What changed in this filing

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Item 1. Business

2025-02-20 compared with 2024-02-20 · 98 added, 152 removed, 277 unchanged (47% of the section changed)

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As used in this Form 10-K, the terms "Boise Cascade," "we," and "our" refer to Boise Cascade Company and its consolidated subsidiaries.

Our Purpose and Values

As a leading manufacturer and distributor of building materials, we bring people, products, and services together to build strong homes, businesses, and communities that stand the test of time.

Our Shared Values

At Boise Cascade, our values are not just words;

they are the behaviors that we expect of each other and help us all share in a bigger purpose.

We truly care about relationships with our teammates, customers, suppliers, shareholders, and the communities where we operate.

We approach the way we do business with these core values:

• Integrity - We are our word.

Integrity goes beyond the lasting structural strength of our products;

it is our uncompromising commitment to do the right thing.

We nurture long-term relationships every day, in everything that we do.

• Safety - We each have the responsibility for our own safety and the safety of those around us, both at work and at home.

Together, we strive to create an injury-free environment by identifying risks, eliminating hazards, and requiring safe behaviors.

• Respect - We cultivate a climate of mutual respect, camaraderie, and teamwork.

We welcome diverse backgrounds, views, and skills because we believe it results in stronger teams, inspired solutions, and greater agility as an organization.

• Pursuit of Excellence - We are committed to the continuous improvement of people, processes, and the quality of products that we deliver.

We apply best practices in our environmental management and forest stewardship.

We all have the autonomy to apply our knowledge and experience to solve problems, make decisions, and implement new ideas to drive sustainable results.

Segment Overview

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In our Wood Products segment, we manufacture laminated veneer lumber (LVL), I-joists, and laminated beams, which are collectively referred to as EWP.

In addition, we manufacture structural, appearance, and industrial plywood panels, and ponderosa pine lumber.

In addition, we manufacture structural, appearance, and industrial grade plywood panels, and ponderosa pine lumber.

Our Building Materials Distribution segment (BMD) is the largest customer of our Wood Products segment and operates a nationwide network of distribution facilities that sell a broad line of building materials, including oriented strand board (OSB), plywood, and lumber (collectively referred to as commodities);

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We expect to grow our EWP sales and thereby divert more of our internally produced veneer away from plywood, which is a product line exposed to oriented strand board substitution and significant price volatility.

In 2022, we acquired Coastal Plywood and its plywood manufacturing locations in Havana, Florida, and Chapman, Alabama, to provide avenues for further EWP growth.

Value-added EWP provides higher margins and pricing is not subject to the auction-based volatility of commodity markets.

To provide access to additional veneer for EWP production, we acquired Coastal Plywood and its plywood manufacturing locations in Havana, Florida, and Chapman, Alabama, in 2022.

Wood Products' sales mix by product line is illustrated below and demonstrates our principal focus on the production of veneer-based products.

In addition to the acquisition of Coastal Plywood in 2022, we have made, and intend to continue to make, investments in our mills in the Southeast U.S., allowing us to grow our EWP sales.

In BMD, our growth strategy includes adding products and services, expanding our market penetration via acquisition or the opening or expansion of locations in underserved markets, and identifying and executing upon adjacent distribution platforms that can be scaled.

Doors and millwork provide a recent example of product line expansion in BMD.

In 2023, we acquired Brockway-Smith Company (BROSCO), a wholesale distributor specializing in doors and millwork.

These facilities expanded our door and millwork business into the Northeast U.S.

markets and enhance BMD's general line product mix.

In the last three years, we have also expanded our door and millwork business with new locations in Dallas and Houston, Texas;

In 2024, we acquired assets of door and millwork facilities in Boise, Idaho and Lakeland, Florida.

Furthermore, in 2023, we acquired Brockway-Smith Company (BROSCO), a wholesale distributor specializing in doors and millwork.

