Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-04-10

Tri Pointe Homes, Inc. (TPH)

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.

$8,677,081
Douglas Bauer total, FY2025
55th
CEO pay percentile vs peers
80:1
CEO-to-median pay ratio
75.35%
Say-on-pay support, latest vote
Companies that benchmark against TPH
19 companies name TPH as a compensation peer

Each company listed discloses TPH 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 TPH 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
Douglas Bauer$1,000,000$0$5,999,981$0$1,635,000$0$42,100$8,677,081
Chief Executive Officer
Thomas Mitchell970,00005,999,98101,585,950022,2108,578,141
President and Chief Operating Officer
Glenn Keeler750,00001,749,9800784,800014,5003,299,280
Chief Financial Officer and Chief Accounting Officer
David Lee550,0000849,9690449,625014,5001,864,094
General Counsel and 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
Douglas Bauer$8,677,081$11,584,148$13,457,143−2,907,067
Thomas Mitchell8,578,14111,399,79413,305,313−2,821,653
Glenn Keeler3,299,2804,695,4294,982,549−1,396,149
David Lee1,864,0942,663,9162,612,555−799,822

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
Douglas BauerPSU2025-02-1958,721116,542233,084$3,599,982
David LeePSU2025-02-196,87913,75827,516424,984
Thomas MitchellPSU2025-02-1958,721116,542233,0843,599,982
Thomas MitchellRSU2025-02-1958,721233,084
Glenn KeelerPSU2025-02-1914,16328,32656,652874,990
David LeeRSU2025-02-196,87927,516
Douglas BauerRSU2025-02-1958,721233,084
Glenn KeelerRSU2025-02-1914,16356,652
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Douglas Bauer$233,084$3,599,982$093.9%
David Lee27,516424,984093.9%
Thomas Mitchell233,0843,599,982093.9%
Glenn Keeler56,652874,990093.9%

% 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
Douglas BauerRSU20,106$632,736
Glenn KeelerRSU24,640775,421
David LeeRSU11,968376,633
Glenn KeelerRSU28,326891,419
Douglas BauerRSU101,3793,190,397
Thomas MitchellRSU45,0581,417,975
Douglas BauerRSU77,6952,445,062
Thomas MitchellRSU116,5423,667,577
Thomas MitchellRSU52,0991,639,556
David LeeRSU13,758432,964
Glenn KeelerRSU8,618271,208
Douglas BauerRSU52,0991,639,556
David LeeRSU5,386169,497
David LeeRSU1,86158,566
Glenn KeelerRSU11,630365,996
Douglas BauerRSU180,9565,694,685
Thomas MitchellRSU101,3793,695,900
Thomas MitchellRSU180,9565,694,685
Douglas BauerRSU116,5423,667,577
Thomas MitchellRSU77,6952,445,062
Glenn KeelerRSU51,7001,626,999
Douglas BauerRSU45,0581,417,975
David LeeRSU32,3121,016,859
David LeeRSU7,979251,099
Thomas MitchellRSU20,106632,736
Glenn KeelerRSU16,247516,958
05

Incentive-plan design — the Compensation Discussion & Analysis

We design our compensation programs to achieve the following key objectives: align the interests of our executive officers with those of our stockholders; motivate executive officers to grow long-term stockholder value; reinforce our pay for performance culture by aligning the compensation realized by our executive officers with the achievement of company goals; provide total compensation opportunities that allow us to attract, retain and motivate talented executive officers; and promote desired behavior through incentive compensation without encouraging imprudent risk-taking.

CEO STI target (% of salary)250%
CEO LTI target (% of salary)
Independent consultantExequity
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-04-1659,630,91519,503,068101,24875.35%Passed
20242024-04-1761,081,46122,545,91433,84673.04%Passed
20232023-04-1986,726,0873,808,426130,67895.79%Passed
20222022-04-2092,021,8682,348,712106,24997.51%Passed
20212021-04-21107,689,9611,739,138225,40498.41%Passed
20202020-04-22117,166,0421,668,101103,64498.6%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
20252025-04-1675.35%a
20242024-04-1773.04%b
20232023-04-1995.79%c

a. Approved under the standard stated in the filing — “Abstentions and "broker non-votes" will not be counted as votes cast and will not affect the outcome with regard to this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions and "broker non-votes" will not be counted as votes cast and will not affect the outcome with regard to this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions and "broker non-votes" will not be counted as votes cast and will not affect the outcome with regard to this proposal.”.

