UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

 

(Mark One)
   
x   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [FEE REQUIRED]
   
For the fiscal year ended December 31, 2014.
 
OR
   
o   TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [NO FEE REQUIRED]
   
For the transition period from ____________ to ____________
 
Commission file number 1-4422
     

 

A. Full title of the plan and address of the plan, if different from that of issuer named below:

 

ROLLINS, INC.

 

ROLLINS 401(k) SAVINGS PLAN

 

 

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive offices:

 

ROLLINS, INC.

2170 PIEDMONT ROAD, N.E.

ATLANTA, GA 30324

 

 

 

 
 

Rollins 401(k) Savings Plan

 

Financial Statements

December 31, 2014 and 2013

 

 

Contents

 

Report of Independent Registered Public Accounting Firm 3
   
Financial Statements:  
   
Statements of Net Assets Available for Benefits 4
Statement of Changes in Net Assets Available for Benefits 5
Notes to Financial Statements 6 –14
   
Supplemental Schedule: 15
Form 5500, Schedule H, Part IV, Line 4i, Schedule of Assets (Held at End of Year) 16
   
Signatures 17
Ex-23.1 Consent – Independent Registered Public Accounting Firm 19

 

Note: All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

 

2
 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Plan Administrator and Participants of the

Rollins 401(k) Savings Plan

Atlanta, Georgia

 

We have audited the accompanying statements of net assets available for benefits of the Rollins 401(k) Savings Plan (the Plan) as of December 31, 2014 and 2013, and the related statement of changes in net assets available for benefits for the year ended December 31, 2014. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2014 and 2013, and the changes in net assets available for benefits for the year ended December 31, 2014, in conformity with accounting principles generally accepted in the United States.

 

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2014 has been subjected to audit procedures performed in conjunction with the audit of the Rollins 401(k) Savings Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements, but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material respects in relation to the financial statements as a whole.

 

 

/s/ Windham Brannon, P.C.

Atlanta, Georgia

June 26, 2015

 

3
 

Rollins 401(k) Savings Plan

 

Statements of Net Assets Available for Benefits

December 31, 2014 and 2013

 

 

   2014  2013
ASSETS      
INVESTMENTS, at fair value:      
Mutual funds  $221,714,403   $189,557,490 
Rollins, Inc. common stock   142,843,355    134,661,039 
Synthetic guaranteed investment contract   74,777,198    64,388,345 
Total Investments   439,334,956    388,606,874 
           
RECEIVABLES:          
Other receivable   102,672    —   
Employee contribution receivable   135,036    268,858 
Employer contribution receivable   2,041,150    1,900,160 
Notes receivable from participants   10,242,569    8,556,565 
Total Receivables   12,521,427    10,725,583 
           
NET ASSETS AVAILABLE FOR BENEFITS, AT FAIR VALUE   451,856,383    399,332,457 
ADJUSTMENT FROM FAIR VALUE TO CONTRACT VALUE FOR FULLY BENEFIT-RESPONSIVE INVESTMENT CONTRACT   (2,493,326)   (922,738)
NET ASSETS AVAILABLE FOR BENEFITS  $449,363,057   $398,409,719 

 

The accompanying notes are an integral part of these financial statements.

 

4
 

Rollins 401(k) Savings Plan

 

Statement of Changes in Net Assets Available for Benefits

for the Year Ended December 31, 2014

 

ADDITIONS     
Investment Income:     
Net change in fair value of mutual funds  $16,878,593 
Net change in fair value of Rollins, Inc. common stock   12,139,942 
Net change in contract value of synthetic GIC   2,037,399 
Dividend income on Rollins, Inc. common stock   1,855,121 
Total Investment Income   32,911,055 
      
Interest income on notes receivable from participants   484,646 
Contributions:     
Participants   23,028,482 
Employer   8,331,255 
Rollovers   884,318 
Total Contributions   32,244,055 
Total Additions   65,639,756 
      
DEDUCTIONS     
Distributions to participants   36,434,170 
Participant transaction charges   108,053 
Total Deductions   36,542,223 
      
NET INCREASE IN NET ASSETS   29,097,533 
      
TRANSFER OF ASSETS INTO  THE PLAN   21,855,805 
      
NET ASSETS AVAILABLE FOR BENEFITS:     
BEGINNING OF YEAR   398,409,719 
END OF THE YEAR  $449,363,057 

 

The accompanying notes are an integral part of these financial statements.

