XML 64 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Year
Summary
Compensation
Table
Total
for PEO
Compensation
Actually
Paid to

PEO
Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
Average
Compensation
Actually Paid to
Non-PEO
NEOs
Value of Initial Fixed $100
Investment Based On:
Net Income
(in thousands)
Home
Closings
Revenue
(in thousands)
Total
Shareholder
Return
Peer Group
Total
Shareholder
Return
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
2023 $ 7,759,877 $ 7,759,877 $ 2,146,469 $ 2,181,195 $ 452.44 $ 220.06 $ 306,675 $ 1,767,788
2022 $ 5,960,838 $ 5,960,838 $ 1,538,111 $ 1,538,410 $ 211.06 $ 136.96 $ 313,997 $ 1,696,911
2021 $ 5,087,182 $ 5,087,182 $ 1,814,672 $ 1,814,672 $ 264.20 $ 192.00 $ 204,381 $ 1,305,620
2020 $ 3,483,687 $ 3,483,687 $ 1,416,339 $ 1,416,339 $ 200.00 $ 127.81 $ 117,797 $ 923,901
Column (b). Reflects compensation amounts reported in the “Summary Compensation Table” or “SCT” for our CEO, James R. Brickman, for the respective years shown.
Column (c). CAP for our Principal Executive Officer (our PEO) in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (b), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (c) do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable year. For information regarding decisions made by our Compensation Committee with respect to the PEO’s compensation for each fiscal year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statement for the 2023 and 2022 annual meeting of stockholders and the “Executive Compensation Information” section of the proxy statement for the 2021 annual meeting of stockholders.
Year
2020
2021
2022
2023
PEO
Mr. Brickman
Mr. Brickman
Mr. Brickman
Mr. Brickman
SCT Total Compensation ($)
$ 3,483,687 $ 5,087,182 $ 5,960,838 $ 7,759,877
Less: Stock and Option Award Values Reported
in SCT for the Covered Year on Grant Date ($)
$ 750,137 $ 1,225,000 $ 1,349,988 $ 3,100,497
Plus: Fair Value of Stock Awards Granted and Vested in the Covered Year (on Vest Date)
$ 750,137 $ 1,225,000 $ 1,349,988 $ 3,100,497
Fair Value for Stock and Option Awards Granted
in the Covered Year at Year-End ($)
Change in Fair Value of Outstanding Unvested
Stock and Option Awards from Prior Years ($)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Compensation Actually Paid ($)
$ 3,483,687 $ 5,087,182 $ 5,960,838 $ 7,759,877
Column (d). The following non-PEO named executive officers are included in the average figures shown for the 2020 and 2021 covered years: Richard A. Costello and Jed Dolson; and for the 2022 and 2023 covered years: Richard A. Costello, Jed Dolson and Neal Suit.
Column (e). Average CAP for our non-PEO NEOs in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (d), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (e) do not reflect the actual amount of compensation earned by or paid to our non-PEO NEOs during the applicable year. For
information regarding the decisions made by our Compensation Committee with respect to the non-PEO NEOs’ compensation for each fiscal year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statement for the 2023 and 2022 annual meeting of stockholders and the “Executive Compensation Information” section of the proxy statement for the 2021 annual meetings of stockholders.
Year
2020
2021
2022
2023
Non-PEO NEOs
See
column (d)
note
See
column (d)
note
See
column (d)
note
See
column (d)
note
SCT Total Compensation ($)
$1,416,339
$1,814,672
$1,538,111
$2,146,469
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
$ 425,000 $ 499,325 $ 524,336 $ 780,807
Plus: Fair Value of Stock Awards Granted and Vested in the Covered Year (on Vest Date)
$ 425,000 $ 499,325 $ 524,336 $ 734,153
Fair Value for Stock and Option Awards Granted in the Covered Year at Year-End ($)
$ 299 $ 73,409
Change in Fair Value of Outstanding Unvested Stock and
Option Awards from Prior Years ($)
$ 7,971
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Compensation Actually Paid ($)
$ 1,416,339 $ 1,814,672 $ 1,538,410 $ 2,181,195
Column (f). For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of Green Brick for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.
Column (g). For the relevant fiscal year, represents the cumulative TSR of the S&P Homebuilders Select Industry Index for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.
Column (h). Reflects “Net Income” in our consolidated income statements included in our Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022, 2021 and 2020.
Column (i). Company-selected Measure is Home Closings Revenue Growth, which is described below.
     
Company Selected Measure Name Home Closings Revenue      
Named Executive Officers, Footnote
Column (d). The following non-PEO named executive officers are included in the average figures shown for the 2020 and 2021 covered years: Richard A. Costello and Jed Dolson; and for the 2022 and 2023 covered years: Richard A. Costello, Jed Dolson and Neal Suit.
     
Peer Group Issuers, Footnote
Column (g). For the relevant fiscal year, represents the cumulative TSR of the S&P Homebuilders Select Industry Index for the measurement periods ending on December 31 of each of 2023, 2022, 2021 and 2020, respectively.
     
