Robert Vahradian
LGI HomesAbout Robert Vahradian
Robert Vahradian (age 63) is an independent director of LGI Homes (LGIH) who has served on the Board since June 2013. He is a Partner at GTIS Partners, LP, where he runs U.S. investment and asset management activities and sits on GTIS’s investment committee; previously he was President of Allied Partners, COO and principal of The Athena Group, and a Director in Credit Suisse First Boston’s real estate investment banking and principal groups. He currently serves on LGIH’s Nominating and Corporate Governance Committee. The Board has determined he is independent under NASDAQ rules.
Past Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| GTIS Partners, LP | Partner; leads U.S. investments; member, investment committee | Joined 2006 (current) | Brings residential land development, homebuilding and single-family rental investment/asset management expertise to LGIH Board deliberations |
| Allied Partners | President | Not disclosed (prior to GTIS) | Private real estate investment leadership experience |
| The Athena Group, LLC | Chief Operating Officer and principal | Not disclosed (prior to GTIS) | Residential investment and development operating experience |
| Credit Suisse First Boston | Director, real estate investment banking and principal groups | Not disclosed (prior to Athena) | Real estate finance and capital markets experience |
External Roles
| Organization | Role | Nature | Notes |
|---|---|---|---|
| GTIS Partners, LP | Partner; U.S. investment lead; Investment Committee member | Private real estate investment firm | Global firm managing residential, industrial, office, hotel, and mixed-use properties (U.S. and Brazil) |
Board Governance
- Committee assignments: Member, Nominating and Corporate Governance Committee; not a committee chair .
- Independence: Board classifies Vahradian as independent; only the CEO (Eric Lipar) is non-independent .
- Attendance: In 2024, the Board met 5 times and the Nominating and Corporate Governance Committee met 4 times; all directors attended 100% of Board and committee meetings on which they served .
- Lead Independent Director: Bryan Sansbury serves as Lead Independent Director and presides over executive sessions of independent directors .
| 2024 Meeting Activity | Count | Attendance |
|---|---|---|
| Board of Directors | 5 | 100% for all directors |
| Nominating & Corporate Governance Committee | 4 | 100% for all directors |
Fixed Compensation
| Year (Service) | Cash Retainer | Committee Chair/Lead Fees | Meeting Fees | Total Cash |
|---|---|---|---|---|
| 2024 | $75,000 | $0 (not a chair/lead) | $0 (none disclosed) | $75,000 |
| 2023 | $75,000 | $0 (not a chair/lead) | $0 (none disclosed) | $75,000 |
Notes: Non-employee director package includes reimbursement of reasonable out-of-pocket travel expenses for in-person meetings .
Performance Compensation
| Grant Date | Instrument | Number of RSUs | Grant-Date Fair Value | Vesting/Terms |
|---|---|---|---|---|
| 12/15/2024 | RSUs (2025 director services) | 1,553 | $155,067 | One-year cliff vest; accelerates on disability, death, or immediately prior to a change in control |
| 12/15/2023 | RSUs (2024 director services) | 1,221 | ~$155,000 | One-year cliff vest; accelerates on disability, death, or immediately prior to a change in control |
Performance metrics: None (director equity is time-based RSUs; no performance conditions) .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | Not disclosed in 2025/2024 proxy biographies for Vahradian |
| LGIH Committee roles | Member, Nominating & Corporate Governance Committee |
| Related-party transactions (historical) | In 2021, LGIH purchased 110 finished lots in Pasco County, FL from an affiliate of Director Vahradian (~$4.0 million). No related-party transactions were entered into or completed during 2023 or 2024 |
Expertise & Qualifications
- Deep real estate domain expertise across residential land development, homebuilding, investment, asset management, and finance; decades of industry experience (since 1986) .
- Investment committee leadership at GTIS and prior executive roles in real estate operations and finance support LGIH capital allocation, growth, and governance deliberations .
Equity Ownership
| Item | Value/Status |
|---|---|
| Beneficial ownership (2/28/2025) | 22,520 shares (<1% of outstanding) |
| Unvested director RSUs (12/31/2024) | 1,553 for each non-employee director |
| Director stock ownership guidelines | 5x annual cash retainer ($75k), with 5 years to comply; as of 12/31/2024, each non-employee director was in compliance |
| Hedging/Pledging policy | Hedging prohibited; pledging permitted only with pre-clearance per Insider Trading Policy |
Insider Trading and Section 16 Compliance
| Item | Disclosure |
|---|---|
| Section 16 filing timeliness | Company disclosed a clerical oversight: a Form 4 for each director (including Vahradian) reporting RSU grant acquisition was filed late on December 19, 2024 |
Governance Assessment
- Positives: Independent director with 12+ years of service; 100% meeting attendance; subject-matter depth in real estate investments and development; member of Nominating & Corporate Governance Committee; holds equity and is in compliance with stringent 5x retainer ownership guideline; hedging prohibited by policy. These support alignment and board effectiveness .
- Potential risks/RED FLAGS: Historical related-party transaction in 2021 (affiliate land purchase ~$4.0 million) creates perceived conflict risk, though no such transactions in 2023–2024; late Form 4 filing in December 2024 (clerical oversight) is a minor process lapse. Continued monitoring of any LGIH transactions with GTIS or affiliates is recommended .