Meritage Homes CORP
For the period ended Dec 31, 2025. Filed Apr 7, 2026.
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Dec 31, 2025 · Filed Apr 7, 2026
Contents
Developments
COMPENSATION DISCUSSION AND ANALYSIS
2026 Developments
Executive Team Update
On January 1, 2026, Austin Woffinden became Executive Vice President, Corporate Operations and Strategy of Meritage Homes. He began his career at Meritage as a Vice President, Regional Counsel in 2007 and has held various operational leadership positions since, including Area President of Dallas Fort Worth and Nashville (2025) and Division President of Dallas Fort Worth (2018-2025). Following is a summary of the compensation components of Mr. Woffinden's employment agreement.
| Base Salary | Annual Target Cash Incentive Compensation | Annual Target (non-cash) Equity Incentive Compensation (1) |
|---|---|---|
| $550,000 | $962,500 | $962,500 |
(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.
Board of Directors Update
On February 17, 2026, Dennis V. Arriola, a member of the Company's Board of Directors, notified the Company that he would step down from his position effective March 31, 2026. The resignation did not result from any disagreements with the Company.
Executive Compensation
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, the compensation changes noted below are effective January 1, 2026.
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 |
|---|---|
| Phillippe Lord | $4,000,000 |
| Hilla Sferruzza | $1,600,000 |
| Malissia Clinton | $756,000 |
| Javier Feliciano | $412,000 |
| Executive Officer | Revised Annual Target (non-cash) Equity Incentive Compensation (1) |
|---|---|
| Phillippe Lord | $6,000,000 |
| Javier Feliciano | $901,250 |
(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.
42 MERITAGE HOMES |2026 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.