Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-22

LGI Homes, Inc. (LGIH)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,182,051
Eric Lipar total, FY2025
1st
CEO pay percentile vs peers
50:1
CEO-to-median pay ratio
97.13%
Say-on-pay support, latest vote
Companies that benchmark against LGIH
14 companies name LGIH as a compensation peer

Each company listed discloses LGIH in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LGIH in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Eric Lipar$975,000$0$4,143,842$0$0$0$63,209$5,182,051
Chief Executive Officer and Chairman of the Board
Michael Snider650,00001,500,07300055,5752,205,648
President and Chief Operating Officer
Charles Merdian624,00001,400,05300036,7192,060,772
Chief Financial Officer and Treasurer
Scott Garber468,0000600,11900019,4161,087,535
General Counsel and Corporate Secretary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Eric Lipar$5,182,051$6,165,906$6,593,282−983,855
Michael Snider2,205,6483,070,6232,701,512−864,975
Charles Merdian2,060,7722,837,9112,444,105−777,139
Scott Garber1,087,5351,429,9681,233,552−342,433

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Scott GarberRSU2025-03-081,599$120,069
Eric LiparRSU2025-03-0811,037828,768
Michael SniderRSU2025-03-083,996300,060
Charles MerdianRSU2025-03-083,729280,011
Eric LiparPSU2025-03-0822,07444,14888,2963,315,073
Michael SniderPSU2025-03-087,99115,98131,9621,200,013
Charles MerdianPSU2025-03-087,45814,91629,8321,120,042
Scott GarberPSU2025-03-083,1976,39312,786480,050
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Scott Garber$120,069$480,050$080.0%
Eric Lipar828,7683,315,073080.0%
Michael Snider300,0601,200,013080.0%
Charles Merdian280,0111,120,042080.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Eric LiparRSU7,942$341,188
Michael SniderRSU3,996166,673
Scott GarberRSU83735,958
Charles MerdianRSU5,008215,144
Michael SniderRSU5,008215,144
Scott GarberRSU1,59966,694
Scott GarberRSU86337,074
Charles MerdianRSU2,23095,801
Michael SniderRSU10,062419,686
Eric LiparRSU29,6151,235,242
Eric LiparRSU11,037460,353
Charles MerdianRSU3,729155,537
Michael SniderRSU2,516108,087
Scott GarberRSU2,504107,572
Michael SniderRSU2,439104,779
Eric LiparRSU31,7661,324,960
Michael SniderRSU9,756406,923
Charles MerdianRSU9,199383,690
Charles MerdianRSU8,920372,053
Scott GarberRSU3,450143,900
Scott GarberRSU3,345139,520
Eric LiparRSU7,404318,076
Charles MerdianRSU2,30098,808
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation program directly links a substantial portion of annual executive compensation to our performance. These plans are designed to deliver highly competitive compensation for superior company performance. Likewise, when company performance falls short of expectations, these variable incentive programs deliver lower levels of compensation.

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantMeridian Compensation Partners LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-2314,294,282411,02910,93097.13%Passed
20252025-04-2415,771,958542,87310,52696.61%Passed
20242024-04-2517,160,304293,86110,23798.32%Passed
20232023-04-2715,882,612714,14029,20995.53%Passed
20222022-04-2817,638,069526,63727,98197.1%Passed
20212021-04-2918,139,536121,286243,51499.34%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-2397.13%a
20252025-04-2496.61%b
20242024-04-2598.32%c

a. Approved under the standard stated in the filing — “Abstentions will be counted toward the tabulation of the shares of our common stock entitled to vote on the matter and thus will have the same effect as a negative vote on the ratification of appointment of auditors (Proposal 2) and the approval of the compensation paid to the NEOs for 2025 (Proposal 3).”.

b. Approved under the standard stated in the filing — “Abstentions will be counted toward the tabulation of the shares of our common stock entitled to vote at the Annual Meeting on the ratification of the appointment of Ernst & Young and thus will have the same effect as a negative vote.”.

