KBH 10-K Annual Report Nov. 30, 2024 | Alphaminr

KBH 10-K Fiscal year ended Nov. 30, 2024

KB HOME
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TABLE OF CONTENTS
Part IprintItem 1. BusinessprintItem 1A Risk FactorsprintItem 7 Management S Discussion andprintItem 1A. Risk FactorsprintItem 1 BusinessprintItem 1B. Unresolved Staff CommentsprintItem 1C. CybersecurityprintItem 2. PropertiesprintItem 3. Legal ProceedingsprintItem 4. Mine Safety DisclosuresprintPart IIprintItem 5. Market For Registrant S Common Equity, Related Stockholder Matters andprintItem 6. [reserved]printItem 7. Management S Discussion and Analysis Of Financial Condition andprintItem 7 Management S DiscussionprintItem 7A. Quantitative and Qualitative Disclosures About Market RiskprintItem 8. Financial Statements and Supplementary DataprintNote 1. Summary Of Significant Accounting PoliciesprintNote 2. Segment InformationprintNote 1 Summary Of Significant Accounting Policies. The Results Of Each Reporting Segment Are Not Necessarily Indicative OfprintNote 3. Financial ServicesprintNote 4. Earnings Per ShareprintNote 5. ReceivablesprintNote 6. InventoriesprintNote 7. Inventory Impairments and Land Option Contract AbandonmentsprintNote 8. Variable Interest EntitiesprintNote 9. Investments in Unconsolidated Joint VenturesprintNote 10. Property and Equipment, NetprintNote 11. Other AssetsprintNote 12. Accrued Expenses and Other LiabilitiesprintNote 13. LeasesprintNote 14. Income TaxesprintNote 15. Notes PayableprintNote 16. Fair Value DisclosuresprintNote 17. Commitments and ContingenciesprintNote 18. Legal MattersprintNote 19. Stockholders EquityprintNote 20. Accumulated Other Comprehensive LossprintNote 21. Employee Benefit and Stock PlansprintNote 22. Postretirement BenefitsprintNote 23. Supplemental Disclosure To Consolidated Statements Of Cash FlowsprintItem 9. Changes in and Disagreements with Accountants on Accounting and FinancialprintItem 9A. Controls and ProceduresprintItem 9B. Other InformationprintItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsprintPart IIIprintItem 10. Directors, Executive Officers and Corporate GovernanceprintItem 11. Executive CompensationprintItem 12. Security Ownership Of Certain Beneficial Owners and Management andprintItem 13. Certain Relationships and Related Transactions, and Director IndependenceprintItem 14. Principal Accountant Fees and ServicesprintPart IVprintItem 15. Exhibits and Financial Statement SchedulesprintItem 16. Form 10-k Summaryprint

Exhibits

3.1 Restated Certificate of Incorporation, as amended, filed as an exhibit to our Current Report on Form8-K datedApril7, 2009 (File No. 001-09195), is incorporated by reference herein. 3.2 Certificate of Correction of Restated Certificate of Incorporation, as amended. 3.3 Amended and Restated By-Laws of KB Home, as amended, filed as exhibit to our Current Report on Form 8-K dated April 18, 2024 (File No. 001-09195), is incorporated by reference herein. 4.2 Fifth Supplemental Indenture, dated August17, 2007, relating to our Senior Notes by and between us, theGuarantors named therein, and the Trustee, filed as an exhibit to our Current Report on Form8-K datedAugust22, 2007 (File No. 001-09195), is incorporated by reference herein. 4.3 Sixth Supplemental Indenture, dated as of January 30, 2012, relating to our Senior Notes by and between us,the Guarantors named therein, and the Trustee, filed as an exhibit to our Current Report on Form 8-K datedFebruary 2, 2012 (File No. 001-09195), is incorporated by reference herein. 4.4 Seventh Supplemental Indenture, dated as of January 11, 2013, relating to our Senior Notes by and among us,the Guarantors named therein, and the Trustee, filed as an exhibit to our Current Report on Form 8-K datedJanuary 11, 2013 (File No. 001-09195), is incorporated by reference herein. 4.5 Eighth Supplemental Indenture, dated as of March 12, 2013, by and among us, the Guarantors party thereto,the Additional Guarantors named therein and U.S. Bank National Association, as Trustee, filed as an exhibit toour Quarterly Report on Form 10-Q for the quarter ended May 31, 2013 (File No. 001-09195), is incorporatedby reference herein. 4.6 Ninth Supplemental Indenture, dated as of February 28, 2014, by and among us, the Guarantors party thereto,the Additional Guarantors named therein and U.S. Bank National Association, as Trustee, filed as an exhibit toour Post-Effective Amendment No. 4 to Form S-3 Registration Statement (No.333-176930), is incorporatedby reference herein. 