STOCK TITAN

Builders FirstSource sets incoming COO salary at $675K

Steve Herron is scheduled to advise the CEO through March 31, 2027, with specified vesting treatment for his outstanding restricted stock units.

(Neutral)

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Form Type
8-K/A

Rhea-AI Filing Summary

Builders FirstSource, Inc. approved compensation for Mike Hiller in connection with his appointment as chief operating officer. Hiller, the company’s chief talent officer, became chief operating officer-designate on May 18, 2026, and is scheduled to succeed Steve Herron as chief operating officer on December 31, 2026. Effective January 1, 2027, Hiller’s annual salary will be $675,000, with a target annual bonus of 125% of salary based on performance goals. He is also eligible to participate in the Long-Term Incentive Plan and will receive time-based restricted stock units with a grant value of $700,000 on October 18, 2026, vesting in equal annual installments on the first three grant anniversaries. Hiller is a Tier II Participant in the Executive and Key Employee Severance Plan. Herron will serve as special advisor to the CEO from January 1 through March 31, 2027, for $20,833.34 per month. As of completion of that service, his outstanding and unvested time-based restricted stock units will vest in full; his outstanding and unearned performance-based units will vest pro rata based on actual performance at the end of the applicable performance period.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Annual salary $675,000 per year Hiller's salary effective January 1, 2027
Target annual bonus 125% of annual salary Based on performance goals established from year to year
Restricted stock unit grant value $700,000 Hiller's time-based grant on October 18, 2026
Advisory fee $20,833.34 per month Herron's special advisor service from January 1 through March 31, 2027
Vesting schedule Equal annual installments on the first 3 anniversaries Hiller's time-based restricted stock units
time-based restricted stock units financial
"grant of time-based restricted stock units on October 18, 2026"
Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.
performance-based restricted stock units financial
"outstanding and unearned performance-based restricted stock units"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
pro rata basis financial
"vest on a pro rata basis based on actual performance"
A "pro rata basis" means dividing or distributing something proportionally according to each person's share or interest. For example, if a group shares costs or profits, each person receives or pays a portion that reflects their contribution or ownership percentage. This method ensures fairness by allocating resources in line with individual stakes, which is important for investors to understand how gains, losses, or costs are fairly shared.
Tier II Participant financial
"Mr. Hiller is a Tier II Participant in the Company’s Executive and Key Employee Severance Plan"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What compensation will BLDR's incoming COO Mike Hiller receive?

Mike Hiller’s annual salary will be $675,000 effective January 1, 2027, and his target annual bonus will equal 125% of annual salary, based on performance goals established from year to year. He will receive time-based restricted stock units with a grant value of $700,000 on October 18, 2026, vesting in equal annual installments on the first three grant anniversaries.

What will Steve Herron do after BLDR's COO transition?

Steve Herron will serve as special advisor, reporting directly to the CEO, from January 1 through March 31, 2027, and receive a $20,833.34 monthly advisory fee. As of completion of that service, his outstanding and unvested time-based restricted stock units will vest in full; his outstanding and unearned performance-based units will vest pro rata based on actual performance at the end of the applicable performance period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K/A

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 14, 2026

 

 

BUILDERS FIRSTSOURCE, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-40620

52-2084569

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

6031 Connection Drive

Suite 400

 

Irving, Texas

 

75039

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (214) 880-3500

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

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))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common stock, par value $0.01 per share

 

BLDR

 

New York Stock Exchange

NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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.

On May 18, 2026, Builders FirstSource, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) announcing, among other things, that its Board of Directors (the “Board”) appointed Mike Hiller, Chief Talent Officer of the Company, as Chief Operating Officer-Designate effective May 18, 2026, and that Mr. Hiller will succeed Steve Herron, as Chief Operating Officer effective December 31, 2026. In accordance with Instruction 2 to Item 5.02 of Form 8-K, the Company is filing this Amendment No. 1 to the Original Form 8-K (this “Amendment”) to disclose the compensation arrangement approved by the Compensation Committee of the Board for Mr. Hiller in connection with his appointment as Chief Operating Officer, which compensation arrangement had not been determined at the time of the filing of the Original Form 8-K.

 

On October 14, 2026, the Compensation Committee of the Board approved a new compensation arrangement for Mr. Hiller in connection with his appointment as Chief Operating Officer. Effective January 1, 2027, Mr. Hiller will receive a base salary of $675,000 per year, and will be eligible to earn an annual bonus with a target award equal to 125% of his annual salary, based on achievement of performance goals established from year to year by the Compensation Committee of the Board. In addition, Mr. Hiller is eligible to participate in the Company’s Long-Term Incentive Plan. He will also receive a grant of time-based restricted stock units on October 18, 2026, having a grant value equal to $700,000, and vesting in equal annual installments on the first three anniversaries of the grant date. Mr. Hiller is a Tier II Participant in the Company’s Executive and Key Employee Severance Plan.

 

 

In addition, the Compensation Committee approved the appointment of Mr. Herron as Special Advisor, reporting directly to the Company’s Chief Executive Officer, effective January 1, 2027 through March 31, 2027. In his role as Special Advisor, Mr. Herron will receive a monthly advisory fee of $20,833.34. Mr. Herron’s outstanding and unvested time-based restricted stock units will vest in full as of the completion of his service as Special Advisor, and his outstanding and unearned performance-based restricted stock units will vest on a pro rata basis based on actual performance at the end of the applicable performance period.

 


 

 


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.

 

 

 

BUILDERS FIRSTSOURCE, INC.

 

 

 

 

Date:

October 16, 2026

By:

/s/ Alena Brenner

 

 

 

Alena Brenner, Executive Vice President,
Chief Legal Officer and Corporate Secretary

 


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