Meritage Homes CORP
For the period ended Dec 31, 2024. Filed Apr 8, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2024 · Filed Apr 8, 2025
Contents
Developments
COMPENSATION DISCUSSION AND ANALYSIS
2025 Developments
The Compensation Committee annually reviews each NEO’s total compensation relative to market data while considering the responsibilities of their position, their individual performance and tenure. Based on this review of competitive market practices in the homebuilding industry and to reward our NEOs for achievement of extraordinary performance, the compensation changes noted below are effective January 1, 2025.
Base Salary Compensation
The base salary for the executives set forth below will be increased as shown in the table below. The base salary for Messrs. Lord and Hilton did not change.
| Executive Officer | Revised Base Salary |
|---|---|
| Hilla Sferruzza | $800,000 |
| Clinton Szubinski | $800,000 |
| Malissia Clinton | $560,000 |
| Javier Feliciano | $515,000 |
Performance-Based Cash Incentive and Equity (Non-Cash) Compensation
The target annual cash incentive bonus and target value of equity compensation (non-cash) increased to the amounts noted below. Mr. Hilton's target cash and equity incentive did not change.
| Executive Officer | Revised Annual Target Cash Incentive Compensation | Revised Annual Target (non-cash) Equity Incentive Compensation (1) |
|---|---|---|
| Phillippe Lord | $3,250,000 | $5,500,000 |
| Hilla Sferruzza | $1,400,000 | $1,800,000 |
| Clinton Szubinski | $2,000,000 | $2,200,000 |
| Malissia Clinton | $560,000 | $952,000 |
| Javier Feliciano | $386,250 | $849,750 |
(1) Approximately 50% of the award value is to be comprised of time-based restricted stock units and approximately 50% of the award value is to be comprised of performance-based share awards.
44 MERITAGE HOMES |2025 Proxy Statement
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.