Rick Beckwitt
EAGLE MATERIALSAbout Rick Beckwitt
Independent Class III director at Eagle Materials (EXP), age 66, serving since 2014 with 11 years of board tenure; former Co-CEO/CEO/President at Lennar and prior senior roles at D.R. Horton and Lehman Brothers, bringing deep homebuilding, M&A, and corporate finance expertise to EXP’s board . Education: B.A. in Psychology from Claremont McKenna College . He is independent under NYSE and Exchange Act rules; the board expressly reviewed his external roles and found no material relationships impacting independence .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lennar Corporation | Co-Chief Executive Officer & Co-President | 2020–2023 | Led largest U.S. homebuilder through multi-year operating strategy |
| Lennar Corporation | Chief Executive Officer | 2018–2020 | CEO oversight of growth, operations, and capital allocation |
| Lennar Corporation | President | 2011–2018 | Senior operating leadership and strategy execution |
| Lennar Corporation | Executive Vice President | 2006–2011 | Executive management responsibilities |
| EVP Capital, L.P. | Owner & Principal | 2000–2003 | Venture capital and real estate advisory |
| D.R. Horton | Executive officer roles incl. President | 1993–2000 | Leadership at major homebuilder; M&A and operations exposure |
| Lehman Brothers | M&A and Corporate Finance | 1986–1993 | Investment banking, transaction execution |
External Roles
| Organization | Role | Tenure | Notes / Interlocks |
|---|---|---|---|
| Ferguson Enterprises Inc. (NYSE: FERG) | Director | 2024–present | Supplier and customer to EXP’s cement business; board deemed payments immaterial and no material interest for Beckwitt |
| Lennar Corporation (NYSE: LEN) | Director | 2018–2023 | Prior board seat at major customer/peer in building ecosystem |
| Five Point Holdings (NYSE: FPH) | Director | 2016–2020 | Real estate development board experience |
| D.R. Horton (NYSE: DHI) | Director | 1993–2003 | Oversight in large homebuilder; governance experience |
Board Governance
- Class III director; term expires at the 2027 annual meeting .
- Committee roles: Chair, Corporate Governance, Nominating and Sustainability Committee; former Audit Committee member .
- Independence: Board determined he is independent; specifically reviewed his Ferguson directorship and deemed any supplier/customer relationships non-material .
- Attendance: Board held 4 meetings in FY2025; all incumbent directors attended ≥75% of Board and applicable committee meetings; non-employee directors meet in executive session after all Board meetings .
- Governance Committee met 4 times in FY2025; oversees board composition, director selection, evaluations, and sustainability oversight/reporting .
Committee Assignments
| Committee | Role | FY2025 Meetings | Key Oversight |
|---|---|---|---|
| Corporate Governance, Nominating & Sustainability | Chair | 4 | Board composition, governance guidelines, annual board/committee effectiveness, sustainability reporting and risk |
| Audit | Former Member | 7 | Financial reporting integrity, auditor oversight, risk incl. cybersecurity (board-wide attends) |
Fixed Compensation (Director)
| Component (FY2025) | Amount (USD) | Detail |
|---|---|---|
| Cash Fees | $0 | Elected 100% equity compensation |
| Stock Awards (restricted stock) | $287,936 | Includes Governance Chair fee taken in equity; chairs receive $20,000 (30% premium applied when paid in equity) |
| Option Awards | $0 | 2024 director equity program favored restricted stock; options can be used but not granted to Beckwitt in FY2025 |
| Total | $287,936 | Director program offers: $230,000 (cash+equity) or $261,500 (all equity); Beckwitt chose all equity plus chair fee in equity |
Key program terms: Director may elect $230,000 (split: $105,000 cash, $125,000 equity) or $261,500 all equity; committee chairs get $20,000, and when chair fees are paid in equity a 30% premium is applied; director restricted stock vests on earliest of one-year anniversary, next annual meeting ≥50 weeks after prior meeting, retirement under policy, disability, or death; options have 10-year term and similar vesting triggers .
Performance Compensation (Director)
| Item | Disclosure |
|---|---|
| Performance-linked metrics for director pay | None disclosed; director equity grants are time-vesting (no revenue/EBITDA/TSR metrics) |
Director pay at EXP emphasizes alignment via equity but does not include performance-conditioned metrics for non-employee directors; performance metrics (ROE, EBITDA, operating earnings, TSR modifier) apply to executives’ long-term incentives, not directors .
Other Directorships & Interlocks
| Counterparty | Relationship to EXP | Exposure | Board Determination |
|---|---|---|---|
| Ferguson Enterprises (FERG) | Supplier and customer to EXP cement | Commercial tie via supply/customer channels | Not material; Beckwitt has no material interest in related transactions |
Expertise & Qualifications
- Deep homebuilding and real estate operating experience across Lennar and D.R. Horton, plus M&A/corporate finance at Lehman, supporting strategy, capital allocation, succession planning, and risk oversight for EXP .
- Public company leadership and board experience; governance chair responsibilities reinforce board effectiveness and sustainability oversight .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Beneficially Owned Shares | 24,111 | <1% of outstanding; options exercisable within 60 days count toward beneficial ownership |
| Ownership % of Shares Outstanding | <1% | Company had 32,630,879 shares outstanding on record date; table reports Beckwitt’s percentage as “*” (<1%) |
| Options Outstanding | 2,070 | Director options; outstanding as of FY-end |
| RSUs Outstanding | — | No RSUs reported for Beckwitt |
| Restricted Stock Outstanding | 5,505 | 4,405 prior grants with restrictions lapsing only upon death/retirement; balance fiscal 2025 grant with standard one-year vesting triggers |
| Hedging/Pledging | Prohibited by policy | Company prohibits hedging and pledging/margin use by directors and employees |
Governance Assessment
- Independence and conflicts: Independence confirmed; Ferguson interlock reviewed and deemed not material—positive for governance integrity, though the supplier/customer tie merits monitoring for any future related-party transactions .
- Board effectiveness and engagement: Governance Chair role and prior Audit membership indicate strong committee-level leadership; all incumbent directors met ≥75% attendance, and executive sessions without management support independent oversight—positive signal for board effectiveness .
- Alignment: Beckwitt elected 100% equity for director compensation (including chair fee in equity), strengthening shareholder alignment; restricted stock vesting terms encourage sustained engagement through meeting cycles .
- Risk indicators: No director-specific legal proceedings or related-party transactions disclosed; company-wide policy forbids hedging/pledging; note EXP’s classified board and opposition to declassification could be viewed as entrenchment risk by some investors, but board articulates long-term strategy rationale .
RED FLAGS: None disclosed specific to Beckwitt (no pledging, no related-party transactions, no attendance shortfall); monitor Ferguson exposure as a supplier/customer, although board deemed immaterial at present .