Business Context and Reporting Period
This Form 8-K Current Report was filed by BlueLinx Holdings Inc. on March 29, 2022, regarding an event that occurred on March 23, 2022. The filing discloses the appointment of a new senior executive officer.
Key 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 changes and compensation arrangements.
Material Changes
The primary material change reported is the appointment of Adam K. Bowen as Vice President and Chief Accounting Officer. Mr. Bowen previously served as the Company's Senior Director of Accounting and Corporate Controller since May 2020.
Management Commentary and Compensation
As part of his appointment, Mr. Bowen's compensation package includes:
- Annual Base Salary: $280,000
- Target Annual Bonus: 40% of base salary
- Long-Term Incentive Plan (LTIP): Eligible for annual equity grants with a target value of at least 40% of base salary for the 2022 grant
The filing states there are no family relationships between Mr. Bowen and any director or executive officer, and no undisclosed arrangements influenced his selection.
Investor Verification Checklist
- Verify the effective date of the appointment (March 23, 2022).
- Confirm the specific compensation terms outlined in the Company's Long-Term Incentive Plan.
- Review Mr. Bowen's prior tenure within the Company (since April 2019) to assess internal promotion continuity.