8-K

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): February 3, 2023

UFP INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Michigan (State or other Jurisdiction of Incorporation) 0-22684 (Commission File Number) 38-1465835 (IRS Employer Identification No.)

2801 East Beltline, NE, Grand Rapids, Michigan (Address of Principal Executive Offices) 49525 (Zip Code)

Registrant's telephone number, including area code: (616) 364-6161

None

(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	UFPI	The NASDAQ Stock Market, LLC

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 8.01.   Other Events.

On February 3, 2023, UFP Industries, Inc., a Michigan corporation (the “Company”), issued a press release announcing that CEO Matthew J. Missad has been named Chairman of the Company’s Board of Directors as part of the Company’s comprehensive succession plan. The press release is attached to this Current Report as Exhibit 99.1 and is incorporated in this Item 8.01 by reference.

In addition, in connection with its succession plan, Thomas W. Rhodes, a current director of the Company, was appointed Lead Director, effective February 2, 2023.

Item 9.01.  Exhibits.

Exhibits

99.1	Press Release issued by UFP Industries, Inc. on February 3, 2023.
104	Cover Page Interactive File (the cover page XBRL tags are embedded in the Inline XBRL document).

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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 thereunto duly authorized.

Dated: February 6, 2023	UFP INDUSTRIES, INC.
	(Registrant)
	By:	/s/ Michael R. Cole
		Michael R. Cole
		Principal Financial Officer and Treasurer

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EX-99

Exhibit 99.1

News release 

---------------AT THE COMPANY---------------

Lynn Afendoulis

Director, Corporate Communications and Government Relations

(616) 365-1539, lafendoulis@ufpi.com

FOR IMMEDIATE RELEASE  
Friday, February 3, 2023

Matthew J. Missad named Chairman of the Board for UFP Industries
Current Chairman William G. Currie to retire at end of term

GRAND RAPIDS, MICHIGAN, Feb. 03, 2023 – UFP Industries, Inc. (Nasdaq: UFPI), today announced that CEO Matthew J. Missad also has been named chairman of the board. The move, approved by the board of directors at their February 2, 2023, meeting and effective immediately, is part of a comprehensive succession plan that calls for both change and continuity: Board Chairman William G. Currie will remain as a director through the end of his term. He then will step down after 54 years with the company. Missad will remain with the Company at least through 2027, as other elements of the succession plan are put in place.

“Bill Currie powered this company’s growth and direction for decades and made sure those of us who followed were ready to assume leadership roles,” Missad said. “That meant giving us training, challenges, and trust, and the autonomy to make decisions and accept responsibility for their consequences. Largely because of his leadership and mentorship, I was able to assume the CEO role 12 years ago, and I am honored to accept this new opportunity today.”

Added Currie: “No one is better able to shoulder this responsibility than Matt Missad. For 45 years, he has been dedicated to our excellence and success. As CEO, he quickly proved his ability to lead our operations and grow our business, and as chairman, he will continue to be the key driver of our strategic direction.”

Missad started with UFP Industries in 1978 (when it was The Universal Companies) as a high school student working part time on the maintenance crew and putting himself through college and law school. He joined the Company full time in 1985 as manager of legal compliance. Over the years, he held several successive positions, including executive vice president, general counsel, and secretary of the board. In 2011, he became the fifth CEO in the Company's 68-year-history.

—more—

UFP Industries, Inc.

UFP Industries is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction, and UFP Retail Solutions – manufacture, distribute, and sell a wide variety of value-added products used in residential and commercial construction, packaging, and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia, and Australia. UFP Industries is ranked #401 on the Fortune 500 and #149 on Industry Week’s list of America’s Largest Manufacturers. For more about UFP Industries, go to www.ufpi.com.

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XML

Document and Entity Information	Feb. 03, 2023
Document and Entity Information
Document Type	8-K
Document Period End Date	Feb. 03, 2023
Entity Registrant Name	UFP INDUSTRIES, INC.
Entity File Number	0-22684
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-1465835
Entity Address, Address Line One	2801 East Beltline, NE
Entity Address, City or Town	Grand Rapids
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49525
City Area Code	616
Local Phone Number	364-6161
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	UFPI
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000912767
Amendment Flag	false