In the last several years, we have also expanded our door and millwork business with new locations in Dallas and Houston, Texas;

Kansas City, Missouri;

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In addition to our investment in our door and millwork business, we continue to expand the capacity of our distribution centers.

In 2024, we made progress on greenfield distribution centers in Hondo, Texas, and Walterboro, South Carolina, which we expect to be complete in 2025 and 2026, respectively.

In 2023, we announced or completed capacity expansion projects in West Palm Beach, Florida;

Marion, Ohio;

and Medford, Oregon and we announced the relocation of our Lathrop, California BMD distribution center to Modesto, California.

We also made progress on greenfield distribution centers in Texas and South Carolina, which we expect will be complete in 2025 and 2026, respectively.

and Medford, Oregon and we announced the relocation of our Lathrop, California distribution center to Modesto, California.

In 2022, we completed capacity expansion projects in Minneapolis, Minnesota and Cincinnati, Ohio.

These organic growth projects allow us to further expand our product and service offerings in those markets.

The increase in our sales by segment over time from investing in our EWP growth strategy in Wood Products and expanding our BMD distribution capabilities is illustrated below.

Wood Products' sales mix by product line is illustrated below and demonstrates our principal focus on the production of veneer-based products.

Our ability to grow our EWP sales has historically been constrained by veneer supply.

The acquisition of Coastal Plywood in 2022, along with our investment in the facilities, provides incremental stress-rated veneer needed for EWP production.

We have made and intend to continue to make investments in our mills in the Southeast U.S., allowing us to grow our EWP sales.

BMD carries a broad line of building materials used in residential construction, repair and remodel, and industrial applications.

In BMD, we have grown by adding products and services, capturing additional market share in many of our existing markets, expanding our market presence via acquisition or start-up or expansion of locations, and by identifying and executing upon adjacent distribution platforms.

BMD continues to increase the proportion of its sales attributable to general line and EWP as those products carry a higher and more stable margin profile than commodities.

The chart below reflects BMD's sales mix by product for the year ended December 31, 2024.

In addition, BMD's growth in sales dollars and sales per U.S.

BMD's sales and sales per U.S.

housing start, as well as our focus on increasing sales attributable to general line and EWP, are reflected in the charts below.

Leverage our Integrated Model

In addition, BMD's sales in 2021 and 2022 were impacted by historically high composite panel and lumber prices.

Leverage the Integrated Model

We believe our integrated business model provides us with advantages over less integrated competitors and provides unique and significant value to our customers.

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In addition, Wood Products and BMD are collectively motivated to make the investments necessary to support our growth in the marketplace.

From 2019 to 2023, Wood Products' sales volumes of EWP to BMD increased slightly from 77% to 78%, and plywood sales volumes to BMD increased from 32% to 42%.

In 2024, approximately 75% of Wood Products' EWP sales volumes and approximately 50% of Wood Products' plywood sales volumes were to BMD.

The chart below reflects the progress we have made in distributing internally produced products through our distribution network.

Drive Operational Excellence

In Wood Products, we use process improvement and machine reliability methodologies to continuously refine and improve our operations and processes.

Leverage Technology

Like many companies, we continue to innovate with technology to search out revenue-generating, cost-reducing, and risk-mitigating opportunities.

We are also actively engaged in product development opportunities.

In Wood Products, these opportunities include the development of new products for commercial construction applications.

The commercial construction segment of the market is a particular area of focus for us, given we have limited penetration in that space today, and recent changes in building codes that allow for the use of mass timber in tall wood structures provide further opportunity.

Innovation efforts within our Wood Products segment are also focused on identifying process and cost efficiency improvement opportunities, some of which include automated packaging, asset monitoring applications for predictive maintenance, and the use of artificial intelligence to classify and identify opportunities in safety.

We use process improvement and machine reliability methodologies to continuously refine and improve our operations and processes.

We believe there are opportunities to further apply these process improvement programs in our manufacturing operations and apply similar techniques and methods to different functional areas to realize efficiencies in those areas.

