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Allan P. Merrill

Chairman, President, and Chief Executive Officer at BEAZER HOMES USA
Board
Since June 2011
Age
58 years
Education
Graduated from the University of Pennsylvania’s Wharton School with a Bachelor of Science degree in Economics.
Tenure
Joined BZH in May 2007 as Executive Vice President and Chief Financial Officer, was promoted to President and Chief Executive Officer in June 2011, and elected Chairman in November 2019.

Also at BEAZER HOMES USA

DIG
David I. Goldberg
Senior Vice President and Chief Financial Officer
MAD
Michael A. Dunn
Senior Vice President, General Counsel, Compliance Officer, and Corporate Secretary

About

Allan P. Merrill is a seasoned executive with extensive experience in finance, investment banking, and corporate strategy. Currently 58 years old, he holds a Bachelor of Science in Economics from the University of Pennsylvania’s Wharton School.

He began his distinguished career in investment banking before transitioning to corporate roles, joining BZH in May 2007 as Executive Vice President and Chief Financial Officer. His leadership was soon recognized with his promotion to President and Chief Executive Officer in June 2011, and later he was elected Chairman in November 2019.

Beyond his role at BZH, Merrill has contributed significantly to the industry through board memberships and advisory roles, leveraging his expertise to drive strategic development both within and outside the company.

$BZH Performance Under Allan P. Merrill

Past Roles

OrganizationRoleDate RangeDetails
Beazer Homes USA, Inc. President and Chief Executive Officer June 2011 - November 2019 Promoted to Chairman
Beazer Homes USA, Inc. Executive Vice President and Chief Financial Officer May 2007 - June 2011 N/A
Move, Inc. Executive Vice President, Corporate Development and Strategy; First President of Homebuilder.com Immediately prior to May 2007 N/A
UBS / Dillon, Read & Co. Co-head of the Global Resources Group 1987 - 2000 Advised on Beazer Homes IPO and acquisitions

External Roles

OrganizationRoleDate RangeDetails
Federal Home Loan Mortgage Corporation (Freddie Mac) Director Since September 2020 - Present N/A
Joint Center for Housing Studies at Harvard University Policy Advisory Board Member N/A Advisory role

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,030,000 AnnuallyFixed annual salary
Deferred Compensation$100,000 As specifiedContributions under the deferred compensation plan
401(k) Company Match$7,131 As specifiedCompany match for 401(k) contributions
Other$5,142 As incurredAdditional fixed compensation component

Performance Compensation

Data from  FY 2024

Performance-Based Cash Award

MetricValueDetails
Grant Date11/20/2023 Award granted on November 20, 2023
Threshold$1,158,750 Minimum performance level required
Target$2,317,500 225% of base salary
Maximum$4,635,000 Cap on bonus opportunity
Payout$1,396,655 (60.3% of target) Actual 2024 payout based on performance results
Performance Metrics60% Bonus Plan EBITDA; 40% other objectives Metrics include operational EBITDA and additional financial/operational objectives

Stock Awards & Vesting

MetricValueDetails
Award TypePerformance Shares & Restricted StockComprises performance-based and time-based components
Grant Date11/20/2023 Award granted on November 20, 2023
Performance Shares Target34,771 shares Target share count based on performance
Performance Shares Maximum79,104 shares Maximum shares available with superior performance
Grant Date Fair Value (PS)$997,580 Fair value of performance shares
Vesting (Performance Shares)End of 3-year period (2024-2026) Vesting contingent on achieving multi-year performance goals
Restricted Stock Shares36,027 shares Time-based restricted stock awarded
Vesting (Restricted Stock)Ratably over 3 years starting from 1st anniversary Vesting schedule for restricted stock component
TSR Modifier+/- 30% Potential adjustment based on relative TSR performance
Long-Term Incentive Mix40% cash, 30% performance shares, 30% restricted stock Overall mix for the long-term incentive opportunity (300% of base salary)