SEC Form 4 · accession 0000795266-18-000021
KB HOME · KBH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas F Norton
Officer — SVP, Human Resources
Period of report
Feb 13, 2018
Accepted (ET)
Feb 15, 2018 · 5:32 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000795266
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 13, 2018 | M | 47,179 | $15.44 | A | 103,562 | D | |
| Common StockF1 | Feb 13, 2018 | S | 47,179 | $30.32 | D | 56,383 | D | |
| Common StockF2 | Feb 14, 2018 | A | 9,234 | $0.00 | A | 65,617 | D | |
| Common StockF3 | Feb 14, 2018 | F | 4,578 | $31.28 | D | 61,039 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualfied Stock Option (Right to Buy)F4 | $15.44 | Feb 13, 2018 | M | 47,179 | D | — | Oct 1, 2019 | Common Stock | 47,179 | 0 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.10 to $30.56, inclusive. The reporting person undertakes to provide to KB Home, any security holder of KB Home, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
- F2Represents shares of common stock granted pursuant to the vesting of performance-based restricted stock units ("PSUs") that were initially awarded to the reporting person on October 9, 2014. The management development and compensation committee of the issuer's board of directors determined the number of vested shares based on the issuer's achieving certain levels of cumulative adjusted earnings per share, average adjusted return on invested capital, and revenue growth (relative to a peer group) over the three-year period of December 1, 2014 to November 30, 2017, per the terms of the PSUs.
- F3Disposition of common stock to the issuer solely to cover tax withholding obligations arising from the grant of common stock pursuant to the above-described vesting of PSUs.
- F4The stock options vested in three equal installments on October 1, 2010, 2011 and 2012.