LGI HOMES, INC. (NASDAQ:LGIH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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LGI HOMES, INC. (NASDAQ:LGIH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

LGI HOMES, INC. (NASDAQ:LGIH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 1, 2019, the Board of Directors (the “Board”) of LGI Homes, Inc. (the “Company”), acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board, increased the authorized number of directors on the Board from six directors to seven directors and appointed Laura M. Miller to fill the newly created directorship. Ms.Miller’s term as a director will continue until the 2019 Annual Meeting of Stockholders or until her successor is duly elected and qualified. The Board determined that Ms.Miller is an “independent director” under the relevant NASDAQ rules. At this time, Ms. Miller has not been appointed to any committees of the Board.

Ms. Miller is currently Senior Vice President and Global Chief Information Officer of InterContinental Hotels Group PLC (“IHG”), with responsibilities including the strategy, delivery, operations and security of technology solutions for more than 5,500 hotels and corporate officers around the globe. Ms. Miller has been a member of the IHG senior management team since August 2013 and has held the role of SVP and Global Chief Information Officer since December 2017. Prior to joining IHG, she was Senior Vice President of First Data Corporation and served in various senior leadership capacities at TD Ameritrade, The U.S. Patent and Trademark Office, The Housing Opportunities Commission of Montgomery County, Maryland, and British Aerospace, PLC. Ms. Miller holds a Master’s degree in Computer Science Management from the University of Maryland.

There are no arrangements or understandings between Ms. Miller and any other person to which she was selected as a director. The Company is not aware of any transaction in which Ms. Miller has an interest requiring disclosure under Item404(a) of Regulation S-K.

Ms.Miller’s compensation as a non-employee director is the same as provided to the Company’s other non-employee directors:

Reimbursement for reasonable out-of-pocket expenses incurred for travel in connection with attendance in-person at Board or committee meetings.

Ms.Miller’s $100,000 grant of RSUs will be granted on March 15, 2019 under the Amended and Restated LGI Homes, Inc. 2013 Equity Incentive Plan. The number of RSUs to be granted will be determined by dividing $100,000 by the closing sale price of the Company’s common stock on The NASDAQ Global Select Market on March 15, 2019. Such RSUs will vest annually over a three-year period with one-third vesting on each anniversary of the grant date. The terms of such grant are consistent with RSU grants to the Company’s other non-employee directors.

A copy of the press release announcing Ms.Miller’s appointment is attached hereto as Exhibit 99.1. None of the information furnished in the accompanying Exhibit 99.1 will be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor will it be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended.

Item 5.02

Financial Statements and Exhibits.

LGI Homes, Inc. Exhibit
EX-99.1 2 ex991pressreleasemiller.htm EXHIBIT 99.1 Exhibit Exhibit 99.1LGI Homes,…
To view the full exhibit click here

About LGI HOMES, INC. (NASDAQ:LGIH)

LGI Homes, Inc. is a homebuilder. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company has five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division. The Texas division includes homebuilding operations in Houston, Dallas/Fort Worth, San Antonio and Austin locations. The Southwest division includes homebuilding operations in Phoenix, Tucson, Albuquerque, Denver and Colorado Springs locations. The Southeast division includes homebuilding operations in Atlanta, Charlotte and Nashville locations. The Florida division includes homebuilding operations in Tampa, Orlando, Fort Myers and Jacksonville locations. The Northwest division includes homebuilding operations in Seattle location. Its product offerings include entry-level homes and move-up homes.