Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-18

Installed Building Products (IBP)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$7,096,835
Jeffrey Edwards total, FY2025
40th
CEO pay percentile vs peers
106:1
CEO-to-median pay ratio
97.3%
Say-on-pay support, latest vote
Companies that benchmark against IBP
5 companies name IBP as a compensation peer

Each company listed discloses IBP in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named IBP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Jeffrey Edwards$900,000$0$4,950,132$0$1,209,000$0$37,703$7,096,835
President, Chief Executive Officer and Chairman
Michael Miller475,00002,010,1290441,750028,4562,955,335
Executive Vice President and Chief Financial Officer
Brad Wheeler485,00001,750,0540418,50003,8752,657,429
Chief Operating Officer
Jason Niswonger465,00001,225,1140269,700024,2081,984,022
Chief Administrative and Sustainability Officer
Jeffrey Hire450,0000325,0520209,250027,5781,011,880
President, External Affairs

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Jeffrey Edwards$7,096,835$6,174,107$5,932,174+922,728
Michael Miller2,955,3352,193,7302,157,435+761,605
Brad Wheeler2,657,4291,910,361+747,068
Jason Niswonger1,984,0221,257,1471,161,959+726,875
Jeffrey Hire1,011,880965,255926,147+46,625

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jeffrey EdwardsPSU2025-02-25150,000150,000$150,000
Jeffrey EdwardsPSU2025-02-25500,000500,000500,000
Jeffrey EdwardsPSU2025-02-2512,57425,14850,2964,300,057
Jeffrey HirePSU2025-02-259511,9013,802325,052
Michael MillerPSU2025-02-25150,000150,000150,000
Michael MillerPSU2025-02-253,9777,95415,9081,360,054
Michael MillerPSU2025-02-25500,000500,000500,000
Jason NiswongerPSU2025-02-25150,000150,000150,000
Jason NiswongerPSU2025-02-25500,000500,000500,000
Jason NiswongerRSU2025-02-2558499,858
Jason NiswongerPSU2025-02-251,6823,3636,726575,039
Brad WheelerPSU2025-02-253,2176,43312,8661,099,979
Brad WheelerPSU2025-02-25150,000150,000150,000
Brad WheelerPSU2025-02-25500,000500,000500,000
Brad WheelerRSU2025-02-2558499,858
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jeffrey Edwards$0$4,950,057$0100.0%
Jeffrey Hire0325,0520100.0%
Michael Miller02,010,0540100.0%
Jason Niswonger99,8581,225,039092.5%
Brad Wheeler99,8581,749,979094.6%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Jeffrey EdwardsRSU23,388$6,066,613
Jeffrey EdwardsRSU18,6364,833,992
Jeffrey EdwardsPSU17,4814,534,397
Michael MillerRSU7,3971,918,708
Brad WheelerRSU5,9831,551,930
Michael MillerRSU5,8241,510,687
Michael MillerPSU5,6321,460,884
Jeffrey HireRSU5,3751,394,221
Brad WheelerPSU4,6591,208,498
Jason NiswongerRSU3,128811,372
Jason NiswongerRSU2,329604,119
Jason NiswongerPSU1,990516,186
Jeffrey HireRSU1,768458,602
Jeffrey HireRSU1,281332,279
Jeffrey HirePSU1,213314,640
Brad WheelerRSU584151,484
Jason NiswongerRSU584151,484
Jeffrey EdwardsRSU469121,654
Michael MillerRSU469121,654
Brad WheelerRSU469121,654
Jason NiswongerRSU469121,654
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation philosophy is to provide a competitive compensation package weighted toward Company performance and aligned with stockholders' long-term interests. The program is designed to attract, motivate, and retain exceptional executives by tying a significant amount of compensation to the achievement of performance metrics related to business strategy and financial performance, as well as the price of the Company's stock.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-1921,846,454595,09211,82697.3%Passed
20252025-05-2022,919,360552,5646,88597.62%Passed
20242024-05-2324,245,381785,06740,40096.71%Passed
20232023-05-2524,722,2561,153,17452,96495.35%Passed
20222022-05-2625,697,875727,506494,11695.46%Passed
20212021-05-2727,020,295200,32122,23199.18%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-1997.3%a
20252025-05-2097.62%b
20242024-05-2396.71%c

