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): January 13, 2020
UNIVERSAL FOREST PRODUCTS, INC.
(Exact Name of Registrant as Specified in Charter)
Michigan |
00-22684 |
38-1465835 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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2801 East Beltline, N.E. Grand Rapids, Michigan |
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49525 |
(Address of principal executive office) |
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(Zip Code) |
Registrant's telephone number, including area code: (616) 364-6161
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:
☐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)).
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 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 Certain Officers; Compensatory Arrangements of Certain Officers
Effective January 10, 2020, the Board of Directors of Universal Forest Products, Inc. (the “Company”) appointed Benjamin J. McLean to the Board of Directors of the Company. Since 2015, Mr. McLean has served as the Chief Executive Officer of Ruan Transportation Management Systems, Inc. (“Ruan”), a logistics company headquartered in Des Moines, Iowa. Prior to that time and since 2007, Mr. McLean held various executive positions at Ruan, including Senior Vice President & Chief Information Officer, and Chief Operating Officer.
In connection with the appointment of Mr. McLean to the Board of Directors, the Board increased the size of the Board from 8 members to 9 members. Mr. McLean has not yet been appointed to any committee of the Board of Directors.
Item 9.01.Financial Statements and Exhibits
SIGNATURE
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 thereunto duly authorized.
Dated: January 13, 2020 |
UNIVERSAL FOREST PRODUCTS, INC. |
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(Registrant) |
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By: |
/s/ Michael R. Cole |
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Michael R. Cole |
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Principal Financial Officer and Treasurer |
Universal Forest Products, Inc.
Page 1
Exhibit 99(1)
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News release
---------------AT THE COMPANY---------------
Dick Gauthier
VP of Business Outreach
(616) 365-1555
FOR IMMEDIATE RELEASE
January 13, 2020
Benjamin McLean appointed to UFPI Board of Directors
GRAND RAPIDS, Mich., January 13, 2020 – UFP Industries (Nasdaq: UFPI), formerly known as Universal Forest Products, today announced that Benjamin McLean, CEO of Des Moines, Iowa-based Ruan Transportation Management Systems, Inc., was appointed to its Board of Directors, effective January 10, 2020.
McLean joins the board with more than 20 years of wide-ranging business experience that includes transportation and logistics, as well as technology systems and strategy. McLean joined Ruan in 2007 and was named to his current role of CEO in 2015.
“We’re excited to draw upon Ben’s expertise in transportation, logistics and technology to help improve our extensive transportation operations,” said UFPI Chairman William G. Currie. “As the CEO of a large company, Ben also brings valuable experience in business and strategic planning to our board.”
McLean earned his B.S. in computer engineering, Juris Doctor, and M.B.A. from Northwestern University. He serves as a board member for a number of community and industry organizations, including the Iowa Business Council and American Transportation Research Institute.
Universal Forest Products, Inc. (n/k/a UFP Industries)
UFP Industries is a holding company whose subsidiaries supply wood, wood composite and other products to three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia. For more about UFP Industries, go to www.ufpi.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety
Universal Forest Products, Inc.
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regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.