UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
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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. |
Effective as of March 1, 2025, the Board of Directors (the “Board”) of Taylor Morrison Home Corporation (the “Company”), on the recommendation of its Nominating and Governance Committee (the “Nominating Committee”), appointed Heather Ostis as an independent member of the Board to serve as a director until the Company’s annual meeting of stockholders to be held in 2025 and until her successor has been duly elected and qualified, or until her earlier death, resignation, retirement, disqualification or removal.
Ms. Ostis, age 46, has been the Chief Procurement Officer, Global Supply Chain for Starbucks since January 2024. Prior to joining Starbucks, Ms. Ostis served as the Vice President of Supply Chain Management at Delta Air Lines from August 2018 until January 2024. Ms. Ostis joined Delta from Aramark, where she served as their Vice President of Global Procurement and Supply Chain. Prior to Aramark, Ms. Ostis led the global consolidation of the Wyndham Worldwide Supply Chain. Ms. Ostis has a B.S. in finance from Indiana University and an MBA from George Mason University.
Under the Company’s annual compensation program for eligible directors, Ms. Ostis will be entitled to receive the Company’s standard compensation provided to all the Company’s independent directors for service on the Board (currently an $85,000 annual cash retainer and an annual equity award with a grant date fair value of $175,000 and payable in the form of restricted stock units (“RSUs”)). Ms. Ostis will also be entitled to participate in the Taylor Morrison Home Corporation Non-Employee Deferred Compensation Plan (the “Director Plan”). The material terms of the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan, as amended and restated (the “Incentive Plan”), the RSUs, the Director Plan and the deferred stock units issued under the Director Plan are the same as those described in the Company’s definitive Proxy Statement on Schedule 14A filed with the SEC on April 10, 2024 and as provided in the Incentive Plan, the form of RSU award agreement, the Director Plan and the form of deferred stock unit agreement, each as previously filed with the SEC.
Ms. Ostis has also entered into the Company’s customary indemnification agreement for directors and officers.
| Item 7.01. | Regulation FD Disclosure. |
On February 4, 2025, the Company issued a press release announcing the appointment of Ms. Ostis to the Board. A copy of the Company’s press release is attached as Exhibit 99.1 to this report.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. |
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| 99.1 | Press release issued February 4, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
Signature
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.
| Taylor Morrison Home Corporation | ||
| By: | /s/ Darrell C. Sherman | |
| Name: | Darrell C. Sherman | |
| Title: | Executive Vice President, Chief Legal Officer and Secretary | |
Date: February 4, 2025