LGI Homes, Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: LGIH · Form: DEF 14A · Filed: Mar 15, 2024 · CIK: 1580670

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, LGI Homes, Executive Compensation, Corporate Governance

TL;DR

<b>LGI Homes, Inc. has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023.</b>

AI Summary

LGI Homes, Inc. (LGIH) filed a Proxy Statement (DEF 14A) with the SEC on March 15, 2024. LGI Homes, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 15, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 1450 Lake Robbins Drive, Suite 430, The Woodlands, TX 77380. The filing includes information related to executive compensation, including equity awards granted and vested. The company is incorporated in Delaware and operates within the Operative Builders sector.

Why It Matters

For investors and stakeholders tracking LGI Homes, Inc., this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, board of directors, and voting matters, enabling informed participation in corporate governance. As a DEF 14A filing, it details the company's financial performance and strategic direction, offering insights into its operational health and future outlook for investors.

Risk Assessment

Risk Level: low — LGI Homes, Inc. shows low risk based on this filing. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant operational changes.

Analyst Insight

Review the executive compensation details and any proposals to be voted on by shareholders to understand potential impacts on corporate strategy and shareholder value.

Key Numbers

Key Players & Entities

FAQ

When did LGI Homes, Inc. file this DEF 14A?

LGI Homes, Inc. filed this Proxy Statement (DEF 14A) with the SEC on March 15, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by LGI Homes, Inc. (LGIH).

Where can I read the original DEF 14A filing from LGI Homes, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LGI Homes, Inc..

What are the key takeaways from LGI Homes, Inc.'s DEF 14A?

LGI Homes, Inc. filed this DEF 14A on March 15, 2024. Key takeaways: LGI Homes, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 15, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at 1450 Lake Robbins Drive, Suite 430, The Woodlands, TX 77380..

Is LGI Homes, Inc. a risky investment based on this filing?

Based on this DEF 14A, LGI Homes, Inc. presents a relatively low-risk profile. The filing is a routine proxy statement, indicating standard corporate governance procedures rather than immediate financial distress or significant operational changes.

What should investors do after reading LGI Homes, Inc.'s DEF 14A?

Review the executive compensation details and any proposals to be voted on by shareholders to understand potential impacts on corporate strategy and shareholder value. The overall sentiment from this filing is neutral.

How does LGI Homes, Inc. compare to its industry peers?

LGI Homes, Inc. operates in the Operative Builders sector, a segment of the Real Estate & Construction industry.

Are there regulatory concerns for LGI Homes, Inc.?

The filing is made under the Securities Exchange Act of 1934, specifically as a Definitive Proxy Statement (DEF 14A), which governs the solicitation of proxies from shareholders.

Industry Context

LGI Homes, Inc. operates in the Operative Builders sector, a segment of the Real Estate & Construction industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically as a Definitive Proxy Statement (DEF 14A), which governs the solicitation of proxies from shareholders.

What Investors Should Do

  1. Analyze the executive compensation packages disclosed in the filing.
  2. Review any shareholder proposals or director nominations presented.
  3. Note the company's fiscal year end and filing date for tracking purposes.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for the fiscal year end. No comparative data from a previous filing is directly presented in this extract.

Filing Stats: 4,891 words · 20 min read · ~16 pages · Grade level 13.3 · Accepted 2024-03-15 16:13:45

Filing Documents

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS 26 Anti-Hedging and Insider Trading Policy 27 Equity Compensation Plan Information 28 EXECUTIVE OFFICERS 29 COMPENSATION DISCUSSION AND ANALYSIS 30 Executive Summary 30 Our Executive Compensation Practices 33 What We Paid and Why - Compensation for NEOs 38 Compensation Committee Report 44

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 45 ADDITIONAL INFORMATION 58 ANNEX A : NON-GAAP MEASURES 60 LGI HOMES, INC. 2024 ANNUAL MEETING OF STOCKHOLDERS PROXY STATEMENT INFORMATION CONCERNING VOTING AND SOLICITATION The accompanying proxy is solicited on behalf of the Board of Directors (the "Board" or "Board of Directors") of LGI Homes, Inc. ("LGI", the "Company" or "we") for use at the Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting") to be held at the Company's headquarters located at 1450 Lake Robbins Drive, The Woodlands, Texas 77380, in Suite 140 on April 25, 2024, at 3:00 p.m. (Central Time), and any adjournment thereof. On or about March 15, 2024, we will mail to our stockholders of record and beneficial owners a Notice of Internet Availability of Proxy Materials (the "Notice of Internet Availability") containing instructions on how to access this proxy statement (this "Proxy Statement") and our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (our "2023 Annual Report"), and how to vote online, via the Internet. The Notice of Internet Availability will also contain instructions on how you can receive a paper copy of the proxy materials. Our 2023 Annual Report, Notice of Internet Availability and the proxy card are first being made available online on or about March 15, 2024. QUESTIONS AND ANSWERS ABOUT THE MEETING AND VOTING What is the purpose of the Annual Meeting? At the Annual Meeting, our stockholders will act upon the proposals described in this Proxy Statement. What proposals are scheduled to be voted on at the Annual Meeting? Stockholders will be asked to vote on the following proposals: Proposal 1: To elect Ryan Edone, Eric Lipar, Shailee Parikh, Bryan Sansbury, Maria Sharpe, Steven Smith, and Robert Vahradian to the Board until our next annual meeting of stockholders, until such director's successor is elected or appointed and qualified, or until such director's earlier death, resignation or removal; P

: Gender Identity Female Male Non-Binary Did Not

Part I: Gender Identity Female Male Non-Binary Did Not Disclose Gender Directors 2 5 — —

: Demographic Background

Part II: Demographic Background African American or Black — — — — Alaskan Native or American Indian — — — — Asian 1 — — — Hispanic or Latinx — — — — Native Hawaiian or Pacific Islander — — — — White 1 5 — — Two or More Races or Ethnicities — — — — LGBTQ+ — Did Not Disclose Demographic Background — 6 Directors' Experience and Skills Directors' Biographies Ryan Edone Director Mr. Edone, age 50, has served as a director since November 2014. Mr. Edone is the Chief Financial Officer of Petroleum Wholesale L.P., a distributor of branded and wholesale motor fuel products and operator of retail convenience stores/travel centers across the southwestern United States. Prior to his joining Petroleum Wholesale L.P. in 1999, Mr. Edone was a manager at PricewaterhouseCoopers and a Certified Public Accountant. Mr. Edone is a member of the Board of Directors of Archway Insurance LTD ("Archway"), a captive insurance company. At Archway, Mr. Edone formerly served in roles as the President of the Board and Vice President and Risk Control Chairman of the Board. Mr. Edone is also a member of the ChevronTexaco Petroleum Marketers Association Board. Mr. Edone is the chair of our Audit Committee, and our Board of Directors has determined that Mr. Edone qualifies as an "audit committee financial expert," as such term is defined in Item 407(d) of Regulation S-K. Mr. Edone's experience as an executive with a multi-state retail and wholesale distribution company enables him to provide both financial and operational expertise to the Company. In addition, Mr. Edone brings insurance and risk management expertise that is valuable to support the continued growth of our business. Eric Lipar Chief Executive Officer, Director Mr. Lipar, age 53, is our Chief Executive Officer and serves as Chairman of our Board of Directors. He has served as our Chief Executive Officer since 2009, as a director since June 2013 and as Chairman of the Board since July 2013. Previously, Mr. Lipar

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