Builders FirstSource Inc
For the period ended Apr 23, 2024. Filed Apr 25, 2024.
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Apr 23, 2024 · Filed Apr 25, 2024
Contents
Summary Compensation Table
The following table sets forth the cash and other compensation that we paid to our NEOs, or that was otherwise earned by our NEOs, for their services in all capacities during 2023, 2022, and 2021.
| Name and Principal Position · Year · Salary($) · Stock Awards ($) · Bonus($) · Non-EquityIncentive Plan Compensation ($) · All OtherCompensation($) · Total ($) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| David E. Rush | ||||||||||
| Chief Executive Officer and | 2023 | 1,000,000 | 4,102,537 | (1) | — | 2,993,554 | (2) | 9,900 | (4) | 8,105,991 |
| President | 2022 | 586,589 | 499,990 | 150,000 | 1,214,970 | 9,200 | 2,460,749 | |||
| 2021 | 525,000 | 2,999,984 | 1,650,000 | — | 5,800 | 5,180,784 | ||||
| Peter M. Jackson | ||||||||||
| Executive Vice President and | 2023 | 685,785 | 1,539,730 | (1) | — | 1,355,658 | (2) | 9,900 | (4) | 3,591,073 |
| Chief Financial Officer | 2022 | 655,000 | 3,018,612 | 150,000 | 1,202,273 | 9,150 | 5,035,035 | |||
| 2021 | 625,000 | 1,513,224 | — | 1,021,669 | 5,800 | 3,165,693 | ||||
| Stephen J. Herron | ||||||||||
| Chief Operating Officer(3) | 2023 | 595,763 | 1,925,801 | (1) | — | 1,193,036 | (2) | 17,054 | (5) | 3,731,654 |
| Scott L. Robins | ||||||||||
| President – West Division | 2023 | 570,350 | 1,026,458 | (1) | — | 1,129,543 | (2) | 9,900 | (4) | 2,736,251 |
| 2022 | 550,000 | 1,809,898 | 150,000 | 1,009,470 | 9,200 | 3,528,568 | ||||
| 2021 | 525,000 | 807,059 | — | 858,202 | 5,800 | 2,196,061 | ||||
| Timothy D. Johnson | ||||||||||
| Executive Vice President, General | 2023 | 521,250 | 1,770,158 | (1) | — | 1,031,310 | (2) | 9,900 | (4) | 3,332,618 |
| Counsel and Corporate Secretary | 2022 | 500,000 | 1,759,284 | 150,000 | 917,765 | 14,661 | 3,341,710 | |||
| 2021 | 450,000 | 2,004,364 | — | 735,602 | 9,750 | 3,199,716 | ||||
Unless otherwise noted, reflects the aggregate grant date fair value of restricted stock unit awards, which for 2023 included both time-based vesting and performance-based vesting RSUs. The fair value of these awards was determined in accordance with the Compensation – Stock Compensation topic of the Financial Accounting Standards Board Accounting Standards Codification. The grant date fair value of time-based vesting RSUs was equal to the closing price of our Common Stock on the grant date. The grant date fair value of the performance-based vesting RSUs, utilizing an annual return on invested capital (“ROIC”) measurement for each of 2023-2025 individually and a cumulative ROIC measurement for performance over that three-year period, and subject to a total shareholder return modifier, was determined using the Monte Carlo simulation model, which is based on a number of factors. If achievement of the highest level of performance conditions is assumed, the grant date fair value of the awards to Messrs. Rush, Jackson, Herron, Robins and Johnson would increase by $2,442,854, $947,715, $750,986, $631,743 and $631,743, respectively. The weighted average assumptions used in determining the grant date fair value of these awards are set forth in Note 2, “Summary of Significant Accounting Policies,” in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2023.
Reflects cash incentive awards earned under the 2023 Corporate Annual Incentive Plan. For information regarding our 2023 Corporate Annual Incentive Plan, see the discussion in the “Compensation Discussion and Analysis” section above.
Mr. Herron was appointed Chief Operating Officer on March 21, 2023.
Amount reflects $9,900 in employer contributions to executive’s 401(k) plan.
Amount reflects $7,454 in employer contributions to Mr. Herron’s 401(k) plan and $9,600 in auto allowance payments.
42 Builders FirstSource, Inc.| 2024 Proxy Statement
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