4.7 Tenth Supplemental Indenture, dated as of January 22, 2019, by and among us, the Guarantors party thereto,the Additional Guarantors named therein and U.S. Bank National Association, as Trustee, filed as an exhibit toour 2018 Annual Report on Form 10-K (File No. 001-09195), is incorporated by reference herein. 4.8 Form of 6.875% Senior Notes due 2027, filed as an exhibit to our Current Report on Form 8-K dated February20, 2019 (File No. 001-09195), is incorporated by reference herein. 4.9 Form of officers certificates and guarantors certificates establishing the form and terms of the 6.875% SeniorNotes due 2027, filed as an exhibit to our Current Report on Form 8-K dated February 20, 2019 (File No.001-09195), is incorporated by reference herein. 4.10 Form of 4.800% Senior Notes due 2029, filed as an exhibit to our Current Report on Form 8-K datedNovember 4, 2019 (File No. 001-09195), is incorporated by reference herein. 4.11 Form of officers certificates and guarantors certificates establishing the form and terms of the 4.800% SeniorNotes due 2029, filed as an exhibit to our Current Report on Form 8-K dated November 4, 2019 (File No.001-09195), is incorporated by reference herein. 4.12 Form of 4.00% Senior Notes due 2031, filed as an exhibit to our Current Report on Form 8-K dated June 9,2021 (File No. 001-09195), is incorporated by reference herein. 4.13 Form of officers' certificate and guarantors' certificates establishing the form and terms of the 4.00% SeniorNotes due 2031, filed as an exhibit to our Current Report on Form 8-K dated June 9, 2021 (File No.001-09195), is incorporated by reference herein. 4.14 Description of KB Home Common Stock Registered Under Section 12 of the Securities Exchange Act of1934, filed as an exhibit to our 2019 Annual Report on Form 10-K (File No. 001-09195), is incorporated byreference herein. 4.15 Eleventh Supplemental Indenture, dated as of January 20, 2022, by and among us, the Guarantors partythereto, the Additional Guarantors named therein and U.S. Bank National Association, as Trustee, filed as anexhibit to Post-Effective Amendment No. 1 to the Registration Statement on Form S-3 (Registration StatementNo. 333-239778) (File No. 001-09195), dated February 4, 2022, is incorporated by reference herein. 4.16 Form of 7.250% Senior Notes due 2030, filed as an exhibit to our Current Report on Form 8-K dated June 22,2022 (File No. 001-09195), is incorporated by reference herein. 4.17 Form of officers certificate and guarantors certificates establishing the form and terms of the 7.250% SeniorNotes due 2030, filed as an exhibit to our Current Report on Form 8-K dated June 22, 2022 (File No.001-09195), is incorporated by reference herein. 4.18 Twelfth Supplemental Indenture, dated as of January 19, 2023, by and among us, the Guarantors party thereto,the Additional Guarantor named therein and Regions Bank, as Trustee, filed as exhibit to our 2022 AnnualReport on Form 10-K (File No. 001-09195), is incorporated by reference herein. 10.3* KB Home Nonqualified Deferred Compensation Plan with respect to deferrals on and after January1, 2005,effective January1, 2009, filed as an exhibit to our 2008 Annual Report on Form10-K (File No. 001-09195),is incorporated by reference herein. 10.4* KB Home Change in Control Severance Plan, as amended and restated effective January1, 2009, filed as anexhibit to our 2008 Annual Report on Form10-K (File No. 001-09195), is incorporated by reference herein. 10.6* Amendment No.1 to the KB Home Death Benefit Only Plan, effective as of January1, 2009, filed as anexhibit to our 2008 Annual Report on Form10-K (File No. 001-09195), is incorporated by reference herein. 10.7* KBHome Retirement Plan, as amended and restated effective January1, 2009, filed as an exhibit to our 2008Annual Report on Form10-K (File No. 001-09195), is incorporated by reference herein. 10.8* Employment Agreement of Jeffrey T.Mezger, dated February28, 2007, filed as an exhibit to our CurrentReport on Form8-K dated March6, 2007 (File No. 001-09195), is incorporated by reference herein. 10.9* Amendment to the Employment Agreement of Jeffrey T. Mezger, dated December24, 2008, filed as anexhibit to our 2008 Annual Report on Form10-K (File No. 001-09195), is incorporated by reference herein. 10.10* Policy Regarding Stockholder Approval of Certain Severance Payments, adopted July10, 2008, filed as anexhibit to our Current Report on Form8-K dated July15, 2008 (File No. 001-09195), is incorporated byreference herein. 10.11* KB Home Executive Severance Plan, filed as an exhibit to our Quarterly Report on Form10-Q for the quarterended August31, 2008 (File No. 001-09195), is incorporated by reference herein. 