Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Effective as of January 1, 2023, Todd Cleveland was appointed as Chairman of the Board of Patrick Industries, Inc. (the "Company"). Previously he was Executive Chairman of the Board. As a result, the letter agreement dated as of December 31, 2021 by and between the Company and Todd Cleveland was terminated.

Mr. Cleveland will receive an annual cash retainer of $310,000 for serving as Chairman. In addition, as a non-executive director, Mr. Cleveland will receive a cash retainer of $90,000 and an equity grant of $125,000, on the same payment schedule as the other non-executive directors. To reflect Mr. Cleveland's service for the period beginning January 1, 2023, he shall receive a prorated portion of the $125,000 equity grant received by the non-executive directors on May 12, 2022.

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