Company: INVH
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049911
Chunk: 65

Company: Invitation Homes Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 65
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Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Measures.” See Part II. Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Measures” in our 2024 Form 10-K for the reconciliation of EBITDA, EBITDA re , and Adjusted EBITDA re to net income (loss) (as determined in accordance with GAAP), the most directly comparable GAAP measure. (3) As more fully described below under “—Outperformance Equity-Based Awards,” our Compensation and Management Development Committee designed our outperformance programs as a way to align executive pay with stockholder interests and to provide an incentive to achieve significant long-term, absolute and relative stock performance. Based on feedback we received from stockholders, the Committee agreed that our annual long-term incentive program represents 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. Our executive compensation program provides significant alignment between pay and performance by linking a meaningful portion of total compensation to the achievement of operational and strategic goals through our short-term incentive program, as well as rigorous relative shareholder return goals through our long-term incentive program.

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Executive Compensation—Compensation Discussion and Analysis In 2024, approximately 91% of our CEO’s total target compensation and approximately 81% of our other NEOs’ total target compensation was at-risk and not guaranteed and 9% and 19%, respectively, was fixed (base salary). To build even stronger pay-for-performance alignment with our stockholders, long-term incentive awards are predominantly “at-risk” performance-based equity awards, the ultimate value of which depends entirely on the Company’s future relative total shareholder return and three-year Same Store NOI growth. The following diagrams present the allocation of total pay among different components of our executive compensation program for our CEO and the weighted average of each component for our other NEOs as a group. Base Salary Base salary compensates our NEOs for performing the requirements of their positions and provides them with a level of cash income predictability and stability with respect to a portion of their total compensation. The Compensation and Management Development Committee believes that base salaries for our NEOs should reflect market-competitive levels of pay and factors unique to each executive such as experience and breadth of responsibilities, performance, individual skill set, time in the role,