Document


(Mark One)
ý			ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the period from October 9, 2020 through December 31, 2020
Or
o			TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 1-37654

We have audited the accompanying statement of net assets available for benefits of Vontier Retirement Savings Plan (the Plan) as of December 31, 2020, and the related statement of changes in net assets available for benefits for the period from October 9, 2020 (Inception) to December 31, 2020, 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 at December 31, 2020, and the changes in its net assets available for benefits for the period from October 9, 2020 (Inception) to December 31, 2020, in conformity with U.S. generally accepted accounting principles.

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.

The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2020, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The information in the supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the 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 schedule. In forming our opinion on the information, we evaluated whether such 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 information is fairly stated, in all material respects, in relation to the financial statements as a whole.



ADDITIONS
Contributions:
Participant	$	3.6
Rollovers	0.7
Employer	2.7
Total contributions	7.0
Investment income:

Net investment gain from Plan’s interest in Master Trust	24.1
Total investment income	24.1
Transfer in of Plan Assets	313.0
Total additions	344.1
DEDUCTIONS
Benefit payments	5.7
Total deductions	5.7
NET INCREASE	338.4
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of period	—
End of period	$	338.4

The following description of the Vontier Retirement Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan document and summary plan description for a more complete description of the Plan’s provisions.

Vontier Corporation (“Vontier,” “the Company” or “the Plan Sponsor”) is a global industrial technology company. Vontier is a Delaware corporation and was incorporated in 2020 in connection with the separation of Vontier from Fortive Corporation (“Fortive”) on October 9, 2020 as an independent, publicly traded company (the “Separation”). The Separation was completed in the form of a pro rata distribution of 80.1% of the Outstanding common stock of Vontier to Fortive stockholders of record on September 25, 2020. Each stockholder of record received two shares of Vontier common stock for every 5 shares of Fortive common stock held on the record date. In anticipation of the Separation, Vontier assumed sponsorship of the Plan effective October 9, 2020.

The Plan is a defined contribution plan established for eligible full-time and part-time non-union employees of the Company and its subsidiaries. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and the Plan is administered through affiliates of the trustee, Fidelity Management Trust Company (“Fidelity” or the “Plan Administrator”). Significant provisions related to contributions, benefit payments, and investments are provided below.

Prior to the Separation, certain Vontier employees participated in the Fortive Retirement Savings Plan (the “Fortive Plan”). On October 9, 2020, the account balances of Vontier employees participating in the Fortive Plan were transferred to the Plan. As a result, the fair value of Plan assets of $313.0 million were transferred from the Fortive Plan and the Fortive Corporation & Subsidiaries Master Trust into the Plan and the Vontier Retirement Savings Plan Master Trust (the “Master Trust”). The Master Trust was established by the Company effective October 9, 2020 and is administered by Fidelity. The Master Trust created a single trust formed to hold and invest assets of the Plan and other eligible tax-qualified defined contribution plans maintained by the Plan Sponsor. Refer to Note 3 for additional information regarding the Master Trust.

The Company’s retirement contributions are determined at the discretion of the Plan Sponsor. The discretionary retirement contribution can range from 0% to 2% of eligible compensation, as defined by the Plan document. For the period ended December 31, 2020, the retirement contribution was 2% of eligible compensation. The portion of the retirement contribution that is calculated on eligible compensation above the Social Security wage base in effect at the beginning of the Plan year is calculated and deposited into eligible participant accounts subsequent to the Plan year end. Participants are eligible for Company retirement contributions upon completion of one year of service and become fully vested upon completion of three years of service.

In addition, the Company makes matching contributions into the Plan. These matching contributions are considered “safe harbor” and the percentage for the safe harbor matching contributions has been established in the Plan document. The Company matching contribution is 100% of the first 3% of eligible compensation, as defined, contributed by the participant plus 50% of the next 2% of eligible compensation contributed. Participants are immediately 100% vested in all safe harbor matching contributions.

A participant who attains normal retirement age (age 65) shall be entitled to payment of the balance in their account. A participant who remains employed after attainment of normal retirement age shall continue to participate under the same terms and conditions as applied prior to reaching normal retirement age. A participant must begin receiving distributions no later than April 1 following the later of the year in which they retire from the Company or the calendar year in which they reach the age of 72.

Upon a participant’s termination of employment for reasons other than as specified above, a participant is entitled to payment of their vested account balance. If the vested value of the participant’s account is $1,000 (applied separately to Roth and non-Roth balances) or less, payment will automatically be made in a single lump sum. If the vested value of the participant’s Roth or non-Roth balances is greater than $1,000 and does not exceed $5,000, the Plan Administrator will automatically rollover the Roth or non-Roth balances to a separate Fidelity Individual Retirement Account. If the vested value of the participant’s account is more than $5,000, the participant must contact the Plan Administrator to request a distribution.

Eligible participants may request a hardship or age 59 1/2 in-service withdrawal of all or a portion of their vested account while still working for the Company in accordance with procedures established by the Plan Administrator, subject to certain limitations and tax penalties.

