Kevin Eltife
KB HOMEAbout Kevin P. Eltife
Independent director of KB Home since 2020; age 65. Founder and owner of Eltife Properties, Ltd. (commercial real estate) since 1996. Current Chairman of The University of Texas System Board of Regents (Chair since 2018; member since 2017). Former Texas State Senator (2004–2016; President pro tempore 2015–2016) and Mayor of Tyler, Texas (1996–2002). His background centers on real estate development oversight, executive leadership and public policymaking, with strong ties to Texas, a key KB Home market .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Texas State Senate | State Senator; President pro tempore (2015–2016) | 2004–2016 | State policymaking; leadership role as President pro tempore |
| City of Tyler, Texas | Mayor | 1996–2002 | Municipal executive leadership |
| Eltife Properties, Ltd. | Founder & Owner | 1996–Present | Commercial real estate investment and development oversight |
External Roles
| Organization | Role | Tenure | Notes / Interlocks |
|---|---|---|---|
| The University of Texas System Board of Regents | Chairman (Member since 2017) | 2018–Present | Governance of a major public university system; KBH director James “Rad” Weaver concurrently serves as UT System Vice Chair, creating an external interlock . |
| Citizens 1st Bank | Director | 2002–Present | Community bank board service (non-public company per proxy’s public-directorships listing) . |
| KB Home | Director (public company) | 2020–Present | Only public company directorship disclosed . |
Board Governance
- Committee assignments (current): Audit and Compliance Committee member; Nominating and Corporate Governance Committee member. Not disclosed as committee chair .
- Independence: All directors except the CEO are independent; only independent directors serve on committees .
- Attendance and engagement: In 2024, the Board held 4 meetings; Audit held 6; Compensation held 5; Nominating held 4. Each incumbent director standing for election attended at least 75% of their total Board and committee meetings; all directors elected in 2024 attended the annual meeting. Non-employee directors hold executive sessions at each regularly scheduled Board meeting .
- Risk oversight exposure via Audit: Oversees ERM assessment (COSO framework), internal audit plan, quarterly risk reporting, and cybersecurity with the most recent review in January 2025—areas where Eltife participates as a committee member .
- Related-party transactions: None involving outside directors in 2024 (low conflict signal) .
- Structural safeguards: Majority voting with resignation policy; retirement at first annual meeting after age 75; overboarding limits (no directors over-boarded) .
Fixed Compensation (Non-Employee Director – FY2024)
| Component | Amount |
|---|---|
| Fees Earned or Paid in Cash | $122,500 |
| Stock Awards (grant date fair value) | $162,500 |
| All Other Compensation (meeting fees) | $3,000 |
| Total | $288,000 |
| 2024 Equity Granted (shares) | 2,689 common shares (election to receive stock) |
Director compensation program elements (for context):
- Committee retainers: Audit Chair $27,500 / Member $12,500; Compensation Chair $21,000 / Member $10,000; Nominating Chair $20,000 / Member $10,000; Lead Independent Director retainer $40,000; Meeting fees $1,500 per applicable meeting .
Performance Compensation
| Performance-linked element | Disclosed? | Notes |
|---|---|---|
| Performance-based director equity (PSUs) | No | Directors elect common stock or deferred stock units; program is retainers + equity choice, with no disclosed director PSUs . |
| Stock options for directors | No (since 2016) | Company states it has not granted stock options as an element of director and employee compensation since 2016 . |
Other Directorships & Interlocks
| Type | Entity | Detail |
|---|---|---|
| Public company directorships | KB Home | Only current public board disclosed . |
| Private/Non-profit/Academic | UT System Board of Regents | Chairman; interlock with KBH director James C. “Rad” Weaver (UT System Vice Chair) . |
| Financial institution | Citizens 1st Bank | Director since 2002 . |
Expertise & Qualifications
- Real estate development and project oversight through Eltife Properties; executive governance experience; extensive public policy background; prominent Texas market presence valuable to KB Home’s footprint .
Equity Ownership
| Holder | Total Beneficial Ownership (shares) | Stock Options | Notes |
|---|---|---|---|
| Kevin P. Eltife | 17,287 | — | Less than 1% of shares outstanding; includes all equity-based director compensation; company bars pledging/hedging; directors must own ≥5x board retainer ($500,000) within 5 years; all non-employee directors are in compliance . |
Governance Assessment
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Positives
- Independent director on two high-impact committees (Audit; Nominating), providing direct oversight of ERM, cybersecurity, financial reporting, governance practices, and related-party screening .
- Documented engagement and attendance standards met; executive sessions each regular meeting support independent oversight .
- Clean related-party profile in 2024; robust policies on hedging/pledging prohibition and stock ownership guidelines with full compliance (alignment signal) .
- Balanced director pay structure with meaningful equity component (additional alignment) .
-
Watch items
- External interlock: Concurrent service with KBH director James C. “Rad” Weaver on the UT System Board of Regents (Eltife as Chair; Weaver as Vice Chair) could create perceptions of influence alignment; no specific conflict disclosed at KBH and no related-party transactions reported for outside directors in 2024. Monitor, especially around nomination and compensation decisions where both influence broader board dynamics .
-
Market-facing signals
- Say-on-Pay support improved to 81% in 2024, indicating constructive shareholder sentiment toward compensation governance; not Eltife-specific but relevant to overall board oversight perception .
RED FLAGS: None disclosed specific to Eltife. No related-party transactions involving outside directors in 2024; directors prohibited from pledging/hedging; no overboarding issues reported .