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To assess the effectiveness and efficiency of our operations, we regularly capture and report on a wide variety of investment, operational, and customer service metrics.

Key learnings and best practices are then leveraged across our distribution locations.

Accelerate Pace of Innovation & Digital Technology, and Diversity, Equity & Inclusion

The Company is actively pursuing additional initiatives that we believe will provide further avenues for revenue and earnings growth:

Innovation & Digital Technology - Like many companies, we continue to innovate with technology to search out revenue-generating, cost-reducing, and risk-mitigating opportunities.

We are also actively engaged in product development opportunities.

In Wood Products, these opportunities include the development of new products for commercial construction applications.

The commercial construction segment is a particular area of focus for us, given we have limited penetration in that space today, and recent changes in building codes that allow for the use of mass timber in tall wood structures provide further opportunity.

maintenance, and the use of artificial intelligence to classify and identify opportunities in safety.

In BMD, our focus is to increase the quality of decision-making at all levels using data-driven digital technologies.

This includes leveraging business intelligence software to build mission-critical dashboards and reports for many areas of our business.

Our focus is to increase the quality of decision-making at all levels using data-driven digital technologies.

This includes leveraging business intelligence software to build dashboards and reports for many areas of our business.

We are also increasing the robustness of our data analytics methods used for forecasting, evaluating opportunities, and solving problems.

Our success with innovating digital technology and analytical methods is opening the door to more use cases for improving the way we do business.

We are also utilizing large, fast, and mastered datasets more than ever.

Key learnings and best practices are then leveraged across our distribution locations.

In addition, we are investing in robotics equipment and configuration technologies for our door and millwork business.

To support our innovation initiatives at Boise Cascade, we have added dedicated resources and are also leveraging tools to capture ideas from employees across our organization.

The journey is ongoing, and we expect to continue leveraging our investments to further develop value-generating opportunities at Boise Cascade to support our vendor and customer partners.

Diversity, Equity & Inclusion (DEI) - At Boise Cascade, we are pursuing excellence by embracing our differences.

We are committed to fostering an inclusive culture that values diversity and creates connection where everyone feels seen, heard, and valued.

We recognize both the compelling business case for DEI to drive business impact and the role this work plays in living our core values.

Consistent with our values, we are invested in our work to welcome diversity, build community, and grow our people and our business.

This work is led by our DEI Director and starts at the top with our board of directors and executive leadership team.

Our DEI Action Council is a group of business leaders working to operationalize our DEI strategy across our businesses, taking valuable input and thought leadership from the DEI Steering Committee.

All employees are welcome to participate in any of six Business Inclusion Groups, which provide a foundation for building communities of belonging while driving business impact.

Employees are also invited to participate in monthly DEI webinars and complete DEI learning curricula to be part of our journey and drive meaningful outcomes.

Segment Detail

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I-joists, which are used primarily in residential and commercial flooring and roofing systems and other structural applications, are stronger, lighter, and straighter than conventional lumber products.

We believe EWP has favorable characteristics when compared to competing products, as it reduces labor and

installed costs, provides cycle time advantages, and results in less material usage and waste.

Plywood is used in a wide range of structural, interior, and exterior applications within the residential, industrial, and repair and remodel sectors.

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Capacity is based on LVL production only.

(c) Approximately 20%, 25%, 29%, 27%, and 23%, respectively, of production in 2023, 2022, 2021, 2020, and 2019 was for PLV panels that are utilized internally to produce LVL.

(c) During the years presented above, approximately one-fourth of production was for PLV panels that are utilized internally to produce LVL.

(d) 2022 includes 505 million square feet of plywood capacity related to the two plywood manufacturing facilities in Chapman, Alabama, and Havana, Florida, that were purchased in July 2022.

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(a) Segment sales are calculated before elimination of sales to our BMD segment.

(b) The year ended December 31, 2023 includes $6.2 million of accelerated depreciation related to the indefinite curtailment of lumber production at our Chapman, Alabama facility.

