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
On April 10, 2017, the Board of Directors (the “Board”) of Builders FirstSource, Inc. (the “Corporation”) increased the size of the Board to nine directors and appointed David A. Barr to fill the newly created directorship. The Board affirmatively determined that he qualifies as an independent director. Mr. Barr has not been appointed to any committee of the Board.
Mr. Barr, age 53, was previously a director of the Corporation from February 2006 to July 2016. He has served as a managing director of Warburg Pincus, LLC since January 2001. Mr. Barr was a managing director at Butler Capital and focused on leveraged buy-out transactions for more than 10 years prior to joining Warburg Pincus in 2000. He also previously worked at Goldman Sachs. Mr. Barr received a B.A. in economics from Wesleyan University and an M.B.A. from Harvard Business School. He has served on the boards of numerous companies and currently serves on the boards of directors of Consolidated Precision Products, TriMark, and Universal Services of America.
Mr. Barr is not a party to any transaction with the Corporation that would require disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Barr and any other persons to which Mr. Barr was selected as a director.
Under the Corporation’s Amended and Restated Director Compensation Policy, eligible directors receive an annual cash retainer of $80,000 and an annual grant of restricted stock units with a value of $120,000. As an eligible director, Mr. Barr will receive compensation under that policy. Mr. Barr is covered by an indemnification agreement under which the Corporation has agreed to indemnify him against certain costs and liabilities that may arise from his service as a director of the Corporation.
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 Builders FirstSource, Inc. (NASDAQ:BLDR) Recent Trading Information
Builders FirstSource, Inc. (NASDAQ:BLDR) closed its last trading session down -0.29 at 14.78 with 741,460 shares trading hands.