Preliminary proxy statement not related to a contested matter or merger/acquisition

Pay vs Performance Disclosure

v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based On:
Year Summary Compensation Table Total for PEO
(1)		 CAP to PEO
 (1) (3) (4)		 Average Summary Compensation Table Total for Non-PEO NEOs (2) Average CAP to Non-PEO NEOs
(2) (4)		 Cumulative Total Shareholder Return
(5)		 Cumulative Peer Group Total Shareholder Return
(5)		 Net Earnings
(in thousands)
(6)		 Company Selected Measure
(Adjusted ROA)
(6)
2024 $ 11,974,134  $ 10,220,556  $ 3,907,841  $ 3,387,106  $ 256.62  $ 252.18  $ 786,186  13.8  %
2023 $ 10,835,643  $ 21,890,383  $ 3,880,158  $ 6,897,989  $ 286.83  $ 254.57  $ 738,748  15.2  %
2022 $ 8,015,467  $ 5,124,002  $ 2,771,835  $ 1,463,392  $ 150.88  $ 142.70  $ 992,192  20.7  %
2021 $ 7,915,603  $ 13,521,596  $ 3,765,401  $ 6,630,450  $ 199.74  $ 184.74  $ 737,444  20.7  %
2020 $ 9,557,390  $ 15,676,557  $ 3,283,577  $ 5,296,314  $ 135.53  $ 122.47  $ 423,475  13.9  %
       
Named Executive Officers, Footnote For the years 2021 through 2024, our PEO is Phillippe Lord and for 2020, our PEO was Steven J. Hilton, as they served as the Company's CEO during those respective years.Non-PEO NEOs include: Hilla Sferruzza, Steven J. Hilton, Clint Szubinski, Malissia Clinton and Javier Feliciano in 2024, 2023 and 2022; Hilla Sferruzza, Steven J. Hilton, Clint Szubinski, C. Timothy White (our Former Executive Vice President, General Counsel and Secretary) and Javier Feliciano in 2021; and Phillippe Lord, Hilla Sferruzza, C. Timothy White and Javier Feliciano in 2020.        
PEO Total Compensation Amount $ 11,974,134 $ 10,835,643 $ 8,015,467 $ 7,915,603 $ 9,557,390
PEO Actually Paid Compensation Amount $ 10,220,556 21,890,383 5,124,002 13,521,596 15,676,557
Adjustment To PEO Compensation, Footnote Adjustments to the Summary Compensation Table Total to arrive at CAP for PEO are shown below. No adjustments were necessary for defined benefit and pension plans, dividends or forfeitures.
Year Summary Compensation Table Total for PEO Less:
Grant Date Fair Value of Equity Awards Granted in Fiscal Year		 Plus:
Increase/(Decrease) in Fair Value of Equity Vested during Fiscal Year		 Plus:
Increase/(Decrease) in Fair Value of Unvested Equity at Fiscal Year-End
(Current Year Awards)		 Plus:
Increase/(Decrease) in Fair Value of Unvested Equity at Fiscal Year-End
(Prior Year Awards)		 CAP to PEO
2024 $ 11,974,134  $ (4,927,978) $ (612,858) $ 5,382,084  $ (1,594,826) $ 10,220,556 
2023 $ 10,835,643  $ (4,248,118) $ 530,043  $ 7,473,949  $ 7,298,866  $ 21,890,383 
2022 $ 8,015,467  $ (3,667,484) $ (1,235,030) $ 3,642,886  $ (1,631,837) $ 5,124,002 
2021 $ 7,915,603  $ (2,956,519) $ 97,238  $ 4,562,638  $ 3,902,636  $ 13,521,596 
2020 $ 9,557,390  $ (3,513,685) $ 751,280  $ 4,350,566  $ 4,531,006  $ 15,676,557 
       
Non-PEO NEO Average Total Compensation Amount $ 3,907,841 3,880,158 2,771,835 3,765,401 3,283,577
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,387,106 6,897,989 1,463,392 6,630,450 5,296,314
Adjustment to Non-PEO NEO Compensation Footnote Adjustments to the Summary Compensation Table Total to arrive at CAP for Non-PEO NEOs are shown below. No adjustments were necessary for defined benefit and pension plans, dividends or forfeitures.
Year Average Summary Compensation Table Total for Non-PEO NEOs Less:
Average Grant Date Fair Value of Equity Awards Granted in Fiscal Year		 Plus:
Average Increase/(Decrease) in Fair Value of Equity Vested during Fiscal Year		 Plus:
Average Increase/(Decrease) in Fair Value of Unvested Equity at Fiscal Year-End
(Current Year Awards)		 Plus:
Average Increase/(Decrease) in Fair Value of Unvested Equity at Fiscal Year-End
(Prior Year Awards)		 Average CAP to Non-PEO NEOs
2024 $ 3,907,841  $ (1,290,893) $ (164,892) $ 1,392,235  $ (457,185) $ 3,387,106 
2023 $ 3,880,158  $ (1,094,728) $ 273,493  $ 1,888,288  $ 1,950,778  $ 6,897,989 
2022 $ 2,771,835  $ (991,485) $ (660,564) $ 989,330  $ (645,724) $ 1,463,392 
2021 $ 3,765,401  $ (976,923) $ 276,939  $ 1,366,073  $ 2,198,960  $ 6,630,450 
2020 $ 3,283,577  $ (1,167,705) $ 309,118  $ 1,445,912  $ 1,425,412  $ 5,296,314 
       