a. Approved under the standard stated in the filing — “Abstentions will have the same effect as votes "AGAINST" this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions will have the same effect as votes "AGAINST" this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions will have the same effect as votes "AGAINST" this proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)106 : 1
CEO total compensation
Median employee compensation$62,164
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Margot L. CarterIndependent · Audit · Nominating and Corporate Governance (Chair)$125,000$125,000$0$250,000
Lawrence A. HilsheimerIndependent · Audit (Chair) · Nominating and Corporate Governance112,500125,0000237,500
Janet E. JacksonIndependent · Compensation and Human Capital (Chair) · Nominating and Corporate Governance110,000125,0000235,000
Marchelle E. MooreIndependent · Compensation and Human Capital · Nominating and Corporate Governance102,500125,0000227,500
David R. MeuseIndependent · Compensation and Human Capital95,000125,0000220,000
Michael H. ThomasIndependent · Audit90,700125,0000215,700
Robert H. SchottensteinIndependent85,000125,0000210,000
Michael T. MillerNot independent · Newly elected
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$125,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 7,500 / 15,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$720,700
Equity awards (grant-date value)$875,000
All other compensation$0
Total cost of the board$1,595,700

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Installed Building Products names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Installed Building Products.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Eagle Materials Inc2026Michael Haack$1,119,456$5,457,270$1,657,834$1,948,987$10,302,728
2M/I Homes, Inc.2025Robert Schottenstein1,100,0004,945,34303,506,2509,914,773
3Tri Pointe Homes, Inc.2025Douglas Bauer1,000,0005,999,98101,635,0008,677,081
4Century Communities, Inc.2025Robert J. Francescon1,000,0004,622,11902,784,0038,510,773
5Meritage Homes Corporation2025Phillippe Lord1,000,0005,697,08501,352,0008,114,286
6Cavco Industries, Inc.2026Bill Boor1,100,0004,729,90702,120,9157,958,712
7Simpson Manufacturing Co., Inc.2025Michael Olosky950,0005,383,38401,389,7137,768,355
8Installed Building Products2025Jeffrey Edwards900,0004,950,13201,209,0007,096,835
9Apogee Enterprises, Inc.2026Ty Silberhorn627,3082,283,41901,208,5006,075,286
10Champion Homes Inc2026Tim Larson671,8753,712,15301,088,4345,485,676
11LGI Homes, Inc.2025Eric Lipar975,0004,143,842005,182,051
12Gibraltar Industries, Inc.2025William Bosway908,2693,202,4400274,5004,731,001
TopBuild Corp.not in coverage universe
Griffon Corporationnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Installed Building Productsnot disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Apogee Enterprises, Inc.not disclosedRSU 50 · PSU 50NoMeridian Compensation Partners, LLC (current); Willis Towers Watson (through September 2025)
Cavco Industries, Inc.not disclosedPSU 60 · RSU 40NoPearl Meyer Partners, LLC
Century Communities, Inc.94%PSU 100NoWealthPoint
Champion Homes Inc116.8%PSU 50 · RSU 50Yes — Relative Total Shareholder Return (rTSR)Willis Towers Watson
Eagle Materials Incnot disclosedOptions 50 · PSU 25 · RSU 25Yes — Average Absolute Total Stockholder Return (Avg. A-TSR)Meridian Compensation Partners
Gibraltar Industries, Inc.25%PSU 64 · RSU 36NoWTW
Griffon Corporationnot disclosednot disclosednot disclosednot disclosed
LGI Homes, Inc.not disclosedPSU 80 · RSU 20NoMeridian Compensation Partners LLC
M/I Homes, Inc.94%not disclosedNoWillis Towers Watson (WTW)
Meritage Homes Corporation41.6%PSU 50 · RSU 50NoPearl Meyer
Simpson Manufacturing Co., Inc.not disclosednot disclosednot disclosednot disclosed
TopBuild Corp.not disclosednot disclosednot disclosednot disclosed
Tri Pointe Homes, Inc.65.4%PSU 60 · RSU 40NoExequity