(b) The years ended December 31, 2024 and 2023 include $2.2 million and $6.2 million, respectively, of accelerated depreciation related to the indefinite curtailment of lumber production at our Chapman, Alabama facility.

The year ended December 31, 2020 includes $15.0 million of accelerated depreciation and $1.7 million of other closure costs related to the Roxboro I-joist curtailment in March 2020.

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For the year ended December 31, 2024, wood fiber accounted for approximately 39% of materials, labor, and other operating expenses (excluding depreciation) in our Wood Products segment.

Our EWP facilities use parallel-laminated veneer panels and veneer sheets produced by our facilities, as well as lumber, OSB, and veneer sheets purchased from third parties, to manufacture LVL, I-joists, and laminated beams.

Our EWP facilities use PLV panels and veneer sheets produced by our facilities, as well as lumber, OSB, and veneer sheets purchased from third parties, to manufacture LVL, I-joists, and laminated beams.

Our EWP, plywood, and veneer facilities use Douglas fir, white woods, and pine logs as raw materials.

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We also bid in auctions conducted by federal, state, and local authorities for the purchase of logs, generally at fixed prices, under contracts with terms of generally one to three years.

Our log requirements and our access to supply, as well as the cost of obtaining logs, are subject to change based on, among other things, the availability of logs in each of our operating areas, our operating schedules, competition from other manufacturers, the effect of governmental laws and regulations, impacts of weather or fire on log availability, and the status of

environmental appeals.

Per-unit log costs in the western U.S.

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OSB accounted for approximately 6% of the aggregate amount of materials, labor, and other operating expenses (excluding depreciation) for our Wood Products segment in 2024.

OSB is a commodity, and prices have been historically volatile in response to industry capacity and operating rates, inventory levels in various distribution channels, and seasonal demand patterns.

OSB is a commodity, and prices have historically been volatile in response to industry capacity and operating rates, inventory levels in various distribution channels, and seasonal demand patterns.

Wood fiber also includes, to a lesser extent than OSB, lumber purchased from third parties for I-joist production at our Canadian EWP facility and for production at our laminated beam plant in Idaho.

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Our BMD segment is our Wood Products segment's largest customer, representing approximately 70% of our Wood Products segment's overall sales in 2024.

In 2023, 78% and 42% of our Wood Products segment's EWP and plywood sales volumes, respectively, were to our BMD segment.

In 2024, approximately 75% and 50% of our Wood Products segment's EWP and plywood sales volumes, respectively, were to our BMD segment.

Building Materials Distribution

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general line items such as siding, composite decking, doors and millwork, metal products, roofing, and insulation;

Except for EWP, we purchase most of these building materials from a broad base of third-party suppliers ranging from large manufacturers, such as Canfor, Commercial Metals Company, Hampton Lumber, Huber Engineered Woods, James Hardie Building Products, Louisiana-Pacific, Therma-Tru Doors, Trex Company and West Fraser, to small regional producers.

Except for EWP, we purchase most of these building materials from a broad base of third-party suppliers ranging from large manufacturers, such as Canfor, Commercial Metals Company, Hampton Lumber, Hoover Treated Wood Products, Huber Engineered Woods, James Hardie Building Products, JELD-WEN, Louisiana-Pacific, Steves & Sons, Therma-Tru Doors, Trex Company and West Fraser, to small regional producers.

Substantially all of our EWP is sourced from our Wood Products segment.

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Our broad geographic presence reduces our exposure to market factors in any single region.

In 2023, we acquired BROSCO, a wholesale distributor specializing in doors and millwork.

These facilities expanded our door and millwork business into the Northeast U.S.

markets and enhance BMD's general line product mix.

In 2024, we acquired assets of door and millwork facilities in Boise, Idaho and Lakeland, Florida.

Sales, Marketing, and Distribution

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We also market our products to a wide variety of industrial accounts, which use our products to assemble cabinets, doors, agricultural bins, crating, and other products used in industrial and construction applications.