Compensation Actually Paid vs. Total Shareholder Return We have elected to use the Dow Jones US Home Construction Index as our peer group. The graphs below illustrate the relationship between our cumulative TSR and peer group TSR, and the relationship between our CAP and the cumulative TSR for both the Company and our peer group.2247        
Compensation Actually Paid vs. Net Income The relationships between CAP and Net Earnings and CAP and Adjusted ROA are illustrated in the following graphs. Adjusted ROA is calculated as Net Earnings divided by the average of five trailing quarters Total Assets, less Cash and Cash Equivalents. Net Earnings is adjusted for specific and predetermined items, including the add back of NEO compensation. Our Adjusted ROA as it relates to CAP is demonstrated below.2624        
Compensation Actually Paid vs. Company Selected Measure The relationships between CAP and Net Earnings and CAP and Adjusted ROA are illustrated in the following graphs. Adjusted ROA is calculated as Net Earnings divided by the average of five trailing quarters Total Assets, less Cash and Cash Equivalents. Net Earnings is adjusted for specific and predetermined items, including the add back of NEO compensation. Our Adjusted ROA as it relates to CAP is demonstrated below.2626        
Total Shareholder Return Vs Peer Group We have elected to use the Dow Jones US Home Construction Index as our peer group. The graphs below illustrate the relationship between our cumulative TSR and peer group TSR, and the relationship between our CAP and the cumulative TSR for both the Company and our peer group.2245        
Tabular List, Table
Metric
rTSR
Adjusted ROA
Adjusted EBITDA
Number of Home Closings
Customer Satisfaction Rating
        
Total Shareholder Return Amount $ 256.62 286.83 150.88 199.74 135.53
Peer Group Total Shareholder Return Amount 252.18 254.57 142.70 184.74 122.47
Net Income (Loss) $ 786,186,000 $ 738,748,000 $ 992,192,000 $ 737,444,000 $ 423,475,000
Company Selected Measure Amount 0.138 0.152 0.207 0.207 0.139
PEO Name Phillippe Lord Phillippe Lord Phillippe Lord Phillippe Lord Steven J. Hilton
Measure:: 1          
Pay vs Performance Disclosure          
Name rTSR        
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted ROA        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 4          
Pay vs Performance Disclosure          
Name Number of Home Closings        
Measure:: 5          
Pay vs Performance Disclosure          
Name Customer Satisfaction Rating        
PEO | Phillppe Lord [Member] | Equity Awards Granted During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (4,927,978) $ (4,248,118) $ (3,667,484) $ (2,956,519)  
PEO | Phillppe Lord [Member] | Equity Awards Vested During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (612,858) 530,043 (1,235,030) 97,238  
PEO | Phillppe Lord [Member] | Equity Awards Granted During The Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,382,084 7,473,949 3,642,886 4,562,638  
PEO | Phillppe Lord [Member] | Equity Awards Granted In Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,594,826) 7,298,866 (1,631,837) 3,902,636  
PEO | Steven J. Hilton [Member] | Equity Awards Granted During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         $ (3,513,685)
PEO | Steven J. Hilton [Member] | Equity Awards Vested During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         751,280
PEO | Steven J. Hilton [Member] | Equity Awards Granted During The Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         4,350,566
PEO | Steven J. Hilton [Member] | Equity Awards Granted In Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         4,531,006
Non-PEO NEO | Equity Awards Granted During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,290,893) (1,094,728) (991,485) (976,923) (1,167,705)
Non-PEO NEO | Equity Awards Vested During The Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (164,892) 273,493 (660,564) 276,939 309,118
Non-PEO NEO | Equity Awards Granted During The Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,392,235 1,888,288 989,330 1,366,073 1,445,912
Non-PEO NEO | Equity Awards Granted In Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (457,185) $ 1,950,778 $ (645,724) $ 2,198,960 $ 1,425,412