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    Meritage Homes (MTH)

    Meritage Homes Corporation (MTH) is a leading designer and builder of single-family attached and detached homes in the United States. The company focuses on constructing entry-level and first move-up homes in historically high-growth regions. In addition to homebuilding, MTH provides financial services related to home purchases, including title, escrow, mortgage, and insurance services.

    1. Homebuilding - Acquires and develops land, constructs homes, markets and sells homes, and provides warranty and customer services. Operates in three geographical segments:

      • West - Includes operations in Arizona, California, Colorado, and Utah.
      • Central - Includes operations in Tennessee and Texas.
      • East - Includes operations in Alabama, Florida, Georgia, Mississippi, North Carolina, and South Carolina.
    2. Financial Services - Offers title and escrow, mortgage, and insurance services to homebuyers. Includes:

      • Carefree Title Agency, Inc. - Provides title insurance and closing/settlement services in certain states.
      • Meritage Homes Insurance Agency, Inc. - Collaborates with insurance companies to offer homeowners insurance and other products.
      • Mortgage Services - Delivered through an unconsolidated joint venture.

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    NamePositionExternal RolesShort Bio

    Phillippe Lord

    ExecutiveBoard

    Chief Executive Officer

    Phillippe Lord has been the CEO of Meritage Homes Corporation since January 1, 2021. Previously, he served as Chief Operating Officer from 2015 to 2020, Western Region President from 2012 to March 2015, and Vice President of Strategic Operations from 2008 to 2012.

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    Steven J. Hilton

    ExecutiveBoard

    Executive Chairman

    Board member for Translational Genomics Research Institute (TGEN) Foundation; Board member for Boys & Girls Clubs of Greater Scottsdale Foundation

    Steven J. Hilton is the Executive Chairman of Meritage Homes since January 1, 2021. He previously served as Chairman and CEO from May 2006 to December 31, 2020 and has been a director since 1996, having co-founded the company in 1985.

    Hilla Sferruzza

    Executive

    Executive Vice President, Chief Financial Officer (CFO), and Assistant Secretary

    Hilla Sferruzza serves as the Executive Vice President, Chief Financial Officer (CFO), and Assistant Secretary at Meritage Homes Corporation with no detailed background information available on her previous roles or contributions. The documents only confirm her current role, without additional career history details.

    Javier Feliciano

    Executive

    Executive Vice President (EVP) and Chief People Officer (CPO)

    Javier Feliciano joined Meritage Homes Corporation in November 2015 as Chief Human Resources Officer, now known as Chief People Officer and EVP, reporting directly to the CEO and serving as a Named Executive Officer.

    Malissia Clinton

    Executive

    Executive Vice President, General Counsel, and Secretary

    Malissia Clinton has served as the Executive Vice President, General Counsel, and Secretary at Meritage Homes Corporation since April 18, 2022. Previously, she was the Senior Vice President, General Counsel, and Secretary at The Aerospace Corporation from July 2009 to April 2022.

    Dana C. Bradford

    Board

    Director

    Chairman and CEO of C3 Brands

    Dana C. Bradford has been a director at MTH since August 2009 and currently serves as Chair of the Asset Management Committee effective February 20, 2025. He brings expertise from his active role as Chairman and CEO of C3 Brands as well as his prior experience as President and Managing Partner at McCarthy Capital Corporation.

    Deb Henretta

    Board

    Director

    Director at Corning Incorporated (since 2013); Director at Nisource Inc. (since 2015); Director at American Eagle Outfitters (since 2019)

    Deb Henretta has been a director at Meritage Homes Corporation (MTH) since March 2016 and serves as Chair of the Environmental, Social, and Sustainability Committee since January 2, 2024. She brings extensive leadership experience from her 30-year career at Procter & Gamble, where she held senior roles.

    Dennis V. Arriola

    Board

    Director

    Operating Partner at Sandbrook Capital; Director at Commercial Metals Company; Director at ConocoPhillips; Director at Automobile Club of Southern California

    Dennis V. Arriola was appointed to the board of Meritage Homes Corporation on June 14, 2023 and brings extensive leadership experience in ESG, operations, and finance. He has previously served in executive roles such as CEO at Avangrid, Inc., EVP at Sempra Energy, and is currently an Operating Partner at Sandbrook Capital, further complementing his board experience.

