LGI Homes, Inc. Announces Appreciation Bonus For Frontline Employees
On October 16, 2020, LGI Homes (NASDAQ: LGIH) announced a $1.5 million special appreciation bonus to approximately 760 frontline employees for their dedication during the COVID-19 pandemic.
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Rhea-AI Summary
On October 16, 2020, LGI Homes (NASDAQ: LGIH) announced a $1.5 million special appreciation bonus to approximately 760 frontline employees for their dedication during the COVID-19 pandemic. Each eligible employee will receive a $2,000 cash bonus in recognition of their efforts. CEO Eric Lipar expressed gratitude for their commitment, highlighting that these workers enabled the company to provide homes for over 4,000 families since March. LGI Homes, one of the largest residential builders in the U.S., continues to demonstrate strong performance despite challenging conditions.
Positive
- Special $1.5 million bonus for 760 frontline employees, enhancing morale.
- Production of over 4,000 homes since March indicates strong demand.
Negative
- None.
Details
News Market Reaction – LGIH
The recorded move for LGIH in the trading session of this news was -1.72%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
THE WOODLANDS, Texas, Oct. 16, 2020 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced the payment of a special appreciation bonus, totaling
Eric Lipar, LGI Homes’ Chief Executive Officer noted, “I am incredibly proud of and grateful for the dedication of all of our employees during this unpredictable time. While some of our employees had the ability to fulfil their roles from home, approximately 760 LGI team members were needed in the field daily to support our operations as an essential business. These frontline workers, made up of our Office Managers, Sales Managers, New Home Consultants, Construction Managers and Customer Service Managers, are responsible for directly engaging with our customers, trade partners and other parties. Every day, these dedicated individuals left the comfort and safety of their own homes to make homeownership possible for others.
“In line with the announcement made during our earnings call in August, effective today, we are recognizing each of our frontline employees with a special
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design, construction and sale of homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia and Virginia. Since 2018, LGI Homes has been ranked as the 10th largest residential builder in the United States based on units closed. The Company has a notable legacy of more than 17 years of homebuilding operations, over which time it has closed more than 40,000 homes. For more information about the Company and its new home developments, please visit the Company’s website at www.LGIHomes.com.
CONTACT:
Investor Relations
Joshua Fattor, (281) 210-2619
InvestorRelations@LGIHomes.com
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