2013 IPO LGI Homes paid Lipar a base salary just over $500,000 in 2014, with a total compensation of close to $1.5 million, more than double his prior year earnings.
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Eric
Lipar, LGI Homes
2014 Salary
% Total
% Change Vs.
2013
Breakdown ($)
Comp
128.53%
Base salary
500,770
34.06%
Bonus
440,668
29.97%
Stock Awards
496,903
33.80%
Options Awards
0
0.00%
Non-Equity
Incentive
0
0.00%
Change in
Pension Value
0
0.00%
All Other Comp
31,998
2.18%
TOTAL COMP
1,470,339
Lipar’s base salary was slightly higher than 2013’s $500,755.
Lipar’s bonus of $440,668 was based on two financial measures including home closings and pre-tax earnings targets. Since home closings were up more than 45%, to 2,356 homes; and pre-tax earnings were $43.1 million, up 87.9%, both goals were exceeded, and he achieved the maximum bonus
The stock awards amounting to $496,903 were issued in two installments. First, performance-based RSUs of 20,480, equaling $350,003 in value, were awarded based on a cumulative three-year earnings per share target (from 2014-2016); another 10,000 RSUs in bonuses were awarded, for $146,900, vesting in equal installments started in 2016.
