Company: LGIH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001580670-25-000028
Chunk: 59

Company: LGI Homes, Inc.
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 59
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111.94 stock price (the closing stock price of our common stock on the March 8, 2024 grant date).

The 2024 LTI RSU and PSU grants to our NEOs were approved by the Compensation Committee under our stockholder approved 2013 Incentive Plan. The RSU grant agreements provide for three-year cliff vesting. The 2024 PSU award agreements provide for cliff vesting at the conclusion of the three-year performance period if threshold performance levels are achieved.

Under the terms of the Annual Bonus Plan and the 2013 Incentive Plan, the Compensation Committee has unilateral discretion and authority to eliminate or reduce, or increase, any award that would otherwise be payabl e to a participant in recognition of unusual or non-recurring events affecting the Company or its financial statements, or otherwise. Existing executive equity ownership levels are not generally a factor in the Compensation Committee’s granting of PSUs and RSUs.

The Compensation Committee has not usedannual awards of stock options as an element of employee compensation for our NEOs. We therefore (i) do not grant, and have not granted, stock options in anticipation of the releaseof material nonpublic information, (ii) we do not time, and have not timed, the release of material nonpublic information based on stock option grant dates or for the purpose of affecting the value of executive compensation and (iii) we do not take, and have not taken, material nonpublic information into account when determining the timing and terms of stock options. As stock options have not been an element of compensation, we do not have a formal policy with respect to the timing of stock option grants, and we did not grant stock options or stock appreciation rights in 2024

#### PSUs
The 2024 PSU awards provide the opportunity for participants to receive shares of our common stock based on the attainment of pre-established financial performance targets based on our cumulative Basic EPS amount over the three-year performance period 2024 - 2026. Each PSU granted to participants represents the right to receive one share of our common stock, but the ultimate number of shares of our common stock to be earned with respect to a participant’s PSUs will be determined at the end of the performance period depending on actual results as compared to the target performance metrics. Payouts could range from 0% to 200% of the target number of PSUs offered to the participant, depending on the cumulative Basic EPS as compared to target Basic EPS for the performance period.

The terms of the PSUs provide