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)80 : 1
CEO total compensation$8,677,081
Median employee compensation$108,592
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Steven J. GilbertIndependent · Board Chair · Compensation · Nominating and Corporate Governance$185,000$174,988$0$0$0$359,988
Constance B. MooreIndependent · Audit · Nominating and Corporate Governance (Chair)121,000174,988000295,988
Lawrence B. BurrowsIndependent · Audit (Chair) · Compensation120,000174,988000294,988
R. Kent GrahlIndependent · Audit · Compensation106,000174,988000280,988
Vicki D. McWilliamsIndependent · Compensation · Nominating and Corporate Governance100,000174,988000274,988
Douglas F. BauerEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$175,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)14,000 / 15,000 / 10,000
Stock ownership guideline5x annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$632,000
Equity awards (grant-date value)$874,940
All other compensation$0
Total cost of the board$1,506,940

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 Tri Pointe 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 Tri Pointe 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
1PulteGroup2025Ryan Marshall$1,000,000$9,074,953$0$5,278,452$15,393,266
2Toll Brothers2025Douglas Yearley1,200,0007,040,85406,746,83615,319,865
3Hovnanian Enterprises2025Ara Hovnanian1,154,4237,093,55404,885,14713,654,756
4Taylor Morrison2025Sheryl Palmer1,075,0005,599,9571,399,9871,548,00010,075,397
5M/I Homes2025Robert Schottenstein1,100,0004,945,34303,506,2509,914,773
6Tri Pointe Homes, Inc.2025Douglas Bauer1,000,0005,999,98101,635,0008,677,081
7Century Communities2025Robert J. Francescon1,000,0004,622,11902,784,0038,510,773
8Meritage Homes2025Phillippe Lord1,000,0005,697,08501,352,0008,114,286
9KB Home2025Robert McGibney912,5003,499,97502,826,8397,311,553
10Beazer Homes USA2025Allan Merrill1,064,5253,278,49201,211,2806,367,213
11LGI Homes2025Eric Lipar975,0004,143,842005,182,051
12NVR2025Eugene Bredow1,437,50000287,4271,748,227

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
Tri Pointe Homes, Inc.65.4%PSU 60 · RSU 40NoExequity
Beazer Homes USAnot disclosedPSU 40 · Cash LTI 30 · RSU 30NoPearl Meyer
Century Communities94%PSU 100NoWealthPoint
Hovnanian Enterprisesnot disclosednot disclosedNoFW Cook
KB Homenot disclosedPSU 100NoFW Cook
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
NVR20%Options 100not disclosedMercer Consulting
PulteGroup84%PSU 60 · RSU 40Yes — Relative TSRSemler Brossy
Taylor Morrison183%PSU 40 · RSU 40 · Options 20NoSemler Brossy Consulting Group, LLC
Toll Brothers105.8%PSU 50 · RSU 50NoCompensation Advisory Partners 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 Tri Pointe Homes, Inc. in fiscal 2025?
Douglas Bauer, Chief Executive Officer, was the highest-paid executive at Tri Pointe Homes, Inc. in fiscal 2025, with total compensation of $8,677,081.
How does Tri Pointe Homes, Inc.'s chief executive pay compare to its disclosed peer group?
The company reported that the CEO's pay placed him at the 55th percentile of the disclosed peer group.
What is Tri Pointe Homes, Inc.'s CEO-to-median employee pay ratio?
The filing shows a CEO-to-median employee pay ratio of 80:1.
How did shareholders vote on Tri Pointe Homes, Inc.'s executive compensation?
Shareholders voted to approve executive compensation with 75.35% support in the latest vote.
How much does Tri Pointe Homes, Inc. spend in total on board compensation for fiscal 2025?
Tri Pointe Homes, Inc. reported total board compensation of $1,506,940 for fiscal 2025.