 

5
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

1.DESCRIPTION OF PLAN

 

The following brief description of the Rollins 401(k) Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.

 

General

 

The Plan, as amended and restated, is a defined contribution plan covering all employees of Rollins, Inc. (the “Company”), and its subsidiaries that participate in the Plan. The exceptions are for those who are members of a collective bargaining unit, or employees of PCO Services, Inc. (the Company’s Canadian subsidiary), Western Industries-North, LLC, Western Industries-South, LLC and Waltham Services, LLC union employees. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended.

 

The Plan administrator has the discretion to provide transfers to and from defined contribution plans maintained by related companies. This provision is intended primarily to facilitate periodic transfers to and from the Western Industries Retirement Savings Plan (“Western Plan”) and Waltham Services, LLC Tax-Favored Employees’ Savings Plan (“Waltham Plan”), without requiring participant elections, but may also apply to other 401(k) plans acquired in other acquisitions.

 

On August 1, 2014, Rollins, Inc. acquired PermaTreat Pest Control Company, Inc. PermaTreat also had a 401(k) Plan, PermaTreat, Inc. Employee Retirement Plan & Trust (“PermaTreat Plan”). The eligibility for the PermaTreat Plan was frozen as of September 1, 2014, at which time the employees became eligible (if they had satisfied eligibility requirements) for the Rollins 401(k) Savings Plan. The PermaTreat Plan was merged into the Rollins 401(k) Savings Plan in December 2014.

 

The Plan has designated the Plan investment fund invested primarily in Rollins, Inc. Common Stock as an employee stock ownership plan within the meaning of Section 4975(e)(7) of the Internal Revenue Code (the “Code”). The Administrative Committee may allow participants to elect to receive dividends on Rollins, Inc. Common Stock in cash as taxable compensation or to have such dividends paid to the Plan and reinvested in Rollins, Inc. Common Stock with taxes deferred. Participants may exercise voting, tendering and similar rights with respect to shares of Rollins, Inc. Common Stock held in their accounts under the Plan agreement.

 

Eligibility

 

Employees are eligible to participate in the Plan on the first day of the quarter on or following the completion of three months of service for fulltime employees and following one year of service and 1,000 hours for non-fulltime employees, as defined in the Plan.

 

6
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

The Company may establish different eligibility requirements and enrollment procedures with respect to employees who are employed as a result of a corporate transaction.

 

Contributions

 

Eligible employees are automatically enrolled in the Plan, and pre-tax contributions are withheld at 3% of eligible compensation unless the employee elects differently. Participants may contribute from 1% to 75% of their compensation to the Plan via payroll deductions, except for highly compensated employees who may contribute from 1% to 7% of their compensation. Contributions by participants are not to exceed the annual maximum limitations of the Code, which for 2014 was $17,500. Participants age 50 or older may also make additional “catch-up” contributions limited to $5,500 in 2014. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollovers).

 

The Company provides a matching contribution to participants equal to 50 cents for every dollar a participant contributes that does not exceed 6% of their annual eligible compensation. The Company matching contributions are made at the end of each calendar quarter. In order to receive the Company match, the participant must be actively employed on the last day of the calendar quarter. For the year ended December 31, 2014, the Company contributed approximately $8.5 million in matching contributions.

 

Participant Accounts

 

Each participant’s account is credited with the participant’s contributions, rollovers, the Company’s contributions and earnings on the investments in their account and is charged with specific transaction fees. Participants direct the investment of their contributions and the Company’s contribution into various investment options offered by the Plan. The Plan currently offers a synthetic guaranteed investment contract, eleven mutual funds, and the Company’s common stock as investment options for participants. Participants may change their investment options on a daily basis. The default investment fund is selected by the Administrator. The Administrator has elected GoalMaker (an asset allocation model based on the participant’s expected retirement date which includes various fund options offered by the Plan) as the default investment option. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account. Approximately 13% of participants are no longer employees of the Company.

