XML 48 R2.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Apr. 02, 2022
Apr. 03, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100
Investment Based on:
Year
Summary
Compensation
Table Total for CEO
($) (1)
Compensation
Actually
Paid to CEO
($) (2)
Average
Summary
Compensation
Table Total for
Non-CEO
Named Executive
Officers
($) (3)(4)
Average
Compensation
Actually Paid
to Non-CEO
Named
Executive
Officers
($) (2)(3)
Total
Shareholder
Return
($) (5)
Peer Group
Total
Shareholder
Return
($) (6)
Net
Income
($ thousands)
(7)
Adjusted
Pre-tax
Income
($ thousands)
(8)
20244,510,8086,134,6011,416,5781,577,377269389157,905198,235
20235,410,2157,974,0301,674,1112,019,563214235240,841316,564
20224,717,7164,520,8931,130,1491,076,439164198197,742209,610
20213,606,2225,212,053968,262933,18315722876,64698,602
     
Company Selected Measure Name Adjusted Pre-tax Income      
Named Executive Officers, Footnote Represents the total compensation reported for our CEO, Mr. Boor, for each corresponding year in the “Total” column of the Summary Compensation Table.For FY2024, our non-CEO NEOs were Ms. Aden and Messrs. Cira, Niño, Dragash and Like. For FY2023, our non-CEO NEOs were Ms. Aden and Messrs. Cira, Niño and Dragash. For FY2022, our non-CEO NEOs were Messrs. Niño, Cira, Dragash and Bigbee and Mses. Aden and Reynolds. For FY2021, our non-CEO NEOs were Messrs. Urness, Niño, Zeller, Dragash and Bigbee.      
Peer Group Issuers, Footnote Represents the TSR for the iShares U.S. Home Construction ETF. For purposes of the table, an initial investment of $100 (with reinvestment of all dividends) is assumed to have been made in the iShares U.S. Home Construction ETF for the measurement period beginning on the last trading day before the Company’s earliest fiscal year in the table, through and including the end of the fiscal year for which cumulative TSR of iShares U.S. Home Construction ETF is being calculated.      
PEO Total Compensation Amount $ 4,510,808 $ 5,410,215 $ 4,717,716 $ 3,606,222
PEO Actually Paid Compensation Amount $ 6,134,601 7,974,030 4,520,893 5,212,053
Adjustment To PEO Compensation, Footnote In accordance with Item 402(v) of Regulation S-K, adjustments were made to the total compensation for our CEO and the average total compensation for the NEOs as a group (excluding our CEO) in each year’s respective Proxy Statement to determine the “compensation actually paid." These adjustments are detailed in the tables below.
Year
Reported
Summary
Compensation
Table Total
($)
Reported
Value
of Stock Awards
($) (a)
Stock Award
Adjustments
($) (b)
Compensation
Actually Paid
($)
20244,510,808 (2,802,500)4,426,293 6,134,601 
CEO20235,410,215 (2,300,175)4,863,990 7,974,030 
20224,717,716 (1,915,335)1,718,512 4,520,893 
20213,606,222 (1,406,136)3,011,967 5,212,053 
Average of
non-CEO NEOs
20241,416,578 (460,881)621,681 1,577,377 
20231,674,111 (437,678)783,130 2,019,563 
20221,130,149 (212,686)158,976 1,076,439 
2021968,262 (157,137)122,058 933,183 
(a)Represents the grant date fair value of equity awards reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)Equity award adjustments for each applicable year are further detailed in the table below.
Year
Year End Fair
Value of
Outstanding and
Unvested Stock
Awards Granted
in the Year
Year over Year
Change in Fair
Value
of Outstanding and
Unvested Stock
Awards
Year over Year
Change in Fair
Value of Awards
Granted in Prior
Years that Vested
in the Year
Year over Year
Change in Fair
Value of Stock
Awards Granted
in Prior Years that
were Cancelled
in the Year
Total Stock
Award
Adjustments
20243,791,0701,234,763(408,896)(190,644)4,426,293
CEO20233,482,4301,103,758277,8024,863,990
20222,194,56014,285(490,333)1,718,512
20212,035,0621,271,832(294,927)3,011,967
Average of
non-CEO NEOs
2024545,595169,585(36,814)(56,685)621,681
2023665,66586,37125,4425,652783,130
2022196,6984,411(28,377)(13,756)158,976
2021176,780132,626(19,790)(167,558)122,058
     
