Company: INVH
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049911
Chunk: 28

Company: Invitation Homes Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 28
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 Development Committee (Richard D. Bronson, Joseph D. Margolis, John B. Rhea, Janice L. Sears, and Keith D. Taylor) is “independent” for purposes of Section 10C(b) of the Exchange Act. The Board has also affirmatively determined that Kellyn Smith Kenny, whom the Board will vote to appoint to the Audit Committee and the Compensation and Management Development Committee following the Annual Meeting, if elected, is “independent” for purposes of Rule 10A-3 of the Exchange Act and for purposes of Section 10C(b) of the Exchange Act.

Board Structure

Our Articles of Incorporation and our Bylaws provide that our Board will consist of such number of directors as may from time to time be fixed by the Board, but may not be more than 15 or fewer than the minimum number permitted by Maryland law, which is one. Our Corporate Governance Guidelines provide the Board with the flexibility to determine the appropriate leadership structure for the Company. In making leadership structure determinations, the Board considers many factors, including the specific needs of the business and what is in the best interests of the Company’s stockholders.

Our Board is led by our Chairperson, and the Chairperson position is separate from our CEO position. We believe that the separation of the Chairperson and CEO positions is appropriate corporate governance for us at this time. Accordingly, Mr. Fascitelli serves as the Board Chairperson, while Mr. Tanner serves as our CEO. Our Board believes that this structure best encourages the free and open dialogue of competing views and provides for strong checks and balances. Additionally, our Chairperson’s attention to Board and committee matters allows the CEO to focus on the day-to-day management of the business and on executing our strategic priorities. Furthermore, our Corporate Governance Guidelines provide that whenever the Chairperson of the Board is also the CEO or is a director who does not otherwise qualify as an “independent director,” the independent directors may elect from among themselves a Lead Director of the Board, with a term of service and such responsibilities as the Board may designate from time to time.

In addition, independent directors currently chair each of the Board’s four standing committees: the Audit Committee, chaired by Frances Aldrich Sevilla-Sacasa; the Compensation and Management Development Committee, chaired by Keith D. Taylor; the Nominating and Corporate Governance Committee, chaired by Richard D. Bronson; and the Investment and Finance Committee, chaired by Jeffrey E. Kelter. The Board has also affirmatively determined that J