Meritage Homes Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$MTH
Homebuilding
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 23, 2026
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(Exact Name of Registrant as Specified in its Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
(Address of Principal Executive Offices, including Zip Code)
(480 ) 515-8100
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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| Emerging growth company | ||||||||||||||||||||
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ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On March 23, 2026, the Executive Compensation Committee of the Board of Directors of Meritage Homes Corporation approved increases in certain components of compensation for Phillippe Lord, Chief Executive Officer, Hilla Sferruzza, Executive Vice President and Chief Financial Officer, Malissia Clinton, Executive Vice President and General Counsel, and Javier Feliciano, Executive Vice President and Chief People Officer, as allowed by each of their respective employment agreements. The compensation for Steven J. Hilton, Executive Chairman, and Austin Woffinden, Executive Vice President, Corporate Operations and Strategy, remains unchanged.
Following is a description of the changes in compensation for each executive. The descriptions contained in this Form 8-K are qualified in their entirety by the terms of the actual notices filed herewith as exhibits to this Form 8-K and incorporated by reference herein.
Performance-Based Cash Incentive and Equity (Non-Cash) Compensation
The target annual cash incentive bonus and target value of equity compensation (non-cash) increased effective January 1, 2026 to the amounts noted below.
| Executive Officer | Revised Annual Target Cash Incentive Compensation | |||||||
| Phillippe Lord | $4,000,000 | |||||||
| Hilla Sferruzza | $1,600,000 | |||||||
| Malissia Clinton | $756,000 | |||||||
| Javier Feliciano | $412,000 | |||||||
| Executive Officer | Revised Annual Target (non-cash) Equity Incentive Compensation (1) (2) | |||||||
| Phillippe Lord | $6,000,000 | |||||||
| Javier Feliciano | $901,250 | |||||||
(1) Approximately 50% of the award value is to be comprised of time-based restricted stock units and approximately 50% of the award value is to be comprised of performance-based share awards.
(2) The performance-based portion of the 2026 equity incentive awards will have two performance metrics, targeted adjusted return on equity and three-year relative total shareholder return relative to our peer group, which are weighted 70% and 30%, respectively.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit Number | Description | ||||
| 10.1 | |||||
| 10.2 | |||||
| 10.3 | |||||
| 10.4 | |||||
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. | ||||
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.
Dated: March 26, 2026
| MERITAGE HOMES CORPORATION | |||||
| /s/ | Javier Feliciano | ||||
| By: | Javier Feliciano | ||||
| Executive Vice President and Chief People Officer | |||||