false000006051900000605192025-04-022025-04-02
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): April 2, 2025
__________________________________
LOUISIANA-PACIFIC CORPORATION
(Exact name of registrant as specified in its charter)
__________________________________
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delaware |
|
1-7107 |
|
93-0609074 |
(State or other jurisdiction of incorporation or organization) |
|
Commission File Number |
|
(IRS Employer Identification No.) |
1610 West End Ave, Suite 200, Nashville, TN 37203
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (615) 986 - 5600
__________________________________
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 (see General Instruction A.2. below):
☐ 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 |
Name of each exchange on which registered |
| Common Stock, $1 par value |
LPX |
New York Stock Exchange |
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.
Appointment of Executive Officer
On April 2, 2025, the Board of Directors (the “Board”) of Louisiana-Pacific Corporation (“LP”) approved the appointment of Jason Ringblom, who currently serves as Executive Vice President, General Manager, Siding, to the newly created office of President, overseeing all manufacturing and commercial operations of LP, effective April 7, 2025. In connection with Mr. Ringblom’s promotion, effective April 7, 2025, LP will (a) increase Mr. Ringblom’s annual base salary to $800,000, (b) increase Mr. Ringblom's target award value under LP’s Annual Incentive Plan to 90% of his annual base salary, and (c) increase Mr. Ringblom’s long-term equity grants commensurate with his new position to an aggregate value of $2,700,000, by granting additional awards of restricted stock units (“RSUs”) and performance stock units (“PSUs”) under LP’s 2022 Omnibus Stock Award Plan, each with a value equal to $750,000, on the same terms described for the 2025 long-term equity grants to the named executive officers in LP’s definitive proxy statement filed on March 27, 2025. The number of additional RSUs and PSUs to be granted to Mr. Ringblom will be calculated based on the closing price of LP’s common stock on April 7, 2025, the grant date of such awards.
A copy of the press release announcing Mr. Ringblom’s new position is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Biographical information about Mr. Ringblom is included under the heading “Information About Our Executive Officers” in LP’s
Form 10-K for the year ended December 31, 2024 and is incorporated by reference herein.
Departure of Executive Officer
In connection with LP’s internal reorganization, LP will eliminate the position of Executive Vice President, General Manager, OSB, resulting in the termination of Jimmy Mason’s employment effective April 7, 2025. Mr. Mason will be entitled to receive severance payments payable in the event of a termination without cause under his severance agreement, the form of which was filed as Exhibit 10.10 to LP’s Form 10-K for the year ended December 31, 2024.
Retention Award
In connection with the internal reorganization, on April 2, 2025 the Compensation Committee of the Board approved a retention award to Alan J.M. Haughie, Executive Vice President, Chief Financial Officer of LP, of RSUs with a value equal to $2,250,000, effective April 7, 2025. The award was made under LP’s 2022 Omnibus Stock Award Plan, and the RSUs will vest in full on the third anniversary of the grant date, subject to Mr. Haughie’s continuous employment with LP through the vesting date. The number of RSUs awarded to Mr. Haughie will be calculated based on the closing price of LP’s common stock on April 7, 2025, the grant date.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
|
|
|
|
|
|
Exhibit
Number
|
Description |
| 99.1 |
|
| 104 |
Cover Page Interactive Data File (embedded within Inline XBRL document) |
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 hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
LOUISIANA-PACIFIC CORPORATION |
|
|
|
|
By: |
/S/ LESLIE E. DAVIS |
|
|
Leslie E. Davis |
|
|
Vice President, Controller and Chief Accounting Officer |
Date: April 3, 2025
EX-99.1
2
lpx432025pressrelease-ap.htm
EX-99.1
lpx432025pressrelease-ap
FOR IMMEDIATE RELEASE Media Contact: Breeanna Straessle 615.986.5886 media.relations@lpcorp.com Investor Contact: Aaron Howald 615.986.5792 Aaron.Howald@lpcorp.com LP Building Solutions Names Jason Ringblom President, Unifies Manufacturing and Sales to Accelerate Growth Strategic shift to streamline operations, enhance customer experience, and support long-term succession planning NASHVILLE, Tenn. (April 3, 2025) – LP Building Solutions (LP), a leading manufacturer of high-performance building products, today announced the appointment of Executive Vice President, General Manager of Siding Jason Ringblom to the newly created role of President, overseeing all manufacturing and commercial operations, effective April 7, 2025. This leadership transition is part of LP’s long-term succession planning, ensuring continuity of strong leadership and positioning the company for its next phase of growth. With this new structure, LP has eliminated the North American Business General Manager positions, and Ringblom will continue reporting to LP Chair & CEO Brad Southern. “On behalf of the Board of Directors, I am pleased to have Jason serve as President and look forward to working with him in this new role,” said Southern. “Having served as General Manager for both LP’s OSB and Siding businesses, I am confident that Jason is the ideal leader to help drive LP’s ongoing strategic transformation.” Since 2018, LP has pursued a successful strategy of growth, specialization, and value creation. Building on this foundation, it is now streamlining operations by integrating Siding and OSB manufacturing and consolidating all market- facing activities under a single leader, Ringblom. This new structure enhances efficiency, strengthens customer engagement, and accelerates long-term strategic execution. By integrating operations, LP will better leverage its product portfolio—optimizing Siding, Structural Solutions, and OSB as a cohesive offering to enhance its competitive advantage. This approach simplifies processes, making it easier for customers to do business with LP while improving service and responsiveness. The new structure also increases agility, enabling faster, more informed decision-making and optimized resource allocation. However, there are no immediate plans to change financial reporting segments. As President, Ringblom will lead this transition, defining the new structure, appointing leadership, and aligning processes to ensure a seamless integration. As part of these changes, LP General Manager of South America Frederick Price will now report to Ringblom. “I am honored to lead LP’s transition to a more unified structure and excited to work with all 4,300 LP team members as we advance LP’s strategic transformation,” said Ringblom.
With more than 20 years at LP, including eight years on the Executive Team, Ringblom brings extensive expertise in sales, marketing, and operations. Having progressed through key leadership roles at the company—including General Sales Manager, Vice President of OSB Sales & Marketing, Executive Vice President & General Manager of OSB, and most recently, Executive Vice President & General Manager of Siding—he is well-equipped to drive this transformation. His collaborative leadership style, strategic vision, and ability to drive results position LP for continued success. In addition to Ringblom’s appointment as President, LP has also appointed Craig Sichling to the newly created role of Senior Vice President, Chief Commercial Officer and named three new Vice Presidents, including Vice President of National Accounts Jeremy Sellers, Vice President of Field Sales Mitch Kingston, and Vice President of Supply Chain & Customer Experience Cody Austell. These changes are designed to strengthen LP’s commitment to serving customers, ensuring the company continues to deliver high-quality building products and innovative solutions to meet their evolving needs. About LP Building Solutions As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood products that meet the demands of builders, remodelers and homeowners worldwide. LP’s extensive portfolio of innovative and dependable products includes Siding Solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding and LP® Outdoor Building Solutions®), LP Structural Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub- Flooring, LP® FlameBlock® Fire-Rated Sheathing, LP NovaCore® Thermal Insulated Sheathing and LP® TopNotch® 350 Durable Sub-Flooring) and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better World™ by helping customers construct beautiful, durable homes while shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 22 manufacturing facilities across the U.S., Canada, Chile and Brazil. For more information, visit LPCorp.com. ###