Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-02

Smith Douglas Homes Corp. (SDHC)

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.

$3,335,083
Gregory Bennett total, FY2025
17th
CEO pay percentile vs peers
CEO-to-median pay ratio
Say-on-pay support, latest vote
Companies that benchmark against SDHC
2 companies name SDHC as a compensation peer

Each company listed discloses SDHC 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 SDHC 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
Gregory Bennett$1,000,000$600,000$1,627,361$0$87,428$0$20,294$3,335,083
President, Chief Executive Officer, & Vice Chairman
Russell Devendorf750,000335,573406,8400335,536014,9001,842,849
Executive Vice President & Chief Financial Officer
Thomas Bradbury1,000,000250,00000003,2431,253,243
Executive Chairman

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
Gregory Bennett$3,335,083$6,287,248$2,091,703−2,952,165
Russell Devendorf1,842,8497,979,7311,853,187−6,136,882
Thomas Bradbury1,253,2431,228,573+24,670

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

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Russell DevendorfSee Remarks2026-05-20A2,000$11$21,760CommonForm 4 ↗
Jeffrey T. JacksonDirector2026-06-04A10,00800CommonForm 4 ↗
Julie BradburyDirector2026-06-04A10,00800CommonForm 4 ↗
Neill B. FaucettDirector2026-06-04A10,00800CommonForm 4 ↗
George E. Perdue IIIDirector2026-06-04A10,00800CommonForm 4 ↗
Janice E. WalkerDirector2026-06-04A10,00800CommonForm 4 ↗
Neil B. WedewerDirector2026-06-04A10,00800CommonForm 4 ↗
Neill B. FaucettDirector2026-07-01A1,6121625,002CommonForm 4 ↗
Jeffrey T. JacksonDirector2026-07-01A2,0151631,253CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Gregory BennettPSU2025-03-2024,260$500,000
Gregory BennettRSU2025-03-2097,0401,999,994
Russell DevendorfRSU29,715375,000
Russell DevendorfRSU2025-03-2024,260499,999
Russell DevendorfPSU2025-03-206,065125,000
Gregory BennettRSU133,7171,687,500
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Gregory Bennett$3,687,494$500,000$011.9%
Russell Devendorf874,999125,000012.5%

% 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
Russell DevendorfRSU238,095$3,992,853
Russell DevendorfRSU24,260406,840
Gregory BennettRSU97,0401,627,361
Russell DevendorfRSU3,03350,855
Gregory BennettRSU12,130203,420
05

Incentive-plan design — the Compensation Discussion & Analysis

Smith Douglas Homes provides executive compensation consisting of base salary, annual cash incentive bonuses, and long-term equity incentive awards designed to attract, retain, and motivate executive officers. Compensation is intended to reflect each executive's skill set, experience, role, and responsibilities, with annual incentives tied to Company net income, operational goals, and a discretionary component, and long-term incentives tied to relative total shareholder return.

CEO STI target (% of salary)300%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingfalse
07

CEO pay ratio

Ratio (CEO : median employee)
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jeffrey T. JacksonIndependent · Lead Independent Director · Audit · Compensation (Chair)$125,000$130,009$0$0$0$255,009
Neill B. FaucettIndependent · Audit (Chair) · Compensation100,000130,009000230,009
Neil B. WedewerIndependent · Compensation · Nominating/Governance (Chair)100,000130,009000230,009
Janice E. WalkerIndependent · Audit · Nominating/Governance90,000130,009000220,009
Julie M. BradburyIndependent · Nominating/Governance85,000130,009000215,009
George E. Perdue IIIIndependent80,000130,009000210,009
Gregory S. BennettEmployee director · Partial-year service00000
Thomas L. BradburyEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$70,000
Annual equity retainer$100,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$580,000
Equity awards (grant-date value)$780,054
All other compensation$0
Total cost of the board$1,360,054

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 Smith Douglas Homes Corp. 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 Smith Douglas Homes Corp..

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 Enterprises2025Ara Hovnanian$1,154,423$7,093,554$0$4,885,147$13,654,756
2Green Brick Partners2025James Brickman1,600,0007,643,09604,145,04913,400,745
3Dream Finders Homes2025Patrick Zalupski1,276,9234,836,76303,746,00010,227,930
4M/I Homes2025Robert Schottenstein1,100,0004,945,34303,506,2509,914,773
5Tri Pointe Homes2025Douglas Bauer1,000,0005,999,98101,635,0008,677,081
6Century Communities2025Robert J. Francescon1,000,0004,622,11902,784,0038,510,773
7Meritage Homes2025Phillippe Lord1,000,0005,697,08501,352,0008,114,286
8KB Home2025Robert McGibney912,5003,499,97502,826,8397,311,553
9Beazer Homes USA2025Allan Merrill1,064,5253,278,49201,211,2806,367,213
10LGI Homes2025Eric Lipar975,0004,143,842005,182,051
11Smith Douglas Homes Corp.2025Gregory Bennett1,000,0001,627,361087,4283,335,083
12Landsea Homes Corporation2023John Ho800,000001,692,0002,512,652
13United Homes Group2024James Pirrello103,8460167,5950388,884

