Company: LPX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001104659-25-028584
Chunk: 15

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 15
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 — Directors and executive officers may be granted waivers of either Code only by a decision of the Board (or a Board committee to which this responsibility is delegated), which will be promptly disclosed to LP’s stockholders by posting on LP’s website at www.lpcorp.com. In 2024, there were no waiver requests. » LP’s CEO is responsible for maintaining a succession-planning process with respect to top management positions and must report to the Board at least annually regarding specific assessments and recommendations. The Governance Committee is responsible for managing the CEO selection and evaluation process used by the Board and reviewing management succession processes. » The Board has adopted stock ownership guidelines for both outside directors and executive officers. The guidelines specify target amounts of share ownership. Each outside director is expected to acquire and hold a number of shares equal in value to five times the regular annual cash retainer for outside directors within five years of joining the Board. For 2024, all of the directors met the guidelines. See the section below captioned “—Director Stock Ownership Guidelines.” The guidelines for executive officers are discussed under the heading “Compensation of Executive Officers—Compensation Discussion and Analysis—Section VI: Additional Policies and Guidelines Affecting Executive Compensation—Executive Stock Ownership Guidelines.” Current copies of LP’s Corporate Governance Guidelines, Code of Business Conduct and Ethics, and Code of Ethics for senior financial officers are available on LP’s website at https://investor.lpcorp.com by clicking on “Corporate Governance” and then “Governance Documents.” Any amendments to either Code will also be posted at www.lpcorp.com. Copies of any of these documents may also be obtained free of charge by writing to Corporate Affairs, Louisiana-Pacific Corporation, 1610 West End Avenue, Suite 200, Nashville, Tennessee 37203. THE BOARD LEADERSHIP STRUCTURE The members of the Board have a diverse set of skills and experiences and all of the members are independent except Mr. Southern, our CEO. As discussed above, Mr. Southern currently serves as both the CEO of LP and the Chairperson of the Board, and the independent directors of the Board have elected Mr. McCoy to serve as our Lead Independent Director. We believe that our current leadership structure is in the best interests of LP and its stockholders and that it fosters innovative, responsive and strong leadership for LP as a whole. Our Board has determined that the election of an executive Chairperson must be accompanied by the annual election of a Lead Independent Director by the independent directors with a clearly defined and dynamic leadership role in the