Other Information
−Removed: First Certificate of Amendment to the Restated Certificate of Incorporation
−Removed: At the annual meeting of stockholders of Trex held on May 5, 2022, its stockholders approved an amendment of the Trex Restated Certificate of Incorporation (Amendment), effective as of May 5, 2022.
−Removed: The Trex Board of Directors unanimously approved the Amendment on February 23, 2022, subject to stockholder approval.
−Removed: The Amendment increases the number of shares of common stock, par value $.01 per share, that Trex is authorized to issue from 180 million shares to 360 million shares.
−Removed: The Amendment was filed with the Delaware Secretary of State on May 5, 2022.
−Removed: The foregoing description of certain terms and conditions in the Amendment is qualified in its entirety by reference to the full text of the Restated Certificate of Incorporation of Trex, which is filed as Exhibit 3.1 to this Form 10-Q
−Removed: and the First Amendment of the Restated Certificate of Incorporation of Trex, which is filed as Exhibit 3.2, both of which are incorporated herein by reference in their entirety.
−Removed: Trex Residential Earns Top Honors in Builder Brand Use Study.
−Removed: For the fourth time in the 15-year
−Removed: history of the Builder Brand Use Study, the Company earned top honors across all of the measured criteria for the Composite/PVC Decking category and outperformed all other brands in the Deck Railing category as well.
−Removed: The annual Builder Brand Use Study measures the attitudes of builders, developers, and contractors toward the products they recognize, use, and trust.
−Removed: The results of this year’s study are based on input from more than 850 building professionals who, for the 15th consecutive year, voted Trex #1 for “brand familiarity,” “brand used during the past two years,” and “brand used most” in the Composite/PVC Decking category.
−Removed: Trex also secured top honors for the same criteria in the Deck Railing category.
−Removed: Additionally, Trex received the highest score for “Product Quality” among the 27 composite and PVC decking brands included in the study.
+Added: Trex Company Named Among Top 50 U.S.
+Added: Manufacturers By Industry Week.
+Added: In July 2022, Trex was named by Industry Week
+Added: magazine as one of the 50 Best U.S.
+Added: Manufacturers.
+Added: In its first year of eligibility, Trex ranked #6 on the exclusive annual ranking of top-performing
+Added: manufacturing companies.
+Added: Companies ranked on IW’s “50 Best” list are pulled from the Industry Week U.S.
+Added: 500, an annual listing of the top 500 publicly held U.S.
+Added: manufacturing companies based on revenue.
+Added: The “50 Best” formula then examines profit margin, revenue growth and inventory over a three-year period, as well as return on assets and return on equity over a five-year timeframe, with the most recent numbers weighted most heavily.
See Exhibit Index at the end of the Quarterly Report on Form 10-Q
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TREX COMPANY, INC.
−Removed: August 8, 2022
+Added: October 31, 2022
/s/ Dennis C.
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Amended and Restated By-Laws of the Company.
−Removed: Credit Agreement dated as of May 18, 2022 between the Company, as borrower;
−Removed: Trex Commercial Products, Inc., as guarantor, Bank of America, N.A., as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer;
−Removed: Wells Fargo Bank, National Association, as lender and Syndication Agent, Regions Bank, PNC Bank, National Association, and TD Bank, N.A., arranged by BofA Securities, Inc.
−Removed: as Sole Lead Arranger and Sole Bookrunner.
−Removed: Note dated May 18, 2022 payable by the Company to Bank of America, N.A.
−Removed: in the amount of the lesser of $180,000,000 or the outstanding revolver advances made by Bank of America, N.
−Removed: Note dated May 18, 2022 payable by the Company to Wells Fargo Bank, National Association in the amount of the lesser of $120,000,000 or the outstanding revolver advances made by Wells Fargo Bank, N.A.
−Removed: Note dated May 18, 2022 payable by the Company to Regions Bank in the amount of the lesser of $40,000,000 or the outstanding revolver advances made by Regions Bank.
−Removed: Note dated May 18, 2022 payable by the Company to PNC Bank, National Association in the amount of the lesser of $30,000,000 or the outstanding revolver advances made by PNC Bank, National Association.
−Removed: Note dated May 18, 2022 payable by the Company to TD Bank, N.A.
−Removed: in the amount of the lesser of $30,000,000 or the outstanding revolver advances made by TD Bank, N.A.
−Removed: Security and Pledge Agreement dated as of May 18, 2022 between the Company, as debtor, Trex Commercial Products, Inc., as additional obligor;
−Removed: and Bank of America, N.A.
−Removed: as Administrative Agent (including Notices of Grant of Security Interest in Copyrights and Trademarks).
AIA document A141 – 2014 Agreement dated July 7, 2022 by and between Trex Company, Inc.
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Certifications of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C.
−Removed: Incorporated by reference
Inline XBRL Instance Document—the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
8 unchanged sentences
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.