c. Approved under the standard stated in the filing — “Abstentions will be counted toward the tabulation of the shares of our common stock entitled to vote at the Annual Meeting on the ratification of the appointment of Ernst & Young and thus will have the same effect as a negative vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)50 : 1
CEO total compensation$5,182,051
Median employee compensation$103,539
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Bryan SansburyIndependent · Lead Independent Director · Compensation · Nominating and Corporate Governance$100,000$155,011$0$0$0$255,011
Ryan EdoneIndependent · Audit (Chair)95,000155,011000250,011
Maria SharpeIndependent · Compensation (Chair)95,000155,011000250,011
Steven SmithIndependent · Audit · Nominating and Corporate Governance (Chair)90,000155,011000245,011
Shailee ParikhIndependent · Audit75,000155,011000230,011
Robert VahradianIndependent · Nominating and Corporate Governance75,000155,011000230,011
Eric LiparEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer$155,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 20,000 / 15,000
Stock ownership guideline$375,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$530,000
Equity awards (grant-date value)$930,066
All other compensation$0
Total cost of the board$1,460,066

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies LGI Homes, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including LGI Homes, Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Hovnanian Enterprises, Inc.2025Ara Hovnanian$1,154,423$7,093,554$0$4,885,147$13,654,756
2Green Brick Partners, Inc.2025James Brickman1,600,0007,643,09604,145,04913,400,745
3Dream Finders Homes, Inc.2025Patrick Zalupski1,276,9234,836,76303,746,00010,227,930
4Taylor Morrison Home Corporation2025Sheryl Palmer1,075,0005,599,9571,399,9871,548,00010,075,397
5M/I Homes, Inc.2025Robert Schottenstein1,100,0004,945,34303,506,2509,914,773
6Tri Pointe Group, Inc.2025Douglas Bauer1,000,0005,999,98101,635,0008,677,081
7Century Communities, Inc.2025Robert J. Francescon1,000,0004,622,11902,784,0038,510,773
8Meritage Homes Corporation2025Phillippe Lord1,000,0005,697,08501,352,0008,114,286
9KB Home2025Robert McGibney912,5003,499,97502,826,8397,311,553
10Beazer Homes USA, Inc.2025Allan Merrill1,064,5253,278,49201,211,2806,367,213
11LGI Homes, Inc.2025Eric Lipar975,0004,143,842005,182,051

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
LGI Homes, Inc.not disclosedPSU 80 · RSU 20NoMeridian Compensation Partners LLC
Beazer Homes USA, Inc.not disclosedPSU 40 · Cash LTI 30 · RSU 30NoPearl Meyer
Century Communities, Inc.94%PSU 100NoWealthPoint
Dream Finders Homes, Inc.67%RSU 100not disclosedCompensation Advisory Partners (CAP)
Green Brick Partners, Inc.not disclosedPSU 67 · RSU 33Yes — Relative TSR during a 3-Year PeriodF.W. Cook & Co., Inc.
Hovnanian Enterprises, Inc.not disclosednot disclosedNoFW Cook
KB Homenot disclosedPSU 100NoFW Cook
M/I Homes, Inc.94%not disclosedNoWillis Towers Watson (WTW)
Meritage Homes Corporation41.6%PSU 50 · RSU 50NoPearl Meyer
Taylor Morrison Home Corporation183%PSU 40 · RSU 40 · Options 20NoSemler Brossy Consulting Group, LLC
Tri Pointe Group, Inc.65.4%PSU 60 · RSU 40NoExequity

