PULTEGROUP, INC. (NYSE:PHM) 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 March 21, 2019, PulteGroup, Inc. (the “Company”) issued a press release announcing that John J. Chadwick has been promoted to Executive Vice President and Chief Operating Officer of the Company effective April 1, 2019 upon the previously reported retirement of Harmon D. Smith. Mr. Chadwick, who is 57 years of age, was appointed the Company’s Area President, West in January 2012 and previously held Division and Area leadership positions in the Company’s Arizona operations since January 2003.
Mr. Chadwick’s annual base salary has increased to $600,000, his annual incentive bonus target has increased to $600,000, and his long-term incentive bonus target has increased to $1,300,000. In addition, the Compensation and Management Development Committee (the “Compensation Committee”) of the Board of Directors of the Company approved an award to Mr. Chadwick under the Company’s 2013 Stock Incentive Plan (the “Plan”) of restricted stock units valued at $387,500 on the grant date, which will vest in their entirety on the third anniversary of the grant date. The Compensation Committee also approved an additional long-term incentive award to Mr. Chadwick of $387,500 for the 2019-2021 performance cycle to the Company’s Long-Term Incentive Program under the Plan.
There are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Chadwick and any of the Company’s directors, executive officers, or persons nominated or chosen by the Company to become a director or executive officer. There is no arrangement or understanding between Mr. Chadwick and any other person to which Mr. Chadwick was appointed to his position. There are no transactions in which Mr. Chadwick has an interest requiring disclosure under Item 404(a) of Regulation S-K.
The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
PULTEGROUP INC/MI/ Exhibit
EX-99.1 2 pressreleasecooannouncemen.htm COO PRESS RELEASE Exhibit FOR IMMEDIATE RELEASE Company Contact: James Zeumer 404-978-6434 [email protected] PROMOTES JOHN CHADWICK TO CHIEF OPERATING OFFICERATLANTA,…
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About PULTEGROUP, INC. (NYSE:PHM)
PulteGroup, Inc. is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments. The Company’s homebuilding business, includes the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on that land. The Company’s brands include Pulte Homes, Del Webb and Centex. The Company, through its brands, offer a range of home designs, including single-family detached, townhouses, condominiums and duplexes. Its Homebuilding Operations segment operates through six geographical segments: Northeast, Southeast, Florida, Midwest, Texas and West. The Company conducts its Financial Services operations, which includes mortgage and title operations, through Pulte Mortgage LLC and other subsidiaries.