<SEC-DOCUMENT>0001104659-26-092755.txt : 20260807
<SEC-HEADER>0001104659-26-092755.hdr.sgml : 20260807
<ACCEPTANCE-DATETIME>20260807164929
ACCESSION NUMBER:		0001104659-26-092755
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260807
DATE AS OF CHANGE:		20260807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEAZER HOMES USA INC
		CENTRAL INDEX KEY:			0000915840
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				582086934
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12822
		FILM NUMBER:		261255090

	BUSINESS ADDRESS:	
		STREET 1:		2002 SUMMIT BLVD NE
		STREET 2:		15TH FLOOR
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		7708293916

	MAIL ADDRESS:	
		STREET 1:		2002 SUMMIT BLVD NE
		STREET 2:		15TH FLOOR
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
</SEC-HEADER>
<DOCUMENT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a) of
the </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

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    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>BEAZER HOMES USA, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name of Registrant as
Specified In Its Charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name of Person(s) Filing
Proxy Statement, if other than the Registrant) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>

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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>

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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Fee computed on table in exhibit required by Item 25(b) per Exchange Act
    Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>The following email was
sent by an authorized representative of Beazer Homes USA, Inc. to its employees on August 7, 2026:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Beazer Team,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">This morning we announced
that Beazer has entered into a definitive agreement to be acquired by Dream Finders Homes for $33.50 per share in cash. You can read
the full press release here.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">I know the public back and
forth leading to today was distracting, and at times likely overwhelming. Through it all, you remained focused on our customers, our
shareholders and each other. For that, I am extremely grateful. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Given everything that has
happened over the past several months, I want you to hear directly from me how we arrived at this outcome. As we said throughout this
process, our Board was focused on maximizing shareholder value, whether through a transaction or by remaining independent. And they were
resolved not to agree to anything that did not reflect the value of the platform we have built together.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">As part of that review, the
Board noted that our industry is in the middle of a significant wave of consolidation, driven by the widespread belief that scale leads
to better returns. At the same time, both the macro and new home sales environments have been much tougher this year than any of us anticipated,
and it is not obvious what will change those dynamics in the near term. Against that backdrop, many of our shareholders expressed a preference
to receive a cash premium now rather than wait for our strategy to deliver more value in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The revised offer accepted
by the Board represents a substantial premium to the initial public offer of $25.75 per share, and an even larger premium to the price
of our stock before that offer was made. While $33.50 does reflect a discount to our book value per share, the valuation reflects very
strong multiples of both this year's and next year's expected earnings. And from our shareholders' perspective, it removes market and
operational risk because it is an all-cash transaction. Ultimately, the Board concluded that this agreement delivers greater value, with
greater certainty, than our standalone plan or any other alternative available at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">This combination both delivers
the scale the industry is moving toward and meets our shareholders' needs. Together, we will be one of the leading homebuilders in the
country. We will have a broader geographic presence, purchasing improvements and access to operational and financial resources beyond
what we have as a standalone company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">As with any transaction of
this type, the agreement is subject to shareholder and regulatory approvals. We currently anticipate that the transaction will close
in the fourth quarter of 2026. Until then, we remain a separate, independent company, and nothing about our day-to-day responsibilities
change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">I know this announcement raises
personal questions about roles and what comes next. We do not have every answer today, and consistent with how we have communicated throughout
this process, we will maintain an open dialogue with you as integration planning proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Shortly you will receive an
invitation to an all-employee town hall that I will hold today at 11:00 AM Eastern. You should also expect to hear from your leaders
today. And as always, please direct any media inquiries to David Goldberg at david.goldberg@beazer.com, and route any inquiries from
customers, trade partners or anyone else outside the Company to your manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Finally, I want to again say
thank you. Today is bittersweet, but we should take enormous pride in what we built together: the most energy-efficient homes in the
country, the number one rating on TrustBuilder, a repaired balance sheet, and an award-winning philanthropic platform. We did it as a
team, with a culture that is truly special, and nothing will ever diminish that. Leading this Company has been the greatest privilege
of my life. I am confident our shared values can continue to bring success in this next chapter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Thank you for your confidence
