SiteOne Landscape Supply Announces Board and Executive Changes
Ticker: SITE · Form: 8-K · Filed: Feb 10, 2025 · CIK: 1650729
Sentiment: neutral
Topics: management-change, governance, compensation
Related Tickers: SITE
TL;DR
SiteOne Landscape Supply shakes up its board and exec pay structure.
AI Summary
SiteOne Landscape Supply, Inc. announced on February 5, 2025, changes in its board of directors and executive compensation. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key executives.
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: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategic direction and operational stability.
Key Players & Entities
- SiteOne Landscape Supply, Inc. (company) — Registrant
- February 5, 2025 (date) — Earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 300 Colonial Center Parkway, Suite 600 (address) — Principal executive office address
- Roswell, Georgia (location) — City and State of principal executive office
FAQ
What specific roles have seen departures or appointments?
The filing indicates the departure of certain officers and the election of new directors, but does not specify the exact roles affected in this summary.
When was the earliest event reported in this filing?
The earliest event reported was on February 5, 2025.
What is the state of incorporation for SiteOne Landscape Supply, Inc.?
SiteOne Landscape Supply, Inc. is incorporated in Delaware.
Where are SiteOne Landscape Supply, Inc.'s principal executive offices located?
The principal executive offices are located at 300 Colonial Center Parkway, Suite 600, Roswell, Georgia 30076.
What type of SEC filing is this?
This is a Form 8-K, a Current Report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 777 words · 3 min read · ~3 pages · Grade level 14 · Accepted 2025-02-10 16:05:25
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share SITE New York Stock Excha
Filing Documents
- tm255792d1_8k.htm (8-K) — 37KB
- tm255792d1_ex10-1.htm (EX-10.1) — 82KB
- tm225839d2_8kimg001.jpg (GRAPHIC) — 15KB
- 0001104659-25-010936.txt ( ) — 351KB
- site-20250205.xsd (EX-101.SCH) — 3KB
- site-20250205_lab.xml (EX-101.LAB) — 33KB
- site-20250205_pre.xml (EX-101.PRE) — 22KB
- tm255792d1_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Performance Unit Awards Effective February 5, 2025, the Human Resources and Compensation Committee (the "Committee") of the Board of Directors (the "Board") of SiteOne Landscape Supply, Inc. (the "Company") granted performance stock units ("PSUs") under the SiteOne Landscape Supply, Inc. 2020 Omnibus Equity Incentive Plan (the "Plan") to certain of the Company's officers, including certain named executive officers. The PSUs will be earned based upon the Company's performance over a three-year period, commencing December 30, 2024 and ending January 2, 2028. Seventy percent (70%) of the award will be measured by the Company's pre-tax income plus amortization expense for intangible assets ("EBTA") growth relative to a select peer group (excluding non-recurring items). Thirty percent (30%) of the award will be measured by the Company's return on invested capital ("ROIC"). Vesting of PSUs is contingent upon each named executive's continued employment, subject to certain exceptions as set forth in the PSU award agreement. The table below sets forth the performance criteria for the PSUs: Performance Level Relative EBTA Growth % Target Award (for 70% of Target Award) Absolute Avg. ROIC % Target Award (for 30% of Target Award) Maximum >=75 th percentile 200% >=20% 200% Target 50 th percentile 100% 16% 100% Threshold 25 th percentile 50% 12% 50% <Threshold <25 th percentile 0% <12% 0% Payout on relative EBTA growth performance capped at 100% of target if Company's absolute EBTA growth is negative. Payout for performance between levels noted above shall be determined using straight-line interpolation between threshold and target and between target and maximum for each metric, as applicable. The table below sets forth the number of PSUs awarded to the C
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Form of Performance Stock Unit Award Agreement under the SiteOne Landscape Supply, Inc. 2020 Omnibus Equity Incentive Plan. 104 Cover Page Interactive Data 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. SITEONE LANDSCAPE SUPPLY, INC. By: /s/ Briley Brisendine Briley Brisendine Executive Vice President, General Counsel and Secretary Date: February 10, 2025 EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K Dated February 10, 2025 10.1 Form of Performance Stock Unit Award Agreement under the SiteOne Landscape Supply, Inc. 2020 Omnibus Equity Incentive Plan.