On August 7, 2019, Beazer Homes USA, Inc. (the “Company”) announced a comprehensive, long-term board succession plan under which two new independent directors, David Spitz and Chris Winkle, have been elected to the Board of Directors (the “Board”) and three of the Company’s current directors, Brian Beazer, Stephen Zelnak and Peter Leemputte, will not stand for reelection at the Company’s next annual meeting of stockholders.

The decisions by Messrs. Beazer, Zelnak and Leemputte to retire were not the result of any disagreement with the Company on any matter regarding the Company’s operations, policies or practices. Mr. Beazer, the Company’s founder and Chairman Emeritus, has served as a director of the Company since its initial public offering in 1994, while Mr. Zelnak, the current Chairman, and Mr. Leemputte, a former Chairman of the Audit and Compensation Committees, have each served for over 14 years.

Messrs. Spitz and Winkle will serve as independent directors, effective immediately, and have been appointed to the Board’s Compensation Committee and Finance Committee, respectively.

Messrs. Spitz and Winkle will receive the same compensation as other non-employee directors of the Company to the Company\’s director compensation program for non-employee directors, which, for fiscal 2019, will be prorated for the portion of the year served. Accordingly, in connection with their appointment, Messrs. Spitz and Winkle were each granted an award of restricted stock valued at $15,342. Each award vests on the first anniversary of the grant date. A description of the Company\’s non-employee director compensation program may be found under the heading \”Non-Employee Director Compensation\” on pages 14 and 15 of the Company\’s Proxy Statement for its 2019 annual meeting of stockholders held on February 6, 2019, as filed with the Securities and Exchange Commission on December 21, 2018. Messrs. Spitz and Winkle also will enter into the Company\’s standard indemnification agreement for directors.

Item 9.01. Financial Statements and Exhibits.

BEAZER HOMES USA INC Exhibit
EX-99.1 2 exhibit991directorspressre.htm EXHIBIT 99.1 Exhibit BEAZER HOMES ANNOUNCES APPOINTMENT OF TWO NEW DIRECTORS AND RETIREMENT OF THREE DIRECTORSATLANTA,…
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About BEAZER HOMES USA, INC. (NYSE:BZH)

Beazer Homes USA, Inc. is a geographically diversified homebuilder. As of September 30, 2016, the Company had operations in 13 states within over three geographic regions in the United States. The Company’s segments include West, East and Southeast. The Company markets and sells its products through its Website, www.beazer.com; mobile site, m.beazer.com; real estate listing sites, online advertising, including search engine marketing and display advertising, social media, video, brochures, direct marketing and out-of-home advertising, including billboards and signage, as well as other activities. It offers lender choice and personalization. The Company’s Choice Plans allows buyers to choose living areas, such as the kitchen and master bathroom. Its West segment includes Arizona, California, Nevada and Texas. Its East segment includes Indiana, Maryland/Delaware, Tennessee and Virginia. Its Southeast segment includes Florida, Georgia, North Carolina and South Carolina.