    Erin Lantz

    Board

    Independent Director

    Chief Revenue Officer at Ethos; Board Member at Blend Labs, Inc.

    Erin Lantz, with over 20 years of leadership experience, was appointed as an independent director to Meritage Homes effective October 14, 2024. Previously, she has served as Chief Revenue Officer at Ethos since April 2020 and as Vice President and General Manager of Mortgages at Zillow Group from July 2010 to October 2019.

    Geisha Williams

    Board

    Independent Director

    Director on the Supervisory Board at Siemens Energy AG; Director for Artera Services; Chairperson at Osmose Utilities Services

    Geisha Williams has been serving as an Independent Director at MTH since January 6, 2025. She has extensive leadership experience, having served as CEO of PG&E Corporation from 2017 to 2019 and held various board roles at companies such as Salesforce, Siemens Energy AG, and others.

    Joseph Keough

    Board

    Director

    Chairman and CEO of Wood Partners; Board Member at Interface, Inc.

    Joseph Keough has been a Director at Meritage Homes Corporation since June 2019. He currently serves as Chairman and CEO of Wood Partners and is a board member at Interface, Inc..

    Michael R. Odell

    Board

    Director

    President, CEO, and Board Member at Marubeni Automotive Aftermarket Holdings

    Michael R. Odell has served as a director at Meritage Homes Corporation (MTH) since December 2011 and is the Chair of the Compensation Committee. He brings extensive leadership experience from his current role as President, CEO, and Board Member at Marubeni Automotive Aftermarket Holdings.

    P. Kelly Mooney

    Board

    Director

    Founder and CEO of Equipt Women

    P. Kelly Mooney has been a Director at Meritage Homes Corporation since March 2020. She brings expertise in human capital, marketing, and executive management while also serving as the Founder and CEO of Equipt Women.

    Peter L. Ax

    Board

    Lead Independent Director

    Owner and Operator of UpScript Health

    Peter L. Ax has been a director at Meritage Homes Corporation since September 2000 and currently serves as the lead independent director and Chair of the Audit Committee. He has an extensive background in telemedicine, venture capital, and corporate finance, and he actively owns and operates UpScript Health.

    1. Given that financing incentives have significantly lowered the ASP and gross margins this quarter, what specific initiatives will management deploy to counteract these margin pressures, and how will these differ from the approaches taken in 2024?
    2. With Q3 expected to be a lower volume quarter due to high backlog conversion and seasonal slowdowns, what concrete strategies does management have to mitigate the impact on operating leverage and maintain consistent profitability?
    3. In light of recent efforts to rebid land development jobs and the potential for cost savings, can management provide a more detailed timeline and quantifiable targets for when these savings will begin to materially benefit the P&L?
    4. As new communities are opened under an aggressive expansion strategy, how does management intend to balance the potential trade-off between early momentum pricing and maintaining healthy margin profiles across both new and established markets?
    5. With the recent reduction in land spend combined with an aggressive share buyback approach, how will management ensure that capital allocation remains properly balanced to support both short-term shareholder returns and long-term growth initiatives?
    Program DetailsProgram 1Program 2Program 3Program 4Program 5
    Approval DateFebruary 13, 2019 November 13, 2020 August 12, 2021 May 19, 2022 November 21, 2024
    End Date/DurationNo expiration No expiration No expiration No expiration No expiration
    Total Additional Amount ($USD)$100,000,000 $100,000,000 $100,000,000 $200,000,000 $250,000,000
    Remaining Amount ($USD)$0 $0 $0 $0 $219,078,895
    DetailsDiscretionary repurchases based on market and economic conditions Discretionary repurchases based on market and economic conditions Discretionary repurchases based on market and economic conditions Discretionary repurchases based on market and economic conditions Discretionary repurchases based on market and economic conditions

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Elliott Homes

    2024

    The acquisition by Meritage Homes closed on October 29, 2024, and strategically expands Meritage’s footprint in the Gulf Coast with over 5,500 acquired lots aimed at bolstering their affordable, entry-level housing offerings; the deal is margin accretive and excludes any work-in-progress adjustments, aligning with their growth strategy.

    No recent press releases or 8-K filings found for MTH.