Dallas B. Tanner

CEO and Board Member at Invitation Homes

Board

Since January 2019

Age

43 years

Tenure

Joined INVH as Executive Vice President and Chief Investment Officer at its founding in April 2012, later serving as Interim President from August 2018 and finally as CEO and Board Member from January 2019.

Also at Invitation Homes

CDY

Charles D. Young

President and COO

JSO

Jonathan S. Olsen

EVP, CFO, and Treasurer

KKN

Kimberly K. Norrell

EVP and Chief Accounting Officer

About

Dallas B. Tanner is a seasoned executive in the real estate industry with over 20 years of experience, known for his strategic insights and leadership in transforming the single-family rental market. His career at Invitation Homes spans from its inception, where he played a critical role as the Executive Vice President and Chief Investment Officer, to his interim appointment as President, and ultimately to his ongoing leadership as CEO and Board Member starting in January 2019.

A dedicated professional, he has been instrumental in shaping the company’s growth and operational excellence, contributing not only through his executive roles but also by participating on multiple advisory boards and boards of other real estate ventures.

Beyond his corporate endeavors, his personal commitment is reflected in his active involvement in philanthropic activities such as American Indian Services and international missionary work in the Netherlands and Belgium.

$INVH Performance Under Dallas B. Tanner

Past Roles

Organization	Role	Date Range	Details
Invitation Homes	President and CEO	January 2019 - February 2023	Held the position until February 2023
Invitation Homes	Interim President	August 2018 - January 2019	Stepped in as Interim President before appointment as CEO
Invitation Homes	Executive Vice President and Chief Investment Officer	April 2012 - January 2019	Held role from the founding of the company
Treehouse Group	Founder	2005 - N/A	Founded the firm and privately sourced funds for platform investments
First Scottsdale Bank of Arizona	Partner	N/A	Involved in a successful acquisition

External Roles

Organization	Role	Date Range	Details
Roots Management	Director	N/A	Manufactured housing platform with over 40,000 homes operating in 22 states
HOPE Global	Board Member (Advisory)	N/A	Member of the Board of Advisors
Harvard Joint Center for Housing Studies	Policy Advisory Board Member	N/A	Advisory role
Arizona State University	Real Estate Advisory Board Member	N/A	Advisory role
Real Estate Roundtable	Board Member	N/A	Active role

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,000,000	Annual	5% increase vs. 2022 as determined by the Compensation and Management Development Committee
All Other Compensation	$11,385	Per company policy	Company-paid matching 401(k) plan contributions

Performance Compensation

Data from FY 2023

Annual Cash Incentive Plan

Metric (Weight)	Threshold	Target	Maximum	Additional Details
AFFO per Share (30%)	50% payout	100% payout	200% payout	Performance measured against budget; payout calculated via straight-line interpolation
Same Store Core Revenue Growth (20%)	50% payout	100% payout	200% payout	YoY growth; tied to company targets
Adjusted EBITDA Margin (20%)	50% payout	100% payout	200% payout	Based on budgeted margins
Strategic Priorities (20%)	50% payout	100% payout	200% payout	Specific company strategic goals
Individual Performance (10%)	50% payout	100% payout	200% payout	Evaluated based on personal performance objectives

Grant Date: March 1, 2023
Grant Date Stock Price: $30.36
Time-Vesting RSUs: 61,759 shares vesting in three equal annual installments on each anniversary of the grant date
Performance-Vesting RSUs: 182,008 shares at target with 75% of the RSUs based on performance. Specifically, 45% are tied to TSR Relative to RMS Index CAGR and 30% are tied to Same Store NOI Growth CAGR
Actual Cash Incentive Payout: $1,891,521, which represents 97.6% of the target

LTIP Performance Vesting RSUs

Component	Detail
Performance Metrics	TSR Relative to RMS Index CAGR (45%) and Same Store NOI Growth CAGR (30%)
Payout Levels	Threshold: 50%, Target: 100%, Maximum: 200%; below threshold results in 0% payout
Grant Date:	March 1, 2023
Grant Date Fair Value:	$5,625,028
Grant Date Stock Price:	$30.36
RSU Quantities	Threshold: 91,003 RSUs, Target: 182,008 RSUs, Maximum: 364,016 RSUs
Vesting Schedule	Earned over performance period (January 1, 2023 – December 31, 2025); vesting upon Certification after the period
Conditions:	Subject to continued employment until Certification; unearned RSUs forfeited if not met

This explanation covers the performance compensation components for 2023, including both the Annual Cash Incentive Plan and the LTIP Performance Vesting RSUs, with detailed performance metrics, thresholds, targets, vesting schedules, actual payout results, and other key details.