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
Smith Douglas Homes Corp.not disclosednot disclosedYes — total shareholder return (TSR) compared to the TSR of the companies in the selected peer groupSemler Brossy
Beazer Homes USAnot disclosedPSU 40 · Cash LTI 30 · RSU 30NoPearl Meyer
Century Communities94%PSU 100NoWealthPoint
Dream Finders Homes67%RSU 100not disclosedCompensation Advisory Partners (CAP)
Green Brick Partnersnot disclosedPSU 67 · RSU 33Yes — Relative TSR during a 3-Year PeriodF.W. Cook & Co., Inc.
Hovnanian Enterprisesnot disclosednot disclosedNoFW Cook
KB Homenot disclosedPSU 100NoFW Cook
Landsea Homes Corporation141%PSU 60 · RSU 40NoPearl Meyer
LGI Homesnot disclosedPSU 80 · RSU 20NoMeridian Compensation Partners LLC
M/I Homes94%not disclosedNoWillis Towers Watson (WTW)
Meritage Homes41.6%PSU 50 · RSU 50NoPearl Meyer
Tri Pointe Homes65.4%PSU 60 · RSU 40NoExequity
United Homes Groupnot disclosednot disclosedNoWealthPoint, LLC

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 Smith Douglas Homes Corp. in fiscal 2025?
Gregory Bennett, serving as President, Chief Executive Officer, & Vice Chairman, received total compensation of $3,335,083 in fiscal 2025.
How does Smith Douglas Homes Corp.'s chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay falls at the 17th percentile of the disclosed peer group.
What is Smith Douglas Homes Corp.'s CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this extract.
How did shareholders vote on Smith Douglas Homes Corp.'s executive compensation?
Shareholder support for the executive compensation plan is not disclosed in this extract.
How much does Smith Douglas Homes Corp. spend in total on board compensation for fiscal 2025?
Total board compensation for fiscal 2025 was $1,360,054.