A participant may receive a loan from the Plan in accordance with the policy established by the Plan Sponsor. Any such loan or loans shall not exceed the lesser of 50% of the participant’s vested account balance or $50,000 reduced by the participant’s highest outstanding loan balance in the Plan during the one-year period ending on the day before the loan is made. The Plan Administrator establishes the maximum maturity period that is permitted to prevent the loan from being treated as a distribution. Plan provisions require that all loans must be paid back within 60 months. The Plan Administrator may require loan payments to be made through payroll deductions.

Each participant account is credited with the participant’s contributions, employer safe harbor matching contributions, employer retirement contributions, and an allocation of Plan earnings or losses, and is charged quarterly with administrative expenses and recordkeeping fees. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

The Plan participates in a revenue credit program (“Credits”). Credits are earned in connection with the Plan’s revenue sharing arrangements with certain investment funds. The Credits are deposited in an unallocated account and can be used to pay ERISA-qualified expenses or can be allocated to eligible participant accounts. The calculated Credit is funded quarterly in arrears by the Plan Administrator.

As of December 31, 2020, the Company had no unallocated and non-vested accounts, including forfeited amounts. If the Company were to have these amounts, they would be used to reduce future employer contributions and to pay administrative expenses.

Although the Company, as the Plan Sponsor, has not expressed an intention to do so, the Plan may be terminated at any time. In the event of termination of the Plan, the account balances of participants as of the date of termination shall immediately become vested.

On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. The CARES Act allows retirement plans to provide participants who are impacted by the coronavirus (as defined in the CARES Act) with greater access to their savings. As permitted by the CARES Act, the Plan opted in to implement the following provisions:

•Through December 31, 2020, qualified individuals are permitted to take a penalty-free distribution in an amount up to $100,000 from the Plan. Participants who take a qualified distribution have the option to have the distribution taxed over a three-year period, with the ability to recontribute up to the full amount of the distribution within three years and not be subject to federal income tax as a result.

•Loans outstanding on or after March 27, 2020, and any repayment on the loan that is due from March 27, 2020 to December 31, 2020, that due date may be delayed under the Plan for up to one year. Any payments after the suspension period will be adjusted to reflect the delay and any interest accruing during the delay.

The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that affect the reported amounts in the financial statements and accompanying notes and supplemental schedule. Actual results could differ from those estimates.

Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

Notes receivable from participants represent participant loans and are recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2020. If a participant ceases to make loan repayments and has reached a distributable event, the loan balance is reduced and a benefit payment is recorded.

Investments are reported at fair value. Fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Refer to Note 4 for discussion of fair value measurements.

Purchases and sales of securities are recorded on a trade date basis. Interest income is recorded on an accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

In February 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965) Employee Benefit Plan Master Trust Reporting. The new standard clarifies presentation requirements for a Plan’s interest in a master trust and requires plans that hold divided interests in a master trust to disclose the dollar amount of their interest in each of those general types of investments. Additionally, the amendments require all plans to disclose their master trust’s other asset and liability balances and the dollar amount of the Plan’s interest in each of those balances. The standard was effective for fiscal years beginning after December 15, 2018 using a retrospective transition approach. The Plan adopted ASU 2017-06 on October 9, 2020 and has presented its interest in the master trust in conformity with this standard as of December 31, 2020.

In July 2018, the FASB issued ASU 2018-09, Codification Improvements, which, among other things, amends an illustrative example of a fair value hierarchy disclosure to indicate that a certain type of investment is not always eligible to use the net

asset value per share practical expedient. Also, it further clarifies that an entity should evaluate whether a readily determinable fair value exists or whether its investments qualify for net asset value per share practical expedient in accordance with ASC 820, Fair Value Measurement. Adoption of the amended guidance, which is to be applied prospectively, affects the fair value disclosures, but does not change the fair value measurement of the investments. The Plan adopted ASU 2018-09 for the period ended December 31, 2020.

The FASB issued ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement (ASU 2018-13). The guidance eliminates, adds and modifies certain disclosure requirements for fair value measurements. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The guidance also modifies certain disclosure requirements for nonpublic entities to make them less burdensome. The guidance on fair value disclosures is effective for all entities for fiscal years beginning after December 15, 2019, and interim periods therein, but entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The Plan adopted ASU 2018-13 for the period ended December 31, 2020.

As discussed in Note 1, the Company established the Master Trust whereby investments are held collectively for certain defined contribution plans maintained by the Plan Sponsor. Each participating plan’s interest in the investment funds of the Master Trust is based on account balances of the participants and their elected funds within each participating plan.

The Master Trust assets are allocated among the participating plans by assigning to each plan those transactions (primarily contributions, benefit payments, and plan-specific expenses) that can be specifically identified and by allocating among all plans, in proportion to the fair value of the assets assigned to each plan, income and expenses resulting from the collective investment of the assets of the Master Trust. The Net Investment gain from Plan’s interest in the Master Trust’s presented in the Statement of Changes in Net Assets Available for Benefits consists of the realized and unrealized gains and losses and interest and dividend on those investments.



