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 1, 2019

 

 

UNIVERSAL FOREST PRODUCTS, INC.

(Exact Name of Registrant as Specified in Charter)

 

 

 

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 1, 2019, the Board of Directors of Universal Forest Products, Inc. (the “Company”) appointed Joan Budden to the Board of Directors of the Company. Since January 2016, Ms. Budden has served as the President and Chief Executive Officer of Priority Health, a health benefits company headquartered in Grand Rapids, Michigan. Prior to that time and since 2009, Ms. Budden served as the Chief Marketing Officer of Priority Health. Ms. Budden also serves as a director of Independent Bank Corporation of Grand Rapids, Michigan.

 

In connection with the appointment of Ms. Budden to the Board of Directors, the Board increased the size of the Board from 8 members to 9 members. Ms. Budden has not yet been appointed to any committee of the Board of Directors.

 

Item 9.01.Financial Statements and Exhibits

 

99.1A press release announcing appointment of Joan Budden to the Board of Directors of Universal Forest Products, Inc., issued by the Company on January 2, 2019.

 

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.

 

 

 

 

Exhibit 99(1)

 

News release

 

---------------AT THE COMPANY---------------

Dave Tutas

VP, Legal and General Counsel

(616) 365-1533

 

FOR IMMEDIATE RELEASE

Wednesday, January 2, 2019

 

 

 

Priority Health President Joan Budden appointed to UFPI Board of Directors

 

GRAND RAPIDS, Mich., January 2, 2019 -- Universal Forest Products, Inc. (Nasdaq: UFPI) today announced that Joan Budden, president of Grand Rapids, Mich.-based Priority Health, was appointed to its Board of Directors, effective January 1, 2019.

Budden joins the board with 30 years of health care experience. She joined Priority Health in 2009 as chief marketing officer and was named to her current role in 2016. Before joining Priority Health, she served in a number of leadership and executive management roles, including as a vice president at Blue Cross Blue Shield of Michigan.

“Joan brings with her a wealth of executive leadership experience and marketing skills. In addition, her expertise in health care, a major budget item for our Company, will be a benefit to our board and management team,” said UFPI Chairman William G. Currie. “We are pleased to have her join our board and look forward to the fresh perspective she will bring.”

Budden graduated with a B.S. in business administration from the University of Michigan and a master’s degree from Wayne State University. She serves as a board member for a number of community and business organizations.

 

UNIVERSAL FOREST PRODUCTS, INC.

Universal Forest Products, Inc. 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 Universal Forest Products, 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

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.

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