J. Scott Dixon
Century CommunitiesAbout J. Scott Dixon
J. Scott Dixon (age 45) is Chief Financial Officer of Century Communities, Inc. (appointed CFO July 22, 2024; interim CFO March 22–July 21, 2024). He joined Century in 2013 and previously served as Assistant CFO (May 2022–Mar 2024), Chief Accounting Officer (Nov 2016–May 2022), and VP of Accounting (Nov 2013–Nov 2016). He holds an M.S. in Accounting (University of Virginia), a B.S. in Finance (University of Denver), and is a CPA. Company 2024 performance: revenue $4.4B (+19% YoY), net income $333.8M (+29% YoY), adjusted EBITDA $573.8M, and book value per share $84.65 (+13% YoY), supporting strong pay-for-performance alignment going into his tenure as CFO .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Century Communities | Chief Financial Officer | Jul 2024–Present | Oversees accounting, finance, capital markets, FP&A; elevated from interim CFO after internal/external search . |
| Century Communities | Interim Chief Financial Officer | Mar 2024–Jul 2024 | Ensured continuity after CFO transition; led finance team during strong 2024 execution . |
| Century Communities | Assistant Chief Financial Officer | May 2022–Mar 2024 | Leadership across SEC reporting and FP&A . |
| Century Communities | Chief Accounting Officer | Nov 2016–May 2022 | Led accounting during growth phase . |
| Century Communities | VP of Accounting | Nov 2013–Nov 2016 | Instrumental to 2014 IPO; built finance infrastructure . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ernst & Young (EY) | Audit and Assurance, most recently Senior Manager | Prior to Nov 2013 | Real estate audit specialization; relevant for homebuilding finance rigor . |
Fixed Compensation
| Metric | 2024 | 2025 | Notes |
|---|---|---|---|
| Base Salary ($) | 650,000 | 650,000 | No 2025 increase for CFO; Co-CEO/Exec Chair adjustments not applicable to Dixon . |
| Salary actually paid in 2024 ($) | 552,778 | — | Partial-year CFO; reflects time in role . |
Performance Compensation
- 2024 Bonus: $1,250,000 cash (paid Feb 2025), of which $500,000 recognized service as interim CFO and $750,000 for promotion/performance; not based on pre-established plan metrics .
- 2025 STI: Dixon will participate in the performance-based STI plan; target $1,000,000 .
2024 Company STI Metrics (context; CFO not a participant in 2024 plan)
| Metric | Weight | Threshold | Target | Maximum | Actual |
|---|---|---|---|---|---|
| Adjusted EBITDA | 60% | $424.9M | $472.1M | $519.3M | $573.8M |
| Revenue | 20% | $3.76B | $4.17B | $4.59B | $4.4B |
| Closings | 20% | 9,644 | 10,716 | 11,788 | 11,007 |
Long-Term Incentives (Dixon)
| Grant Date | Type | Shares Granted (#) | Grant-Date Fair Value ($) | Vesting | Post-Vest Holding |
|---|---|---|---|---|---|
| 02/07/2024 | RSU | 5,825 | 500,018 | 1/3 annually on anniversaries of 02/07/2024, subject to service | Not specified for this grant . |
| 08/01/2024 | RSU | 4,945 | 463,594 | 1/3 annually on anniversaries of 08/01/2024, subject to service | 1-year post-vesting holding on shares issued, subject to exceptions . |
| 02/2025 (for 2024 performance) | RSU | — | — | 1/3 annually (consistent with prior awards) | 1-year post-vesting holding on shares issued, subject to exceptions . |
The Company indicated 2025 LTI target of $1,000,000 for the CFO; Exec Chair/CEO PSUs carry longer holding periods; CFO PSUs (if granted) carry a one-year post-vesting holding period starting with 2025 PSU awards .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of record date) | 7,620 shares; <1% of outstanding (30,651,555 shares outstanding) . |
| Stock Ownership Guidelines | CFO target: 3x base salary; Dixon in compliance at 3.4x; all NEOs in compliance . |
| Retention Requirement | Until guidelines achieved: retain 60% of net shares from vesting; CFO subject to this policy; all NEOs within five-year compliance window . |
| Anti-Hedging/Pledging | Prohibits hedging and pledging of Century securities . |
| Options | None disclosed for CFO; equity is RSUs . |
Unvested RSUs as of 12/31/2024 (valued at $73.36/share)
| Grant Date | Unvested Shares (#) | Market Value ($) | Vesting Structure |
|---|---|---|---|
| 02/09/2022 | 1,609 (incl. 65 DEs) | 118,036 | 1/3 annually on grant anniversaries, subject to service . |
| 02/08/2023 | 4,369 (incl. 110 DEs) | 320,510 | Same . |
| 02/07/2024 | 5,894 (incl. 69 DEs) | 432,384 | Same . |
| 08/01/2024 | 4,973 (incl. 28 DEs) | 364,819 | Same; plus 1-year post-vest holding . |
| Total | 16,573 (plus 272 DEs) | 1,235,749 | Valued at $73.36 (12/31/24 close) . |
Employment Terms
- Agreement type: Standard confidentiality and non-solicitation agreement; no guaranteed base compensation or severance benefits under an employment agreement .