We believe that our national presence and long-standing relationships with many of our key suppliers allow us to obtain favorable price and term arrangements and offer excellent customer service on leading brands in the building materials industry.

We believe that our national presence and long-standing relationships with many of our key suppliers allow us to obtain favorable price, terms, and supply arrangements on leading brands in the building materials industry.

We also believe our broad product line provides our customers with an efficient, one-stop resource for their building materials needs.

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We have a large, decentralized sales force to support our suppliers and customers.

Our sales force and product managers have local product knowledge and decision-making authority, which we believe enables them to optimize stocking,

pricing, and product assortment decisions.

Our sales force and product managers have local product knowledge and decision-making authority, which we believe enables them to optimize stocking, pricing, and product assortment decisions.

Our sales force has access to centralized information technology systems, an extensive vendor base, and corporate-level working capital support, which we believe complements our localized sales model.

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Broadening our product offering also helps us drive additional products through our distribution system, thereby increasing our scale and efficiency.

Our customer relationships range from locally owned single-location facilities to large national dealers and home improvement centers across the U.S., with Builders FirstSource and Home Depot being our largest customers.

Our customer relationships range from locally owned single-location facilities to large national dealers and home improvement centers across the U.S.

and Canada, with Builders FirstSource and Home Depot being our largest customers.

Substantially all sales to Builders FirstSource were recorded in our BMD segment, and sales to Home Depot were recorded in our BMD and Wood Products segments.

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Building Materials Distribution.

The building materials distribution markets in which we operate are highly fragmented, and we compete in each of our geographic and product markets with national, regional, and local distributors.

The building materials distribution markets in which we operate are fragmented, and we compete in each of our geographic and product markets with national, regional, and local distributors.

Our wholesale distribution competitors include BlueLinx Holdings Inc., Specialty Building Products Inc., Weyerhaeuser Company, Dixie Plywood and Lumber, OrePac, Woodgrain Inc., and Capital Lumber, among others.

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Proximity to customers is also an important factor in minimizing shipping costs and facilitating quick order turnaround and on-time delivery.

We believe our ability to obtain quality materials, from both internal and external sources, the scale and efficiency of our national footprint, and our focus on customer service are our primary competitive advantages in this segment.

Also, financial stability is important to suppliers and customers in choosing distributors and allows for more favorable terms on which we are able to obtain products from our suppliers and sell to our customers.

We believe our partnership with leading building materials suppliers, the scale and efficiency of our national footprint, and our focus on customer service are our primary competitive advantages in this segment.

Also, financial stability is important to suppliers and customers when choosing distributors.

Having a sound financial position is important to our suppliers and allows for favorable terms on which to procure products.

In addition, our financial condition is also important to customers who rely on us for timely delivery across a broad range of products that are consistently in stock.

We also present information pertaining to our segments, including product sales and customer concentration, in Note 15, Segment Information, of the Notes to Consolidated Financial Statements in "Item 8.

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Living our values means driving the expectation that each of our employees has ownership of safety and the authority to stop work if there is a safety concern.

In addition, selecting and developing talent is a vital aspect of our human capital strategy because we believe our employees are at the heart of our purpose and fulfillment of our promise to our stakeholders.

We focus on developing talent from within our businesses and supplement that talent with finding the right external hires to support key strategic objectives.

Individual development includes annual performance reviews with development plans, access to a variety of resources, including self-help resources, and continuing education opportunities.

Our employees are able to participate in training through a combination of online platforms and in-person learning.

We work towards business continuity and personal leadership growth by developing our employees as individuals through targeted leadership programs, coaching, and focused experiences.

Our Code of Ethics guides the actions and behaviors of anyone working for, representing, or partnering with Boise Cascade.

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We also provide a confidential CARE Line, which offers an additional way to report behavior or activity that may be unsafe, unethical, or illegal.

We are committed to providing comprehensive benefit programs.

We offer benefits that will help our employees and their families live healthier and more secure lives.

