KB Home filed SEC Form 8-K: Results of Operations and Financial Condition, Leadership Update, Financial Statements and Exhibits
$KBH
Homebuilding
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: March 24, 2025
(Date of earliest event reported)
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Item 2.02 Results of Operations and Financial Condition.
On March 24, 2025 , KB Home issued a press release announcing its results of operations for the three months ended February 28, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein.
The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) Principal Financial Officer Appointment. On March 24, 2025, KB Home announced the appointment, effective March 31, 2025, of Robert R. Dillard as its Executive Vice President and Chief Financial Officer. Mr. Dillard, age 50, joins KB Home from Sonoco Products Company, a packaging and industrial products company, where he served as its chief financial officer from June 2022 to January 2025, its chief strategy officer from April to June 2022, and its vice president, strategy and corporate development from when he joined the company in 2018 to March 2022.
With his appointment, Mr. Dillard will receive the following compensation and benefits, subject to the approval of the Management Development and Compensation Committee of KB Home’s Board of Directors:
•an initial base salary of $750,000 per year;
•eligibility to participate in KB Home’s annual incentive program for executive officers for the 2025 fiscal year (with a target opportunity of 140% of his annual base salary and maximum opportunity of three times his annual base salary, prorated based on his start date);
•eligibility to participate in KB Home’s long term incentive program, with a recommended sign-on grant of time-vesting restricted stock valued at $1,000,000, and a recommended annual equity-based grant (to be made with annual grants to other employees later in the year and in the form determined at that time) valued at $1,500,000;
•reimbursement of relocation expenses pursuant to KB Home’s relocation policy;
•eligibility to participate in KB Home’s executive benefits and life insurance programs; Deferred Compensation Plan; 401(k) Savings Plan; Change in Control Severance Plan; and, after one year of employment, Executive Severance Plan.
For descriptions and copies of the plans and policies referenced above, please refer to KB Home’s most recent annual report on Form 10-K and its most recent proxy statement.
There are no arrangements between Mr. Dillard and any other persons pursuant to which he was appointed to serve as KB Home’s Executive Vice President and Chief Financial Officer and no family relationships between Mr. Dillard and any KB Home director or executive officer, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
A copy of the press release announcing Mr. Dillard’s appointment is filed as Exhibit 99.2 to this report and is incorporated herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release dated March 24, 2025 announcing KB Home’s results of operations for the three months ended February 28, 2025.
99.2 Press released dated March 24, 2025 announcing Robert R. Dillard’s appointment as Executive Vice President and Chief Financial Officer.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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EXHIBIT INDEX
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
99.2 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 24, 2025
| KB Home | |||||||||||
| By: | /s/ William A. (Tony) Richelieu | ||||||||||
William A. (Tony) Richelieu | |||||||||||
Vice President, Corporate Secretary and Associate General Counsel | |||||||||||
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