Patrick Industries (PATK) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for May 15, 2025, via virtual webcast, with voting on key proposals and board elections.

• 2024 marked by strategic acquisitions (Sportech and RecPro), debt refinancing, and focus on operational efficiency.

• Net sales for 2024 were $3.72B, with operating cash flows of $327M and a net sales CAGR of 11% from 2020-2024.

• Board and management emphasize a culture of innovation, customer value, and long-term growth.

Voting matters and shareholder proposals

• Shareholders will vote on: election of nine directors, ratification of Deloitte as auditor, advisory approval of executive compensation, increase in authorized common stock, and frequency of say-on-pay votes.

• Board recommends voting FOR all proposals and an annual say-on-pay vote.

• Shareholder proposals for the 2026 meeting must be submitted by December 2025.

Board of directors and corporate governance

• Board consists of nine members, with seven independent directors and 33% gender or racial/ethnic diversity.

• Board leadership includes a combined CEO/Chair and a Lead Independent Director.

• Committees: Audit, Compensation, and Corporate Governance/Nominations, all chaired by independent directors.

• Annual review of governance documents and succession planning; board-level ESG oversight.

• Directors are elected annually; average tenure is 11.9 years.