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, Gregory BennettDEF 14A2026-04-220001628280-26-026561Section “Summary Compensation Table”. As printed: 3,335,083. Filing ↗machine: r2 · c42 · span 236441–236450
2Section 01, Russell DevendorfDEF 14A2026-04-220001628280-26-026561Section “Summary Compensation Table”. As printed: 1,842,849. Filing ↗machine: r6 · c42 · span 248572–248581
3Section 01, Thomas BradburyDEF 14A2026-04-220001628280-26-026561Section “Summary Compensation Table”. As printed: 1,253,243. Filing ↗machine: r4 · c42 · span 242546–242555
4Section 03, Gregory Bennett PSUDEF 14A2026-04-220001628280-26-026561Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 269282–269289
5Section 03, Gregory Bennett RSUDEF 14A2026-04-220001628280-26-026561Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t12 · r3 · c2 · span 282813–282819
6Section 03, Russell Devendorf RSUDEF 14A2026-04-220001628280-26-026561Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 268050–268057
7Section 03, Russell Devendorf RSUDEF 14A2026-04-220001628280-26-026561Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 269339–269345
8Section 03, Russell Devendorf PSUDEF 14A0001628280-26-026561Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Gregory Bennett RSUDEF 14A2026-04-220001628280-26-026561Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: span 268035–268044
10Section 07, pay ratio10-K2026-03-120001628280-26-017245Section “CEO Pay Ratio”. As printed: —. Filing ↗
11Section 08, Jeffrey T. JacksonDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 255,009. Filing ↗machine: t14 · r4 · c8 · span 321544–321551
12Section 08, Neill B. FaucettDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 230,009. Filing ↗machine: t14 · r3 · c8 · span 320076–320083
13Section 08, Neil B. WedewerDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 230,009. Filing ↗machine: t14 · r7 · c8 · span 325943–325950
14Section 08, Janice E. WalkerDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 220,009. Filing ↗machine: t14 · r6 · c8 · span 324478–324485
15Section 08, Julie M. BradburyDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 215,009. Filing ↗machine: t14 · r2 · c8 · span 318584–318591
16Section 08, George E. Perdue IIIDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 210,009. Filing ↗machine: t14 · r5 · c8 · span 323013–323020
17Section 08, Gregory S. BennettDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 0. Filing ↗
18Section 08, Thomas L. BradburyDEF 14A2026-04-220001628280-26-026561Section “Director Compensation”. As printed: 0. Filing ↗
19Section 02, Russell Devendorf 2026-05-20Form 42026-05-220001628280-26-037607Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Jeffrey T. Jackson 2026-06-04Form 42026-06-080001628280-26-041696Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Julie Bradbury 2026-06-04Form 42026-06-080001628280-26-041695Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Neill B. Faucett 2026-06-04Form 42026-06-080001628280-26-041692Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, George E. Perdue III 2026-06-04Form 42026-06-080001628280-26-041693Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Janice E. Walker 2026-06-04Form 42026-06-080001628280-26-041691Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Neil B. Wedewer 2026-06-04Form 42026-06-080001628280-26-041694Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Neill B. Faucett 2026-07-01Form 42026-07-020001628280-26-046904Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Jeffrey T. Jackson 2026-07-01Form 42026-07-020001628280-26-046903Insider equity transaction reported since the proxy statement. Filing ↗
28Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 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
30Section 09b board cost (computed)ComputedcomputedCash 580,000 + equity 780,054 + all other 0 = 1,360,054, summed across the director compensation table rows.machine: formula: Σ = 1,360,054
31Hovnanian Enterprises, Section 10b CEO totalDEF 14A2026-02-090001140361-26-004409CEO total compensation as printed in Hovnanian Enterprises's own proxy. As printed: 13,654,756. Filing ↗machine: r4 · c9 · span 793663–793673
32Green Brick Partners, Section 10b CEO totalDEF 14A2026-05-220001628280-26-037542CEO total compensation as printed in Green Brick Partners's own proxy. As printed: 13,400,745. Filing ↗machine: r2 · c8 · span 1044362–1044372
33Dream Finders Homes, Section 10b CEO totalDEF 14A2026-04-160001628280-26-025557CEO total compensation as printed in Dream Finders Homes's own proxy. As printed: 10,227,930. Filing ↗machine: r2 · c42 · span 850530–850540
34M/I Homes, Section 10b CEO totalDEF 14A2026-04-100001193125-26-150356CEO total compensation as printed in M/I Homes's own proxy. As printed: 9,914,773. Filing ↗machine: t145 · r2 · c31 · span 415984–415993
35Tri Pointe Homes, Section 10b CEO totalDEF 14A2026-03-060001561680-26-000013CEO total compensation as printed in Tri Pointe Homes's own proxy. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
36Century Communities, Section 10b CEO totalDEF 14A2026-03-250001140361-26-011011CEO total compensation as printed in Century Communities's own proxy. As printed: 8,510,773. Filing ↗machine: t194 · r4 · c14 · span 1089521–1089530
37Meritage Homes, Section 10b CEO totalDEF 14A2026-04-070000833079-26-000098CEO total compensation as printed in Meritage Homes's own proxy. As printed: 8,114,286. Filing ↗machine: t119 · r2 · c19 · span 828485–828494
38KB 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
39Beazer Homes USA, Section 10b CEO totalDEF 14A2025-12-220000915840-25-000095CEO total compensation as printed in Beazer Homes USA's own proxy. As printed: 6,367,213. Filing ↗machine: r2 · c24 · span 1008801–1008810
40LGI Homes, Section 10b CEO totalDEF 14A2026-03-130001580670-26-000030CEO total compensation as printed in LGI Homes's own proxy. As printed: 5,182,051. Filing ↗machine: span 563461–563470
41Smith Douglas Homes Corp. (subject), Section 10b CEO totalDEF 14A2026-04-220001628280-26-026561CEO total compensation as printed in Smith Douglas Homes Corp.'s own proxy. As printed: 3,335,083. Filing ↗machine: r2 · c42 · span 236441–236450
42Landsea Homes Corporation, Section 10b CEO totalDEF 14A2024-04-240001308179-24-000557CEO total compensation as printed in Landsea Homes Corporation's own proxy. As printed: 2,512,652. Filing ↗machine: span 507078–507087
43United Homes Group, Section 10b CEO totalDEF 14A2025-04-250001830188-25-000028CEO total compensation as printed in United Homes Group's own proxy. As printed: 388,884. Filing ↗machine: span 487776–487783
44Section 10a, Meritage Homes reciprocityDEF 14A0000833079-26-000098Meritage Homes's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
45Section 10a, Hovnanian Enterprises reciprocityDEF 14A0001140361-26-004409Hovnanian Enterprises's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
46Section 10a, Century Communities reciprocityDEF 14A0001140361-26-011011Century Communities's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
47Section 10a, Green Brick Partners reciprocityDEF 14A0001628280-26-037542Green Brick Partners's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
48Section 10a, LGI Homes reciprocityDEF 14A0001580670-26-000030LGI Homes's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
49Section 10a, M/I Homes reciprocityDEF 14A0001193125-26-150356M/I Homes's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
50Section 10a, Dream Finders Homes reciprocityDEF 14A0001628280-26-025557Dream Finders Homes names Smith Douglas Homes Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
51Section 10a, KB Home reciprocityDEF 14A0001308179-26-000068KB Home's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗
52Section 10a, Beazer Homes USA reciprocityDEF 14A0000915840-25-000095Beazer Homes USA names Smith Douglas Homes Corp. in its own disclosed peer group (read from its most recent proxy). Filing ↗
53Section 10a, Tri Pointe Homes reciprocityDEF 14A0001561680-26-000013Tri Pointe Homes's most recent proxy was read; its disclosed peer group does not include Smith Douglas Homes Corp.. Filing ↗