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at LGI Homes, Inc. in fiscal 2025?
As disclosed, the highest-paid executive was Eric Lipar, Chief Executive Officer and Chairman of the Board, with total compensation of $5,182,051.
How does LGI Homes, Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows the CEO's pay was at the 1st percentile of the disclosed peer group.
What is LGI Homes, Inc.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 50:1.
How did shareholders vote on LGI Homes, Inc.'s executive compensation?
Shareholders approved the executive compensation plan with 97.13% support in the latest vote.
How much does LGI Homes, Inc. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $1,460,066.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Eric LiparDEF 14A2026-03-130001580670-26-000030Section “Summary Executive Compensation Table” · page 44. As printed: 5,182,051. Filing ↗machine: span 563461–563470
2Section 01, Michael SniderDEF 14A2026-03-130001580670-26-000030Section “Summary Executive Compensation Table” · page 44. As printed: 2,205,648. Filing ↗machine: span 573542–573551
3Section 01, Charles MerdianDEF 14A2026-03-130001580670-26-000030Section “Summary Executive Compensation Table” · page 44. As printed: 2,060,772. Filing ↗machine: span 583031–583040
4Section 01, Scott GarberDEF 14A2026-03-130001580670-26-000030Section “Summary Executive Compensation Table” · page 44. As printed: 1,087,535. Filing ↗machine: span 593047–593056
5Section 03, Scott Garber RSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r14 · c12 · span 699953–699960
6Section 03, Eric Lipar RSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r5 · c12 · span 680624–680631
7Section 03, Michael Snider RSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r8 · c12 · span 687010–687017
8Section 03, Charles Merdian RSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r11 · c12 · span 693572–693579
9Section 03, Eric Lipar PSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r4 · c9 · span 678503–678509
10Section 03, Michael Snider PSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r7 · c9 · span 684940–684946
11Section 03, Charles Merdian PSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r10 · c9 · span 691452–691458
12Section 03, Scott Garber PSUDEF 14A2026-03-130001580670-26-000030Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t48 · r13 · c9 · span 697885–697891
13Section 07, pay ratioDEF 14A2026-03-130001580670-26-000030Section “CEO Pay Ratio”. As printed: 50 : 1. Filing ↗machine: span 905712–905714
14Section 08, Bryan SansburyDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 255,011. Filing ↗machine: t30 · r4 · c13 · span 308116–308123
15Section 08, Ryan EdoneDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 250,011. Filing ↗machine: t30 · r2 · c14 · span 302892–302899
16Section 08, Maria SharpeDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 250,011. Filing ↗machine: t30 · r5 · c14 · span 310794–310801
17Section 08, Steven SmithDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 245,011. Filing ↗machine: t30 · r6 · c14 · span 313472–313479
18Section 08, Shailee ParikhDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 230,011. Filing ↗machine: t30 · r3 · c13 · span 305518–305525
19Section 08, Robert VahradianDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 230,011. Filing ↗machine: t30 · r7 · c14 · span 316154–316161
20Section 08, Eric LiparDEF 14A2026-03-130001580670-26-000030Section “Director Compensation”. As printed: 0. Filing ↗
21Section 06, 2026 voteForm 8-K2026-04-270001580670-26-000039Item 5.07 · say-on-pay result. As reported: 97.13% (votes for as printed: 14,294,282). Filing ↗
22Section 06, 2025 voteForm 8-K2025-04-290001580670-25-000042Item 5.07 · say-on-pay result. As reported: 96.61% (votes for as printed: 15,771,958). Filing ↗
23Section 06, 2024 voteForm 8-K2024-04-300001580670-24-000031Item 5.07 · say-on-pay result. As reported: 98.32% (votes for as printed: 17,160,304). Filing ↗
24Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
25Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
