Meritage Homes appoints Erin Lantz as independent director

By Bobby Samwell • Tuesday, October 15 10:20 • Permanent Link

Meritage Homes (NYSE:MTH) has appointed Erin Lantz as an independent director to its board of directors, effective October 14, 2024. With this appointment, the company's board size will increase to 11 directors. Lantz brings over 20 years of leadership experience in technology-related offerings and currently serves as the Chief Revenue Officer for Ethos, a fintech company specializing in life insurance.

The board also plans to consider Lantz for appointment to one or more board committees over the next several regularly scheduled board meetings. This move demonstrates the company’s commitment to ongoing board refreshment and enhancing its expertise and diversity of thought.

Additionally, the company announced that its board has approved declassifying the board of directors and intends to ask stockholders to vote at the 2025 annual meeting on a proposal to approve amendments to the company’s certificate of incorporation to effectuate the phased declassification of the board. This decision is in response to feedback from stockholders and in furtherance of the company’s previously disclosed refreshment initiative to transition longer-tenured directors over an orderly period of time.

The company plans to file a proxy statement with the Securities and Exchange Commission (SEC) and furnish it to its stockholders in connection with the declassification proposal. This statement will contain important information about the proposal as well as other matters, and stockholders are urged to read these materials when they become available.

The directors and executive officers of the company are expected to participate in the solicitation of proxies from the stockholders of Meritage Homes Corporation in connection with the declassification proposal. Notably, Steven J. Hilton, the Executive Chairman, beneficially owns 1.1% of the company’s outstanding common stock.

These developments indicate the company's proactive approach to governance best practices and its commitment to evolving its board composition, while leveraging the expertise of leaders like Erin Lantz to navigate the challenges and opportunities in the real estate and mortgage sectors. The market has reacted to these announcements by moving the company's shares 1.7% to a price of $200.16. Check out the company's full 8-K submission here.

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