D.R. Horton (DHI) Proxy Filing summary

Executive summary

• Fiscal 2024 saw strong performance: 93,660 homes closed, revenue of $36.8B, pre-tax income of $6.3B, and EPS up 4% to $14.34.

• Shareholder returns ranked in the top 25% of S&P 500 over 3, 5, and 10 years; $2.2B cash from operations, with nearly all returned to shareholders via buybacks and dividends.

• Board composition refreshed with three new independent directors in August 2024; succession plan executed following the founder's passing.

• Commitment to affordable housing, strong balance sheet, and disciplined capital allocation highlighted.

Voting matters and shareholder proposals

• Election of nine director nominees for one-year terms.

• Advisory vote on executive compensation (say-on-pay).

• Ratification of Ernst & Young LLP as independent auditor for fiscal 2025.

• Procedures for shareholder proposals and director nominations for the 2026 meeting outlined.

Board of directors and corporate governance

• Seven of nine director nominees are independent; three are women, one is ethnically diverse.

• Board leadership separated between Executive Chairman and CEO; Presiding Director leads independent sessions.

• Annual board and committee performance reviews; active CEO and executive succession planning.

• Proxy access and majority vote standard in place; no poison pill.