($ in millions)	Master Trust Balances		Plan’s Interest in Master Trust Balances

Money market funds	$	0.1	$	0.1
Fortive Corporation Stock Fund:
Fortive common stock	17.1		14.5
Money market funds	0.1		0.1
Vontier Corporation Stock Fund:
Vontier common stock	5.2		4.6
Money market funds	0.1		0.1
Mutual funds	100.8		90.3
Common/collective trusts	241.7		190.3
Separately managed funds	22.8		19.0
Self-directed brokerage account	16.0		15.0
Total investments in Master Trust, at fair value	403.9		334.0
Receivables	0.1		0.1
Payables	(0.1)		(0.1)
Total net assets in Master Trust	$	403.9	$	334.0

Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Plan’s assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation. Level 3 inputs are unobservable inputs based on management’s assumptions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The fair values of the Master Trust’s investments as of December 31, 2020, by asset category, were as follows:


($ in millions)	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total

Money market funds	$	0.1	$	—	$	—	$	0.1
Vontier Corporation Stock Fund:
Vontier common stock	5.2		—		—		5.2
Money market funds	0.1		—		—		0.1
Fortive Corporation Stock Fund:
Fortive common stock	17.1		—		—		17.1
Money market funds	0.1		—		—		0.1
Mutual funds	100.8		—		—		100.8
Separately managed funds:
Money market funds	0.4		—		—		0.4
Common stock	17.9		—		—		17.9
Mutual funds	4.5		—		—		4.5
Self-directed brokerage accounts	16.0		—		—		16.0
Common/collective trusts	241.7		—		—		241.7
Total investments in Master Trust, at fair value	$	403.9	$	—	$	—	$	403.9

The Vontier Corporation Stock Fund and Fortive Corporation Stock Fund consist of shares of the respective Company’s stock and short-term money market investments and are valued based on the quoted market price of the investments.

The self-directed brokerage accounts consist of certificates of deposit, corporate bonds, preferred stock, common stock and mutual funds, which are valued at the last reported sales price on the last business day of the year, and uninvested cash, which is recorded at carrying value as maturities are less than three months.

Participation units in the common/collective trust funds are valued using the net asset value of units held. The NAV is used to estimate fair value and is based on the fair value of the underlying investments held by the fund less its liabilities as determined by the issuer.

The methods described above may produce a fair value estimate that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes the valuation methods are appropriate and consistent with the methods used by 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.

The Plan has not received a determination letter from the Internal Revenue Service (“IRS”) stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the “Code”). However, the plan administrator believes that the Plan has been designed to comply with, and is operating in accordance with, the applicable requirements of the Code and, therefore, believes the Plan is qualified and the related trust is tax-exempt.

GAAP requires Plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Sponsor has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2020, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Additionally, as of December 31, 2020, the Master Trust held 0.2 million shares of Vontier common stock within the Vontier Corporation Stock Fund. As of December 31, 2020, the Master Trust also held 0.2 million shares of Fortive common stock within the Fortive Corporation Stock Fund. During the period from October 9, 2020 through December 31, 2020, the Vontier Corporation Stock Fund purchased $3.2 million and sold $1.7 million in Company stock and received no dividends related to shares of Vontier common stock. During the period from October 9, 2020 through December 31, 2020, the Fortive Corporation Stock Fund purchased $19.2 million and sold $3.3 million in Company stock and received $20 thousand of dividends related to shares of Fortive common stock.

AS OF DECEMBER 31, 2020

(a)

(b) Identity of issue, borrower, lessor or similar party

rate of interest, collateral, par, or maturity value

(d) Cost

(e) Current value

Participant loans

Interest rates range from 4.25% to 6.5% with maturity at various dates

4,443,442

* Party in interest.

** Historical cost not required to be presented as all investments are participant-directed.

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.


			Page
Report of Independent Registered Public Accounting Firm			4

AUDITED FINANCIAL STATEMENTS
Statement of Net Assets Available for Benefits as of December 31, 2020			5
Statement of Changes in Net Assets Available for Benefits for the Period from October 9, 2020 (Inception) to December 31, 2020			6
Notes to Financial Statements			7

SUPPLEMENTAL SCHEDULE
Form 5500, Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2020			13

Signatures			14

EXHIBIT
Exhibit 23.1 - Consent of Independent Registered Public Accounting Firm			15


($ in millions)
Net appreciation of the fair value of investments	$	26.7
Interest and dividend income	1.5
Total investment income of the Master Trust	$	28.2


	VONTIER RETIREMENT SAVINGS PLAN

June 25, 2021	By:	/s/ Anne Roest
		Anne Roest
		Vice President, Total Rewards


Exhibit Number						Description

23.1						Consent of Independent Registered Public Accounting Firm



ASSETS
Plan’s interest in the Master Trust	$	334.0
Receivables:


Notes receivable from participants	4.4

Total receivables	4.4




NET ASSETS AVAILABLE FOR BENEFITS	$	338.4