BlueLinx Holdings Inc. Announces Transition Agreement with General Counsel and Corporate Secretary

BlueLinx Holdings Inc. (NYSE: BXC) disclosed in an SEC filing on the 8th of November, 2024, that the company’s General Counsel and Corporate Secretary, Tricia A. Kinney, has entered into a Transition Agreement. As per this agreement, Ms. Kinney will conclude her employment with BlueLinx effective December 28, 2024, which coincides with the conclusion of the company’s 2024 fiscal year.

Under the terms of the Transition Agreement, BlueLinx will provide Ms. Kinney with a lump sum payment of $410,025, equal to her current annual base salary. Additionally, she will receive any bonuses due under the company’s Short-Term Incentive Plan for fiscal year 2024. Furthermore, the company agreed to ensure that the time-based restricted stock units granted to Ms. Kinney in fiscal years 2023 and 2024 will vest on the Separation Date.

These payments and benefits will be in lieu of any compensations, severances, or benefits detailed in the BlueLinx Holdings Inc. Executive Severance Plan. However, the execution and non-revocation of a customary general release of claims are prerequisites for the disbursement of payments and benefits to Ms. Kinney. The existing restrictive covenants applicable to her under the previous restrictive covenant agreements with the company will remain in effect.

It is worth noting that Ms. Kinney’s departure from BlueLinx is not attributed to any disputes with the company’s operations, policies, or practices.

The aforementioned details were presented in the 8-K SEC filing by BlueLinx Holdings Inc. on November 8, 2024. The full Transition Agreement between BlueLinx Corporation and Tricia A. Kinney, dated November 6, 2024, can be referred to in Exhibit 10.1 accompanying the filing. Additionally, the filing includes the Cover Page Interactive Data File embedded within the Inline XBRL document.

Investors and stakeholders are encouraged to seek further information in the SEC filing for comprehensive details on the Transition Agreement and related matters.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BlueLinx’s 8K filing here.

BlueLinx Company Profile

BlueLinx Holdings Inc, together with its subsidiaries, engages in the distribution of residential and commercial building products in the United States. It distributes specialty products, including engineered wood, siding, millwork, outdoor living, specialty lumber and panels, and industrial products; and structural products, such as lumber, plywood, oriented strand boards, rebars and remesh, as well as other wood products that are used for structural support in construction projects.