan SmartRetirement Passive Blend Income Fund
 
*
 
$
5,688,890

JPMorgan SmartRetirement Passive Blend 2020 Fund
 
*
 
22,122,553

JPMorgan SmartRetirement Passive Blend 2025 Fund
 
*
 
34,459,142

JPMorgan SmartRetirement Passive Blend 2030 Fund
 
*
 
33,268,345

JPMorgan SmartRetirement Passive Blend 2035 Fund
 
*
 
16,031,796

JPMorgan SmartRetirement Passive Blend 2040 Fund
 
*
 
19,837,917

JPMorgan SmartRetirement Passive Blend 2045 Fund
 
*
 
12,441,225

JPMorgan SmartRetirement Passive Blend 2050 Fund
 
*
 
16,636,719

JPMorgan SmartRetirement Passive Blend 2055 Fund
 
*
 
8,423,123

JPMorgan SmartRetirement Passive Blend 2060 Fund
 
*
 
1,333,654

Fidelity Growth Company Comingled Pool(1)
 
*
 
87,960,428

Legal & General US Total Stock Market Index
 
*
 
45,195,596

Legal & General International Developed Index
 
*
 
2,194,833

Principal Diversified Real Asset Inst
 
*
 
316,086

BlackRock Total Return Bond Fund
 
*
 
11,649,863

Total common collective trusts
 
 
 
$
317,560,170

REGISTERED INVESTMENT COMPANIES:
 
 
 
 
Oakmark Fund Investor Class
 
*
 
$
26,399,921

Dodge & Cox International Stock Fund
 
*
 
11,572,552

Fidelity US Bond Index PR(1)
 
*
 
4,097,141

Victory Integrity Small Cap Value Fund R6
 
*
 
7,733,164

AMG Times Square Small Cap Growth Fund
 
*
 
16,165,072

Vanguard International Growth Fund Adm
 
*
 
6,096,599

Total registered investment companies
 
 
 
$
72,064,449

INTEREST-BEARING CASH
 
 
 
 
Vanguard Federal Money Market
 
*
 
$
2,049,428

Vanguard Prime Money Market ADM
 
*
 
13,015

Total interest-bearing cash
 
 
 
$
2,062,443

ORDINARY SHARES
 
 
 
 
Pentair plc ordinary shares(1)
 
*
 
$
25,858,895

nVent Electric plc ordinary shares(1)
 
*
 
16,082,951

Total ordinary shares
 
 
 
$
41,941,846

STABLE VALUE FUND:
 
 
 
 
Fidelity Managed Income Portfolio II, CL 1 (1)
 
*
 
$
40,590,872

PARTICIPANT PROMISSORY NOTES LOANS — Loan Fund (1) (2)
 
*
 
$
5,653,580

TOTAL
 
 
 
$
479,873,360

(1)
Party-in-interest.
(2)
Interest rates range from 3.25% to 11.50%. Maturity dates range from 2020 to 2035.
*    Cost information is not required for participant-directed investments and, therefore, is not included.

10




EXHIBIT INDEX
 
Exhibit
No.
  
Description
 
 
 
  
Consent of Independent Registered Public Accounting Firm


11



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, nVent Management Company, who administers the nVent Management Company Retirement Savings and Investment Plan has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, on June 23, 2020. 
nVent Management Company Retirement Savings and Investment Plan
By nVent Management Company
 
 
By
/s/ Randolph A. Wacker
 
Randolph A. Wacker
 
President and Treasurer

12