Neal Suit
Executive Vice President, General Counsel, and Chief Risk and Compliance Officer at 
Green Brick Partners
Green Brick PartnersExecutive
About Neal Suit
Neal Suit is Executive Vice President, General Counsel, and Chief Risk and Compliance Officer at Green Brick Partners (GRBK). He joined GRBK in 2021 and has served in his current role since October 2022; he is 49 years old and holds a B.A. from Baylor University and a J.D. from Harvard Law School . Company performance during his tenure has been strong: GRBK delivered 492.1% total shareholder return over five years ended 12/31/2024, and in 2024 achieved EPS of $8.45, Home Closings Revenue Growth of 17.1%, Homebuilding Gross Margin of 33.8%, and ROA of 18.2% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legacy Housing Corporation | Executive Vice President, General Counsel, and Corporate Secretary | Through Dec 2018 (key role in IPO) | Played a key role in Legacy’s successful IPO in December 2018 |
| Carrington, Coleman, Sloman & Blumenthal, LLP | Partner; Co-chair, Real Estate & Construction | A decade | Led real estate and construction practice; extensive industry-focused legal experience |
| Various Dallas law firms | Attorney | Not disclosed | Broad legal experience in real estate and construction industries |
External Roles
No current external public company directorships disclosed in the latest proxy .
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Base Salary | $300,000 | As per NEO base salary table |
| Target Annual Incentive Opportunity | $450,000 | Annual incentive baseline set in employment agreement |
| Actual 2024 Annual Incentive Earned (Paid early 2025) | $900,000 (50% cash, 50% stock) | Committee elected to pay 50% in fully vested stock |
| Perquisites & Benefits | $12,420 401(k) match; cell phone allowance included in “All Other Compensation” | Company-wide benefits (medical, dental, life, disability, 401k) provided to all eligible employees |
Performance Compensation
| Metric | Weighting | Target Structure | 2024 Actual/Payout | Vesting/Payment |
|---|---|---|---|---|
| Operational & Financial Performance vs Peers (Home Closings Revenue Growth, Gross Margin, ROA) | 25% for GC | Payout grid based on cells met/exceeded: 6 cells = 50%; 13 cells = 100%; 18 cells = 200% | GRBK met/exceeded in 21 of 24 cells → 200% of component | Up to 50% of Annual Incentive paid in stock at Committee’s discretion; 2024 payout split 50% stock/50% cash |
| EPS (Absolute) | 25% | Threshold $5.50 = 50%; Target $6.68 = 100%; Maximum $7.20 = 200% | Actual EPS $8.45 → 200% of component | Same as above (50% paid in stock for 2024) |
| Relative TSR | Not a component for GC | N/A | N/A | N/A |
| Strategic Objectives (role-specific) | 50% for GC | Multiple quantitative/qualitative objectives set annually | Committee assessed 200% of component based on litigation management, insurance expansion, governance/compliance improvements, and HR oversight | Same as above (50% paid in stock for 2024) |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 18,614 shares; less than 1% of outstanding |
| Unvested RSAs (12/31/2024) | 1,211 shares vest 3/6/2025 ($68,409 market value at $56.49); 3,029 shares vest 6/13/2025 ($171,108); total unvested RSAs: 4,240 shares ($239,517) |
| Stock Vested (2024) | 863 shares vested; 256 withheld for taxes; 607 net shares received |
| Options (Exercisable/Unexercisable) | None disclosed for Suit; only RSAs outstanding |
| Pledging/Hedging | Officers/directors prohibited from hedging/pledging; limited pledging exception only for 10%+ beneficial owners approved by Board (not applicable to executives) |
| Ownership Guidelines | NEOs must hold 2x base salary; 5 years to comply; until compliant, retain 100% of net shares from settlements/RSU vestings |
Employment Terms
| Provision | Terms |
|---|---|
| Role & Tenure | EVP, General Counsel, and Chief Risk & Compliance Officer since Oct 2022; joined GRBK in 2021 |
| Severance (No CIC) | 1.5x (base salary + target bonus) → 1.5 × ($300,000 + $450,000) = $1,125,000 |
| Severance (Post-CIC) | No incremental CIC enhancement for Suit (same as above) |
| Clawback | Bonus and equity may be clawed back upon financial restatement due to material non-compliance |
| Restrictive Covenants | 12-month non-compete and non-solicit; perpetual confidentiality and non-disparagement |
| Anti-Hedging/Anti-Pledging | Hedging and pledging prohibited for officers/directors; short sales prohibited |
| Excise Tax Treatment | Cut-back to avoid 280G/4999 excise tax (minimum extent necessary) applies to Suit |
Investment Implications
- Pay-for-performance alignment is clear: Suit’s 2024 incentive was fully tied to EPS, rigorous relative peer performance, and role-specific strategic objectives, with 50% paid in stock to reinforce ownership; TSR is excluded from GC’s formula, but company TSR ranks highly over 1-, 3-, and 5-year horizons .
- Retention risk appears moderate: severance of 1.5x salary+target bonus without CIC uplift, plus 12-month non-compete/non-solicit and strong clawback/anti-hedging policies, suggest balanced protection and alignment .
- Near-term vesting events (March 6, 2025 and June 13, 2025) total 4,240 RSAs ($239,517 at 12/31/2024 price), which can create episodic liquidity/tax-withholding activity; however, guideline-driven 100% net-share retention until compliance mitigates selling pressure .
- Ownership is modest (<1% of shares outstanding), but ongoing stock-settled incentive payouts and retention requirements support incremental alignment over time; pledging is prohibited for executives (reducing alignment red flags) .