Rick Beckwitt
About Rick Beckwitt
Rick Beckwitt, age 66, is an independent director of Ferguson Enterprises Inc. (FERG) serving since June 2024. He brings deep leadership and operating experience from public homebuilding firms, including CEO and co-CEO roles at Lennar, plus executive roles at D.R. Horton and M&A work at Lehman Brothers. He serves on Ferguson’s Compensation Committee and is considered independent under NYSE/SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lennar Corporation | Co-Chief Executive Officer and Co-President | Nov 2020–Sep 2023 | Executive leadership; strategy and risk oversight |
| Lennar Corporation | Chief Executive Officer | Apr 2018–Nov 2020 | CEO responsibilities across operations and strategy |
| Lennar Corporation | President | Apr 2011–Apr 2018 | Enterprise leadership |
| Lennar Corporation | Executive Vice President | Mar 2006–Apr 2011 | Senior management |
| D.R. Horton, Inc. | Various executive officer roles incl. President | 1993–Mar 2000 | Senior management |
| EVP Capital, L.P. (Encore Venture Partners – DR Horton affiliate) | Owner & Principal | Mar 2000–Apr 2003 | Venture investing |
| Lehman Brothers | M&A and Corporate Finance | 1986–1993 | Investment banking |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eagle Materials Inc. | Director (current) | Not disclosed | Not disclosed |
| Lennar Corporation | Director (former) | 2018–2023 | Not disclosed |
| Five Point Holdings, LLC | Director (former) | 2016–2020 | Not disclosed |
| D.R. Horton, Inc. | Director (former) | 1993–2003 | Not disclosed |
Board Governance
- Committee assignments: Compensation Committee member; committee is fully independent per NYSE standards .
- Committee chair roles: None (Compensation Committee chaired by Kelly Baker) .
- Independence status: Board determined all Non-Employee Directors (including Beckwitt) are independent under NYSE/SEC rules .
- Attendance and engagement: FY2025 Board met 8x; Audit 6x; Compensation 7x; N&G 5x. Each incumbent director attended at least 75% of meetings of the Board and committees on which they served .
- Executive sessions: Independent directors meet regularly in executive session; independent Chair presides .
- Compensation Committee interlocks: No interlocks or insider participation requiring disclosure; none of committee members were company officers .
Fixed Compensation
| Component | FY2025 Amount | Notes |
|---|---|---|
| Cash fees paid (actual) | $126,667 | FY2025 cash compensation to Beckwitt |
| Base non-employee director fee (annualized schedule) | $130,000 | FY2025 schedule; increased from $120,000 to align to U.S. levels |
| Committee chair fees (if applicable) | $0 | Compensation Chair fee is $28.5k; Beckwitt is not chair |
| Board Chair fee (not applicable) | $0 | Board Chair fee $250k; Beckwitt not Chair |
| Other comp | $0 | No travel/tax prep allowances for U.S.-based NEDs post Dec 1, 2024; none paid to Beckwitt |
Performance Compensation
| Grant Type | Grant Date | Grant Fair Value | RSUs Outstanding (as of 7/31/2025) | Vesting | Dividend Equivalents |
|---|---|---|---|---|---|
| Non-Employee Director RSUs (FY25) | Dec 11, 2024 | $179,930 | 923 | Time-based to next annual meeting (~1 year) | Accrue during vest; vest on same terms |
- Design: Annual RSU grants to NEDs under the Omnibus Plan; time-vest only (no performance metrics). Future NED grants made annually and time-vest for ~1 year to the next annual meeting .
- Clawback policy: Effective Aug 1, 2024, applies to Non-Employee Directors and Executive Officers for restatements or certain misconduct, consistent with SEC/NYSE standards .
- Equity grant timing: Awards approved in September and granted several weeks later, following at least one business day after FY results disclosure; Committee did not use MNPI to time grants in FY2025 .
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Current public company boards | Eagle Materials Inc. |
| Committee interlocks (Compensation) | None requiring disclosure; no insiders on committee; company executives did not serve on others’ compensation committees under disclosable circumstances |
| Related-party transactions | None involving Beckwitt disclosed; Board reviewed certain routine transactions with other directors/executives and approved per policy |
Expertise & Qualifications
- Deep knowledge of homebuilding and real estate from executive roles; extensive leadership and operational experience; insight into strategic planning and risk oversight .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Rick Beckwitt | 3,734 | <1% | Includes 938 shares issuable from RSUs vesting within 60 days of Oct 8, 2025; base outstanding shares 195,977,590 |
| NED ownership guidelines | 4× base fee (market value) | N/A | Must meet within 5 years of later of Aug 1, 2024 or appointment; retain net-of-tax awards until compliant; all current NEDs met or on track |
| Hedging/pledging | Prohibited | N/A | Insider Trading Policy prohibits hedging instruments and pledging/margin of company stock |
Governance Assessment
- Board effectiveness: Beckwitt adds seasoned operator and former CEO experience to a fully independent Compensation Committee. Attendance standards met across the Board; independent directors hold regular executive sessions with an independent Chair .
- Alignment and incentives: Director pay mix balanced (~42% cash, ~58% equity for FY2025), with ownership guidelines (4× base fee) and clawback coverage for NEDs—positive alignment features for investors .
- Conflicts and related parties: No Item 404 related-party transactions for Beckwitt; Compensation Committee interlocks explicitly negate conflict concerns—supportive of investor confidence .
- Risk indicators:
- Anti-hedging/pledging policy in place—reduces misalignment risk .
- No meeting fees; travel/tax prep allowances discontinued—cleaner pay structure .
- Say-on-pay process described; Compensation Committee report signed (Beckwitt among signatories)—committee accountability .
- RED FLAGS:
- None disclosed for Beckwitt (no related-party transactions, hedging/pledging is prohibited, attendance thresholds met). Note that individual director ownership is modest in absolute shares, but guideline compliance is on track within the five-year window .