BUILDERS FIRSTSOURCE, INC. (NASDAQ:BLDR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 29, 2018, the Board of Directors (the “Board”) of Builders FirstSource, Inc. (the “Company”) appointed David E. Rush as the Company’s Senior Vice President – Chief Operating Officer – East.He will be responsible for overseeing all the Company’s operations in the eastern half of the United States.He succeeds Morris Tolly, who passed away on October 31, in that position.
Mr. Rush, age 56, had been Senior Vice President – Strategy and Business Development of the Company since August 2017.Prior to that, he had served as Senior Vice President – Integration since the acquisition of ProBuild Holdings LLC by the Company in July 2015.From 2003 to 2015, Mr. Rush was an Area Vice President, with responsibility for more than 18 Company locations in South Carolina, North Carolina, and Tennessee.He joined the Company as Vice President of Finance of the Southeast Group in 1999.Before joining Builders FirstSource, Mr. Rush worked in various accounting and finance positions, primarily with multi-location distribution companies, including as Chief Financial Officer of the Bojangles Restaurant chain.He holds a B.A. in accounting from the University of North Carolina at Chapel Hill.
In connection with his promotion, Mr. Rush’s base salary was raised to $450,000 per year.His target bonus percentage will continue to be 50% of his base salary.Mr. Rush will enter into an employment agreement that is substantially similar to the agreements in place with the Company’s other executive officers, including without limitation non-competition and severance provisions.
Mr. Rush is not a party to any transaction with any related person required to be disclosed to Item 404(a) of regulation S-K.
About BUILDERS FIRSTSOURCE, INC. (NASDAQ:BLDR)
Builders FirstSource, Inc. is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors and consumers. The Company’s operating segments include Northeast, Southeast, South and West. It offers solution to its customers providing manufacturing, supply and installation of a range of structural and related building products. Its manufactured products include factory-built roof and floor trusses, wall panels and stairs, vinyl windows, custom millwork and trim, as well as engineered wood that it designs, cuts and assembles for each home. The Company also assembles interior and exterior doors into pre-hung units. Additionally, it supplies customers with offering of professional grade building products, such as dimensional lumber and lumber sheet goods, and various window, door and millwork lines. Its range of construction-related services includes professional installation, framing and shell construction