# EDGAR Filing Document

**Accession Number:** 0001069878
**File Stem:** 0001193125-25-226786
**Filing Date:** 2025-10
**Character Count:** 22763
**Document Hash:** 6dd36c33beaa24e5a09bc2281520d342
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-226786.hdr.sgml**: 20251001

**ACCESSION NUMBER**: 0001193125-25-226786

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251001

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251001

**DATE AS OF CHANGE**: 20251001

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TREX CO INC
- **CENTRAL INDEX KEY:** 0001069878
- **STANDARD INDUSTRIAL CLASSIFICATION:** LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 541910453
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14649
- **FILM NUMBER:** 251364811

**BUSINESS ADDRESS:**
- **STREET 1:** 2500 TREX WAY
- **CITY:** WINCHESTER
- **STATE:** VA
- **ZIP:** 22601
- **BUSINESS PHONE:** 5405426300

**MAIL ADDRESS:**
- **STREET 1:** 2500 TREX WAY
- **CITY:** WINCHESTER
- **STATE:** VA
- **ZIP:** 22601

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** October 01, 2025<br>

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Trex Company Inc

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Delaware | 001-14649 | 54-1910453 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 2500 Trex Way |  |  |
| Winchester**,** Virginia |  | 22601 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** 540 542-6300 <br>

**(Former Name or Former Address, if Changed Since Last Report)**

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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:

☐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:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock  | TREX | New York Stock Exchange LLC |

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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. ☐

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## Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
**Appointment of Prithvi S. Gandhi as Senior Vice President and Chief Financial Officer**

On September 30, 2025 the Board of Directors and the Compensation Committee of Trex Company, Inc. (the Company) appointed Prithvi S. Gandhi to serve as the Company's Senior Vice President and Chief Financial Officer effective October 6, 2025. Mr. Gandhi will also serve as the principal financial and principal accounting officer of the Company and will be a named executive officer for purposes of the Company's financial filings and public reporting. As the Senior Vice President and Chief Financial Officer, Mr. Gandhi will be responsible for overseeing all aspects of the finance and accounting functions of the Company.

Mr. Gandhi, age 55, served as Executive Vice President and CFO of Beacon Roofing Supply from April 2024 to June 2025. Prior to that, from August 2022 until April 2024, he served as Vice President and CFO of TAMKO Building Products, LLC, one of the largest independent U.S. manufacturers of residential roofing products, where he drove financial performance improvements and spearheaded the company's entry into sustainable products. From August 2021 to July 2022, Mr. Gandhi was Executive Vice President and Chief Financial Officer of Fast Radius, Inc.. Earlier in his career, Mr. Gandhi had a successful eight-year tenure from August 2013 until May 2021, with Owens Corning [NYSE: OC], where he held multiple senior finance roles, including as Interim CFO from 2019-2020. Mr. Gandhi received a Bachelor of Science degree in Mathematics and Economics from the University of California, a Master of Arts degree in International Economics from Georgetown University, and Master of Business Administration degree with a concentration in Finance and Accounting from the Wharton School of Business.

There are no family relationships existing between Mr. Gandhi and any director or executive officer of the Company. There have been no transactions, and no transactions are currently proposed, in which the Company was or is to be a participant and in which Mr. Gandhi or any member of his immediate family had or will have any interest, that are required to be disclosed by Item 404(a) of Regulation S-K. In addition, there are no arrangements or understandings between Mr. Gandhi and any other persons pursuant to which Mr. Gandhi was appointed to such position.