 

Notes Receivable from Participants

 

The Plan provides for loans to participants up to the lesser of 50% of the individual participant’s vested account balance of employee contributions plus actual earnings thereon or $50,000. Principal and interest are paid ratably through payroll deductions. A participant’s loan payments of principal and interest are allocated to their account and invested according to their current investment elections. Loan terms range from 1 to 5 years. Participant loans are secured by the balance in the participant’s account and bear interest at a rate equal to prime plus 2%. Interest rates are updated quarterly. The update takes place on the last business day of the calendar quarter effective for loans made on or after the first business day of the subsequent quarter. Participants may only have one loan outstanding at a time.

 

7
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

Vesting

 

Participants are vested immediately in their contributions and in their share of the Pension Restoration Contributions, plus actual earnings thereon. Participants who previously participated in predecessor plans may be subject to different vesting schedules. Participants vest in Company matching contributions plus actual earnings thereon based on the following schedule:

 

   Vested
Percentage
Years of service:     
Less than two   0%
Two, but less than three   20%
Three, but less than four   40%
Four, but less than five   60%
Five, but less than six   80%
Six or more   100%

 

Forfeitures

 

Forfeited non-vested accounts are used to reduce employer contributions. Total forfeitures used to reduce employer contributions were $794,634 in 2014. Forfeited non-vested accounts were $210,081 and $209,747 at December 31, 2014 and, 2013, respectively.

 

Payment of Benefits

 

Upon retirement, death, total and permanent disability, or termination for any reason, the participant or their beneficiary may receive the total value of their vested account in either a lump sum distribution, a rollover of assets into another qualified plan, or in systematic distributions.

 

A participant may also elect to withdraw all or a portion of his or her account at any time through hardship provisions as defined by the Code and subject to approval by the Company. After a hardship withdrawal, a participant may not make any contributions into their account for a period of six months.

 

Participants who are active employees may withdraw all or a part of their accounts, including the Company matching contributions, upon reaching age 70 1/2 or upon becoming disabled.

 

The Plan provides that if an employee terminates employment and their vested account balance in the Plan is more than $1,000 but not more than $5,000, and they do not elect either to receive or roll over a single lump-sum payment, their account will be rolled over into an Individual Retirement Account (“IRA”).

 

8
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

Participant Transaction Charges

 

All loan fees, investment transaction fees, and recordkeeping fees are paid by participants in the Plan. Loan fees are charged directly to the participant requesting the loan. Transaction and recordkeeping fees are netted with the change in fair value in each participant’s account. The Company paid all other administrative expenses of the Plan during 2014.

 

Plan Termination

 

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their accounts.

 

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Accounting

 

The financial statements of the Plan are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States.

 

Because the synthetic guaranteed investment contract (GIC) is fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the synthetic GIC because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The contract value represents contributions made under the contract, plus earnings, and less participant withdrawals. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investments at contract value. The Statements of Net Assets Available for Benefits present the fair value of the investment contracts as well as the adjustment from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis for the synthetic GIC.

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the Plan’s management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

 

9
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

Investment Valuation and Income Recognition

 

The Plan’s investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan’s Administrative Committee determines the Plan’s valuation policies utilizing information provided by the investment advisers, custodians, and insurance company. See Note 4 for discussion of fair value measurements.

 

Securities transactions are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Investment income includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

 

Notes Receivable from Participants

 

Notes receivable from participants are carried at their unpaid principal balance. Interest income is recognized when received, primarily per pay period. As delinquent participant notes 90 days past the due date are recorded as distributions based on the terms of the Plan agreement, no allowance for credit losses has been recorded as of December 31, 2014 or 2013.

 

Benefit Payments

 

Benefit payments are recorded when paid.

 

3.INVESTMENTS

 

Investments at December 31, 2014 and 2013 that represent 5% or more of the Plan’s net assets are as follows:

 

   2014  2013
Mutual Funds:          
Franklin Growth Adv  $49,455,277   $41,045,314 
Oakmark Equity and Income Fund   34,662,072    30,775,621 
Vanguard Windsor II Admiral Fund   32,178,104    26,867,532 
PIMCO Total Return Institutional Fund   25,503,793    21,830,093 
American EuroPacific Growth   26,934,072    21,817,113 
           
Common Stock:          
Rollins, Inc. Common Stock   142,843,355    134,661,039 
           
Synthetic Guaranteed Investment Contract:          
Prudential Guaranteed Fund-Rollins, Inc.   74,777,198    64,388,345 

 

The Plan invests in various investment securities, which are exposed to various risks such as interest rate, market, and credit risks. The fair value of investment securities fluctuates, and it is at least reasonably possible that changes in the value of investment securities will occur in the near term and that such changes could materially affect the participant account balances and the amounts reported in the statements of net assets available for benefits.

