NVR, Inc. (NYSE:NVR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 3, 2018, the Board of Directors of NVR, Inc. (the “Company”) appointed Alexandra A. Jung to the Board of Directors. Ms.Jung's term as director will continue until the 2019 Annual Meeting of Shareholders and until her successor is duly elected and qualified. The Board of Directors has determined that Ms.Jung is “independent” under the listing standards of the New York Stock Exchange. At this time, Ms. Jung will not be appointed to any Board committees.
Ms.Jung's compensation as a non-employee director will be consistent with that provided to all Company non-employee directors. In addition, Ms.Jung received a grant of 1,130 non-qualified stock options under the NVR, Inc. 2018 Equity Incentive Plan to purchase NVR, Inc. common stock, and the terms of such grant are consistent with the grants to all Company non-employee directors. The stock options were issued utilizing the forms of agreement filed as Exhibits 10.2 and 10.4 to our Form 8-K filed on May14, 2018.
A copy of the press release announcing Ms.Jung’s appointment is attached as Exhibit 99.1 hereto and incorporated herein by reference.
NVR INC ExhibitEX-99.1 2 exhibit991_jung.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NVR,…To view the full exhibit click here
About NVR, Inc. (NYSE:NVR)
NVR, Inc. is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company also operates a mortgage banking and title services business. The Company’s mortgage banking operations are operated primarily through a subsidiary, NVR Mortgage Finance, Inc. (NVRM). The Company operates in multiple locations in approximately 14 states and Washington, D.C., primarily in the eastern part of the United States. Its homebuilding business operates under four trade names, such as Ryan Homes, NVHomes, Fox Ridge Homes and Heartland Homes. The Ryan Homes and Fox Ridge Homes products are marketed primarily to first-time and first-time move-up buyers. The NVHomes and Heartland Homes products are marketed primarily to move-up and up-scale buyers. The Company’s homes combine traditional, transitional, cottage or urban exterior designs with interior designs and amenities, which include 2 to 4 bedrooms and range from 1,000 to 7,000 square feet.