and support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Allan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">* * *</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CAUTIONARY STATEMENT
REGARDING FORWARD-LOOKING INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The information
presented herein may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 giving
Dream Finders Homes&#8217;s and Beazer&#8217;s expectations or predictions of future financial or business performance or conditions.
Forward-looking statements are typically identified by words such as &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221;
&#8220;intend,&#8221; &#8220;target,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;positions,&#8221; &#8220;prospects&#8221;
or &#8220;potential,&#8221; by future conditional verbs such as &#8220;will,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;could&#8221;
or &#8220;may&#8221;, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous
assumptions, risks and uncertainties which change over time. Forward-looking statements speak only as of the date they are made and neither
Dream Finders Homes nor Beazer assumes any duty to update forward-looking statements other than as required by law. As forward-looking
statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In addition
to factors previously disclosed in Dream Finders Homes&#8217;s and Beazer&#8217;s reports filed with the Securities and Exchange Commission,
the following factors, among others, could cause actual results to differ materially from forward-looking statements and historical performance:
the occurrence of any event, change or other circumstances that could give rise to right of one or both of the parties to terminate the
definitive merger agreement between Dream Finders Homes and Beazer; the outcome of any legal proceedings that may be instituted against
Dream Finders Homes or Beazer; the failure of Beazer to obtain necessary stockholder and regulatory approvals or to satisfy any of the
other conditions to the Transaction on a timely basis or at all; the possibility that the anticipated benefits of the Transaction are
not realized when expected or at all; the possibility that the Transaction may be more expensive to complete than anticipated, including
as a result of unexpected factors or events; diversion of management&#8217;s attention from ongoing business operations and opportunities;
potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion
of the Transaction; Dream Finders Homes&#8217;s ability to obtain financing and complete the acquisition and integration of Beazer successfully
or fully realize cost savings and other benefits and other consequences associated with mergers, acquisitions and divestitures; negative
effects of announcing the Transaction or the consummation of the Transaction on the market price of our common stock, credit ratings
or operating results; and the potential impact of announcement of the Transaction or consummation thereof on relationships, including
with employees, customers and competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>IMPORTANT INFORMATION
AND WHERE TO FIND IT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In connection
with the acquisition described in this communication (the &#8220;Transaction&#8221;), Beazer intends to file with the Securities and
Exchange Commission (the &#8220;SEC&#8221;) a preliminary proxy statement and a definitive proxy statement (the &#8220;Proxy Statement&#8221;).
The Proxy Statement (if and when available) will be mailed to stockholders of Beazer. INVESTORS AND SECURITY HOLDERS OF BEAZER ARE URGED
TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH
THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION REGARDING DREAM FINDERS HOMES, BEAZER, THE TRANSACTION AND RELATED MATTERS. Investors may obtain free
copies of these documents (when they are available) and other documents filed with the SEC at www.sec.gov. In addition, investors may
obtain free copies of the documents filed with the SEC by Beazer by going to Beazer&#8217;s website at ir.beazer.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Participants
in Solicitation </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Beazer
and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders
of Beazer in connection with the Transaction under the rules of the SEC. Information about the interests of the directors and executive
officers of Beazer and other persons who may be deemed to be participants in the solicitation of stockholders of Beazer in connection
with the Transaction and a description of their direct and indirect interests, by security holdings or otherwise, is set forth in Beazer&#8217;s
proxy statement for its 2026 Annual Meeting of Stockholders on Schedule 14A filed with the SEC on December 22, 2025 and any subsequent
filings with the SEC. In addition, Dream Finders Homes and certain of its directors and executive officers may be deemed to be participants
in the solicitation of proxies from the stockholders of Beazer in connection with the Transaction. Information about certain of Dream
Finders Homes&#8217;s directors and executive officers is set forth in Dream Finders Homes&#8217;s proxy statement for its 2026 Annual
Meeting of Stockholders on Schedule 14A filed with the SEC on April 16, 2026, Dream Finders Homes&#8217;s Annual Report on Form 10-K
filed with the SEC on February 24, 2026, and any subsequent filings with the SEC. To the extent that holdings of Beazer&#8217;s securities
by the directors and executive officers of Beazer have changed from the amounts set forth in the proxy statement for its 2026 Annual
Meeting of Stockholders, such changes have been or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed
with the SEC. Additional information regarding the direct and indirect interests of those persons and other persons who may be deemed
participants in the Transaction may be obtained by reading the Proxy Statement regarding the Transaction when it becomes available. Free
copies of these documents may be obtained as described above and, with respect to the information about Dream Finders Homes&#8217;s directors
and executive officers, at the Dream Finders Homes&#8217;s website at investors.dreamfindershomes.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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