Patrick Industries Reports Director Changes and Officer Compensation

Ticker: PATK · Form: 8-K · Filed: 2024-03-11T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, officer-compensation, director-change

Related Tickers: PATK

TL;DR

Board shuffle at PATK: Kuehn out, Bader in. Officer pay details coming.

AI Summary

On March 5, 2024, Patrick Industries, Inc. filed an 8-K report detailing the departure of director Michael J. Kuehn and the election of new director Jeffrey L. Bader. The company also announced compensatory arrangements for certain officers, though specific details and dollar amounts for these arrangements were not immediately disclosed in this filing.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance matters like director changes and compensation disclosures, which typically carry low immediate risk.

Key Players & Entities

FAQ

Who has departed from the board of directors at Patrick Industries, Inc.?

Michael J. Kuehn has departed from the board of directors.

Who has been elected as a new director to the board?

Jeffrey L. Bader has been elected as a new director.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is March 5, 2024.

What other items are disclosed in this 8-K filing besides director changes?

The filing also discloses compensatory arrangements of certain officers and includes financial statements and exhibits.

What is the state of incorporation for Patrick Industries, Inc.?

The state of incorporation for Patrick Industries, Inc. is Indiana.

Filing Stats: 1,051 words · 4 min read · ~4 pages · Grade level 11.2 · Accepted 2024-03-11 16:26:00

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure The information referenced in this Form 8-K is furnished pursuant to Item 7.01, "Regulation FD Disclosure." Such information, including the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. (a) Slides for Investor Presentation as contained in Exhibit 99.2 and is incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit 10.1 - Employment Agreement, dated March 5, 2024, by and between Patrick Industries, Inc. and Andrew C. Roeder Exhibit 99.1 - Press Release issued March 5, 2024 Exhibit 99.2 - Slides for Investor Presentation Exhibit 104 - Cover Page Interactive Date File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PATRICK INDUSTRIES, INC. (Registrant) Date: March 11, 2024 By: /s/ Andy L. Nemeth Andy L. Nemeth Chief Executive Officer

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