8-KEarnings & ResultsLeadership ChangesExhibits & Filings

HORTON D R INC /DE/ 8-K Report, Financial Results (Apr 22, 2021)

Filed April 22, 2021For Securities:DHI

Summary

D.R. Horton, Inc. (DHI) filed an 8-K on April 22, 2021, primarily announcing its second-quarter financial results and a significant board appointment. The company reported its financial performance for the quarter ended March 31, 2021, through a press release, which also included the declaration of a quarterly dividend. Investors should refer to the press release (Exhibit 99.1) for detailed operational and financial metrics. In addition to the financial update, the filing discloses the appointment of Dr. Benjamin S. Carson, Sr. to the company's Board of Directors, effective April 20, 2021. Dr. Carson's extensive background in housing and public service, particularly his tenure as Secretary of HUD, brings valuable experience to the board. His appointment expands the board to seven directors and strengthens its independence, with six out of seven directors being independent.

Key Highlights

  • 1D.R. Horton announced its second-quarter financial results for the period ending March 31, 2021.
  • 2A quarterly dividend was declared by the company.
  • 3Dr. Benjamin S. Carson, Sr. was appointed to the Board of Directors, effective April 20, 2021.
  • 4Dr. Carson's appointment expands the Board to seven directors.
  • 5The Board now consists of six independent directors following Dr. Carson's appointment.
  • 6Dr. Carson brings significant experience from his role as the former Secretary of the U.S. Department of Housing and Urban Development (HUD).
  • 7Dr. Carson was granted 2,720 restricted stock units vesting over 5 years as part of his appointment.

Frequently Asked Questions

The 8-K filing references a press release (Exhibit 99.1) that contains the company's financial results for the second quarter ended March 31, 2021. Investors should review this press release for specific revenue, profit, and other financial performance metrics.

Dr. Carson's appointment to the Board of Directors brings a wealth of experience in housing and public policy, particularly from his time as HUD Secretary. His expertise is expected to be valuable to D.R. Horton, and his addition increases the number of independent directors on the board.

Dr. Carson is eligible to receive compensation for his services as a non-employee director, as outlined in the company's proxy statement. Additionally, he was granted 2,720 restricted stock units that will vest equally over a five-year period.

The filing states that there are no arrangements or understandings between Dr. Carson and any other person regarding his appointment. Furthermore, there are no reportable transactions or relationships between Dr. Carson and D.R. Horton, Inc. or its subsidiaries.