 

10
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

4.FAIR VALUE MEASUREMENTS

 

Generally accepted accounting principles establish a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three levels. The fair value hierarchy gives the highest priority to quoted market prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Level 2 inputs are inputs from quoted market prices in active markets for similar assets and liabilities, which are observable for the asset or liability, either directly or indirectly. The Plan uses Level 1 inputs when available as Level 1 inputs generally provide the most reliable evidence of fair value.

 

Certain investments are reported at fair value on a recurring basis in the statements of net assets available for benefits.  The following methods and assumptions were used to estimate the fair values.

 

Mutual funds and common stock – These investments consist of various publicly-traded mutual funds and common stock and are categorized as Level 1. The fair values are based on quoted market prices for the identical securities.

 

Synthetic GIC –The synthetic GIC is a wrap contract paired with underlying investments which are owned by the Plan. The underlying investments consist of high-quality, intermediate fixed income securities. The wrapper contract relating to the synthetic GIC was purchased through Prudential Bank & Trust, FSB, and has a fair value of $0 at both December 31, 2014 and 2013, based on the expected replacement cost of the contract. The trust’s crediting interest rate on the synthetic GIC is determined using an explicit formula specified in the interest schedule within the synthetic GIC contract. The rate is reset every six months. The average yields on the synthetic GIC based on actual earnings and interest rate credited to participants for the years ended December 31, 2014 and 2013 are as follows:

 

   2014  2013
Based on actual earnings   2.2%   2.4%
Based on interest rate credited to participants   2.9%   3.0%

 

 

This investment is categorized as a Level 2 asset as the fair value is determined using observable inputs including the average earnings yield, which is comparable to similar securities.

 

11
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

Fair value information for investments that are measured on a recurring basis was as follows at December 31, 2014 and 2013:

 

   Fair Value Measurements at December 31, 2014
   Level 1  Level 2  Level 3  Total
Mutual funds:                    
Large blend funds  $6,917,866   $—     $—     $6,917,866 
Mid-cap value funds   21,151,464    —      —      21,151,464 
Foreign large blend fund   26,934,072    —      —      26,934,072 
Intermediate term bond fund   25,503,793    —      —      25,503,793 
Large growth fund   49,455,277    —      —      49,455,277 
Large value fund   32,178,104    —      —      32,178,104 
Moderate allocation fund   34,662,072    —      —      34,662,072 
Small growth fund   15,072,428    —      —      15,072,428 
World stock fund   9,839,327    —      —      9,839,327 
Rollins, Inc. Common Stock   142,843,355    —      —      142,843,355 
Synthetic Guaranteed Investment Contract   —      74,777,198    —      74,777,198 
Total investments, at fair value  $364,557,758   $74,777,198   $—     $439,334,956 

 

 

   Fair Value Measurements at December 31, 2013
   Level 1  Level 2  Level 3  Total
Mutual funds:                    
Large blend funds  $5,076,017   $—     $—     $5,076,017 
Mid-cap value funds   18,058,069    —      —      18,058,069 
Foreign large blend fund   21,817,112    —      —      21,817,112 
Intermediate term bond fund   21,830,097    —      —      21,830,097 
Large growth fund   41,045,314    —      —      41,045,314 
Large value fund   26,867,531    —      —      26,867,531 
Moderate allocation fund   30,775,621    —      —      30,775,621 
Small growth fund   14,754,402    —      —      14,754,402 
World stock fund   9,333,327    —      —      9,333,327 
Rollins, Inc. Common Stock   134,661,039    —      —      134,661,039 
Synthetic Guaranteed Investment Contract   —      64,388,345    —      64,388,345 
Total investments, at fair value  $324,218,529   $64,388,345   $—     $388,606,874 

 

5.INCOME TAX STATUS

 

The Plan received a determination letter from the Internal Revenue Service dated January 25, 2011, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the “Code”) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan has been amended since receiving the determination letter; however, the Plan Administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and has no income subject to unrelated business income tax. Therefore, the Plan Administrator believes that the Plan, as amended, is qualified and the related trust is tax exempt. The Plan’s income tax returns for the past three years are subject to examination by taxing authorities and may change upon examination.