PEO Total Compensation Amount $ 7,759,877 $ 5,960,838 $ 5,087,182 $ 3,483,687
PEO Actually Paid Compensation Amount $ 7,759,877 5,960,838 5,087,182 3,483,687
Adjustment To PEO Compensation, Footnote
Column (b). Reflects compensation amounts reported in the “Summary Compensation Table” or “SCT” for our CEO, James R. Brickman, for the respective years shown.
Column (c). CAP for our Principal Executive Officer (our PEO) in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (b), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (c) do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable year. For information regarding decisions made by our Compensation Committee with respect to the PEO’s compensation for each fiscal year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statement for the 2023 and 2022 annual meeting of stockholders and the “Executive Compensation Information” section of the proxy statement for the 2021 annual meeting of stockholders.
Year
2020
2021
2022
2023
PEO
Mr. Brickman
Mr. Brickman
Mr. Brickman
Mr. Brickman
SCT Total Compensation ($)
$ 3,483,687 $ 5,087,182 $ 5,960,838 $ 7,759,877
Less: Stock and Option Award Values Reported
in SCT for the Covered Year on Grant Date ($)
$ 750,137 $ 1,225,000 $ 1,349,988 $ 3,100,497
Plus: Fair Value of Stock Awards Granted and Vested in the Covered Year (on Vest Date)
$ 750,137 $ 1,225,000 $ 1,349,988 $ 3,100,497
Fair Value for Stock and Option Awards Granted
in the Covered Year at Year-End ($)
Change in Fair Value of Outstanding Unvested
Stock and Option Awards from Prior Years ($)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Compensation Actually Paid ($)
$ 3,483,687 $ 5,087,182 $ 5,960,838 $ 7,759,877
     
Non-PEO NEO Average Total Compensation Amount $ 2,146,469 1,538,111 1,814,672 1,416,339
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,181,195 1,538,410 1,814,672 1,416,339
Adjustment to Non-PEO NEO Compensation Footnote
Column (d). The following non-PEO named executive officers are included in the average figures shown for the 2020 and 2021 covered years: Richard A. Costello and Jed Dolson; and for the 2022 and 2023 covered years: Richard A. Costello, Jed Dolson and Neal Suit.
Column (e). Average CAP for our non-PEO NEOs in each of 2023, 2022, 2021 and 2020 reflects the respective amounts set forth in column (d), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (e) do not reflect the actual amount of compensation earned by or paid to our non-PEO NEOs during the applicable year. For
information regarding the decisions made by our Compensation Committee with respect to the non-PEO NEOs’ compensation for each fiscal year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statement for the 2023 and 2022 annual meeting of stockholders and the “Executive Compensation Information” section of the proxy statement for the 2021 annual meetings of stockholders.
Year
2020
2021
2022
2023
Non-PEO NEOs
See
column (d)
note
See
column (d)
note
See
column (d)
note
See
column (d)
note
SCT Total Compensation ($)
$1,416,339
$1,814,672
$1,538,111
$2,146,469
Less: Stock and Option Award Values Reported in SCT for the Covered Year ($)
$ 425,000 $ 499,325 $ 524,336 $ 780,807
Plus: Fair Value of Stock Awards Granted and Vested in the Covered Year (on Vest Date)
$ 425,000 $ 499,325 $ 524,336 $ 734,153
Fair Value for Stock and Option Awards Granted in the Covered Year at Year-End ($)
$ 299 $ 73,409
Change in Fair Value of Outstanding Unvested Stock and
Option Awards from Prior Years ($)
$ 7,971
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)
Compensation Actually Paid ($)
$ 1,416,339 $ 1,814,672 $ 1,538,410 $ 2,181,195
     
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: bc_captsr-pn.jpg]
     
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_capnetincome-pn.jpg]
     
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_caprevenue-pn.jpg]
     
Total Shareholder Return Vs Peer Group
[MISSING IMAGE: lc_grbktsr-pn.jpg]
     
Tabular List, Table
Measure
Nature
Explanation
Earnings Per Share
Financial measure
Metric of profitability on a per share basis, which includes the effect of all dilutive securities.
Home Closings Revenue Growth
Financial measure
Increase, period over period, in revenue from home closings.
Homebuilding
Gross Margin
Financial measure
Homebuilding gross margin is calculated as Home Closings Revenue minus Cost of Homebuilding units.
Return on Assets
Financial measure
Return on assets is calculated by dividing net income by total assets.
     
Total Shareholder Return Amount $ 452.44 211.06 264.2 200
Peer Group Total Shareholder Return Amount 220.06 136.96 192 127.81
Net Income (Loss) $ 306,675,000 $ 313,997,000 $ 204,381,000 $ 117,797,000
Company Selected Measure Amount 1,767,788,000 1,696,911,000 1,305,620,000 923,901,000
PEO Name James R. Brickman      
Measure:: 1        
Pay vs Performance Disclosure        
Name Home Closings Revenue Growth      
Non-GAAP Measure Description
Column (i). Company-selected Measure is Home Closings Revenue Growth, which is described below.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Earnings Per Share      
Measure:: 3        
Pay vs Performance Disclosure        
Name Homebuilding Gross Margin      
Measure:: 4        
Pay vs Performance Disclosure        
Name Return on Assets      
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (3,100,497) $ (1,349,988) $ (1,225,000) $ (750,137)
PEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,100,497 1,349,988 1,225,000 750,137
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
PEO | Fair Value of Stock and Option Awards Forfeited during the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (780,807) (524,336) (499,325) (425,000)
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 734,153 524,336 499,325 425,000
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 73,409 299
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 7,971
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
Non-PEO NEO | Fair Value of Stock and Option Awards Forfeited during the Covered Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount