Sign in

    Phillippe Lord

    Chief Executive Officer at Meritage Homes
    Board
    Since January 1, 2021
    Age
    51 years
    Education
    Holds a Bachelor's degree in Economics and Business from Colorado State University and completed master's coursework in Economics at the University of Arizona.
    Tenure
    Joined MTH in 2008 and progressed through roles including Vice President of Strategic Operations, President of the West Region, Chief Operating Officer, and was promoted to CEO on January 1, 2021.

    Also at Meritage Homes

    SJH
    Steven J. Hilton
    Executive Chairman
    HS
    Hilla Sferruzza
    Executive Vice President, Chief Financial Officer (CFO), and Assistant Secretary
    JF
    Javier Feliciano
    Executive Vice President (EVP) and Chief People Officer (CPO)

    About

    Phillippe Lord is a seasoned executive with extensive experience in both strategic operations and leadership roles within the homebuilding industry. He holds strong academic credentials, having earned a Bachelor's degree in Economics and Business from Colorado State University and completed his master's coursework in Economics at the University of Arizona.

    He began his career at Meritage Homes in 2008, where he established key departments in strategic operations and market research. His progression through roles, from Vice President of Strategic Operations to President of the West Region and later Chief Operating Officer, highlights his comprehensive understanding of the company's operations and market dynamics.

    Since January 1, 2021, he has led the company as CEO, contributing significantly to its strategic direction and operational growth. His long-term tenure and varied responsibilities at MTH underscore a career marked by incremental leadership and impactful contributions.

    $MTH Performance Under Phillippe Lord

    Past Roles

    OrganizationRoleDate RangeDetails
    Meritage Homes Corporation Chief Operating Officer and Executive Vice President April 2015 to December 2020 Ended due to promotion to Chief Executive Officer on January 1, 2021
    Meritage Homes Corporation President of the West Region 2012 to 2015 N/A
    Meritage Homes Corporation Created the Company's Strategic Operations and Market Research Department 2008 Initiated department responsible for land acquisitions, product, and pricing analysis
    Acacia Capital Leadership Position N/AUnspecified details
    Centex Homes Leadership Position N/AUnspecified details
    Pinnacle West Capital Leadership Position N/AUnspecified details

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,000,000 Annual 2024Base salary component
    Health and Insurance Premiums$52,109 Annual 2024Covers health/insurance premiums
    401(k) Match$10,350 Annual 2024401(k) contribution match
    Other Compensation$1,058 Annual 2024Other cash compensation component

    Performance Compensation

    Data from  FY 2024

    Stock Awards

    MetricDetails
    Performance MetricsAdjusted ROA and Relative TSR
    Adjusted ROAThreshold: 50% target (50% shares), Target: 100% target (100% shares), Maximum: 150% target (200% shares); Below threshold: 0%
    Relative TSRThreshold: 25th percentile (50% shares), Target: 50th percentile (100% shares), Maximum: 75th percentile (200% shares); Below threshold: 0%
    Grant DateFebruary 22, 2024
    Grant Date Fair ValueApproximately $2,500,000 at target level
    Grant Date Stock Price$76.59 (split-adjusted)
    Vesting ScheduleVest on the third anniversary of grant, subject to performance
    Share AwardsThreshold: 16,321 shares, Target: 32,642 shares, Maximum: 65,284 shares

    Non-Equity Incentive Plan Compensation

    MetricDetails
    Performance MeasuresAdjusted EBITDA (60%), Number of Home Closings (30%), Customer Satisfaction Rating (10%)
    Adjusted EBITDAActual: $1,114,494,000; Target ≥ $950,000,000; Target bonus: $1,800,000; NEO Payout: $3,782,739 at 210.2%
    Number of Home ClosingsActual: 15,611; Target ≥ 15,000; Target bonus: $900,000; NEO Payout: $1,449,900 at 161.1%
    Customer Satisfaction RatingActual: 95.0%; Target ≥ 89.0%; Target bonus: $300,000; NEO Payout: $750,000 at 250.0%
    Payment ScheduleIncentives paid post-year-end in February 2025
    Grant DateFebruary 22, 2024
    Additional DetailsPerformance thresholds apply; each measure has set threshold, target, and maximum levels

    Both performance components detail the metrics, targets, thresholds, weights, vesting schedules, and actual results leading to specific payouts for 2024.