Company: INVH
Filing Date: 2025-02-25
Form Type: 8-K
Source: 0001193125-25-035235
Chunk: 0

Company: Invitation Homes Inc.
Filing Date: 2025-02-25
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On February 21, 2025, the Board of Directors (the “ Board”) of Invitation Homes Inc. (the “ Company” or “ Invitation Homes”) promoted Timothy Lobner, the Company’s current Executive Vice President and Head of Field Operations to the role of Executive Vice President and Chief Operating Officer (principal operating officer), effective as of March 2, 2025 (the “ Effective Date”). In connection with this executive leadership update, Charles Young, will continue to serve as the Company’s President, but will cease serving as Chief Operating Officer (principal operating officer) as of the Effective Date.

Prior to this new role, Mr. Lobner, 48, served as the Company’s Executive Vice President and Head of Field Operations since December 2023, overseeing the Company’s property management operations. Prior to that, he was Executive Vice President, Operations Support, since January 2014. He joined Invitation Homes in October 2012. From 2006 to 2012, he worked at Trammell Crow Company, the commercial real estate development subsidiary of CBRE, where he focused on industrial, office, and retail opportunities. Before beginning his real estate career, Mr. Lobner served as a nuclear submarine officer in the United States Navy from 1999 to 2005.

In connection with Mr. Lobner’s appointment as the Company’s Executive Vice President and Chief Operating Officer: (1) as of the Effective Date, his annual base salary will be $500,000; (2) his target annual bonus will be 125% of his annual base salary, with actual payment to be based on the achievement of performance objectives to be set by the Compensation and Management Development Committee of the Board (the “ Compensation Committee”); and (3) his target long-term incentive award will be $1,566,667. On February 21, 2025, the Compensation Committee approved a retention equity award to Mr. Lobner (the “ Retention Award”) in the form of restricted stock units (the “ RSUs”), effective as of March 1, 2025, with a grant date fair value of $2,500,000 under the Invitation Homes Inc. 2017 Omnibus Incentive Plan (the “ Incentive Plan”). The RSUs under the Retention Award are subject to time vesting requirements