Builders FirstSource, Inc. disclosed a compensation package for Mike Hiller, its incoming Chief Operating Officer, in an amendment to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission. The filing, dated October 16, 2026, details the specific financial terms approved by the company's Compensation Committee for Hiller's transition into the role.
Hiller, currently serving as the company's Chief Talent Officer, was appointed Chief Operating Officer-Designate on May 18, 2026. He is scheduled to succeed Steve Herron as Chief Operating Officer effective December 31, 2026. The original announcement of this transition occurred in a Form 8-K filed on May 18, 2026, but the compensation details were not finalized at that time. This amendment provides the required disclosure of the agreed-upon terms.
Effective January 1, 2027, Hiller will receive an annual base salary of $675,000. The Compensation Committee also approved an annual bonus target equal to 125% of his base salary, contingent on the achievement of performance goals established annually by the committee. Hiller will remain eligible to participate in the company's Long-Term Incentive Plan. Additionally, he will receive a grant of time-based restricted stock units on October 18, 2026. This grant has a value of $700,000 and will vest in equal annual installments over the first three anniversaries of the grant date. Under the company's Executive and Key Employee Severance Plan, Hiller is classified as a Tier II Participant.
The filing also outlines the transition arrangements for outgoing Chief Operating Officer Steve Herron. The Compensation Committee approved Herron's appointment as Special Advisor to the Chief Executive Officer, effective from January 1, 2027, through March 31, 2027. In this advisory role, Herron will receive a monthly fee of $20,833.34.
Hiller's appointment follows his previous role as Chief Talent Officer at Builders FirstSource. The company is incorporated in Delaware and its common stock trades on both the New York Stock Exchange and NYSE Texas under the ticker symbol BLDR. The amendment was signed by Alena Brenner, Executive Vice President, Chief Legal Officer and Corporate Secretary.