UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
_________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): September 28, 2022
M.D.C. Holdings, Inc.
| (Exact name of registrant as specified in its charter) | ||||||||
| Delaware | 1-8951 | 84-0622967 | ||||||
| (State or other jurisdiction of incorporation) | (Commission file number) | (I.R.S. employer identification no.) | ||||||
4350 South Monaco Street, Suite 500, Denver, Colorado 80237
| (Address of principal executive offices) (Zip code) | ||||||||
Registrant’s telephone number, including area code: (303) 773-1100
Not Applicable
| (Former name or former address, if changed since last report) | ||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||
| Common Stock, $.01 par value | MDC | New York Stock Exchange | |||||||||||||||
| 6% Senior Notes due January 2043 | MDC 43 | New York Stock Exchange | |||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On September 28, 2022, the Compensation Committee (the "Committee") of M.D.C. Holdings, Inc. (the “Company”) took the action described below with respect to compensation of executive officers.
Executive Long-Term Stock Option Awards
The Committee granted a long-term non-qualified stock option to each of Larry A. Mizel, Executive Chairman, and David D. Mandarich, Chief Executive Officer, for 1,000,000 shares and 800,000 shares, respectively, of common stock under the Company’s 2021 Equity Incentive Plan. The stock options vest immediately and will become exercisable equally over three years, starting with the first anniversary of the date of the Committee’s action. The option exercise price is equal to the closing price of the Company’s common stock on the date of grant, which was $28.78 and the expiration date of each option is September 28, 2032. The stock option awards are evidenced by the form of 2022 Senior Executive Officer Stock Option Agreement filed as an exhibit hereto.
The foregoing stock option awards are subject to the Clawback Policy adopted by the Company’s Corporate Governance/Nominating Committee on January 14, 2015.
ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
(e) The disclosure under Item 1.01 above is incorporate by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit Number | Description | |||||||
| 104 | Cover Page Interactive Data file (formatted in Inline XBRL) | |||||||
| 10.1 | ||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
_________________________________
| M.D.C. HOLDINGS, INC. | ||||||||||||||
| Dated: | September 29, 2022 | By: | /s/ Joseph H. Fretz | |||||||||||
| Joseph H. Fretz | ||||||||||||||
| Vice President, Secretary & Corporate Counsel | ||||||||||||||
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