Form 8-K - Current report

0000795266false2024-09-2500007952662024-09-252024-09-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report: September 25, 2024

(Date of earliest event reported) 

KB HOME

(Exact name of registrant as specified in its charter)

Delaware

1-9195

95-3666267

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

10990 Wilshire Boulevard

Los Angeles, California 90024

(Address of principal executive offices) (Zip Code) 

Registrant’s telephone number, including area code: [phone]

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock (par value $1.00 per share)			KBH			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Chief Financial Officer Retirement. On September 25, 2024, Jeff J. Kaminski notified KB Home of his intention to retire as Executive Vice President and Chief Financial Officer in early 2025, after more than 14 years of service. Mr. Kaminski will continue to serve as Chief Financial Officer through the filing of KB Home’s 2024 Annual Report on Form 10-K and plans to assist the Company with the transition of his position.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.						Description
99.1						Press release dated September 30, 2024 announcing Jeff J. Kaminski’s retirement as Executive Vice President and Chief Financial Officer.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

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EXHIBIT INDEX

Exhibit No.						Description
99.1						Press release dated September 30, 2024 announcing Jeff J. Kaminski’s retirement as Executive Vice President and Chief Financial Officer.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 30, 2024

 

						KB Home
						By:			/s/ William A. (Tony) Richelieu
									William A. (Tony) Richelieu
									Vice President, Corporate Secretary and Associate General Counsel

 

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Exhibit 99.1

FOR IMMEDIATE RELEASE						For Further Information:
						Jill Peters, Investor Relations Contact
						[phone] or [e-mail]
						Cara Kane, Media Contact
						[phone] or [e-mail]

KB HOME CHIEF FINANCIAL OFFICER TO RETIRE IN EARLY 2025

LOS ANGELES – (September 30, 2024) – KB Home (NYSE: KBH), one of the largest and most trusted homebuilders in the U.S., today announced that Jeff J. Kaminski, its Executive Vice President and Chief Financial Officer, has decided to retire in early 2025 after more than 14 years in that position. Mr. Kaminski will continue to serve as Chief Financial Officer through the filing of KB Home’s 2024 Annual Report on Form 10-K and plans to assist the Company with the transition of his position. KB Home is following its succession planning process to identify its next chief financial officer.

“It is a true privilege to recognize and thank Jeff on behalf of our team and our board of directors for his considerable contributions to KB Home since he joined us in 2010,” said Jeffrey Mezger, Chairman and Chief Executive Officer. “Jeff has played a critical role in improving the financial structure of our business, particularly in architecting and driving the execution of our returns-focused growth strategy over the past eight years. Through his dedicated efforts, our balance sheet is strong, with a low debt-to-capital ratio and substantial cash generation, helping to produce significant stockholder returns and position our company for growth. He has also overseen the development of a deep and capable finance and accounting team and a robust system of internal control over financial reporting. And, on a personal level, I have greatly appreciated Jeff’s partnership as a leader at KB Home and wish him the best in his retirement,” concluded Mezger.

“I am incredibly grateful to have been a part of this venerable company and see its growth over the past 14 years,” said Kaminski. “It’s been the highlight of my career working with such a terrific team, successfully developing communities and delivering the American Dream to thousands of our homebuyers while also enhancing stockholder value. KB Home is a special place, with a unique business model and culture, and I am confident it will continue to stand out as a leading national homebuilder in the years to come.”

About KB Home

KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 47 markets, have built over 680,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional homebuying experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit kbhome.com.

Cover	Sep. 25, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Sep. 25, 2024
Entity Registrant Name	KB HOME
Entity Incorporation, State or Country Code	DE
Entity File Number	1-9195
Entity Tax Identification Number	95-3666267
Entity Address, Address Line One	10990 Wilshire Boulevard
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90024
City Area Code	310
Local Phone Number	231-4000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Document Information [Line Items]
Title of 12(b) Security	Common Stock (par value $1.00 per share)
Trading Symbol	KBH
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0000795266
Amendment Flag	false
Document Type	8-K
Document Period End Date	Sep. 25, 2024
Entity Registrant Name	KB HOME
Entity Incorporation, State or Country Code	DE
Entity File Number	1-9195
Entity Tax Identification Number	95-3666267
Entity Address, Address Line One	10990 Wilshire Boulevard
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90024
City Area Code	310
Local Phone Number	231-4000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false

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