Invitation Homes (INVH) Proxy Filing summary

Executive summary

• Achieved 7.7% growth in total revenues, 6.4% growth in Core FFO per share, and 6.7% growth in AFFO per share year-over-year in 2024.

• Over 1,800 new homes constructed through partnerships, with a pipeline of 2,000+ additional homes and 1,500+ homes sold on the open market in 2024.

• Balance sheet strengthened: 83% of debt unsecured, 91% fixed or swapped to fixed, and 90% of homes unencumbered; no debt matures before 2027.

• Launched third-party property management, adding nearly 18,000 homes to the platform.

• Associates contributed 18,220 hours of paid volunteer service; expanded matching gift and skilled trades programs.

Voting matters and shareholder proposals

• Four proposals: elect ten directors for a one-year term, ratify Deloitte & Touche LLP as auditor, approve executive compensation (say-on-pay), and determine frequency of say-on-pay votes.

• Board recommends voting FOR all director nominees, FOR auditor ratification, FOR executive compensation, and ONE YEAR for say-on-pay frequency.

• Virtual annual meeting scheduled for May 15, 2025; record date is March 20, 2025.

Board of directors and corporate governance

• Board reduced from 11 to 10 members; six new directors and one new nominee added since 2018.

• 90% of director nominees are independent; average tenure is 4.9 years; Chairperson role is separate from CEO.

• Board committees: Audit, Compensation and Management Development, Nominating and Corporate Governance, and Investment and Finance.

• Annual board and committee evaluations, robust stock ownership guidelines, and limits on outside board service.

• Proxy access and written consent rights for shareholders; no stockholder rights plan.