SECURITIES AND EXCHANGE COMMISSION
THE SECURITIES EXCHANGE ACT OF 1934
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Marietta, Georgia 30067
![[MISSING IMAGE: sg_shyamkreddy-bw.jpg]](https://www.sec.gov/Archives/edgar/data/0001301787/000110465925033743/sg_shyamkreddy-bw.jpg)
President and Chief Executive Officer
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| | | | By Order of the Board of Directors, | |
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April 10, 2025
Marietta, Georgia |
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Christin C. Lumpkin
General Counsel and Corporate Secretary |
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Marietta, Georgia 30067
770-953-7000
| Anuj Dhanda | | | Shyam K. Reddy | |
| Kim S. Fennebresque | | | J. David Smith | |
| Keith A. Haas | | | Carol B. Yancey | |
| Mitchell B. Lewis | | | Marietta Edmunds Zakas | |
Name
|
| |
Position
|
|
Anuj Dhanda | | | Director (since 2023) | |
Kim S. Fennebresque | | | Non-Executive Chairman of the Board of Directors (Director since 2013, Chairman since 2016) | |
Keith A. Haas | | | Director (since 2022) | |
Mitchell B. Lewis | | | Former President and Chief Executive Officer (2014-June 2021) and Director (since 2014) | |
Shyam K. Reddy | | | President and Chief Executive Officer and Director (since 2023) | |
J. David Smith | | | Director (since 2017) | |
Carol B. Yancey | | | Director (since 2021) | |
Marietta Edmunds Zakas | | | Director (since 2022) | |
independent registered public accounting firm for fiscal 2025.
| | |
2024
|
| |
2023
|
| ||||||
Audit Fees(1)
|
| | | $ | 1,792,500 | | | | | $ | 1,373,582 | | |
Audit-Related Fees(2)
|
| | | | — | | | | | | — | | |
Tax Fees(3)
|
| | | | — | | | | | | — | | |
All Other Fees(4)
|
| | | $ | 50,000 | | | | | $ | 180,000 | | |
Total
|
| | | $ | 1,842,500 | | | | | $ | 1,553,582 | | |
COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS
Name of Beneficial Owner
|
| |
Number of Shares
Beneficially Owned |
| |
Percentage of
Shares Outstanding |
| ||||||
More than 5% Owners | | | | | | | | | | | | | |
BlackRock, Inc.(1)
|
| | | | 1,124,913 | | | | | | 13.75% | | |
Dimensional Fund Advisors LP(2)
|
| | | | 554,458 | | | | | | 6.78% | | |
The Vanguard Group(3)
|
| | | | 496,056 | | | | | | 6.06% | | |
Tontine Asset Associates, LLC(4)
|
| | | | 485,162 | | | | | | 5.93% | | |
Non-Employee Directors | | | | | | | | | | | | | |
Kim S. Fennebresque(5)
|
| | | | 112,082 | | | | | | 1.37% | | |
Anuj Dhanda(6)
|
| | | | 2,901 | | | | | | * | | |
Dominic DiNapoli(7)
|
| | | | 58,028 | | | | | | * | | |
Keith A. Haas(8)
|
| | | | 3,891 | | | | | | * | | |
Mitchell B. Lewis(9)
|
| | | | 36,377 | | | | | | * | | |
J. David Smith(10)
|
| | | | 46,351 | | | | | | * | | |
Carol B. Yancey(11)
|
| | | | 7,443 | | | | | | * | | |
Marietta Edmunds Zakas(12)
|
| | | | 3,891 | | | | | | * | | |
Named Executive Officers | | | | | | | | | | | | | |
Shyam K. Reddy
|
| | | | 37,877 | | | | | | * | | |
Michael Wilson
|
| | | | 1,900 | | | | | | * | | |
All current executive officers and directors as a group (11 persons)(13)
|
| | | | 310,904 | | | | | | 3.80% | | |
Andrew Wamser(14)
|
| | | | 3378 | | | | | | * | | |
Tricia Kinney(15)
|
| | | | 881 | | | | | | * | | |
Name
|
| |
Age
|
| |
Position
|
|
Shyam K. Reddy
|
| |
50
|
| |
President and Chief Executive Officer
|
|
Michael Wilson.
|
| |
62
|
| | Chief Commercial Officer | |
Kimberly DeBrock.
