Business Context and Reporting Period
This Form 8-K Current Report was filed by BlueLinx Holdings Inc. on November 17, 2006. The filing addresses a specific corporate governance event: the departure of the Chief Financial Officer and the subsequent execution of a consulting agreement.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to the compensation arrangement for the departing executive:
- Monthly Consulting Fee: $28,990
- Agreement Term: 2 years
- Initial Payment: $173,940 (covering the first 6 months), payable six months after the resignation date.
- Subsequent Payments: $28,990 per month for the remaining 18 months.
Material Changes
The material change reported is the resignation of David J. Morris as Chief Financial Officer. Following his resignation from active employment, the Company entered into a consulting agreement to retain his services under specific terms, including confidentiality, non-solicitation, and a non-compete covenant.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of Mr. Morris's departure and the terms of the new agreement. The filing notes that Mr. Morris had previously announced his intention to leave the Company before the end of 2006. No forward-looking guidance, risk factors, or contingencies regarding the Company's general business operations are included in this specific report.
Investor Verification Checklist
- Verify the exact resignation date of David J. Morris to determine the precise timing of the initial $173,940 payment.
- Review the full text of the Consulting Agreement (Exhibit 10.1) for detailed non-compete and non-solicitation restrictions.
- Confirm the appointment of a successor Chief Financial Officer, as this filing only addresses the departure.
- Check subsequent filings for any impact of this compensation arrangement on the Company's quarterly or annual expense reports.