Company: INVH
Filing Date: 2025-02-25
Form Type: 8-K
Source: 0001193125-25-035235
Chunk: 4

Company: Invitation Homes Inc.
Filing Date: 2025-02-25
Form: 8-K
Item: Item 5.02
Chunk 4
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-vesting LTIP RSUs will be reduced to the maximum number of performance-vesting LTIP RSUs that have a dollar value as near as possible to, but not above, the Value Cap, with all performance-vesting LTIP RSUs exceeding the Value Cap being forfeited for no consideration.

In general, performance-vesting LTIP RSUs are earned on the date after the end of the performance period on which the Compensation Committee certifies the extent to which the performance criteria have been achieved (the “ Certification Date”). The performance vesting LTIP RSUs will vest on the Certification Date, subject to the executive’s continued employment through such Certification Date (with certain limited exceptions).

On February 21, 2025, the Compensation Committee approved the grant, effective as of March 1, 2025, of performance-vesting LTIP RSU Awards to the following Company executives in the following dollar amounts, which amounts assume that target level of performance is achieved (with the actual number of shares to be earned based on the actual achievement of the performance criteria described above): Jonathan Olsen - $1,725,000; Charles Young - $3,200,000; Scott Eisen - $2,535,000; and Mark Solls - $1,233,750. The corresponding number of performance-vesting LTIP RSUs will be determined by dividing the dollar amount of the award by the grant date fair value calculated based on the closing price of the Company’s common stock on February 28, 2025, the last trading day on the NYSE prior to the Saturday grant date and a Monte Carlo fair value analysis.

Performance-Vesting LTIP Units

For executives who elected to receive performance-vesting LTIP Units for the LTIP, such LTIP Units may be earned based on the achievement of the same performance and other conditions, including the TSR Modifier and the Value Cap, as apply to the performance-vesting LTIP RSUs. Under the terms of the LTIP Unit Agreement, each executive is eligible to earn performance-vesting LTIP Units based on the same performance criteria and payout structure as the performance-vesting LTIP RSUs. Once actual achievement of the performance criteria is determined at the end of the performance period, the number of earned performance-vesting LTIP Units is subject to the same TSR Modifier and Value Cap provisions as the performance-vesting LTIP RSUs.

In general, performance-vesting LTIP Units are earned on the date after the Certification