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    Dallas B. Tanner

    CEO and Board Member at Invitation Homes Inc
    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 Inc

    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

    OrganizationRoleDate RangeDetails
    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

    OrganizationRoleDate RangeDetails
    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 NameAmountPayment ScheduleAdditional Details
    Base Salary$1,000,000Annual5% increase vs. 2022 as determined by the Compensation and Management Development Committee
    All Other Compensation$11,385Per company policyCompany-paid matching 401(k) plan contributions

    Performance Compensation

    Data from  FY 2023

    Annual Cash Incentive Plan

    Metric (Weight)ThresholdTargetMaximumAdditional Details
    AFFO per Share (30%)50% payout100% payout200% payoutPerformance measured against budget; payout calculated via straight-line interpolation
    Same Store Core Revenue Growth (20%)50% payout100% payout200% payoutYoY growth; tied to company targets
    Adjusted EBITDA Margin (20%)50% payout100% payout200% payoutBased on budgeted margins
    Strategic Priorities (20%)50% payout100% payout200% payoutSpecific company strategic goals
    Individual Performance (10%)50% payout100% payout200% payoutEvaluated 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

    ComponentDetail
    Performance MetricsTSR Relative to RMS Index CAGR (45%) and Same Store NOI Growth CAGR (30%)
    Payout LevelsThreshold: 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 QuantitiesThreshold: 91,003 RSUs, Target: 182,008 RSUs, Maximum: 364,016 RSUs
    Vesting ScheduleEarned 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.