Company: INVH
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049911
Chunk: 70

Company: Invitation Homes Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 70
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 the Company’s three-year absolute TSR is negative |

#### 2025 Proxy Statement61
Executive Compensation—Compensation Discussion and Analysis For each individual award, 75% of the 2024 LTIP RSUs at target are based on performance. 45% are tied to the TSR Relative to RMS Index CAGR (with a cap at target if the Company’s absolute TSR is negative), and 30% are tied to the Company’s Same Store NOI Growth CAGR. The Compensation and Management Development Committee set goals which are reasonably achievable but challenging.

| Performance-Based RSUs       | 3-Year Relative TSR vs. MSCI US REIT Index                 | Payout Levels Threshold (50%)Target (100%)Maximum (200%) | Hurdles -600 bps+50 bps+600 bps |
| 3-Year Same-Store NOI Growth | Payout Levels Threshold (50%) Target (100%) Maximum (200%) | Hurdles 2.5%4.0%5.5%                                     |                                 |
|                              | Vest at the end of the three-year performance period       |                                                          |                                 |
| Time-Based RSUs              | Vest ratably over three years                              |                                                          |                                 |

The performance vesting RSUs under the 2024 LTIP may be earned based on the achievement of performance conditions over a three-year performance period from January 1, 2024 through December 31, 2026. The number of performance vesting RSUs that may be earned will be determined based on performance achieved during the specified performance period. The performance vesting RSUs may be earned based on two performance measures: (1) the TSR Relative to RMS Index CAGR for the performance period; and (2) the Company’s Same Store NOI Growth CAGR. The RMS Index was chosen as a relative index as it captures our performance relative to other REITs that compete with us for investment capital and due to the fact that all of the S&P 500 REITs are included in the index as well. Under the terms of the 2024 LTIP award agreements, each of our NEOs is eligible to earn, in respect of each performance condition, a threshold, target, and maximum number of performance vesting RSUs based on whether the performance criteria are achieved at threshold, target, or maximum levels. The total number of performance vesting RSUs earned with respect to each performance measure is based on an achievement factor which, in each case, ranges from a 0%