|
| |
57
|
| | Interim Principal Financial Officer | |
Officer
|
| |
Base Salary ($)
|
| |||
Shyam K. Reddy
|
| | | | 797,654 | | |
Andrew Wamser
|
| | | | 575,000 | | |
Michael Wilson(1)
|
| | | | 443,423 | | |
Tricia Kinney
|
| | | | 403,288 | | |
Performance Metric
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |||||||||
ADJUSTED EBITDA (IN MILLIONS)(1)
|
| | | $ | 113.5 | | | | | $ | 133.6 | | | | | $ | 200.3+ | | |
ROWC(2) | | | | | 23% | | | | | | 27.1% | | | | | | 40.7% | | |
Officer
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |||||||||
Shyam K. Reddy
|
| | | | 55% | | | | | | 110% | | | | | | 220% | | |
Andrew Wamser
|
| | | | 40% | | | | | | 80% | | | | | | 160% | | |
Michael Wilson
|
| | | | 32.5% | | | | | | 65% | | | | | | 130% | | |
Tricia Kinney
|
| | | | 32.5% | | | | | | 65% | | | | | | 130% | | |
Officer
|
| |
Performance-
Based RSU’s |
| |
Time-Based
RSU’s |
| |
Total
|
| |||||||||
Shyam K. Reddy
|
| | | | 15,361 | | | | | | 15,361 | | | | | | 30,722 | | |
Andrew Wamser
|
| | | | 3,680 | | | | | | 3,680 | | | | | | 7,360 | | |
Michael Wilson
|
| | | | 2,912 | | | | | | 2,912 | | | | | | 5,824 | | |
Tricia Kinney(1)
|
| | | | 2,100 | | | | | | 2,099 | | | | | | 4,199 | | |
| | Applied Industrial Technologies, Inc. | | | | MRC Global Inc. | | | |
SiteOne Landscape Supply, Inc.
|
| |
| | Beacon Roofing Supply, Inc. | | | | DNOW Inc. | | | | TopBuild Corp. | | |
| | Boise Cascade Company | | | |
Patrick Industries, Inc.
|
| | | UFP Industries, Inc. | | |
| | GMS Inc. | | | | Pool Corporation | | | | Watsco, Inc. | | |
| | Louisiana-Pacific Corporation | | | | | | | | | | |
Kim S. Fennebresque
Keith A. Haas
2024 SUMMARY COMPENSATION TABLE
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Cash
Incentive ($) |
| |
Stock
Awards(1) ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||
Shyam K. Reddy(2)
PRESIDENT AND CHIEF EXECUTIVE OFFICER |
| | | | 2024 | | | | | | 797,654 | | | | | | — | | | | | | 3,000,003 | | | | | | 884,295 | | | | | | 27,407 | | | | | | 4,709,359 | | |
| | | 2023 | | | | | | 725,760 | | | | | | — | | | | | | 3,380,390 | | | | | | 785,292 | | | | | | 17,077 | | | | | | 4,908,519 | | | ||
| | | 2022 | | | | | | 501,985 | | | | | | — | | | | | | 1,510,944 | | | | | | 560,831 | | | | | | 6,980 | | | | | | 2,580,740 | | | ||
Andrew Wamser(3)
FORMER SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER |
| | | | 2024 | | | | | | 575,000 | | | | | | — | | | | | | 718,704 | | | | | | — | | | | | | 6,216 | | | | | | 1,299,920 | | |
| | | 2023 | | | | | | 254,329 | | | | | | — | | | | | | 1,718,743 | | | | | | 238,209 | | | | | | 3,686 | | | | | | 2,214,967 | | | ||
Michael Wilson(4)
CHIEF COMMERCIAL OFFICER |
| | | | 2024 | | | | | | 443,423 | | | | | | — | | | | | | 568,714 | | | | | | 288,012 | | | | | | 10,855 | | | | | | 1,311,004 | | |
Tricia Kinney(5)
FORMER GENERAL COUNSEL AND CORPORATE SECRETARY |
| | | | 2024 | | | | | | 403,288 | | | | | | — | | | | | | 426,584 | | | | | | 265,823 | | | | | | 10,068 | | | | | | 1,105,763 | | |
| | | 2023 | | | | | | 155,491 | | | | | | — | | | | | | 360,155 | | | | | | 118,792 | | | | | | 5,078 | | | | | | 780,476 | | |
Name
|
| |
Grant Date
|
| |
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards |
| |
Estimated Future Payouts Under
Equity Incentive Plan Awards |
| |
All Other
Stock Awards # |
| |
Grant Date
Fair Value of Stock and Option Awards $ |
| |||||||||||||||||||||||||||||||||||||||
|
Threshold
$ |
| |
Target
$ |
| |
Maximum
$ |
| |
Threshold
# |
| |
Target
# |
| |
Maximum
# |
| ||||||||||||||||||||||||||||||||||||||
Shyam Reddy
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
STIP
|
| | | | | | | | | | 443,300 | | | | | | 975,260 | | | | | | 1,773,200 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
PRSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,608 | | | | | | 15,361 | | | | | | 30,722 | | | | | | — | | | | | | 1,500,002 | | |
RSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,361 | | | | | | 1,500,002 | | |
Andrew Wamser
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
STIP
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
PRSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,104 | | | | | | 3,680 | | | | | | 7,360 | | | | | | — | | | | | | 359,352 | | |
RSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,680 | | | | | | 359,352 | | |
Michael Wilson
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
STIP
|
| | | | | | | | | | 147,875 | | | | | | 295,750 | | | | | | 591,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
PRSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | 874 | | | | | | 2,912 | | | | | | 5,824 | | | | | | — | | | | | | 284,357 | | |
RSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,912 | | | | | | 284,357 | | |
Tricia Kinney
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
STIP
|
| | | | | | | | | | 133,258 | | | | | | 266,516 | | | | | | 533,032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
PRSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | 630 | | | | | | 2,100 | | | | | | 4,200 | | | | | | — | | | | | | 205,065 | | |
RSUs
|
| | | | 6/7/24 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,099 | | | | | | 213,731 | | |
RSUs
|
| | | | 8/29/23 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,788 | | |
| | |
Option/SAR Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Option Exercisable |
| |
Number of
Securities Underlying Unexercised Option Unexercisable |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units That Have Not Vested(1) |
| |
Market
Value of Shares or Units That Have Not Vested ($)(2) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested (#)(3) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2)(3) |
| ||||||||||||||||||||||||
Shyam K. Reddy(4)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,183 | | | | | | 2,715,701 | | | | | | 35,475 | | | | | | 3,679,467 | | |
Andrew Wamser(5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,295 | | | | | | 1,378,957 | | | | | | 7,493 | | | | | | 777,174 | | |
Michael Wilson(6)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,161 | | | | | | 639,019 | | | | | | 9,316 | | | | | | 966,256 | | |
Tricia Kinney(7)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
Name
|
| |
Number of
Shares Acquired on Exercise (#) |
| |
Value
Realized on Exercise ($) |
| |
Number of
Shares Acquired on Vesting (#) |
| |
Value
Realized on Vesting(1) ($) |
| ||||||||||||
Shyam Reddy
|
| | | | — | | | | | | — | | | | | | 5,412 | | | | | | 528,482 | | |
Andrew Wamser
|
| | | | — | | | | | | — | | | | | | 4,808 | | | | | | 550,468 | | |
Michael Wilson
|
| | | | — | | | | | | — | | | | | | 3,323 | | | | | | 319,840 | | |
Tricia Kinney
|
| | | | — | | | | | | — | | | | | | 1,257 | | | | | | 127,788 | | |
Name
|
| |
Salary and
Cash Incentive ($)(1) |
| |
Continuing Medical
Coverage ($)(2) |
| |
Value of Time-Based
Restricted Stock Units ($)(3) |
| |
Value of Performance-
Based Restricted Stock ($)(4) |
| |
Total ($)
|
| |||||||||||||||
Shyam Reddy
|
| | | | 1,595,307 | | | | | | — | | | | | | 2,715,701 | | | | | | 1,673,730 | | | | | | 5,984,738 | | |
Andrew Wamser
|
| | | | 1,033,804 | | | | | | 22,711 | | | | | | — | | | | | | — | | | | | | 1,056,515 | | |
Michael Wilson
|
| | | | 731,435 | | | | | | 15,237 | | | | | | — | | | | | | — | | | | | | 746,672 | | |
Name
|
| |
Salary and
Incentive ($)(1) |
| |
Continuing Medical
Coverage ($)(2) |
| |
Value of Time-Based
Restricted Stock Units ($)(3) |
| |
Value of Performance-
Based Restricted Stock ($)(4) |
