Taylor Morrison Home Corp false 0001562476 0001562476 2024-03-05 2024-03-05

 

 

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): March 5, 2024

 

 

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 March 5, 2024, Taylor Morrison Home Corporation (the “Company”) entered into an accelerated share repurchase agreement (the “ASR Agreement”) with JPMorgan Chase Bank, National Association. Under the ASR Agreement, the Company will purchase an aggregate of $50 million (the “Repurchase Price”) of the Company’s common stock, par value $0.00001 per share (the “Common Stock”), as part of its previously announced $500 million share repurchase program.

Under the terms of the ASR Agreement, on March 7, 2024, the Company will pay the Repurchase Price and receive Common Stock with an aggregate value of 80% of the Repurchase Price based on the closing share price of the Common Stock on March 5, 2024. The total number of shares that the Company will ultimately repurchase under the ASR Agreement will be determined based on the volume-weighted average price of the Common Stock during the term of the ASR Agreement, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreement. Final settlement of the ASR Agreement is expected to occur no later than the third quarter of 2024.

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: March 6, 2024

 

Taylor Morrison Home Corporation
By:  

 /s/ Darrell C. Sherman

  Name:   Darrell C. Sherman
  Title:   Executive Vice President, Chief Legal Officer and Secretary
v3.24.0.1
Document and Entity Information
Mar. 05, 2024
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 Mar. 05, 2024
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
Taylor Morrison Home (NYSE:TMHC)
Historical Stock Chart
Von Mär 2024 bis Apr 2024 Click Here for more Taylor Morrison Home Charts.
Taylor Morrison Home (NYSE:TMHC)
Historical Stock Chart
Von Apr 2023 bis Apr 2024 Click Here for more Taylor Morrison Home Charts.