26Section 09b board cost (computed)ComputedcomputedCash 530,000 + equity 930,066 + all other 0 = 1,460,066, summed across the director compensation table rows.machine: formula: Σ = 1,460,066
27Hovnanian Enterprises, Inc., Section 10b CEO totalDEF 14A2026-02-090001140361-26-004409CEO total compensation as printed in Hovnanian Enterprises, Inc.'s own proxy. As printed: 13,654,756. Filing ↗machine: r4 · c9 · span 793663–793673
28Green Brick Partners, Inc., Section 10b CEO totalDEF 14A2026-05-220001628280-26-037542CEO total compensation as printed in Green Brick Partners, Inc.'s own proxy. As printed: 13,400,745. Filing ↗machine: r2 · c8 · span 1044362–1044372
29Dream Finders Homes, Inc., Section 10b CEO totalDEF 14A2026-04-160001628280-26-025557CEO total compensation as printed in Dream Finders Homes, Inc.'s own proxy. As printed: 10,227,930. Filing ↗machine: r2 · c42 · span 850530–850540
30Taylor Morrison Home Corporation, Section 10b CEO totalDEF 14A2026-04-100001140361-26-014261CEO total compensation as printed in Taylor Morrison Home Corporation's own proxy. As printed: 10,075,397. Filing ↗machine: t176 · r2 · c27 · span 1133718–1133728
31M/I Homes, Inc., Section 10b CEO totalDEF 14A2026-04-100001193125-26-150356CEO total compensation as printed in M/I Homes, Inc.'s own proxy. As printed: 9,914,773. Filing ↗machine: t145 · r2 · c31 · span 415984–415993
32Tri Pointe Group, Inc., Section 10b CEO totalDEF 14A2026-03-060001561680-26-000013CEO total compensation as printed in Tri Pointe Group, Inc.'s own proxy. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
33Century Communities, Inc., Section 10b CEO totalDEF 14A2026-03-250001140361-26-011011CEO total compensation as printed in Century Communities, Inc.'s own proxy. As printed: 8,510,773. Filing ↗machine: t194 · r4 · c14 · span 1089521–1089530
34Meritage Homes Corporation, Section 10b CEO totalDEF 14A2026-04-070000833079-26-000098CEO total compensation as printed in Meritage Homes Corporation's own proxy. As printed: 8,114,286. Filing ↗machine: t119 · r2 · c19 · span 828485–828494
35KB Home, Section 10b CEO totalDEF 14A2026-03-130001308179-26-000068CEO total compensation as printed in KB Home's own proxy. As printed: 7,311,553. Filing ↗machine: t157 · r7 · c14 · span 1740061–1740070
36Beazer Homes USA, Inc., Section 10b CEO totalDEF 14A2025-12-220000915840-25-000095CEO total compensation as printed in Beazer Homes USA, Inc.'s own proxy. As printed: 6,367,213. Filing ↗machine: r2 · c24 · span 1008801–1008810
37LGI Homes, Inc. (subject), Section 10b CEO totalDEF 14A2026-03-130001580670-26-000030CEO total compensation as printed in LGI Homes, Inc.'s own proxy. As printed: 5,182,051. Filing ↗machine: span 563461–563470
38Section 10a, KB Home reciprocityDEF 14A0001308179-26-000068KB Home's most recent proxy was read; its disclosed peer group does not include LGI Homes, Inc.. Filing ↗
39Section 10a, Green Brick Partners, Inc. reciprocityDEF 14A0001628280-26-037542Green Brick Partners, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Meritage Homes Corporation reciprocityDEF 14A0000833079-26-000098Meritage Homes Corporation names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
41Section 10a, M/I Homes, Inc. reciprocityDEF 14A0001193125-26-150356M/I Homes, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Taylor Morrison Home Corporation reciprocityDEF 14A0001140361-26-014261Taylor Morrison Home Corporation's most recent proxy was read; its disclosed peer group does not include LGI Homes, Inc.. Filing ↗
43Section 10a, Tri Pointe Group, Inc. reciprocityDEF 14A0001561680-26-000013Tri Pointe Group, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, Beazer Homes USA, Inc. reciprocityDEF 14A0000915840-25-000095Beazer Homes USA, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, Dream Finders Homes, Inc. reciprocityDEF 14A0001628280-26-025557Dream Finders Homes, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, Century Communities, Inc. reciprocityDEF 14A0001140361-26-011011Century Communities, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Hovnanian Enterprises, Inc. reciprocityDEF 14A0001140361-26-004409Hovnanian Enterprises, Inc. names LGI Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