| |
Total ($)
|
| |||||||||||||||
Shyam Reddy
|
| | | | 2,479,602 | | | | | | 0 | | | | | | 2,715,701 | | | | | | 3,679,467 | | | | | | 8,874,770 | | |
Andrew Wamser
|
| | | | 1,608,804 | | | | | | 34,066 | | | | | | 1,378,957 | | | | | | 777,174 | | | | | | 3,799,001 | | |
Michael Wilson
|
| | | | 731,435 | | | | | | 15,237 | | | | | | 639,019 | | | | | | 966,256 | | | | | | 2,351,947 | | |
Year | | | Summary Comp. Table Total for 1st PEO ($)(1) | | | Summary Comp. Table Total for 2nd PEO ($)(1) | | | Summary Comp. Table Total for 3rd PEO ($)(1) | | | Comp. Actually Paid to 1st PEO ($)(2)(5) | | | Comp. Actually Paid to 2nd PEO ($)(2)(5) | | | Comp. Actual Paid to 3rd PEO ($)(2)(5) | | | Average Summary Comp. Table Total for Non-PEO NEOs ($)(3) | | | Average Comp. Actually Paid to Non-PEO NEOs ($)(4) | | | Value of Initial Fixed $100 Investment Based on: | | | Net Income (000’s) ($)(8) | | | Adj. EBITDA (000’s) ($)(9) | | |||||||||||||||||||||||||||||||||||||||
| BX CTSR ($)(6) | | | Peer Group TSR ($)(7) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | | | (b) | | | (b) | | | (b) | | | (c) | | | (c) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | (h) | | | (i) | | ||||||||||||||||||||||||||||||||||||
2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
O’Farrell 2021: Kelly Janzen, Shyam Reddy
Fiscal 2022: Kelly Janzen, Shyam Reddy, Kevin A. Henry
Fiscal 2023: Kelly Janzen, Kevin A. Henry, Tricia Kinney, Andrew Wamser
Fiscal 2024: Michael Wilson, Tricia Kinney, Andrew Wamser
| | | 1st PEO ($) | | | Average for Non-PEO ($) | | ||||||
Summary Compensation Table (SCT) | | | | | | | | | | | | | |
Adjustments | | | | | | | | | | | | | |
Less: Grant-date fair value of equity award amounts reported in SCT for covered year | | | | | ( | | | | | | ( | | |
Plus: Year-end fair value of equity awards granted in covered year | | | | | | | | | | | | | |
Change in fair value of outstanding, unvested awards granted in prior years(10) | | | | | ( | | | | | | ( | | |
Fair value as of vesting date for awards granted and vested in covered year | | | | | | | | | | | | | |
For awards granted in prior years that vest in the fiscal year, the change in fair value from the end of the prior fiscal year to the vesting date | | | | | ( | | | | | | ( | | |
For awards granted in prior years that are determined to fail to meet the applicable vesting conditions (i.e., are forfeited), deduct the amount equal to the fair value at the end of the prior fiscal year | | | | | | | | | | ( | | | |
Compensation Actually Paid | | | | | | | | | | | |
| Performance Metrics | |
| | |
| | |
| | |
![[MISSING IMAGE: bc_peergroup-4c.jpg]](https://www.sec.gov/Archives/edgar/data/0001301787/000110465925033743/bc_peergroup-4c.jpg)
Name
|
| |
Fees Earned or
Paid in Cash ($)(1) |
| |
Stock Awards
($)(2) |
| |
All Other
Compensation ($)(3) |
| |
Total ($)
|
| ||||||||||||
Anuj Dhanda
|
| | | | 90,000 | | | | | | 135,018 | | | | | | — | | | | | | 225,018 | | |
Dominic DiNapoli
|
| | | | 105,000 | | | | | | 135,018 | | | | | | — | | | | | | 240,018 | | |
Kim S. Fennebresque
|
| | | | 140,000 | | | | | | 225,098 | | | | | | — | | | | | | 365,098 | | |
Keith A. Haas
|
| | | | 90,000 | | | | | | 135,018 | | | | | | 14,543 | | | | | | 239,561 | | |
Mitchell B. Lewis
|
| | | | 90,000 | | | | | | 135,018 | | | | | | 9,856 | | | | | | 234,874 | | |
J. David Smith
|
| | | | 105,000 | | | | | | 135,018 | | | | | | — | | | | | | 225,018 | | |
Carol B. Yancey
|
| | | | 120,000 | | | | | | 135,018 | | | | | | 9,856 | | | | | | 264,874 | | |
Marietta Edmunds Zakas
|
| | | | 90,000 | | | | | | 135,018 | | | | | | — | | | | | | 225,018 | | |
Board of Directors:
Dominic DiNapoli
Marietta Edmunds Zakas
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