- Severance/Change-in-Control: CFO has no cash severance. Equity:
- If awards are continued/assumed in a change in control: no acceleration for Dixon (RSU vesting remains per schedule) .
- If awards are not continued/assumed: immediate RSU vesting; value estimated at $1,235,749 at $73.36/share as of 12/31/2024 .
- Clawback: Company maintains a clawback policy applicable to executive officers .
- Insider trading: Policy on insider trading filed as exhibit to 10-K; robust governance framework .
Potential Payments Table (as of 12/31/2024)
| Scenario | Severance Pay ($) | Incentive Pay ($) | RSU Acceleration ($) | Other Benefits ($) |
|---|---|---|---|---|
| Termination without Cause/Good Reason (non-CIC) | 0 | 0 | 0 | 0 |
| Change in Control (awards assumed/continued) | 0 | 0 | 0 | 0 |
| Change in Control (awards not assumed/continued) | 0 | 0 | 1,235,749 | 0 |
Director/Governance Context (selected items)
- Compensation Committee uses independent consultant WealthPoint; standard peer benchmarking processes; committee composition listed .
- Best practices include double-trigger CIC equity acceleration (plan-level), no excise tax gross-ups, no option repricing, minimum vesting periods, and no pledging/hedging .
2024 Executive Compensation (Summary Compensation Table excerpt)
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Non-Equity Incentive ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2024 (CFO) | 552,778 | 1,250,000 | 963,612 | 0 | 11,811 | 2,778,201 |
2024 bonus for CFO was outside the plan and not tied to pre-established performance goals, recognizing interim role and promotion .
Investment Implications
- Alignment and retention: Dixon’s equity is entirely in time-vested RSUs with 16,573 unvested units at 12/31/24 and a one-year post-vest holding requirement for August 2024 and February 2025 awards, which moderates near-term sell pressure and aligns incentives with sustained performance . Stock ownership guidelines (3x salary) are met at 3.4x, and anti-hedging/anti-pledging policies further align interests with shareholders .
- Vesting and potential supply: Multiple RSU tranches vest on the first, second, and third anniversaries of 2022–2024 grants; the 2022 grant’s final tranche vests first (Feb 2025), while 2024 grants add tranches through 2027. August 2024 and February 2025 grants have a mandatory one-year post-vesting holding period, tempering immediate liquidity from those tranches .
- Downside/retention risk: Dixon has no cash severance or CIC cash benefits, which can increase retention risk relative to many CFO peers; however, unvested RSUs and ownership/holding policies provide meaningful retention hooks .
- Pay-for-performance: 2024 had strong fundamental delivery (revenue +19%, net income +29%, adjusted EBITDA $573.8M), while Dixon’s 2024 bonus was discretionary due to role transition; starting 2025, his STI and LTI will be performance-linked alongside other NEOs, tightening pay-performance linkage .