Form 8-K - Current report

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): November 1, 2023

The AZEK Company Inc.

(Exact name of Registrant as Specified in Its Charter)


Delaware	001-39322	90-1017663
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1330 W Fulton Street 350 Chicago, Illinois		60607
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (877) 275-2935

Not Applicable

(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 (see General Instructions 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(s)

Name of each exchange on which registered

Class A Common Stock, par value $0.001 per share

AZEK

The 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.

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


Exhibit Number		Description
99.1		Press release dated November 1, 2023
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.


	The AZEK Company Inc.

Date: November 1, 2023	By:	/s/ Morgan Walbridge
		Morgan Walbridge
		Senior Vice President, Chief Legal Officer and Secretary

Exhibit 99.1

The AZEK® Company Completes Sale of Commercial Segment’s Vycom Business to Plaskolite, Announces Leadership Updates for Residential and Commercial Businesses

CHICAGO—November 1, 2023 (BUSINESS WIRE)-- The AZEK Company Inc. (NYSE: AZEK) ("AZEK" or the “Company”), the industry-leading manufacturer of beautiful, low-maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK® Trim, and StruXure™ pergolas, today completed the previously announced divestiture of its Vycom business, a division of its Commercial segment, to Ohio-based Plaskolite, LLC, a global leader in the manufacturing of engineering thermoplastics.

Additional information regarding the transaction is accessible via the Events & Presentations section of the Company’s website: https://investors.azekco.com/events-and-presentations/ and the transaction will be discussed during AZEK’s fiscal fourth quarter and full-year earnings call on November 28, 2023.

In connection with the sale of Vycom, AZEK also announced that Jonathan Skelly has been appointed President, Residential and Commercial. In this expanded role, Mr. Skelly assumes responsibility for AZEK’s Commercial business and will continue to lead the Residential organization.

“Since joining AZEK in 2018, Jon has demonstrated a strong track record of success in both developing and delivering against our short- and long-term strategic objectives. His invaluable leadership within the organization has positioned us to win and gain share in our core markets,” said AZEK CEO Jesse Singh.

Mr. Skelly has over 20 years of strategy, mergers and acquisitions, sales, customer service and business development experience. Prior to joining AZEK in 2018, Mr. Skelly served as Vice President of Corporate Development for W.W. Grainger, Inc., an industrial supply company. Mr. Skelly has also held a variety of leadership positions at The Home Depot Inc. and Hughes Supply, Inc.

AZEK also announced that Scott Van Winter will continue leading operations in Scranton, as President of Scranton Products. “Scott has played an instrumental role in expertly navigating the divestiture of the Vycom business. His demonstrated leadership, adaptability and deep understanding of the industry continues to make a positive impact across the organization,” continued Singh.

With more than 30 years of experience in the performance polymers industry, Mr. Van Winter most recently served as AZEK’s President, Commercial. He previously served as Chief Executive Officer and Executive Vice President at Jindal Films Americas, LLC, a leader in the development and manufacture of specialty films. Prior to joining Jindal Films America, Mr. Van Winter held various leadership positions at Toray Plastics (America), Inc. and Alcoa KAMA Co.

About The AZEK® Company

The AZEK Company Inc. (NYSE: AZEK) is the industry-leading designer and manufacturer of beautiful, low maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK Trim® and StruXure™ pergolas. Consistently recognized as a market leader in innovation, quality and aesthetics, products across AZEK’s portfolio are made from up to approximately 90% recycled material and primarily replace wood on the outside of homes, providing a long-lasting,

Exhibit 99.1

eco-friendly and stylish solution to consumers. Leveraging the talents of its approximately 2,000 employees and the strength of relationships across its value chain, The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of its innovative products, keeping millions of pounds of waste out of landfills each year, and revolutionizing the industry to create a more sustainable future. The AZEK Company has recently been named one of America’s Climate Leaders by USA Today, a Top Workplace by the Chicago Tribune and a winner of the 2023 Real Leaders® Impact Awards. Headquartered in Chicago, Illinois, the company operates manufacturing and recycling facilities in Ohio, Pennsylvania, Idaho, Georgia, Nevada, New Jersey, Michigan and Minnesota. For additional information, please visit azekco.com.

AZEK Investor Relations Contact:

Eric Robinson

312-809-1093

ir@azekco.com

AZEK Media Contact:

Amanda Cimaglia

312-809-1093

media@azekco.com

Source: The AZEK Company Inc.

Document and Entity Information	Nov. 01, 2023
Cover [Abstract]
Entity Registrant Name	AZEK Co Inc.
Amendment Flag	false
Entity Central Index Key	0001782754
Document Type	8-K
Document Period End Date	Nov. 01, 2023
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39322
Entity Tax Identification Number	90-1017663
Entity Address, Address Line One	1330 W Fulton Street 350
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60607
City Area Code	(877)
Local Phone Number	275-2935
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A Common Stock, par value $0.001 per share
Trading Symbol	AZEK
Security Exchange Name	NYSE
Entity Emerging Growth Company	false