8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report: January 21, 2021

(Date of earliest event reported) 

KB HOME

(Exact name of registrant as specified in its charter)

Delaware	1-9195	95-3666267
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10990 Wilshire Boulevard

Los Angeles, California 90024

(Address of principal executive offices) 

Registrant’s telephone number, including area code: (310) 231-4000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock (par value $1.00 per share)	KBH	New York Stock Exchange
Rights to Purchase Series A Participating Cumulative Preferred Stock		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Annual Incentive Awards; Performance Cash Payout. On January 21, 2021, the KB Home board of directors management development and compensation committee determined the 2020 fiscal year incentive awards to eligible participants under KB Home’s annual incentive compensation program. The awards to KB Home’s named executive officers are set forth in the table below. In addition, the board of directors approved the award to Jeffery T. Mezger, KB Home’s president and chief executive officer.

Name	Annual Incentive Award
Jeff J. Kaminski	$	1,655,612
Matthew M. Mandino	$	2,164,254
Jeffrey T. Mezger	$	6,523,927
Albert Z. Praw	$	1,327,546
Brian J. Woram	$	1,226,468

The committee also approved a $337,639 payout of a long-term performance cash award to Mr. Mandino that was granted to him in October 2017 based on operating income performance achieved in each year of the award’s three-year performance period relative to the performance goals established for each such year. This award was granted to Mr. Mandino before he was appointed as an executive officer, and none of the other named executive officers participated in this program.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 26, 2021

 

KB Home
By:	/s/ William (Tony) Richelieu
	William (Tony) Richelieu
	Vice President, Corporate Secretary and Associate General Counsel

 

XML

Cover	Jan. 21, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jan. 21, 2021
Entity Registrant Name	KB HOME
Entity Incorporation, State or Country Code	DE
Entity File Number	1-9195
Entity Tax Identification Number	95-3666267
Entity Address, Address Line One	10990 Wilshire Boulevard
Entity Address, City or Town	Los Angeles,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90024
City Area Code	310
Local Phone Number	231-4000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Document Information [Line Items]
Entity Central Index Key	0000795266
Amendment Flag	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	KBH
Title of 12(b) Security	Common Stock (par value $1.00 per share)
Rights [Member]
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	KBH
Title of 12(b) Security	Rights to Purchase Series A Participating Cumulative Preferred Stock