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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.