**Base Salary Compensation, Cash Incentive and Term Equity Incentives**

Mr. Gandhi will receive an annual base salary of $560,000, which will be prorated for 2025, and will be a participant in the Company's Annual Cash Incentive Compensation Program and Long-Term Equity Incentive Compensation Program, as further described in the Company's Proxy Statement filed March 24, 2025. Mr. Gandhi's target award under the Annual Cash Incentive Compensation Program will be 75% of his annual base salary, however, in the first quarter of 2026 contemporaneously with the payment of cash incentive to other employees, Mr. Gandhi's award shall be pro-rated for his actual eligible 2025 earnings. Additionally, Mr. Gandhi's target award under the Long-Term Equity Incentive Compensation Program will be 205% of his annual base salary. In addition, Mr. Gandhi will receive, on the second day after the Company issues its third quarter 2025 earnings release, an equity grant of time-based restricted stock units (RSUs) valued at $500,000, vesting as to one hundred percent (100%) of the total number of RSUs covered by this grant on October 6, 2028. In the event Mr. Gandhi voluntarily terminates his employment other than for Good Reason or his employment is terminated For Cause (as such defined terms are defined in the Company's 2023 Stock Incentive Plan Restricted Stock Unit Agreement Time-Based Vesting (the "RSU Agreement")) prior to October 6, 2028, then the unvested RSUs shall be forfeited.

For purpose of this RSU Agreement, "cause" and "good reason" are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•"Cause" includes Mr. Gandhi's: (1) willful or grossly negligent misconduct that is injurious to the Company or violates Company policy; (2) embezzlement or misappropriation of funds or property of the Company; (3) conviction of a felony or the entrance of a plea of guilty or nolo contendere to a felony; (4) conviction of any crime involving fraud, dishonesty, moral turpitude or breach of trust or the entrance of a plea of guilty or nolo contendere to such a crime; or (5) willful failure or refusal by Mr. Gandhi to devote his full business time (other than on account of disability or approved leave) and attention to the performance of his duties and responsibilities if such breach has not been cured within 15 days after written notice thereof is given to him by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•"Good Reason" includes: (1) a material and adverse change in Mr. Gandhi's status or position(s) as an officer of the Company; (2) a 10% or greater reduction in his aggregate base salary and targeted bonus, other than any such reduction proportionately consistent with a general reduction of pay across the executive staff as a group; (3) the failure by the Company to continue in effect any material employee benefit plan (excluding any equity compensation plan) in which he is participating other than as a result of the normal expiration of any such plan in accordance with its terms; (4) Company requiring him to be based at an office that is both more than 50 miles from where his office is located and further from his then current residence; or (5) a material breach by the Company of any agreement with him.

**Additional Compensation**

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Mr. Gandhi will receive a $200,000 cash signing bonus on the Company's first regular payroll after October 6, 2025, which shall be repayable to the Company if the Company terminates Mr. Gandhi's employment For Cause or Mr. Gandhi elects to resign without Good Reason (as such defined terms are disclosed below in the CIC Agreement section), within 3 years after October 6, 2025. Mr. Gandhi will also receive certain perquisites including but not limited to 401K contributions, a monthly company car allowance, and life insurance premiums.

**Change in Control Severance Agreement**

The Company and Mr. Gandhi will enter into the Company's standard Form of Change in Control Severance Agreement between Trex Company, Inc. and Officers other than the Chief Executive Officer (the CIC Agreement) on October 6, 2025. Under this CIC Agreement, if within the period beginning 90 days before and ending two years after a change in control of the Company (as defined in the CIC Agreement), Mr. Gandhi's employment is terminated by the Company (other than For Cause or by reason of death or disability) or if he terminates his employment for Good Reason, Mr. Gandhi will be entitled to receive severance benefits as detailed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a lump sum severance payment equal to 1.5 times the sum of (1) Mr. Gandhi's annual base salary (in effect immediately prior to the change in control or termination, whichever is greater), plus (2) the greater of (a) Mr. Gandhi's target annual cash incentive for the year immediately prior to the year in which the change in control occurs, (b) Mr. Gandhi's target annual cash incentive for the year of the termination of employment, or (c) Mr. Gandhi's actual annual cash incentive for the last fiscal year immediately prior to the year of the termination of employment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•continuation of group health and dental insurance, and group life insurance, on the same terms and conditions as though Mr. Gandhi had remained an active employee (or payment of the necessary amount to obtain equivalent coverage if Company coverage is not possible), for the shorter of 18 months or until coverage is obtained from a new employer.

