Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): December 15, 2023

Taylor Morrison Home Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-35873

83-2026677

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

4900 N. Scottsdale Road, Suite 2000

Scottsdale, AZ, 85251

(Address of principal executive offices) (Zip Code)

(480) 840-8100

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading
Symbol(s)

Name of each exchange

on which registered

Common stock, par value $0.00001 per share

TMHC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01

Other Events.

On December 15, 2023, Taylor Morrison Home Corporation (the “Company”) announced that the Company’s Board of Directors authorized a renewal of the Company’s stock repurchase program through December 31, 2025, which authorization replaced the Company’s prior $500 million repurchase authorization scheduled to expire on December 31, 2023. The stock repurchase program, as renewed, permits the repurchase of up to $500 million of the Company’s Common stock, par value $0.00001 per share (the “Common Stock”) from December 12, 2023 through December 31, 2025. Repurchases of the Company’s Common Stock under the program may occur from time to time in open market purchases, privately negotiated transactions or other transactions.

Repurchases of Common Stock under the program are subject to prevailing market conditions and other considerations, including the Company’s liquidity, the terms of its debt instruments, legal requirements, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements. The program does not require the Company to repurchase any specific number of shares of Common Stock, and the program may be suspended, extended, modified or discontinued at any time.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits


Exhibit No.		Description

99.1		Press release issued December 15, 2023 by Taylor Morrison Home Corporation.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: December 15, 2023


Taylor Morrison Home Corporation

By:	/s/ Darrell C. Sherman
	Name:	Darrell C. Sherman
	Title:	Executive Vice President, Chief Legal Officer and Secretary

Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE

CONTACT: Investor Relations

Taylor Morrison Home Corporation

(480) 734-2060

investor@taylormorrison.com

Taylor Morrison Renews Stock Repurchase Authorization

Repurchase program will have $500 million in availability for repurchases through December 31, 2025

Scottsdale, Ariz., December 15, 2023––Taylor Morrison Home Corporation (NYSE: TMHC) today announced that its Board of Directors authorized a renewal of its stock repurchase program through December 31, 2025. The program permits the repurchase of up to $500 million of the Company’s Common Stock and replaces the Company’s prior repurchase authorization that was scheduled to expire on December 31, 2023.

“Our balanced capital allocation framework aims to invest in future growth, maintain a healthy capital position and return capital to shareholders to drive long-term shareholder value. Enabled by our strong financial performance, we have repurchased over $1.4 billion of our shares outstanding since 2015 while also fortifying our balance sheet and significantly growing our business. Today’s renewal highlights our commitment to that strategy,” said Chief Financial Officer Curt VanHyfte.

Repurchases of the Company’s common stock under the program may occur from time to time in open market purchases, privately negotiated transactions or other transactions. Future repurchases under the stock repurchase program are subject to prevailing market conditions and other considerations, including the Company’s liquidity, the terms of its debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison and Yardly. From 2016-2023, Taylor Morrison has been recognized as America’s Most Trusted^® Builder by Lifestory Research. Our strong commitment to sustainability, our communities and our team is highlighted in our latest annual Environmental, Social and Governance (ESG) Report. For more information about Taylor Morrison, please visit www.taylormorrison.com.

For more information about Taylor Morrison, please visit www.taylormorrison.com.

###

Document and Entity Information	Dec. 15, 2023
Cover [Abstract]
Entity Registrant Name	Taylor Morrison Home Corp
Amendment Flag	false
Entity Central Index Key	0001562476
Document Type	8-K
Document Period End Date	Dec. 15, 2023
Entity Incorporation State Country Code	DE
Entity File Number	001-35873
Entity Tax Identification Number	83-2026677
Entity Address, Address Line One	4900 N. Scottsdale Road
Entity Address, Address Line Two	Suite 2000
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85251
City Area Code	(480)
Local Phone Number	840-8100
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common stock, par value $0.00001 per share
Trading Symbol	TMHC
Security Exchange Name	NYSE
Entity Emerging Growth Company	false