Nobility Homes Inc. Schedules Annual Shareholder Meeting

TL;DR

Nobility Homes (NOBL) proxy statement filed for July 22nd annual meeting. All clear.

AI Summary

Nobility Homes Inc. is holding its Annual Meeting of Shareholders on July 22, 2024. The company, based in Ocala, Florida, is filing its definitive proxy statement (DEF 14A) to provide shareholders with information regarding the meeting and voting procedures. The filing indicates no fee was required for this statement.

Why It Matters

This filing informs shareholders about the upcoming annual meeting, outlining the procedures and information necessary for them to participate in corporate governance decisions.

Risk Assessment

Risk Level: low — This is a routine proxy statement filing for an annual shareholder meeting, not indicating any unusual financial or operational events.

Key Players & Entities

• NOBILITY HOMES INC (company) — Registrant
• July 22, 2024 (date) — Annual Meeting Date
• Ocala, Florida (location) — Company Headquarters

FAQ

Key Financial Figures

• $100,000 — al year ended November 4, 2023 exceeded $100,000. We refer to these individuals as the n
• $19,975 — for fiscal years 2023 and 2022 includes $19,975 in annual insurance premiums paid or ac
• $16,220 — for fiscal years 2023 and 2022 includes $16,220 in annual insurance premiums paid or ac
• $100 — NEOs ($)(4) Value of Initial Fixed $100 Investment Based on TSR ($)(3) Net
• $3,000 — ees of Nobility Homes received a fee of $3,000 per board meeting. The chairman of the
• $1,250 — Audit Committee received an additional $1,250 per board meeting. Mr. Havener received
• $5,103 — ing. Mr. Havener received an additional $5,103 for travel expenses and costs associate

Filing Documents

• d843806ddef14a.htm (DEF 14A) — 110KB
• g843806g0531183035242.jpg (GRAPHIC) — 3KB
• g843806g0531183035618.jpg (GRAPHIC) — 24KB
• g843806g17e01.jpg (GRAPHIC) — 190KB
• g843806g18o02.jpg (GRAPHIC) — 208KB
• 0001193125-24-151653.txt ( ) — 697KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 5 AUDIT COMMITTEE REPORT 8 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 9 TRANSACTIONS WITH RELATED PERSONS 10 SHAREHOLDER PROPOSALS AND COMMUNICATION WITH THE BOARD OF DIRECTORS 10 IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS 11 OTHER MATTERS 11 EXPENSES OF SOLICITATION 11 i Table of Contents NOBILITY HOMES, INC. PROXY STATEMENT FOR ANNUAL MEETING OF SHAREHOLDERS TO BE HELD JULY 22, 2024 This proxy material and the enclosed form of proxy are being sent to the shareholders of Nobility Homes, Inc. on or about May 31, 2024, in connection with the solicitation by our board of directors of proxies to be used at the annual meeting of our shareholders. The meeting will be held at our executive offices, 3741 S.W. 7 th Street, Ocala, Florida, at 10:00 A.M. local time, on Monday, July 22, 2024. If the enclosed form of proxy is executed and returned, you may revoke it at any time if it has not yet been exercised, by delivering a later dated proxy or written notice of revocation to our corporate secretary or by attending the annual meeting and electing to vote in person. The shares represented by the proxy will be voted unless the proxy is received in such form as to render it not votable. The proxy is in ballot form so that you may specifically grant or withhold authority to vote for the election of each director. Our board of directors has designated Terry E. Trexler and Jean Etheredge, and each or either of them, as proxies to vote the shares of common stock solicited on its behalf. In the election of directors, you may vote FOR all or some of the nominees or your vote may be WITHHELD with respect to one or more of the nominees. Directors are elected by a plurality of the votes cast at the meeting, which means that the four nominees who receive the highest number of properly executed votes will be elected as directors, even if those nominees do not receive a majority of the votes cast. A

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION Overview The compensation committee of our board of directors established, subject to the approval of the full board of directors, the compensation for our chief executive officer and our chief financial officer, who are our only officers whose total compensation for the fiscal year ended November 4, 2023 exceeded $100,000. We refer to these individuals as the named executive officers. Because we are a small company, our compensation committee has sought to avoid the expense of retaining an outside compensation consultant to assist the committee with compensation plan design. The compensation committee takes into consideration recommendations of our CEO for compensation for officers other than our CEO. Base Salary . The compensation committee sets salary levels for named executive officers so as to reflect the duties and level of responsibilities inherent in their positions and current economic conditions relating to our business. In establishing salary levels, the compensation committee considers the particular qualifications and level of experience of the individual. At his request, our CEOs base salary has remained fixed for over twenty five fiscal years because a major incentive for his performance is the value of his substantial stock ownership in Nobility Homes. Our CFO receives the same base salary as our CEO. We have not increased our CFOs base salary since 2005. Quarterly Incentive Bonuses . We provide certain employees, including the named executive officers, the opportunity to earn a quarterly incentive bonus based on an evaluation of the employees individual performance and our performance. The bonus pool is based on a specified percentage of earnings before interest and taxes for the quarter. The bonus pool is divided among eligible employees on a discretionary basis. In considering bonuses for named executive officers other than the CEO, the compensation committee consults with our chairman and CEO regarding instances

View Full Filing

View this DEF 14A filing on SEC EDGAR