Our Total Rewards program provides competitive pay, comprehensive health benefits, 401(k) savings plans, well-being programs, community engagement opportunities, education aid, and career recognition and development.

Selecting and developing talent is a vital aspect of our human capital strategy because our employees are at the heart of our Purpose and delivering on our promises to our stakeholders.

We focus on developing talent from within our businesses and supplement with finding the right external hires to support our key strategic objectives of accelerating innovation, digital technology, and diversity, equity and inclusion.

We strive for excellence in business continuity and personal growth by developing our employees as individuals through targeted leadership programs, experiences, and assignments.

Individual development includes annual performance reviews with development plans, access to a variety of resources, and ongoing education opportunities.

In October 2022 we successfully launched a new integrated Human Capital Management (HCM) system.

The HCM system provides the capability to increase effectiveness and efficiency by improving automation of HR transactions and reporting, enhancing access for managers and HR, and adding capacity and scalability, including mobile access for employees, all within one platform.

The initial launch updated our Core HR, payroll, benefits, onboarding and recruiting processes.

In 2023, we launched our learning management system and updated our compensation process.

Additional modules planned for 2024 will enhance our performance management, self-service and document management processes.

Environmental

Boise Cascade recognizes that the weight of scientific evidence indicates a changing climate associated with increasing carbon dioxide in the atmosphere, and uses the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) for guidance in tracking and communicating our position and performance on climate-related matters.

In 2023, we began implementation of technology tools to collect material Scope 1 and Scope 2 greenhouse gas (GHG) emissions data, which will further enhance our ability to track and report on climate-related issues.

Boise Cascade recognizes that the weight of scientific evidence indicates a changing climate associated with increasing carbon dioxide in the atmosphere and uses the Task Force on Climate-Related Financial Disclosures (TCFD) framework for communicating our position and performance on climate-related matters.

We have implemented technology tools to collect material Scope 1 and Scope 2 greenhouse gas (GHG) emissions data, which further enhances our ability to track and report on climate-related issues.

This is an important step in understanding the emissions impact of our operations and allows for future enhancement of reporting metrics in the TCFD framework.

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Nate Jorgensen 60 Chief Executive Officer

Jeff Strom 57 Chief Operating Officer

Kelly Hibbs 58 Senior Vice President, Chief Financial Officer, and Treasurer

Mike Brown 62 Executive Vice President, Wood Products (retiring effective May 3, 2024)

Jeff Strom 56 Executive Vice President, Building Materials Distribution

Jill Twedt 44 Senior Vice President, General Counsel and Secretary

Joanna Barney 51 Executive Vice President, Building Materials Distribution

Troy Little 57 Executive Vice President, Wood Products

Jill Twedt 45 Senior Vice President, General Counsel and Corporate Secretary

Key Management:

Joanna Barney 50 Senior Vice President, Western Operations, Building Materials Distribution

Tom Hoffmann 65 Senior Vice President of Purchasing, Building Materials Distribution (retiring effective March 1, 2024)

Robert Johnson 60 Senior Vice President, Engineered Wood Products Sales and Marketing, Wood Products

Troy Little 56 Senior Vice President, Finance and Commodity Sales, Wood Products (Executive Vice President, Wood Products, effective February 19, 2024)

Erin Nuxoll 64 Senior Vice President, Human Resources (retiring effective May 3, 2024)

Chris Seymour 53 Senior Vice President, Manufacturing Operations, Wood Products

Jim Wickham 59 Senior Vice President, Eastern Operations, Building Materials Distribution

Angella Broesch 48 Vice President, Human Resources

Chris Forrey 49 Vice President, Finance and Investor Relations

Nathan Sikes 44 Vice President, Sales and Marketing, Building Materials Distribution

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Jorgensen received a bachelor's degree in Civil and Environmental Engineering from the University of Wisconsin and also attended the Tuck School of Business Executive Education Program, Dartmouth College, Hanover, NH.

Jeff Strom, Chief Operating Officer

Strom was appointed the company's chief operating officer in January 2025.

