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BXC > SEC Filings for BXC > Form 8-K on 11-Mar-2014All Recent SEC Filings

Show all filings for BLUELINX HOLDINGS INC.

Form 8-K for BLUELINX HOLDINGS INC.


11-Mar-2014

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 5, 2014, the Compensation Committee (the "Committee") of the BlueLinx Holdings Inc. (the "Company") Board of Directors approved the financial criteria used in establishing bonus and award grants for fiscal 2014 under the Company's short-term cash incentive plan (the "Short Term Incentive Plan") for certain of the Company's executive officers, including the Company's named executive officers.

Under the Company's Short-Term Incentive Plan, an annual bonus pool is established and funded based solely on performance as measured against established strategic, operational and/or financial goals at different levels of the Company's operating structure. In general, the bonus pool is allocated to each participant based on the participant's "target bonus percentage" (a percentage of such participant's current compensation) and the extent to which the Company and/or such participant's operating group(s) meets the established strategic, operational and/or financial goals. Each of the named executive officers is a participant in the Short-Term Incentive Plan, and each of their bonuses are subject to adjustment by the Committee, in its discretion, based on the officer's individual performance and contribution to the Company.

Each of the named executive officer's target bonus percentages for fiscal 2014 remain unchanged from the targets previously disclosed.

The Committee established corporate earnings before interest, tax, depreciation and amortization (EBITDA) and EBITDA as a percentage of working capitals, with the two criteria weighted equally, as the financial performance metrics for the Short Term Incentive Plan in fiscal 2014.

The foregoing summary of the Company's Short Term Incentive Plan is qualified in its entirety by reference to the full text of the Company's Amended and Restated Short-Term Incentive Plan, the form of which was filed as Attachment B to the Definitive Proxy Statement for the 2011 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on April 18, 2011.

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