WCI Communities, Inc. (NYSE:WCIC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(e) Keith E. Bass, our President and Chief Executive Officer, is
currently eligible to receive an annual bonus as a participant of
the 2016 Management Incentive Compensation Plan (the 2016 MICP)
of WCI Communities, Inc. (the Company), with a target bonus
opportunity of $1,600,000 and a maximum bonus opportunity of
$2,400,000. On December22, 2016, the Company and Mr.Bass entered
into a letter agreement (the Bass Letter Agreement) to which an
initial payment in respect of Mr.Bass 2016 annual bonus equal to
50% of target bonus opportunity, or $1,600,000 (the Initial MICP
Bonus Amount), will be paid to Mr.Bass on or prior to December31,
2016. If, based upon the final determination of Company and
individual performance, Mr.Bass bonus under the 2016 MICP (the
Actual MICP Bonus Amount) is determined to be less than the
Initial MICP Bonus Amount, Mr.Bass will be obligated to repay the
Company the excess of the Initial MICP Bonus Amount over the
Actual MICP Bonus Amount, less all tax withholdings paid by
Mr.Bass with respect to such excess. If, based upon the final
determination of Company and individual performance, the Actual
MICP Bonus Amount exceeds the Initial MICP Bonus Amount, the
Company will pay Mr.Bass such excess, less applicable tax
withholdings, at the same time bonuses are paid to other
participants in the 2016 MICP.

The foregoing description of the Bass Letter Agreement is
qualified in its entirety by reference to the full and complete
terms contained in the Bass Letter Agreement, which is attached
hereto as Exhibit 99.1.

Item9.01Financial Statements and Exhibits

About WCI Communities, Inc. (NYSE:WCIC)

WCI Communities, Inc. is a holding company. The Company is a lifestyle community developer and luxury homebuilder of single- and multi-family homes, including luxury high-rise tower units, in coastal Florida’s markets. The Company’s segments include Homebuilding, Real Estate Services and Amenities. The Homebuilding segment designs, sells and builds single- and multi-family homes and tower units. The Company operates a full-service real estate brokerage business under the Berkshire Hathaway HomeServices brand and title services that complement its Homebuilding operations by providing with additional opportunities to capitalize on increasing home prices throughout Florida. The Company’s Amenities segment primarily includes the construction, ownership and management of recreational amenities in residential communities that it develops. The Company owns or controls approximately 13,300 home sites, of which approximately 7,900 are owned and 5,400 are controlled by the Company.

WCI Communities, Inc. (NYSE:WCIC) Recent Trading Information

WCI Communities, Inc. (NYSE:WCIC) closed its last trading session 00.00 at 23.40 with 230,121 shares trading hands.