TopBuild Corp. (NYSE:BLD) Files An 8-K Entry into a Material Definitive Agreement

TopBuild Corp. (NYSE:BLD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.Entry into a Material Definitive Agreement.

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On November 7, 2018, TopBuild Corp., a Delaware corporation (“we,” “us” or “our”), entered into a $50.0 million accelerated share repurchaseagreement (the “2018 ASR Agreement”) with JPMorgan Chase Bank, National Association (“JPMorgan”). to the 2018 ASR Agreement, we will pay$50.0 million to JPMorgan in exchange for an initial delivery on November 8, 2018, of approximately 800,000 shares of our common stock, as agreed between us and JPMorgan.The final number of shares to be repurchased under the 2018 ASR Agreement will be based on the average of the daily volume-weighted average prices of our common stock during the term of the transaction, less an agreed discount, and subject to potential adjustments to the terms and conditions of the 2018 ASR Agreement.The final settlement of the transaction under the 2018 ASR Agreement is expected to occur during the first quarter of 2019.At final settlement, JPMorgan may be required to deliver additional shares of common stock to us, or, under certain circumstances, we may be required to deliver shares of our common stock or to make a cash payment, at our election, to JPMorgan.

The 2018 ASR Agreement is part of our previously announced $200.0 million, 24-month share repurchase plan, as approved by our Board of Directors.

About TopBuild Corp. (NYSE:BLD)

TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). The Company’s Installation segment principally includes the sales and installation of insulation and other building products. Its Distribution segment principally includes the distribution of insulation and other building products. It provides insulation installation services nationwide through its TruTeam contractor services business, which has over 180 installation branches located in approximately 44 states. It installs various insulation applications, which include fiberglass batts and rolls, blown-in loose fill fiberglass, blown-in loose fill cellulose and polyurethane spray foam. The Company distributes insulation and other building products, including rain gutters, fireplaces, closet shelving, and roofing materials through its Service Partners business.

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