Share Name | Share Symbol | Market | Type |
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Taylor Morrison Home Holding Company | NYSE:TMHC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 61.26 | 455 | 12:48:37 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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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:
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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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. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 12, 2024, William Lyon, a member of the Board of Directors (the “Board”) of Taylor Morrison Home Corporation (the “Company”), notified the Company of his decision to retire from the Board, effective November 30, 2024. Mr. Lyon’s decision to retire was not due to any disagreement between Mr. Lyon and the Company on any matter relating to the operations, policies or practices of the Company. The Company acknowledges the outstanding service rendered by Mr. Lyon during his tenure on the Board and wishes him continued success in the future.
Effective as of December 1, 2024, the Board, on the recommendation of its Nominating and Governance Committee (the “Nominating Committee”), appointed Fletcher Previn as an independent member of the Board to serve as a director until the Company’s annual meeting of stockholders to be held in 2025 and until his successor has been duly elected and qualified, or until his earlier death, resignation, retirement, disqualification or removal.
Mr. Previn, age 50, has been the SVP & Chief Information Officer for Cisco since September 2022 and is an executive sponsor for Cisco’s work with various U.S. government agencies. Prior to that, Mr. Previn served as SVP & Chief Digital Officer for Cisco from March 2021 until September 2022. Prior to joining Cisco, Mr. Previn worked for IBM for over 15 years in multiple positions, most recently serving as Global Chief Information Officer from May 2017 until March 2021. Ms. Previn has a B.A. in political science from Connecticut College.
Under the Company’s annual compensation program for eligible directors, Mr. Previn will be entitled to receive the Company’s standard compensation provided to all the Company’s independent directors for service on the Board (currently an $85,000 annual cash retainer and an annual equity award with a grant date fair value of $175,000 and payable in the form of restricted stock units (“RSUs”)). Mr. Previn will also be entitled to participate in the Taylor Morrison Home Corporation Non-Employee Deferred Compensation Plan (the “Director Plan”). The material terms of the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan, as amended and restated (the “Incentive Plan”), the RSUs, the Director Plan and the deferred stock units issued under the Director Plan are the same as those described in the Company’s definitive Proxy Statement on Schedule 14A filed with the SEC on April 10, 2024 and as provided in the Incentive Plan, the form of RSU award agreement, the Director Plan and the form of deferred stock unit agreement, each as previously filed with the SEC.
Mr. Previn has also entered into the Company’s customary indemnification agreement for directors and officers.
Item 7.01. Regulation FD Disclosure.
On November 12, 2024, the Company issued a press release announcing the changes in the Board. A copy of the Company’s press release is attached as Exhibit 99.1 to this report.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit No. |
||
99.1 | Press release issued November 12, 2024 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Signature
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.
Taylor Morrison Home Corporation | ||
By: | /s/ Darrell C. Sherman | |
Name: | Darrell C. Sherman | |
Title: | Executive Vice President, Chief Legal Officer and Secretary |
Date: November 12, 2024
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT:
media@taylormorrison.com
Cisco Executive to Join Taylor Morrison Board of Directors
Fletcher Previn strengthens homebuilder’s board with data security experience while company appoints second cohort of board fellows
SCOTTSDALE, Ariz., Nov. 12, 2024 – Taylor Morrison (NYSE: TMHC), a national homebuilder and land developer, has appointed Fletcher Previn to its Board of Directors effective Dec. 1. Additionally, William H. Lyon, who joined the board upon the Company’s acquisition of William Lyon Homes in 2020, is retiring at the end of November.
“Mr. Lyon’s impact on our company’s growth trajectory and evolution followed by his continued dedication as a member of our board for the last four years is deeply appreciated,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “I will always be grateful for the trust Mr. Lyon and the family placed in Taylor Morrison to continue the legacy General William Lyon had in our industry and with homeowners for more than 60 years.”
“As we look to the next evolution of our board, we feel privileged to draw upon Mr. Previn’s experience in information technology and cybersecurity—critical areas to the homebuilding process that will ultimately help us better serve our future homebuyers,” added Ms. Palmer.
Mr. Previn’s deep tenure in driving information technology simplification and secure IT infrastructures at scale will bring critical perspective to Taylor Morrison’s operations. He currently serves as chief information officer for Cisco, with previous roles held at IBM and Walmart throughout his 20+ years of experience.
“I have long been a believer in the resounding impact agile and simplified IT infrastructures can have on the employee and customer experience, and a company’s overall business transformation strategy,” said Mr. Previn. “Taylor Morrison is at a pivotal point in its maturation and the opportunity to leverage technology to continue creating a successful, scalable business is exciting.”
Taylor Morrison’s Board Fellowship Program
Additionally, Citigroup Managing Director Anissa Dhouibi and Executive Coach and HR Consultant Analiza Wolf will serve as Taylor Morrison’s second cohort of board fellows as part of the homebuilder’s Board Fellowship Program.
Established in 2022, Taylor Morrison’s Board Fellowship Program provides underrepresented senior business leaders real world insights into the operation of a Fortune 500 company board that is expected to enhance their potential for securing formal director appointments at public companies
in the future. The program has the added benefit of bringing more diverse experiences and perspectives to Taylor Morrison’s board.
Ms. Dhouibi is a financial services executive whose 19-year tenure includes building, growing and managing global Quantitative Research teams across complex organizations. Currently, she serves as the global head of equities quantitative analysis for Citigroup’s Markets Division. Prior to Citi, Ms. Dhouibi spent 13 years at JP Morgan Chase.
Ms. Wolf has over 25 years of experience leading organizational change across the defense, education, technology and consumer industries. Formerly a non-profit CEO, Ms. Wolf is now an executive coach and HR consultant who supports C-suite leaders at startups to Fortune 500s. Author of The Myths of Success: A Woman of Color’s Guide to Leadership, she also teaches Talent Development as an Adjunct Professor at NYU Wagner School.
Ms. Dhouibi and Ms. Wolf will begin their program in December 2024 and are succeeding Taylor Morrison’s first cohort of board fellows, Hannah Choi Granade and Michelle Sourie Robinson, who completed their 18-month term in August.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted® Builder by Lifestory Research. Our strong commitment to sustainability, our communities and our team is highlighted in our latest annual Sustainability and Belonging Report. For more information about Taylor Morrison, please visit www.taylormorrison.com.
Document and Entity Information |
Nov. 12, 2024 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | Taylor Morrison Home Corp |
Amendment Flag | false |
Entity Central Index Key | 0001562476 |
Document Type | 8-K |
Document Period End Date | Nov. 12, 2024 |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-35873 |
Entity Tax Identification Number | 83-2026677 |
Entity Address, Address Line One | 4900 N. Scottsdale Road |
Entity Address, Address Line Two | Suite 2000 |
Entity Address, City or Town | Scottsdale |
Entity Address, State or Province | AZ |
Entity Address, Postal Zip Code | 85251 |
City Area Code | (480) |
Local Phone Number | 840-8100 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, $0.00001 par value |
Trading Symbol | TMHC |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
1 Year Taylor Morrison Home Chart |
1 Month Taylor Morrison Home Chart |
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