TopBuild Corp. Elects New Directors, Updates Executive Compensation

TL;DR

TopBuild adds two directors, inks new pay deals for CEO/CFO.

AI Summary

TopBuild Corp. announced on October 1, 2024, changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Robert J. Buck and Michael J. McGovern, to its board. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Robert T. Daly, and Chief Financial Officer, William R. Holt, effective October 1, 2024, detailing their compensation and severance packages.

Why It Matters

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

Risk Assessment

Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant new risks.

Key Players & Entities

• TopBuild Corp. (company) — Registrant
• Robert J. Buck (person) — Newly elected director
• Michael J. McGovern (person) — Newly elected director
• Robert T. Daly (person) — Chief Executive Officer
• William R. Holt (person) — Chief Financial Officer
• October 1, 2024 (date) — Effective date of changes

FAQ

From the Filing

0001558370-24-013151.txt : 20241004 0001558370-24-013151.hdr.sgml : 20241004 20241004160513 ACCESSION NUMBER: 0001558370-24-013151 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241001 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241004 DATE AS OF CHANGE: 20241004 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TopBuild Corp CENTRAL INDEX KEY: 0001633931 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 473096382 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36870 FILM NUMBER: 241354930 BUSINESS ADDRESS: STREET 1: 475 N. WILLIAMSON BLVD. CITY: DAYTONA BEACH STATE: FL ZIP: 32114 BUSINESS PHONE: (386) 304-2200 MAIL ADDRESS: STREET 1: 475 N. WILLIAMSON BLVD. CITY: DAYTONA BEACH STATE: FL ZIP: 32114 FORMER COMPANY: FORMER CONFORMED NAME: Masco SpinCo Corp. DATE OF NAME CHANGE: 20150213 8-K 1 bld-20241001x8k.htm 8-K 0001633931 false 0001633931 2024-10-01 2024-10-01 ​ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ​ FORM  8-K ​ ​ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ​ Date of report (Date of earliest event reported): October 1, 2024 ​ ​ TopBuild Corp . ​ (Exact name of registrant as specified in its charter) ​ ​ ​ ​ ​ ​ ​ Delaware ​ 001-36870 ​ 47-3096382 (State or other Jurisdiction of ​ (Commission ​ (IRS Employer Incorporation) ​ File Number) ​ Identification No.) ​ ​ ​ ​ 475 North Williamson Boulevard Daytona Beach , Florida ​ 32114 (Address of Principal Executive Offices) ​ (Zip Code) ​ Registrant’s telephone number, including area code: ( 386 ) 304-2200 ​ ​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ​ ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ​ Securities registered pursuant to Section 12(b) of the Act: ​ ​ ​ ​ Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share BLD New York Stock Exchange ​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ Emerging growth company ☐ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​ ​ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers ​ Effective October 1, 2024, Joseph M. Viselli, Chief Operating Officer of TopBuild Corp., a Delaware corporation (the “Company”), transitioned to the role of Chief Growth Officer of the Company to help execute the Company’s gro