D.R. Horton, Inc. has announced the appointment of Carl E. Reichardt, Jr. as an independent director, effective October 22, 2026. This decision expands the company's board to nine members, with seven being independent directors. This strategic move is aimed at enhancing the governance structure of the company.
Reichardt, who is 61 years old, brings a wealth of experience to the board. He most recently served as a Partner at BTIG, LLC, from 2024 until his retirement in 2025. Prior to that, he held significant roles at Hacienda Capital Partners LLC and Wells Fargo Securities. His educational background includes a Bachelor of Arts degree from Georgetown University and an MBA from Stanford University.
In connection with his appointment, Mr. Reichardt will receive annual cash fees of $80,000, payable in quarterly installments of $20,000. Additionally, he will be granted an annual restricted stock unit award valued at $235,000, which will vest on the first anniversary of the grant date. He will also receive a one-time new director restricted stock unit award valued at $250,000, vesting in five equal annual installments starting on the first anniversary of the grant date.
The filing indicates that there is no arrangement or understanding between Mr. Reichardt and any other person regarding his selection as a director, and he does not have any family relationships with other officers or directors of the company. Furthermore, he is not involved in any transactions that would require disclosure under Item 404(a) of Regulation S-K.
This appointment comes as D.R. Horton continues to navigate the complexities of the operative builders industry, which is characterized by evolving market conditions and competitive pressures. The addition of Reichardt to the board is expected to provide valuable insights and enhance the company's strategic direction.
Looking ahead, the Board will consider potential committee appointments for Mr. Reichardt following the company’s Annual Meeting of Stockholders scheduled for January 14, 2027.