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Jeffrey EdwardsDEF 14A2026-04-080001580905-26-000022Section “Summary Compensation Table” · page 73. As printed: 7,096,835. Filing ↗machine: r3 · c36 · span 1222902–1222911
2Section 01, Michael MillerDEF 14A2026-04-080001580905-26-000022Section “Summary Compensation Table” · page 73. As printed: 2,955,335. Filing ↗machine: r7 · c36 · span 1228935–1228944
3Section 01, Brad WheelerDEF 14A2026-04-080001580905-26-000022Section “Summary Compensation Table” · page 73. As printed: 2,657,429. Filing ↗machine: r11 · c36 · span 1234966–1234975
4Section 01, Jason NiswongerDEF 14A2026-04-080001580905-26-000022Section “Summary Compensation Table” · page 73. As printed: 1,984,022. Filing ↗machine: r19 · c36 · span 1245946–1245955
5Section 01, Jeffrey HireDEF 14A2026-04-080001580905-26-000022Section “Summary Compensation Table” · page 73. As printed: 1,011,880. Filing ↗machine: r15 · c36 · span 1239944–1239953
6Section 03, Jeffrey Edwards PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
7Section 03, Jeffrey Edwards PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
8Section 03, Jeffrey Edwards PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1283240–1283249
9Section 03, Jeffrey Hire PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1303151–1303158
10Section 03, Michael Miller PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
11Section 03, Michael Miller PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1289504–1289513
12Section 03, Michael Miller PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
13Section 03, Jason Niswonger PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
14Section 03, Jason Niswonger PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
15Section 03, Jason Niswonger RSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1307906–1307912
16Section 03, Jason Niswonger PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1306779–1306786
17Section 03, Brad Wheeler PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1295766–1295775
18Section 03, Brad Wheeler PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
19Section 03, Brad Wheeler PSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗
20Section 03, Brad Wheeler RSUDEF 14A2026-04-080001580905-26-000022Section “Grants of Plan-Based Awards for 202” · grants of plan-based awards table. Filing ↗machine: span 1296895–1296901
21Section 07, pay ratioDEF 14A2026-04-080001580905-26-000022Section “CEO Pay Ratio”. As printed: 106 : 1. Filing ↗
22Section 08, Margot L. CarterDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 250,000. Filing ↗
23Section 08, Lawrence A. HilsheimerDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 237,500. Filing ↗machine: span 536428–536435
24Section 08, Janet E. JacksonDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 235,000. Filing ↗machine: span 538315–538322
25Section 08, Marchelle E. MooreDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 227,500. Filing ↗machine: span 542088–542095
26Section 08, David R. MeuseDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 220,000. Filing ↗machine: span 540199–540206
27Section 08, Michael H. ThomasDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 215,700. Filing ↗machine: span 546174–546181
28Section 08, Robert H. SchottensteinDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: 210,000. Filing ↗machine: span 543981–543988
29Section 08, Michael T. MillerDEF 14A2026-04-080001580905-26-000022Section “Director Compensation”. As printed: —. Filing ↗
30Section 06, 2026 voteForm 8-K2026-05-200001628280-26-036921Item 5.07 · say-on-pay result. As reported: 97.3% (votes for as printed: 21,846,454). Filing ↗
31Section 06, 2025 voteForm 8-K2025-05-210001580905-25-000020Item 5.07 · say-on-pay result. As reported: 97.62% (votes for as printed: 22,919,360). Filing ↗
32Section 06, 2024 voteForm 8-K2024-05-240001580905-24-000023Item 5.07 · say-on-pay result. As reported: 96.71% (votes for as printed: 24,245,381). Filing ↗
33Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
34Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
35Section 09b board cost (computed)ComputedcomputedCash 720,700 + equity 875,000 + all other 0 = 1,595,700, summed across the director compensation table rows.machine: formula: Σ = 1,595,700
