11/09/2023 | Press release | Distributed by Public on 11/09/2023 15:16
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 7, 2023, Beazer Homes USA, Inc. (the "Company") announced that Elizabeth Acton and David Spitz will retire from the Company's Board of Directors (the "Board"), effective as of the Company's next annual meeting of stockholders. The decisions by Ms. Acton and Mr. Spitz to retire from the Board were not the result of any disagreement with the Company on any matter regarding the Company's operations, policies or practices.
In connection with Ms. Acton's and Mr. Spitz's retirements from the Board, June Sauvaget and Alyssa Steele have been appointed to the Board, effective as of January 1, 2024. The committee assignments for Mses. Sauvaget and Steele have not been determined at the time of this filing. The Board has determined that Mses. Sauvaget and Steele are "independent" under the New York Stock Exchange listing standards and the Company's Corporate Governance Guidelines.
Mses. Sauvaget and Steele will participate in and receive the same compensation as other non-employeedirectors of the Company under the Company's current non-employeedirector compensation program described in the Company's proxy statement filed with the U.S. Securities and Exchange Commission (the "SEC") on December 21, 2022. In addition, Mses. Sauvaget and Steele will each enter into the Company's standard indemnification agreement, the form of which is attached as Exhibit 10.9 to the Company's Annual Report on Form 10-K,filed with the SEC on November 10, 2022.
There is no arrangement or understanding between either Ms. Sauvaget or Ms. Steele and any other persons pursuant to which Ms. Sauvaget or Ms. Steele were selected as directors. There are no related person transactions within the meaning of Item 404(a) of Regulation S-Kpromulgated by the SEC between the Company and either Ms. Sauvaget or Ms. Steele required to be disclosed herein.