Company: INVH
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049911
Chunk: 77

Company: Invitation Homes Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 77
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atement of the Company’s financial results. Outperformance Equity-Based Awards The Compensation and Management Development Committee designed our outperformance program as a way to align executive pay with stockholder interests and to pay our executives at market rates. Awards under our outperformance program are 100% tied to rigorous performance metrics and provide an incentive to achieve significant long-term, absolute and relative stock performance. Based on feedback we received from stockholders, suggesting that achieving market-level executive compensation could be accomplished through an increase in the LTIP component of our compensation program, the Compensation and Management Development Committee agreed that awards under our annual LTIP program represent a more direct method of aligning our total executive compensation with stockholder interests and market rates than outperformance awards. With this in mind, we did not make supplementary outperformance awards in 2024, and do not anticipate utilizing such awards in the future. Below is a description of the outperformance awards granted in 2019 and 2022. 2019 Outperformance Program In May 2019, the Compensation and Management Development Committee approved an outperformance program (the “2019 Outperformance Program”) and granted equity-based awards to select key associates starting at a vice-president level and above, including our NEOs. Messrs. Tanner, Young, and Solls’ awards were granted in the form of a class of units (collectively referred to as “OP Units”) of the Company’s operating partnership, Invitation Homes Operating Partnership LP (the “Operating Partnership”), issued under our Omnibus Incentive Plan, convertible into common units of the Operating Partnership (and ultimately into shares of our common stock at the NEOs’ election on a one-for-one basis), following vesting (upon achievement of specific performance objectives). Mr. Olsen’s 2019 Outperformance Program awards were granted in the form of RSUs. Mr. Eisen did not receive a 2019 Outperformance Program award, because he was hired following the completion of the 2019 Outperformance Program performance period. The key terms of the 2019 Outperformance Program were as follows: • Performance Metrics: Maximum awards require achieving a cumulative TSR of 42% and outperforming the FTSE Nareit Residential Index by 50% over the three-year performance period (April 1, 2022 – March 31, 2025). • Vesting Schedule: Awards are fully vested as of March 31, 2024. They vested in three stages — 50% upon certification of performance, within 60 days of the performance