UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 1, 2023, The AZEK Company Inc. (the "Company") announced that, in connection with the sale of its Vycom business as described below, Jonathan Skelly has been appointed President, Residential and Commercial. Mr. Skelly has served as President of the Company’s Residential Segment since July 2022. Mr. Skelly joined the Company in 2018 and has also served as Senior Vice President, Customer Experience as well as Senior Vice President, Strategy & Execution. In connection with the Vycom sale and the expansion of his responsibilities, effective October 1, 2023, Mr. Skelly’s annual base salary was increased to $550,000 and his target annual cash incentive opportunity was increased to 75% of base salary. Scott Van Winter, previously President of the Company’s Commercial Segment, will continue to lead operations in Scranton, as President of Scranton Products.
There are no arrangements or understandings or material amendments to any arrangements or understandings between either of Mr. Skelly or Mr. Van Winter and any other person pursuant to which either Mr. Skelly or Mr. Van Winter was appointed to his new role, except as described above.
Item 7.01. Regulation FD Disclosure.
On November 1, 2023, the Company also announced the closing of the previously announced sale of its Vycom business, a division of its Commercial Segment, to Ohio-based Plaskolite, LLC. A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
The information in Item 7.01 of this report (including Exhibit 99.1) is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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 thereunto duly authorized.
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The AZEK Company Inc. |
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Date: November 1, 2023 |
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By: |
/s/ Morgan Walbridge |
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Morgan Walbridge |
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Senior Vice President, Chief Legal Officer and Secretary |