10.12* Executive Severance Benefit Decisions, filed as an exhibit to our Quarterly Report on Form10-Q for thequarter ended February 28, 2011 (File No. 001-09195), is incorporated by reference herein. 10.13* KB Home 2014 Equity Incentive Plan, filed as an exhibit to our Quarterly Report on Form 10-Q for thequarter ended February 28, 2014 (File No. 001-09195), is incorporated by reference herein. 10.14* Form of Stock Option Agreement under the KB Home 2014 Equity Incentive Plan, filed as an exhibit to ourCurrent Report on Form 8-K dated October 14, 2014 (File No. 001-09195), is incorporated by referenceherein. 10.15* Form of Performance Cash Award Agreement under the KB Home 2014 Equity Incentive Plan, filed as anexhibit to our Current Report on Form 8-K dated October 14, 2014 (File No. 001-09195), is incorporated byreference herein. 10.16* Form of Restricted Cash Award Agreement under the KB Home 2014 Equity Incentive Plan, filed as anexhibit to our Current Report on Form 8-K dated October 14, 2014 (File No. 001-09195), is incorporated byreference herein. 10.17* Amended KB Home 2014 Equity Incentive Plan, effective April 7, 2016, filed as an exhibit to our QuarterlyReport on Form 10-Q for the quarter ended May 31, 2016 (File No. 001-09195), is incorporated by referenceherein. 10.18* Form of Restricted Stock Agreement under the Amended KB Home 2014 Equity Incentive Plan, filed as anexhibit to our 2018 Annual Report on Form 10-K (File No. 001-09195), is incorporated by reference herein. 10.19 Fifth Amended and Restated KB Home Non-Employee Directors Compensation Plan, effective as of July 11,2019, filed as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended August 31, 2019 (FileNo. 001-09195), is incorporated by reference herein. 10.20* Form of Performance-Based Restricted Stock Unit Award Agreement under the Amended KB Home 2014Equity Incentive Plan, filed as an exhibit to our Current Report on Form 8-K dated October 13, 2020 (File No.001-09195), is incorporated by reference herein. 10.21 Second Amendment to the KB Home Nonqualified Deferred Compensation Plan, effective December 1, 2020,filed as an exhibit to our 2020 Annual Report on Form 10-K (File No. 001-09195), is incorporated byreference herein. 10.22 Fourth Amended and Restated Revolving Loan Agreement, dated February 18, 2022, among us, the banksparty thereto and Citibank N.A., as Administrative Agent, filed as an exhibit to our Quarterly Report on Form10-Q for the quarter ended February 28, 2022 (File No. 001-09195), is incorporated by reference herein. 10.23 Term Loan Agreement, dated as of August 25, 2022, among us, the banks party thereto, and Wells FargoBank, National Association, as Administrative Agent, filed as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended August 31, 2022 (File No. 001-09195), is incorporated by reference herein. 10.24* Amended and Restated KB Home 2014 Equity Incentive Plan, effective April 20, 2023, filed as an exhibit toour Quarterly Report on Form 10-Q for the quarter ended May 31, 2023 (File No. 001-09195), is incorporatedby reference herein. 10.25* Amended and Restated KB Home 2014 Equity Incentive Plan Performance-Based Restricted Stock UnitAward Agreement, filed as an exhibit to our Current Report on Form 8-K (File No. 001-09195) dated October11, 2023, is incorporated by reference herein. 10.26* Amended and Restated KB Home 2014 Equity Incentive Plan Restricted Stock Award Agreement, filed as anexhibit to our Current Report on Form 8-K (File No. 001-09195) dated October 11, 2023, is incorporated byreference herein. 10.27* Form of Indemnification Agreement, filed as an exhibit to our Current Report on Form 8-K dated January 17,2024 (File No. 001-09195), is incorporated by reference herein. 19.1 Policy on Transactions in Company Securities. 21 Subsidiaries of the Registrant. 22 List of Guarantor Subsidiaries. 23 Consent of Independent Registered Public Accounting Firm. 31.1 Certification of Jeffrey T. Mezger, Chairman and Chief Executive Officer of KBHome Pursuant toSection302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Jeff J. Kaminski, Executive Vice President and Chief Financial Officer of KB Home Pursuantto Section302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of Jeffrey T. Mezger, Chairman and Chief Executive Officer of KBHome Pursuant to 18U.S.C.Section1350, as Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification of Jeff J. Kaminski, Executive Vice President and Chief Financial Officer of KB Home Pursuantto 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 97.1 KB Home Compensation Recovery Policy, filed as an exhibit to our 2023 Annual Report on Form 10-K (FileNo. 001-09195), is incorporated by reference herein.