Brett A. Steele
About Brett A. Steele
Brett A. Steele (age 55) is Vice President, General Counsel, and Secretary of Smith Douglas Homes (SDHC), serving since 2018; he holds a B.A. from Huntingdon College and a J.D. from Mercer University . Prior roles include Vice President & Chief Legal Officer at Habitat for Humanity in Atlanta (2015–2018), Associate General Counsel & Chief Compliance Officer at Beazer Homes USA (2007–2015), and associate at King & Spalding (1999–2004) . Company performance context during SDHC’s first full public year includes 2,867 homes closed, ASP ~$340k, home closing gross margin 26%, adjusted ROE 29%, inventory turnover 2.9x, and year-end liquidity of $22.4M cash with $219.8M undrawn credit capacity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| King & Spalding | Associate, Construction & Procurement | 1999–2004 | Foundational construction/contracts experience supporting later GC responsibilities |
| Beazer Homes USA, Inc. | Associate General Counsel & Chief Compliance Officer | 2007–2015 | Public homebuilder legal and compliance leadership in operationally complex environment |
| Habitat for Humanity in Atlanta, Inc. | Vice President & Chief Legal Officer | 2015–2018 | Nonprofit housing legal leadership; governance and risk oversight |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed in SDHC filings | — | — | No public company directorships or external board roles disclosed for Steele |
Fixed Compensation
| Metric | FY 2023 |
|---|---|
| Annual cash incentive bonus ($) | $160,000 |
| Non-Equity Incentive Plan Compensation ($) | $260,417 (includes annual cash incentive and any long-term cash incentive paid) |
| Total Compensation ($) | $544,955 |
Notes: 2023 bonuses were paid on Feb 29, 2024 . Base salary and target bonus % for Steele were not disclosed in the proxy/10-K excerpts reviewed.
Performance Compensation
| Metric | Weighting (%) | Target | Actual | Payout ($) | Vesting/Timing |
|---|---|---|---|---|---|
| Company net income (AIP) | 90% | Not disclosed | Not disclosed | Part of $160,000 annual cash bonus for FY 2023 | Paid Feb 29, 2024 |
| Individual performance goals (AIP) | 10% | Not disclosed | Not disclosed | Part of $160,000 annual cash bonus for FY 2023 | Paid Feb 29, 2024 |
Program design: For FY 2023, Steele’s AIP comprised 90% company net income and 10% individual goals; payout reported as $160,000 .
Equity Ownership & Alignment
- Beneficial ownership for Steele is not itemized in the proxy’s “Security Ownership of Certain Beneficial Owners and Management” table (which lists directors and named executive officers); no RSU/option holdings for Steele are disclosed in the materials reviewed .
- Anti-hedging: SDHC’s Insider Trading Policy prohibits hedging instruments for directors, officers, and employees (including entities they control) .
- Clawback: SDHC adopted a Dodd-Frank-compliant Policy for Recovery of Erroneously Awarded Compensation in connection with the IPO .
- Section 16 compliance: One late Form 4 was filed for Brett A. Steele in 2025 (reporting one transaction) .
Employment Terms
- No employment agreement, severance, or change-of-control terms are disclosed for Steele in the proxy; agreements disclosed pertain to CEO Gregory S. Bennett and CFO Russell Devendorf (three-year terms, auto-renewal, severance including salary, healthcare, pro-rated/target bonus, and certain vesting protections) .
- Non-competition covenant durations disclosed (two years post-termination) apply to Bennett and Devendorf; none disclosed for Steele .
Investment Implications
- Pay-for-performance alignment: Steele’s 2023 annual incentive was heavily tied to company net income (90% weighting) with an individual component (10%), indicating cash bonus alignment with profitability drivers .
- Selling pressure/vesting risk: No RSU/option grants or vesting schedules are disclosed for Steele; combined with anti-hedging and a clawback policy, this suggests limited structural pressure from equity vesting, but also limited disclosed “skin in the game” versus NEOs .
- Governance overlay: SDHC is a controlled company under NYSE rules, which may affect standard independence requirements for compensation governance; however, the Compensation Committee engaged Semler Brossy as an external consultant and met four times in 2024 .
- Monitoring flags: A late Form 4 in 2025 warrants ongoing monitoring of Steele’s transaction activity (timing, size, and pattern), though only one late filing is noted .
Overall: Steele’s compensation disclosure centers on cash incentives linked to net income, with robust anti-hedging/clawback policies in place. Absent disclosed equity grants/ownership and no published severance/change-of-control terms for Steele, investors should focus on ongoing bonus framework changes, any future equity awards, and insider transaction patterns within SDHC’s controlled-company structure .