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, Douglas BauerDEF 14A2026-03-060001561680-26-000013Section “Fiscal 2025 Summary Compensation Table”. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
2Section 01, Thomas MitchellDEF 14A2026-03-060001561680-26-000013Section “Fiscal 2025 Summary Compensation Table”. As printed: 8,578,141. Filing ↗machine: r6 · c48 · span 560092–560101
3Section 01, Glenn KeelerDEF 14A2026-03-060001561680-26-000013Section “Fiscal 2025 Summary Compensation Table”. As printed: 3,299,280. Filing ↗machine: r10 · c48 · span 569308–569317
4Section 01, David LeeDEF 14A2026-03-060001561680-26-000013Section “Fiscal 2025 Summary Compensation Table”. As printed: 1,864,094. Filing ↗machine: r14 · c48 · span 578787–578796
5Section 03, Douglas Bauer PSUDEF 14A2026-03-060001561680-26-000013Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t38 · r9 · c8 · span 650643–650650
6Section 03, David Lee PSUDEF 14A2026-03-060001561680-26-000013Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t38 · r29 · c6 · span 675089–675095
7Section 03, Thomas Mitchell PSUDEF 14A2026-03-060001561680-26-000013Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t38 · r16 · c8 · span 659232–659239
8Section 03, Thomas Mitchell RSUDEF 14A0001561680-26-000013Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Glenn Keeler PSUDEF 14A2026-03-060001561680-26-000013Section “EXECUTIVE COMPENSATION” · grants of plan-based awards table. Filing ↗machine: t38 · r22 · c6 · span 666499–666505
10Section 03, David Lee RSUDEF 14A2026-03-060001561680-26-000013Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
11Section 03, Douglas Bauer RSUDEF 14A0001561680-26-000013Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
12Section 03, Glenn Keeler RSUDEF 14A2026-03-060001561680-26-000013Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
13Section 07, pay ratioDEF 14A2026-03-060001561680-26-000013Section “CEO Pay Ratio”. As printed: 80 : 1. Filing ↗machine: span 770180–770182
14Section 08, Steven J. GilbertDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 359,988. Filing ↗machine: t55 · r3 · c6 · span 893052–893059
15Section 08, Constance B. MooreDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 295,988. Filing ↗machine: t55 · r6 · c6 · span 896575–896582
16Section 08, Lawrence B. BurrowsDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 294,988. Filing ↗machine: t55 · r2 · c6 · span 891865–891872
17Section 08, R. Kent GrahlDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 280,988. Filing ↗machine: t55 · r4 · c6 · span 894198–894205
18Section 08, Vicki D. McWilliamsDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 274,988. Filing ↗machine: t55 · r5 · c6 · span 895387–895394
19Section 08, Douglas F. BauerDEF 14A2026-03-060001561680-26-000013Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2025 voteForm 8-K2025-04-170001561680-25-000049Item 5.07 · say-on-pay result. As reported: 75.35% (votes for as printed: 59,630,915). Filing ↗
21Section 06, 2024 voteForm 8-K2024-04-180001561680-24-000044Item 5.07 · say-on-pay result. As reported: 73.04% (votes for as printed: 61,081,461). Filing ↗
22Section 06, 2023 voteForm 8-K2023-04-210001561680-23-000050Item 5.07 · say-on-pay result. As reported: 95.79% (votes for as printed: 86,726,087). Filing ↗
23Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 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
25Section 09b board cost (computed)ComputedcomputedCash 632,000 + equity 874,940 + all other 0 = 1,506,940, summed across the director compensation table rows.machine: formula: Σ = 1,506,940
26PulteGroup, Section 10b CEO totalDEF 14A2026-03-130000822416-26-000016CEO total compensation as printed in PulteGroup's own proxy. As printed: 15,393,266. Filing ↗machine: r3 · c27 · span 1079633–1079644
27Toll Brothers, Section 10b CEO totalDEF 14A2026-01-290000794170-26-000037CEO total compensation as printed in Toll Brothers's own proxy. As printed: 15,319,865. Filing ↗machine: r3 · c48 · span 601186–601196
28Hovnanian 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
29Taylor Morrison, Section 10b CEO totalDEF 14A2026-04-100001140361-26-014261CEO total compensation as printed in Taylor Morrison's own proxy. As printed: 10,075,397. Filing ↗machine: t176 · r2 · c27 · span 1133718–1133728
30M/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
31Tri Pointe Homes, Inc. (subject), Section 10b CEO totalDEF 14A2026-03-060001561680-26-000013CEO total compensation as printed in Tri Pointe Homes, Inc.'s own proxy. As printed: 8,677,081. Filing ↗machine: r2 · c48 · span 551025–551034
32Century 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
33Meritage 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
34KB 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
35Beazer 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
36LGI 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
37NVR, Section 10b CEO totalDEF 14A2026-03-170000906163-26-000029CEO total compensation as printed in NVR's own proxy. As printed: 1,748,227. Filing ↗machine: span 499110–499119
38Section 10a, M/I Homes reciprocityDEF 14A0001193125-26-150356M/I Homes names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
39Section 10a, Hovnanian Enterprises reciprocityDEF 14A0001140361-26-004409Hovnanian Enterprises names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
40Section 10a, Meritage Homes reciprocityDEF 14A0000833079-26-000098Meritage Homes's most recent proxy was read; its disclosed peer group does not include Tri Pointe Homes, Inc.. Filing ↗
41Section 10a, KB Home reciprocityDEF 14A0001308179-26-000068KB Home names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Taylor Morrison reciprocityDEF 14A0001140361-26-014261Taylor Morrison names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Century Communities reciprocityDEF 14A0001140361-26-011011Century Communities names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
44Section 10a, LGI Homes reciprocityDEF 14A0001580670-26-000030LGI Homes names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, PulteGroup reciprocityDEF 14A0000822416-26-000016PulteGroup names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
46Section 10a, Beazer Homes USA reciprocityDEF 14A0000915840-25-000095Beazer Homes USA names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Toll Brothers reciprocityDEF 14A0000794170-26-000037Toll Brothers names Tri Pointe Homes, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, NVR reciprocityDEF 14A0000906163-26-000029NVR's most recent proxy was read; its disclosed peer group does not include Tri Pointe Homes, Inc.. Filing ↗