MDC Holdings founder/CEO to depart Dec 31; $21M total severance

SEKISUI HOUSE U.S., INC.

Founder/Executive Chairman Larry Mizel and CEO David Mandarich departing Dec 31, 2024.
Mizel receives approx $11M lump sum; Mandarich approx $10M per amended employment agreement.
Departures follow MDC's acquisition by Sekisui House earlier in 2024.
Sekisui House expresses gratitude; says leadership positively influenced the organization.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Larry A. Mizel

Founder Executive Chairman of the Board of Directors

SEKISUI HOUSE U.S., INC.

Effective: 2024-12-31
Filed: October 31, 2024, 7:59 PM ET

On October 28, 2024, the Board of Directors of M.D.C. Holdings, Inc. ("MDC") approved the departure planned for December 31, 2024 of Larry A. Mizel, MDC’s Founder Executive Chairman of the Board of Directors, and David D. Mandarich, MDC’s President, Chief Executive Officer and Director.

Departed

David D. Mandarich

President, Chief Executive Officer and Director

SEKISUI HOUSE U.S., INC.

Effective: 2024-12-31
Filed: October 31, 2024, 7:59 PM ET

On October 28, 2024, the Board of Directors of M.D.C. Holdings, Inc. ("MDC") approved the departure planned for December 31, 2024 of Larry A. Mizel, MDC’s Founder Executive Chairman of the Board of Directors, and David D. Mandarich, MDC’s President, Chief Executive Officer and Director.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Larry A. Mizel departed as Founder Executive Chairman of the Board of Directors at SEKISUI HOUSE U.S., INC..

Action: departure
Role: Founder Executive Chairman of the Board of Directors

Exact text from the filing

On October 28, 2024, the Board of Directors of M.D.C. Holdings, Inc. ("MDC") approved the departure planned for December 31, 2024 of Larry A. Mizel, MDC’s Founder Executive Chairman of the Board of Directors, and David D. Mandarich, MDC’s President, Chief Executive Officer and Director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David D. Mandarich departed as President, Chief Executive Officer and Director at SEKISUI HOUSE U.S., INC..

Action: departure
Role: President, Chief Executive Officer and Director

Exact text from the filing

On October 28, 2024, the Board of Directors of M.D.C. Holdings, Inc. ("MDC") approved the departure planned for December 31, 2024 of Larry A. Mizel, MDC’s Founder Executive Chairman of the Board of Directors, and David D. Mandarich, MDC’s President, Chief Executive Officer and Director.

View on SEC.gov

Source: SEC EDGAR

accession 0000773141-24-000046

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