36Eagle Materials Inc, Section 10b CEO totalDEF 14A2026-06-150001193125-26-271073CEO total compensation as printed in Eagle Materials Inc's own proxy. As printed: 10,302,728. Filing ↗machine: t143 · r4 · c26 · span 1818301–1818311
37M/I Homes, Inc., Section 10b CEO totalDEF 14A2026-04-100001193125-26-150356CEO total compensation as printed in M/I Homes, Inc.'s own proxy. As printed: 9,914,773. Filing ↗machine: t145 · r2 · c31 · span 415984–415993
38Tri Pointe Homes, Inc., Section 10b CEO totalDEF 14A2026-03-060001561680-26-000013CEO total compensation as printed in Tri Pointe Homes, Inc.'s own proxy. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
39Century Communities, Inc., Section 10b CEO totalDEF 14A2026-03-250001140361-26-011011CEO total compensation as printed in Century Communities, Inc.'s own proxy. As printed: 8,510,773. Filing ↗machine: t194 · r4 · c14 · span 1089521–1089530
40Meritage Homes Corporation, Section 10b CEO totalDEF 14A2026-04-070000833079-26-000098CEO total compensation as printed in Meritage Homes Corporation's own proxy. As printed: 8,114,286. Filing ↗machine: t119 · r2 · c19 · span 828485–828494
41Cavco Industries, Inc., Section 10b CEO totalDEF 14A2026-06-160001628280-26-043437CEO total compensation as printed in Cavco Industries, Inc.'s own proxy. As printed: 7,958,712. Filing ↗machine: r2 · c18 · span 638872–638881
42Simpson Manufacturing Co., Inc., Section 10b CEO totalDEF 14A2026-03-240001628280-26-020810CEO total compensation as printed in Simpson Manufacturing Co., Inc.'s own proxy. As printed: 7,768,355. Filing ↗machine: r2 · c21 · span 924542–924551
43Installed Building Products (subject), Section 10b CEO totalDEF 14A2026-04-080001580905-26-000022CEO total compensation as printed in Installed Building Products's own proxy. As printed: 7,096,835. Filing ↗machine: r3 · c36 · span 1222902–1222911
44Apogee Enterprises, Inc., Section 10b CEO totalDEF 14A2026-05-120000006845-26-000036CEO total compensation as printed in Apogee Enterprises, Inc.'s own proxy. As printed: 6,075,286. Filing ↗machine: r18 · c51 · span 853782–853791
45Champion Homes Inc, Section 10b CEO totalDEF 14A2026-06-180001193125-26-275896CEO total compensation as printed in Champion Homes Inc's own proxy. As printed: 5,485,676. Filing ↗machine: r4 · c35 · span 596957–596966
46LGI Homes, Inc., Section 10b CEO totalDEF 14A2026-03-130001580670-26-000030CEO total compensation as printed in LGI Homes, Inc.'s own proxy. As printed: 5,182,051. Filing ↗machine: span 563461–563470
47Gibraltar Industries, Inc., Section 10b CEO totalDEF 14A2026-04-060000912562-26-000083CEO total compensation as printed in Gibraltar Industries, Inc.'s own proxy. As printed: 4,731,001. Filing ↗machine: t256 · r4 · c11 · span 854722–854731
48Section 10a, Apogee Enterprises, Inc. reciprocityDEF 14A0000006845-26-000036Apogee Enterprises, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
49Section 10a, Tri Pointe Homes, Inc. reciprocityDEF 14A0001561680-26-000013Tri Pointe Homes, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
50Section 10a, Meritage Homes Corporation reciprocityDEF 14A0000833079-26-000098Meritage Homes Corporation's most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
51Section 10a, Century Communities, Inc. reciprocityDEF 14A0001140361-26-011011Century Communities, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
52Section 10a, Champion Homes Inc reciprocityDEF 14A0001193125-26-275896Champion Homes Inc names Installed Building Products in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Gibraltar Industries, Inc. reciprocityDEF 14A0000912562-26-000083Gibraltar Industries, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
54Section 10a, Cavco Industries, Inc. reciprocityDEF 14A0001628280-26-043437Cavco Industries, Inc. names Installed Building Products in its own disclosed peer group (read from its most recent proxy). Filing ↗
55Section 10a, Eagle Materials Inc reciprocityDEF 14A0001193125-26-271073Eagle Materials Inc's most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
56Section 10a, LGI Homes, Inc. reciprocityDEF 14A0001580670-26-000030LGI Homes, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
57Section 10a, Simpson Manufacturing Co., Inc. reciprocityDEF 14A0001628280-26-020810Simpson Manufacturing Co., Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗
58Section 10a, M/I Homes, Inc. reciprocityDEF 14A0001193125-26-150356M/I Homes, Inc.'s most recent proxy was read; its disclosed peer group does not include Installed Building Products. Filing ↗