Business Context and Reporting Period
This Form 8-K Current Report was filed by Bluelinx Holdings Inc. on May 12, 2006. The filing discloses the entry into a material definitive agreement regarding the establishment of annual base salary levels for the Company's named executive officers by the Compensation Committee of the Board of Directors.
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 executive compensation adjustments.
Material Changes and Executive Compensation
On May 12, 2006, the Compensation Committee established the following annual base salary levels for specific named executive officers:
- George R. Judd (President & Chief Operating Officer): $310,000
- David J. Morris (Treasurer & Chief Financial Officer): $226,000
- Barbara V. Tinsley (General Counsel & Secretary): $235,000
The annual base salary for Stephen E. Macadam (Chief Executive Officer) was previously set at $700,000 for 2006 under an employment agreement dated October 20, 2005, which was approved by the full Board.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the effective date of the new salary levels for the President, CFO, and General Counsel.
- Confirm that the CEO's salary remains at the previously agreed $700,000 level for 2006.
- Review the October 20, 2005 employment agreement for Stephen E. Macadam to understand the full compensation package context.