Business Context and Reporting Period
This Form 8-K filing by Builders FirstSource, Inc. (Delaware) was submitted on April 10, 2017. The report addresses corporate governance changes, specifically the expansion of the Board of Directors and the appointment of a new director.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters rather than financial performance.
Material Changes
- Board Expansion: The Board of Directors increased its size from eight to nine members.
- New Appointment: David A. Barr was appointed to fill the newly created directorship.
- Independence: The Board affirmatively determined that Mr. Barr qualifies as an independent director.
Management Commentary and Compensation
Mr. Barr, age 53, previously served as a director from February 2006 to July 2016. He has been a managing director at Warburg Pincus, LLC since January 2001, with prior experience at Butler Capital and Goldman Sachs. He currently serves on the boards of Consolidated Precision Products, TriMark, and Universal Services of America.
Under the Corporation's Amended and Restated Director Compensation Policy, Mr. Barr will receive:
- An annual cash retainer of $80,000.
- An annual grant of restricted stock units with a value of $120,000.
Mr. Barr is covered by an indemnification agreement and has not been appointed to any Board committees at this time. There are no transactions requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- Confirm the effective date of Mr. Barr's appointment and any subsequent committee assignments.
- Verify the total number of directors on the Board following this expansion.
- Review the specific terms of the restricted stock unit grants to understand vesting schedules.
- Check for any future filings regarding Mr. Barr's committee appointments or changes to the compensation policy.