For purpose of the CIC Agreement, "cause" and "good reason" are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•"Cause" includes Mr. Gandhi's willful or grossly negligent misconduct that is materially injurious to the Company, embezzlement or misappropriation of funds or property of the Company, conviction of a felony or any crime involving fraud, dishonesty, moral turpitude or breach of trust, or willful failure or refusal to devote full business time and attention to the performance of duties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•"Good reason" includes a material and adverse change in Mr. Gandhi's status or position with the Company, a 10% or greater reduction in his aggregate base salary and targeted annual incentive other than as part of general reduction in executive compensation, the failure by the Company or any successor to continue in effect any employee benefit plan in which she is participating other than as a result of normal expiration of such plan in accordance with its terms, or the relocation of his office more than 50 miles from the current office and further than his then-current residence.

To receive the payment and benefits under the CIC Agreement, Mr. Gandhi must, among other things, execute a customary release and comply with customary restrictive covenants set forth in his agreements with the Company.

**Severance Agreement**

In addition, the Company and Mr. Gandhi will enter into the Company's standard Form of Severance Agreement between Trex Company, Inc. and executive officers other than the Chief Executive Officer (the Severance Agreement) on October 6, 2025 providing for the payment of severance compensation and benefits to him if the Company terminates his employment without Cause or if he resigns for Good Reason. For this purpose, Cause and Good Reason are defined in the same manner as in the CIC Agreement discussed above. Upon such a termination, Mr. Gandhi will be entitled to receive the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a lump-sum cash payment equal to 1 times the sum of (1) Mr. Gandhi's base salary then in effect, plus (2) an amount equal to the greater of (a) Mr. Gandhi's targeted annual cash incentive for the year immediately prior to the year in which his employment terminates, or (b) Mr. Gandhi's actual annual cash incentive earned for the preceding year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•continued health and dental plan benefits on the same terms and conditions as though the covered executive had remained an active employee (or payment of the necessary amount to obtain equivalent coverage if Company coverage is not possible), for the shorter of 12 months or until equivalent coverage is obtained from a new employer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•accelerated vesting of all outstanding long-term equity incentive awards, including, but not limited to, stock options, stock appreciation rights, restricted stock, restricted stock units and performance shares (at the targeted payment level).

To receive the payment and benefits under the Severance Agreement, Mr. Gandhi must, among other things, execute a customary release and comply with customary restrictive covenants set forth in his agreements with the Company.

The foregoing description of Mr. Gandhi's CIC Agreement, Severance Agreement, and RSU Agreement with the Company is qualified in its entirety by reference to the Form of Change in Control Severance Agreement between Trex Company, Inc. and Officers other than the Chief Executive Officer filed as Exhibit 10.16 to the Company's Annual Report on Form 10-K for the year ending December 31, 2016 filed on February 21, 2017,the Form of Severance Agreement between Trex Company, Inc. and Officers

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other than the Chief Executive Officer, filed as Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ending on June 30, 2025 filed on August 4, 2025, and the form of RSU Agreement (other than the vesting provisions of the RSUs which are as described above) filed as Exhibit 10.4 to the Quarterly Report on Form 10-Q for the Quarter ending September 30, 2024 filed on October 28, 2024, respectively.

## Item 7.01 Regulation FD Disclosure.
On October 1, 2025, the Company issued a press release announcing the appointment of Mr. Gandhi as Senior Vice President and Chief Financial Officer. A copy of this press release is furnished as Exhibit 99.1 hereto.

The information provided pursuant to Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

## Item 9.01 Financial Statements and Exhibits.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Trex Company, Inc. herewith furnishes the following exhibits:

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description of Exhibit** |
| 99.1 | [<u>Press release dated October 1, 2025, announcing the appointment of Prithvi Gandhi as Senior Vice President and Chief Financial Officer.</u>](trex-ex99_1.htm) |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**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 hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | TREX COMPANY, INC. |
| Date: | October 1, 2025 | By:  | /s/ Bryan H. Fairbanks |
|  |  |  | Bryan H. Fairbanks<br>President and Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![img196323604_0.jpg](img196323604_0.jpg)

**Trex Company Names Prithvi S. Gandhi to Senior Vice President, Chief Financial Officer**

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![img196323604_1.jpg](img196323604_1.jpg)

*Mr. Prithvi S. Gandhi, Senior Vice President, Chief Financial Officer, Trex Company, Inc*

WINCHESTER, Va.--(BUSINESS WIRE)--October 1, 2025--Trex Company, Inc. [NYSE: TREX], the world's largest manufacturer of high-performance, low-maintenance composite decking and railing, today announced that it has named Prithvi (Prith) Gandhi as Senior Vice President, Chief Financial Officer effective October 6, 2025.

