Company: SDHC
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001982518-25-000012
Chunk: 34

Company: Smith Douglas Homes Corp.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 34
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 of Company net income targets (weighted 60%), Company operational goals (weighted 30%), and a discretionary component to be determined by the compensation committee (weighted 10%).

Mr. Bradbury . Under the AIP, Mr. Bradbury was eligible to receive up to 100% of his AIP target, determined at the discretion of our board directors.

With respect to 2024, Messrs. Bennett, Bradbury, and Devendorf earned annual cash incentive bonuses equal to $5,279,670, $250,000, and $879,945, respectively. The annual incentive amounts for each named executive officer are reflected above in the “Non-Equity Incentive Plan Compensation” column, or the “Bonus” column with respect to Mr. Bradbury, of the Summary Compensation Table.

Pre-2024 Long-Term Incentives

Mr. Devendorf . In fiscal years prior to 2024, Mr. Devendorf was eligible to earn a long-term cash incentive bonus that was calculated on a sliding scale based on our achievement of Company EBITDA targets.

The long-term incentive cash bonus earned by Mr. Devendorf with respect to each applicable fiscal year was determined by us following the end of the performance period, which was January 1 through December 31 of the applicable fiscal year, and vests and is paid in three substantially equal annual installments on December 31 of each of the immediately following three years, subject to Mr. Devendorf’s continued employment through the applicable payment date. Additionally, Mr. Devendorf’s long-term cash incentive bonus is subject to full vesting acceleration in the event of a change in control or sale of the Company, or Mr. Devendorf’s termination of employment by us without cause or his resignation for good reason.

In connection with our IPO, beginning with fiscal year 2024, Mr. Devendorf is no longer eligible to earn such long-term cash incentive bonuses. However, Mr. Devendorf continues to be eligible to vest in the long-term cash incentive bonuses earned prior to our IPO. The earned long-term cash incentive amounts that vested and were paid to Mr. Devendorf during 2024 (an aggregate of $433,892), which are in respect of his long-term cash incentive bonuses for 2021, 2022, and 2023, are reflected above in the “Non-Equity Incentive Plan Compensation” column of the Summary Compensation Table.

Messrs. Bennett and Bradbury were