Century Communities Inc
For the period ended May 8, 2024. Filed Mar 27, 2024.
View on SEC.govAbout this filing
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.
May 8, 2024 · Filed Mar 27, 2024
CCS$55.21-3.2%Stored close · as of Nov 6, 2026
Contents
Elements of Our Executive Compensation Program
During 2023, our executive compensation program consisted of several key elements, which are described in the table below along with the key characteristics of, and the purpose for, each element and key 2023 changes.
| Element | Key Characteristics | Purpose | Key 2023 Changes |
|---|---|---|---|
| Base Salary (Fixed, Cash) | A fixed amount that is paid in cash periodically throughout the year and reviewed annually and, if appropriate, adjusted. | Provides a source of fixed income that is market competitive and reflects scope and responsibility of the position held. | No changes. |
| Short-Term Incentive (STI) (Variable, Cash) | A variable, short-term element of compensation that is payable in cash, based on achievement of key pre-established annual corporate financial goals, and sometimes for our CFO, individual goals. | Motivates and rewards our executives for achievement of annual financial and other goals intended to achieve our annual business plan objectives. | The threshold, target and maximum STI opportunities for our NEOs were the same as in 2022. |
| Long-Term Incentives (LTI) (Variable, Performance Share Unit or Restricted Stock Unit Awards) | A variable, long-term element of compensation that is provided either solely in PSU awards or a mix of PSU awards and time-vested restricted stock unit (RSU) awards. The PSU awards vest and are paid out in shares of our common stock on a one-for-one basis upon the achievement of a three-year cumulative performance goal. RSU awards, if granted, are based on target levels of achievement and vest in three equal annual installments. Net shares issued in settlement of the PSU awards are subject to a one-year mandatory holding period. | Aligns the interests of our executives with our stockholders; encourages our executives to focus on long-term company financial performance measures that are deemed strategically and operationally important to our Company; promotes retention of our executives; and encourages significant ownership of our common stock. | Our LTI program consisted of 100% PSU awards, with the LTI opportunities for our NEOs remaining the same as in 2022. |
| Perquisites | Includes an automobile and cell phone allowance, term life insurance, and aircraft time sharing arrangements. | Assists in allowing our executives to more efficiently utilize their time and support them in effectively contributing to our Company success. | No changes. |
| Retirement Benefits | Includes a qualified defined contribution retirement plan with a discretionary Company match. | Provides an opportunity for employees to save and prepare financially for retirement. | No changes. |
We describe each key element of our executive compensation program in more detail in the following pages, along with the compensation decisions made in 2023.
| Century Communities, Inc. – 2024 Proxy Statement | 55 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.