His previous positions with the company include:

• Executive Vice President, Building Materials Distribution, March 2021 - January 2025

• Vice President, General Manager Eastern Operations, Building Materials Distribution, January 2020 - March 2021

• General Manager, Eastern Region, Building Materials Distribution, May 2019 - January 2020

• Region Manager, Building Materials Distribution, November 2015 - May 2019

• Branch Manager, Building Materials Distribution, September 2008 - November 2015

Strom received a bachelor’s degree in Management from the Georgia Institute of Technology, Atlanta, GA.

Kelly Hibbs, Senior Vice President, Chief Financial Officer, and Treasurer

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He is a certified public accountant.

Mike Brown, Executive Vice President, Wood Products

Brown, our executive vice president, Wood Products, has elected to retire from the company effective May 3, 2024.

He was appointed to the position in January 2019.

His previous positions with the company include:

• Senior Vice President of Operations, Wood Products, November 2017 - January 2019

• Vice President of Operations, Wood Products, February 2016 - November 2017

• Manufacturing Operations Manager, Wood Products, November 2014 - February 2016

Brown received a bachelor's degree of science in Forestry from Australian National University in Canberra and a master's degree in Business Administration from Cranfield University, England.

Jeff Strom, Executive Vice President, Building Materials Distribution

Strom was appointed the company's executive vice president, Building Materials Distribution, in March 2021.

His previous positions with the company include:

• Vice President, General Manager Eastern Operations, Building Materials Distribution, January 2020 - March 2021

• General Manager, Eastern Region, Building Materials Distribution, May 2019 - January 2020

• Region Manager, Building Materials Distribution, November 2015 - May 2019

• Branch Manager, Building Materials Distribution, September 2008 - November 2015

Strom received a bachelor’s degree in Management from the Georgia Institute of Technology, Atlanta, GA.

Jill Twedt, Senior Vice President, General Counsel, and Secretary

Twedt was appointed the company's senior vice president, general counsel, and secretary in October 2020.

Her previous positions include:

• Vice President, General Counsel, and Secretary, January 2019 - October 2020

• Vice President, Legal and Secretary, August 2017 - January 2019

• Associate General Counsel, July 2007 - August 2017

Twedt received a bachelor's degree in Political Science from the College of Idaho, Caldwell, ID and a law degree from the University of Idaho, Moscow, ID.

Joanna Barney, Senior Vice President, Western Operations, Building Materials Distribution

Barney was appointed the company’s senior vice president of western operations, Building Materials Distribution, in October 2023.

Joanna Barney, Executive Vice President, Building Materials Distribution

Barney was appointed the company’s executive vice president, Building Materials Distribution, in February 2025.

Her previous positions with the company include:

• Senior Vice President, Western Operations, Building Materials Distribution, October 2023 - February 2025

• Vice President, Western Operations, Building Materials Distribution, May 2022 - October 2023

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Barney received a bachelor’s degree in Business Finance from the University of Utah, Salt Lake City, UT.

Tom Hoffmann, Senior Vice President of Purchasing, Buildings Materials Distribution

Hoffmann, our senior vice president of purchasing, Building Materials Distribution, has elected to retire from the company effective March 1, 2024.

He was appointed to the position in July 2021.

Troy Little, Executive Vice President, Wood Products

Little was appointed the company's executive vice president, Wood Products, in February 2024.

His previous positions with the company include:

• Vice President of Purchasing, Building Materials Distribution, May 2019 - July 2021

• Vice President of Operations, Building Materials Distribution, October 2016 - May 2019

• Division Operations Manager, Building Materials Distribution, September 2015 - October 2016

• Pacific Region Manager, Building Materials Distribution, November 2006 - September 2015

Hoffmann received a bachelor's degree in Business from the University of Idaho, Moscow, ID, with a dual major in marketing and management.

