M.D.C. Holdings, Inc. (NYSE:MDC) 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
The Compensation Committee determined that Mr. Martin’s base salary would increase to $720,000 annually and Mr. Touff’s salary would increase to $450,000 annually.
About M.D.C. Holdings, Inc. (NYSE:MDC)
M.D.C. Holdings, Inc. is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. Its homebuilding operations consists of homebuilding divisions that the Company considers to be its operating segments. Its financial services operations consists of HomeAmerican Mortgage Corporation (HomeAmerican), Allegiant Insurance Company, Inc., StarAmerican Insurance Ltd., and American Home Insurance Agency, Inc. The Company’s operating segments include West (includes operating segments located in Arizona, California, Nevada and Washington); Mountain (includes operating segments located in Colorado and Utah), and East (includes operating segments located in Virginia, Florida and Maryland).