8-KLeadership ChangesExhibits & Filings

HORTON D R INC /DE/ 8-K Report, Executive Changes (Nov 21, 2006)

Filed November 21, 2006For Securities:DHI

Summary

This Form 8-K filing from D. R. Horton, Inc. (DHI) on November 21, 2006, primarily details the compensation arrangements for its key executive officers for the upcoming 2007 fiscal year. The Compensation Committee of the Board of Directors approved base salaries, performance bonus criteria, and other long-term compensation and benefits for Chairman Donald R. Horton and Vice Chairman, President, and CEO Donald J. Tomnitz. Additionally, the filing outlines the 2007 fiscal year annual salaries for other expected "named executive officers" including Senior Executive Vice President Samuel R. Fuller, Executive Vice President and CFO Bill W. Wheat, and Executive Vice President and Treasurer Stacey H. Dwyer. This information provides insight into the company's executive compensation strategy and its focus on retaining and incentivizing its top leadership for the upcoming fiscal year.

Key Highlights

  • 1D. R. Horton's Compensation Committee approved compensation for fiscal year 2007 for key executives.
  • 2Chairman Donald R. Horton and CEO Donald J. Tomnitz had their base salaries, bonus criteria, and long-term compensation established.
  • 3Other senior executives, including the CFO and Treasurer, also had their fiscal year 2007 salaries approved.
  • 4The filing indicates who is expected to be classified as "named executive officers" for the 2007 fiscal year.
  • 5This report serves to formally document the compensation framework for the company's top leadership for the upcoming fiscal year.
  • 6Exhibit 10.1, a summary of compensation for named executive officers, is incorporated by reference.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose the compensation arrangements for D. R. Horton's key executive officers for the fiscal year 2007. This includes base salaries, performance bonus criteria, and other compensation and benefits.

The filing specifically mentions the compensation for Chairman Donald R. Horton, Vice Chairman, President and CEO Donald J. Tomnitz, Senior Executive Vice President Samuel R. Fuller, Executive Vice President and Chief Financial Officer Bill W. Wheat, and Executive Vice President and Treasurer Stacey H. Dwyer for the 2007 fiscal year.

This filing announces the approval of base salaries, bonus criteria, and other compensation, but the detailed figures are not provided directly in the text of the 8-K. A summary of the compensation of named executive officers is attached as Exhibit 10.1 and is incorporated by reference, which would contain the specific amounts.

The compensation decisions for the 2007 fiscal year were established and approved by the Compensation Committee and the Board of Directors on November 16, 2006.