• Senior Vice President, Finance & Commodity Sales, Wood Products, October 2023 - February 2024

• Vice President, Finance & Commodity Sales, Wood Products, May 2022 - October 2023

• Director of Finance & Commodity Sales, Wood Products, May 2020 - May 2022

• Financial Manager, Wood Products, May 2018 - May 2020

• Division Controller, Wood Products, October 2016 - May 2018

Little received a bachelor’s degree in Business Administration from the College of Idaho, Caldwell, ID.

Jill Twedt, Senior Vice President, General Counsel, and Corporate Secretary

Twedt was appointed the company's senior vice president, general counsel, and corporate secretary in October 2020.

Her previous positions include:

• Vice President, General Counsel, and Corporate Secretary, January 2019 - October 2020

• Vice President, Legal and Corporate Secretary, August 2017 - January 2019

• Associate General Counsel, July 2007 - August 2017

Twedt received a bachelor's degree in Political Science from the College of Idaho, Caldwell, ID and a law degree from the University of Idaho, Moscow, ID.

Robert Johnson, Senior Vice President, Engineered Wood Products Sales & Marketing, Wood Products

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Johnson received a bachelor’s degree in Finance from the University of Oregon, Eugene, OR.

Troy Little, Senior Vice President, Finance and Commodity Sales, Wood Products

Little will become the company's executive vice president, Wood Products, effective February 19, 2024.

He is currently the company’s senior vice president of finance and commodity sales, Wood Products, to which position he was appointed in October 2023.

His previous positions with the company include:

• Vice President, Finance & Commodity Sales, Wood Products, May 2022 - October 2023

• Director of Finance & Commodity Sales, Wood Products, May 2020 - May 2022

• Financial Manager, Wood Products, May 2018 - May 2020

• Division Controller, Wood Products, October 2016 - May 2018

Little received a bachelor’s degree in Business Administration from the College of Idaho, Caldwell, ID.

Erin Nuxoll, Senior Vice President, Human Resources

Nuxoll, our senior vice president of human resources, has elected to retire from the company effective May 3, 2024.

She was appointed to the position in January 2019.

Her previous positions include:

• Vice President, Human Resources, Boise Cascade Company, August 2016 - January 2019

• Senior Vice President, Human Resources, J.R.

Simplot Company, a privately held food and agribusiness company, February 2010 - March 2016

• Vice President, Human Resources, J.R.

Simplot Company, March 2006 - February 2010

• Vice President, Human Resources, Boise Cascade, L.L.C., November 2004 - November 2005

Nuxoll received a bachelor's degree in Forest Management from Washington State University, Pullman, WA and a

master's degree in Organizational Leadership from Gonzaga University, Spokane, WA.

Chris Seymour, Senior Vice President, Manufacturing Operations, Wood Products

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Wickham received a bachelor’s degree in Business from Missouri State University, Springfield, MO.

Angella Broesch, Vice President, Human Resources

Broesch was appointed the company's vice president of human resources in February 2024.

Her previous positions with the company include:

• Senior Human Resources Director, July 2023 - February 2024

• Director of Total Rewards, November 2020 - July 2023

• Director of Internal Audit, October 2013 - November 2020

Broesch received a bachelor's degree in Accounting from the University of Idaho, Moscow, ID.

Chris Forrey, Vice President, Finance and Investor Relations

Forrey was appointed the company's vice president of finance and investor relations in May 2024.

His previous positions with the company include:

• Senior Director of Finance, March 2022 - May 2024

• Director of Tax, March 2015 - March 2022

Forrey received a bachelor's degree in Accounting and a master's degree in Taxation from Boise State University, Boise, ID.

He is a certified public accountant.

Nathan Sikes, Vice President, Sales and Marketing, Building Materials Distribution

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• Sales Manager, Building Materials Distribution, January 2014 - February 2019

Sikes received a bachelor’s degree in Business Administration from the University of Texas Arlington, Arlington, TX.

Sikes received a bachelor’s degree in Business Administration from the University of Texas at Arlington, Arlington, TX.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business