ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 25, 2022, PulteGroup, Inc. issued a press release announcing its
financial results for its third quarter ended September 30, 2022. A copy of this
earnings press release is furnished as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated in Item 2.02 by reference.
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On October 25, 2022, PulteGroup, Inc. (the "Company") issued a press release
announcing that John J. Chadwick notified the Company that he intends to retire
as Executive Vice President and Chief Operating Officer of the Company, with his
last date of employment being April 21, 2023. Mr. Chadwick's outstanding equity
and long-term incentive awards will receive retirement vesting treatment under
the PulteGroup, Inc. Amended Retirement Policy, as described in the Company's
2022 Proxy Statement. Effective January 1, 2023 through the date of his
retirement, Mr. Chadwick will serve as Executive Vice President.
Brandon Jones has been promoted to Executive Vice President and Chief Operating
Officer, effective January 1, 2023. Mr. Jones, who is 48 years old, was
appointed the Company's Senior Vice President - Field Operations in 2021 and
previously held Division and Area leadership positions in the Company's Michigan
and Southeast operations since 2012.
In connection with the promotion and effective January 1, 2023, Mr. Jones'
annual base salary will be $600,000, his annual incentive bonus target will be
$900,000, and his long-term incentive bonus target will be $1,000,000. Mr. Jones
will also be subject to the Company's Executive Severance Policy, as described
in the Company's 2022 Proxy Statement.
There are no family relationships, as defined in Item 401 of Regulation S-K,
between Mr. Jones and any of the Company's directors, executive officers, or
persons nominated or chosen by the Company to become a director or executive
officer. There is no arrangement or understanding between Mr. Jones and any
other person pursuant to which Mr. Jones was appointed to his position. There
are no transactions in which Mr. Jones has an interest requiring disclosure
under Item 404(a) of Regulation S-K.
The press release is filed as Exhibit 99.2 to this Current Report on Form 8-K
and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
99.1 Third Quarter 2022 earnings press release dated October
2 5 , 2022.
99.2 Executive transition press release dated October 25, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
The information in Item 2.02 of this Current Report on Form 8-K, including the
earnings press release incorporated in such Item 2.02, shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor
shall it be incorporated by reference in any filing under the Securities Act of
1933, except as expressly set forth by specific reference in such filing.
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