Summary
Horton D.R. Inc. (DHI) has filed an 8-K report on November 3, 2023, detailing the fiscal year 2024 compensation for its Chairman of the Board and Strategic Advisor, Donald R. Horton. The compensation package is designed to incentivize continued strategic guidance and leadership for the upcoming fiscal year, which ends on September 30, 2024. Key components of Mr. Horton's compensation include a substantial cash payment and a significant award of Restricted Stock Units (RSUs). This structure aims to align Mr. Horton's interests with those of the shareholders by tying a portion of his compensation to the company's stock performance. The RSUs will vest over a three-year period, promoting long-term commitment and value creation. Investors should note the details of this executive compensation as it represents a material aspect of the company's operational and financial planning for fiscal 2024.
Key Highlights
- 1Donald R. Horton, Chairman of the Board and Strategic Advisor, will receive specific compensation for fiscal year 2024.
- 2Annual strategic advisor fee approved by the Compensation Committee on October 31, 2023.
- 3Total compensation includes $3,875,000 in cash.
- 4Total compensation includes $11,625,000 in Restricted Stock Units (RSUs).
- 5RSU grant value is based on the closing stock price on November 8, 2023.
- 6RSUs will vest ratably over a three-year period.
- 7Details of the compensation arrangement are incorporated by reference via Exhibit 10.1.