SiteOne Landscape Supply, Inc. (NYSE:SITE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation of Director
Effective as of March3, 2017, the Board of Directors (the Board)
of SiteOne Landscape Supply, Inc. (the Company) accepted the
resignation of John Lagemann.
Appointment of New Director
Effective as of March3, 2017, the Board filled the vacancy
created by Mr.Lagemanns resignation by appointing W. Roy Dunbar.
Mr.Dunbar will serve as a Class III Director for a term expiring
at the Companys 2019 annual stockholders meeting. The Board also
appointed Mr.Dunbar to serve on the Compensation Committee of the
Board, effective as of March3, 2017. The Board determined, after
considering all of the relevant facts and circumstances, that
Mr.Dunbar is independent as defined under New York Stock Exchange
(NYSE) listing standards.
No arrangements exist between the Company and Mr.Dunbar or any
other person to which he was selected as director. There are no
transactions in which Mr.Dunbar has an interest requiring
disclosure under Item404(a) of SEC Regulation S-K.
Mr.Dunbar will be entitled to participate in the Companys
non-employee director compensation plan and certain
indemnification rights. Such director compensation plan and
indemnification rights are described in more detail under
Executive Compensation-Director Compensation and Description of
Capital Stock-Limitations on Liability and Indemnification,
respectively, in the final prospectus filed by the Company with
the U.S. Securities and Exchange Commission on November30, 2016
to Rule 424(b)(4) under the Securities Act of 1933, as amended
(Registration No.333- 214628).
Compensation Committee of the Board Member Resignations and
Nominating and Corporate Governance Committee of the Board Member
Resignations and Appointments
In connection with Mr.Dunbars appointment, (i)Wes Robinson
resigned as a member of the Compensation Committee of the Board
and (ii)David H. Wasserman resigned as a member and Chairman of
the Nominating and Corporate Governance Committee of the Board
and as a member of the Compensation Committee of the Board; in
each case effective as of March3, 2017. In connection with these
events, the Board appointed (i)Jack L. Wyszomierski to serve as a
member and Chairman of the Nominating and Corporate Governance
Committee of the Board and (ii)William W. Douglas, III to serve
as a member of the Nominating and Corporate Governance Committee
of the Board; in each case effective as of March3, 2017.
Following these resignations and appointments, each of the
Companys Board committees is comprised of a majority of directors
that the Board has determined are independent as defined under
NYSE listing standards.
In connection with the appointment of Mr.Dunbar to the Companys
Board, the Company issued a press release on March3, 2017. A copy
of the press release is furnished as Exhibit 99.1 to this report.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits
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ExhibitNo. |
Description of Exhibit |
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| 99.1 |
Press Release of SiteOne Landscape Supply, Inc., dated March3, 2017. |
About SiteOne Landscape Supply, Inc. (NYSE:SITE)
SiteOne Landscape Supply, Inc. is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores. The Company offers a selection of fertilizer and control products, such as herbicides, irrigation supplies, landscape accessories, nursery goods, hardscapes, including pavers, natural stones and blocks, and outdoor lighting products. The Company’s customers are primarily residential and commercial landscape professionals specializing in the designing, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. The Company offers various products, such as spreader settings, LESCO equipment specification sheets, golf course supplies, seed: golf and greentech specification binder. SiteOne Landscape Supply, Inc. (NYSE:SITE) Recent Trading Information
SiteOne Landscape Supply, Inc. (NYSE:SITE) closed its last trading session up +0.52 at 39.94 with 281,433 shares trading hands.