Mr. Gandhi brings over 25 years of financial leadership experience, having served in CFO, FP&A, strategy and corporate development roles across the building products, manufacturing, basic materials, and information technology sectors. Most recently, he was Executive Vice President and CFO of Beacon Roofing Supply, a leading North American distributor of residential and commercial roofing products. While at Beacon, he strengthened the company's focus on financial planning, business insights, investor relations and implementation of cost reduction actions. Prior to that, he served as Vice President and CFO of TAMKO Building Products, LLC, one of the largest independent U.S. manufacturers of residential roofing products, where he drove financial performance improvements and spearheaded the company's entry into sustainable products.

"We're very pleased to welcome Prith to Trex as our new Chief Financial Officer," said Bryan Fairbanks, President and Chief Executive Officer of Trex Company. "He brings extensive leadership experience in finance, corporate strategy and development in the Building Products sector. Prith has a proven track record of developing impactful financial strategies, which are critical to successfully navigating the complexities of today's Building Products landscape. His expertise will be invaluable as we continue to execute our long-term strategy, create sustainable value for our shareholders, and strengthen Trex's market leadership."

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Earlier in his career, Mr. Gandhi had a successful eight-year tenure at Owens Corning [NYSE: OC], where he held multiple senior finance roles, including as Interim CFO from 2019-2020.

"I am pleased to join the executive leadership team at Trex, universally recognized as a leader in the outdoor living space," said Prithvi Gandhi. "Trex's proven track record of innovation, operational excellence, and delivering value to its customers and shareholders is inspiring. I look forward to contributing to the Company's continued growth and success."

Prithvi Gandhi received a Bachelor of Science degree in Mathematics and Economics from the University of California, a Master of Arts degree in International Economics from Georgetown University, and Master of Business Administration degree with a concentration in Finance and Accounting from the Wharton School of Business.

**About Trex Company**

For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the company is the world's #1 brand of sustainably made, wood-alternative decking and residential railing, and a leader in high performance, low-maintenance outdoor living products. Boasting the industry's strongest distribution network, Trex sells products through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex<sup>®</sup> brand. Based in Winchester, Va., Trex is proud to have been named America's Most Trusted® Outdoor Decking\* 5 Years in a Row (2021-2025). The company also holds a place on Barron's list of the 100 Most Sustainable U.S. Companies (2024 and 2025), was named one of America's Most Responsible Companies 2024 by Newsweek, ranked as one of the 100 Best ESG Companies by Investor's Business Daily, and named the Sustainable Brand Leader in the decking category by Green Builder Media for the 15<sup>th</sup> consecutive year. For more information, visit Trex.com.

You may also follow Trex on Facebook (trexcompany), Instagram (trexcompany), X (Trex_Company), LinkedIn (trex-company), TikTok (trexcompany), Pinterest (trexcompany) and Houzz (trex-company-inc), or view product and demonstration videos on the brand's YouTube channel (TheTrexCo).

*<u>\*2021-2025 DISCLAIMER</u>: Trex received the highest numerical score in the proprietary Lifestory Research 2021-2025 America's Most Trusted*<sup>®</sup> *Outdoor Decking studies. Study results are based on the experiences and perceptions of people surveyed. Your experiences may vary. Visit* www.lifestoryresearch.com*.*

**Contacts:**

Lynn Morgen

Casey Kotary

ADVIS**IR**Y Partners

212-750-5800

lynn.morgen@advisiry.com

casey.kotary@advisiry.com

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