Unassociated Document
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): November 3, 2011
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NVR, Inc. |
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(Exact name of registrant as specified in its charter) |
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| Virginia |
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1-12378 |
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54-1394360 |
| (State or other jurisdiction of incorporation or organization) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
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| 11700 Plaza America Drive, Suite 500, Reston, Virginia |
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20190 |
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(Zip Code) |
Registrant’s telephone number, including area code: 703-956-4000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4(c))
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On November 3, 2011, the Board of Directors of NVR, Inc. (“NVR”) appointed Thomas D. Eckert as a new director effective December 1, 2011. The Board of Directors also appointed Mr. Eckert to serve on our Audit and Qualified Legal Compliance Committees. Mr. Eckert’s term as director will continue until the 2012 Annual Meeting of Shareholders and until his successor is duly elected and qualified. NVR’s Board of Directors has determined that Mr. Eckert is an independent director under the listing standards of the New York Stock Exchange.
Mr. Eckert will receive an annual retainer of $26,000 and fees of $1,600 for each board or committee meeting that he attends, in accordance with NVR’s standard compensation arrangements for directors described in Exhibit 10.27 to our Annual Report on Form 10-K for the period ended December 31, 2004, which description is incorporated herein by reference. In addition, on the effective date of Mr. Eckert’s appointment, he will receive a stock option grant with a fair value equal to $455,500 and a restricted share unit grant with a fair value equal to $455,500 from our 2010 Equity Incentive Plan. The stock option grants and restricted share unit grants will be issued pursuant to the forms of agreement filed as Exhibits 10.2 and 10.4, respectively, to our Form 8-K filed on May, 6, 2010, which are incorporated herein by reference.
A copy of the press release announcing Mr. Eckert’s appointment is attached as Exhibit 99.1 hereto and incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits
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99.1
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Press release dated November 3, 2011.
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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 hereunto duly authorized.
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NVR, Inc. |
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Date: November 3, 2011
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By:
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/s/ Dennis M. Seremet |
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Name: |
Dennis M. Seremet |
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Title: |
Senior Vice President and Chief Financial Officer |
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INDEX TO EXHIBITS
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Exhibit Number
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Exhibit Description
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99.1
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Press release dated November 3, 2011.
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NVR, Inc. Appoints New Member to Board of Directors
RESTON, Va., Nov. 3, 2011 /PRNewswire/ -- NVR, Inc. (NYSE: NVR) announced that Thomas D. Eckert will join its Board of Directors as an independent director effective December 1, 2011. Mr. Eckert has also been appointed as a member of the Audit and Qualified Legal Compliance Committees.
Mr. Eckert is Chairman of Capital Automotive Real Estate Services, Inc. Capital Automotive owns and manages $3.5 billion of net leased real estate used primarily by large automotive retailers. Mr. Eckert was one of the founders of Capital Automotive in
October 1997 and led its initial public offering in 1998. Capital Automotive went private in 2005. Mr. Eckert has also held management positions with Pulte Home Corporation and Arthur Andersen LLP.
About NVR
NVR, Inc. operates in two business segments: homebuilding and mortgage banking. The homebuilding unit sells and builds homes under the Ryan Homes, NVHomes, Rymarc Homes and Fox Ridge Homes trade names, and operates in twenty-six metropolitan areas in fifteen states. For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com, www.foxridgehomes.com, and www.rymarc.com.
CONTACT: Dan Malzahn, OFFICE: +1-703-956-4204