Non-PEO NEO Average Total Compensation Amount $ 1,416,578 1,674,111 1,130,149 968,262
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,577,377 2,019,563 1,076,439 933,183
Adjustment to Non-PEO NEO Compensation Footnote In accordance with Item 402(v) of Regulation S-K, adjustments were made to the total compensation for our CEO and the average total compensation for the NEOs as a group (excluding our CEO) in each year’s respective Proxy Statement to determine the “compensation actually paid." These adjustments are detailed in the tables below.Represents the average total compensation reported for our non-CEO NEOs, derived from the “Total” column of the Summary Compensation Table in each year’s respective Proxy Statement.
Year
Reported
Summary
Compensation
Table Total
($)
Reported
Value
of Stock Awards
($) (a)
Stock Award
Adjustments
($) (b)
Compensation
Actually Paid
($)
20244,510,808 (2,802,500)4,426,293 6,134,601 
CEO20235,410,215 (2,300,175)4,863,990 7,974,030 
20224,717,716 (1,915,335)1,718,512 4,520,893 
20213,606,222 (1,406,136)3,011,967 5,212,053 
Average of
non-CEO NEOs
20241,416,578 (460,881)621,681 1,577,377 
20231,674,111 (437,678)783,130 2,019,563 
20221,130,149 (212,686)158,976 1,076,439 
2021968,262 (157,137)122,058 933,183 
(a)Represents the grant date fair value of equity awards reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)Equity award adjustments for each applicable year are further detailed in the table below.
Year
Year End Fair
Value of
Outstanding and
Unvested Stock
Awards Granted
in the Year
Year over Year
Change in Fair
Value
of Outstanding and
Unvested Stock
Awards
Year over Year
Change in Fair
Value of Awards
Granted in Prior
Years that Vested
in the Year
Year over Year
Change in Fair
Value of Stock
Awards Granted
in Prior Years that
were Cancelled
in the Year
Total Stock
Award
Adjustments
20243,791,0701,234,763(408,896)(190,644)4,426,293
CEO20233,482,4301,103,758277,8024,863,990
20222,194,56014,285(490,333)1,718,512
20212,035,0621,271,832(294,927)3,011,967
Average of
non-CEO NEOs
2024545,595169,585(36,814)(56,685)621,681
2023665,66586,37125,4425,652783,130
2022196,6984,411(28,377)(13,756)158,976
2021176,780132,626(19,790)(167,558)122,058
     
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid and TSR
The following chart sets forth the relationship between compensation actually paid to our CEO, the average of compensation actually paid to our non-CEO NEOs, and the cumulative TSR of the Company and of iShares U.S. Home Construction ETF over the four most recently completed fiscal years.
2792
     
Compensation Actually Paid vs. Net Income
Compensation Actually Paid and Net Income
The following chart sets forth the relationship between compensation actually paid to our CEO, the average of compensation actually paid to our non-CEO NEOs, and our Net Income during the four most recently completed fiscal years.
3068
     
Compensation Actually Paid vs. Company Selected Measure
Compensation Actually Paid and Adjusted Pre-tax Income
The following chart sets forth the relationship between compensation actually paid to our CEO, the average of compensation actually paid to our non-CEO NEOs, and our Adjusted Pre-tax Income during the four most recently completed fiscal years.
3370
     
Total Shareholder Return Vs Peer Group
Compensation Actually Paid and TSR
The following chart sets forth the relationship between compensation actually paid to our CEO, the average of compensation actually paid to our non-CEO NEOs, and the cumulative TSR of the Company and of iShares U.S. Home Construction ETF over the four most recently completed fiscal years.
2792
     
Tabular List, Table
•    Adjusted Pre-tax Income
•    Individual Objective Based Performance
•    Market Share
•    Floors per employee
•    Relative TSR
     
Total Shareholder Return Amount $ 269 214 164 157
Peer Group Total Shareholder Return Amount 389 235 198 228
Net Income (Loss) $ 157,905,000 $ 240,841,000 $ 197,742,000 $ 76,646,000
Company Selected Measure Amount 198,235,000 316,564,000 209,610,000 98,602,000
PEO Name Mr. Boor      
Additional 402(v) Disclosure
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain measures of financial performance of the Company. See “Executive Compensation—Compensation Discussion and Analysis” above for additional information about how the Company aligns executive compensation with its performance.
Represents the total shareholder return (“TSR”) on our common stock assuming an initial investment of $100 (with reinvestment of dividends) from the measurement period beginning on the last trading day before the Company’s earliest fiscal year in the table, through and including the end of the fiscal year for which cumulative TSR of the Company is being calculated.Represents our net income, in thousands, as reported in our Annual Report on Form 10-K for each of the years presented.Represents, in the Company’s assessment, the most important financial performance measure used to link compensation actually paid to our NEOs, for the most recently completed fiscal year, to Company performance. Company-selected measure is Adjusted Pre-tax Income, which is Pre-tax income after adjustments, including costs related to: (i) the SEC litigation; (ii) unrealized gains and losses on equity investments; (iii) earnings from Craftsman Homes, LLC ("Craftsman") that are attributable to a noncontrolling interest; (iv) Craftsman noncontrolling interest valuation charges; (v) severance charges; and (vi) deal costs.
Company Performance Measures
Listed below are the financial and non-financial performance measures which in the Company’s assessment represent the most important performance measures used to link compensation actually paid to our NEOs for FY2024 to the Company’s performance:
     
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Pre-tax Income      
Measure:: 2        
Pay vs Performance Disclosure        
Name Individual Objective Based Performance      
Measure:: 3        
Pay vs Performance Disclosure        
Name Market Share      
Measure:: 4        
Pay vs Performance Disclosure        
Name Floors per employee      
Measure:: 5        
Pay vs Performance Disclosure        
Name Relative TSR      
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (2,802,500) $ (2,300,175) $ (1,915,335) $ (1,406,136)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,426,293 4,863,990 1,718,512 3,011,967
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,791,070 3,482,430 2,194,560 2,035,062
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,234,763 1,103,758 14,285 1,271,832
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (408,896) 277,802 (490,333) (294,927)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (190,644) 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (460,881) (437,678) (212,686) (157,137)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 621,681 783,130 158,976 122,058
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 545,595 665,665 196,698 176,780
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 169,585 86,371 4,411 132,626
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (36,814) 25,442 (28,377) (19,790)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (56,685) $ 5,652 $ (13,756) $ (167,558)