 

12
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

6.TRANSACTIONS WITH PARTIES-IN-INTEREST

 

At December 31, 2014 the Plan held approximately 4.3 million shares of Rollins, Inc. common stock; whereas at December 31, 2013 the plan held approximately 4.4 million shares of Rollins, Inc. common stock. The fair value of the Plan’s investment in Rollins, Inc. common stock at December 31, 2014 and 2013 was approximately $142.8 million and $134.7 million, respectively. During 2014, the Plan received approximately $1.9 million in dividends on Rollins, Inc. common stock, which was used to purchase additional shares of that stock.

 

At December 31, 2014 and 2013, the Plan investments include a synthetic GIC that is managed directly by Prudential Retirement Insurance and Annuity Company. Prudential Retirement Insurance and Annuity Company and Prudential Bank & Trust F.S.B are the custodians as defined by the Plan; therefore, transactions in this security qualify as party-in-interest transactions.

 

7.RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

 

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 as of December 31, 2014 and 2013:

 

   2014  2013
Total net assets available for benefits per the financial statements  $449,363,057   $398,409,719 
Less: current year employer receivables, employee receivables and other receivables   (2,278,858)   (2,169,018)
Add: adjustment from contract value to fair value for fully benefit-responsive synthetic GIC   2,493,326    922,738 
Total net assets available for benefits per the Form 5500  $449,577,525   $397,163,439 

 

13
 

Rollins 401(k) Savings Plan

 

Notes to Financial Statements

 

December 31, 2014 and 2013

 

The following is a reconciliation of the total increase in net assets available for benefits per the financial statements to the Form 5500 for the year ended December 31, 2014:

 

   2014
Increase in net assets available for benefits per the financial statements  $50,953,338 
Less: current year employer receivables, employee receivables and other receivables   (2,278,858)
Add: prior year employer and employee receivables   2,169,018 
Add: adjustment from contract value to fair value for fully benefit-responsive synthetic GIC at end of year   2,493,326 
Less: adjustment from contract value to fair value for fully benefit-responsive synthetic GIC at beginning of year   (922,738)
Increase in net assets available for benefits per the Form 5500  $52,414,086 

 

14
 

 

Supplemental Schedule

 

15
 

ROLLINS 401(k) SAVINGS PLAN

 

EIN: 51-0068479 Plan No: 002

FORM 5500, SCHEDULE H, Part IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2014

 

   (b)      
   Identity of Issue,  (c)   
   Borrower,  Description of  (e)
(a)  Lessor, or Similar Party  Investment  Current Value
          
        Mutual Funds:     
     Pimco Institutional Funds  Pimco Total Return Institutional Fund  $25,503,793 
     Victory Funds  Victory Small Company Opp Funds   2,163,459 
     Vanguard Funds  Vanguard Windsor II Adm Fund   32,178,104 
     Vanguard Funds  Vanguard Tru 500 Admiral   6,917,866 
     T. Rowe Price Funds  T Rowe Price New Horizons Fund   15,072,428 
     Goldman Sachs Funds  Goldman Sachs Mid Cap Value A Fund   15,566,042 
     American Funds  Capital World G/I  R4   9,839,327 
     American Funds  American Europacific Growth R4 Fund   26,934,072 
     Oakmark Funds  Oakmark Equity & Income Fund   34,662,072 
     Franklin Funds  Franklin Growth Adv   49,455,277 
     Morgan Stanley Funds  Inst Mid-Cap Growth I   3,421,963 
 *   Rollins, Inc.  Common Stock   142,843,355 
 *   Prudential  Prudential Guaranteed Fund-Rollins, Inc.   74,777,198 
 *   Participant Loans  Interest rates ranging from 5.25%   10,242,569 
              
           $449,577,525 

 

* Indicates a party-in-interest to the Plan.

 

16
 

SIGNATURES

 

The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

ROLLINS 401(k) Savings Plan
(Registrant)
       
       
Date:  June 26, 2015   By:   /s/ Henry Anthony   
      Henry Anthony
      Vice President, Rollins, Inc. Human Resources

 

 

17
 

 

INDEX OF EXHIBITS

 

Exhibit
Number
 
   
(23.1) Consent of Windham Brannon, P.C., Independent Registered Public Accounting Firm.

 

18