Century Communities names James Francescon president
The compensation package includes a $750,000 annual base salary, a bonus target of at least 200% of salary and an RSU award for 35,008 shares.
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Form Type
8-K
Rhea-AI Filing Summary
Century Communities, Inc. (CCS) elected James Francescon as President, effective January 1, 2027, succeeding Robert J. Francescon, who will remain Chief Executive Officer. On that date, Robert J. Francescon will become the company’s sole principal executive officer, while Dale Francescon will continue as Executive Chairman.
The approved compensation terms provide James Francescon an annual base salary of $750,000 and a target annual bonus opportunity of at least 200% of annual base salary. He also received a promotional RSU award covering 35,008 shares, which will vest in three equal annual installments subject to continued employment or service through each vesting date. The employment agreement will have an initial five-year term with automatic one-year extensions. James Francescon is Robert J. Francescon’s son and Dale Francescon’s nephew.
Filing Explained
The board-approved employment agreement for President-elect James Francescon, effective
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Annual base salary: $750,000
Target annual bonus opportunity: At least 200% of annual base salary
Promotional RSU award: 35,008 shares
+3 more
6 metrics
Annual base salary
$750,000
Effective January 1, 2027
Target annual bonus opportunity
At least 200% of annual base salary
Compensation terms effective January 1, 2027
Promotional RSU award
35,008 shares
Granted effective November 4, 2026
RSU vesting installments
3 equal annual installments
Subject to continued employment or service through each vesting date
Initial employment agreement term
5 years
Agreement effective January 1, 2027
Automatic agreement extensions
1 year
Automatic extensions after the initial term
Key Terms
restricted stock unit, target annual bonus opportunity, aircraft time sharing agreement
3 terms
restricted stock unit financial
"promotional restricted stock unit (“RSU”) award covering 35,008 shares"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
target annual bonus opportunity financial
"a target annual bonus opportunity equal to at least 200% of his annual base salary"
aircraft time sharing agreement technical
"approved an aircraft time sharing agreement between the Company and James Francescon"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does James Francescon become President of CCS?
James Francescon becomes President on January 1, 2027. Robert J. Francescon will remain Chief Executive Officer and become the sole principal executive officer on that date, while Dale Francescon will continue as Executive Chairman.
What compensation will James Francescon receive at CCS?
The approved terms provide an annual base salary of $750,000 and a target annual bonus opportunity equal to at least 200% of his annual base salary. He also received an RSU award covering 35,008 shares, vesting in three equal annual installments subject to continued employment or service through each vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): November 4, 2026
(Exact name of registrant as specified in its charter)
| | | |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| | | |
| (Address of principal executive offices) | | (Zip Code) |
(303 ) 770-8300
(Registrant’s telephone number, including area code)
Not Applicable
(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:
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 |
| | | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 5.02.
Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 4, 2026, in furtherance of its succession planning efforts, the Board of Directors (the “Board”) of Century Communities, Inc. (the “Company”) elected James Francescon as President of the Company, effective as of January 1, 2027, succeeding Robert J. Francescon in that role, who will continue to serve as the Company’s Chief Executive Officer. In addition, in connection therewith, the Board determined that, effective as of January 1, 2027, Robert J. Francescon will become the Company’s sole principal executive officer as opposed to both Robert J. Francescon and Dale Francescon, the Company’s Executive Chairman, remaining co-principal executive officers of the Company.
James Francescon, age 37, has been with the Company for over seven years. He currently serves as Executive Vice President, Corporate Operations, a position he has held since November 2023, and from September 2021 to December 2024 also served as President, Century Living. Prior to serving as President of Century Living, he served as Corporate Vice President from April 2019 to September 2021. James Francescon possesses a broad background in all facets of operating a real estate company and has had responsibility for the acquisition, financing, development, construction, sale, and management of various residential projects, including land development, single-family homes, townhomes, condominiums, and apartments. Prior to joining the Company, James Francescon worked in private equity at GoldPoint Partners, a subsidiary of New York Life Investments, and in investment banking at J.P. Morgan Securities LLC. James Francescon holds a Bachelor of Science in Business Administration with concentration in Finance and Real Estate and a Master of Science in Finance from the University of Denver. Mr. Francescon also serves as a Trustee of the University of Denver, Children’s Hospital Colorado Foundation, and ACE Scholarships Colorado.
In connection with his promotion, the Compensation Committee of the Board (the “Compensation Committee”) approved an employment agreement between the Company and James Francescon pursuant to which, effective as of January 1, 2027, he will receive an annual base salary of $750,000, a target annual bonus opportunity equal to at least 200% of his annual base salary, eligibility to receive equity awards from time to time, reimbursement of term life insurance premiums and an automobile and cell phone allowance, and certain severance protections if his employment with the Company is terminated under certain circumstances, including a termination by the Company without cause or by James Francescon for good reason, as defined and set forth in a written employment agreement to be effective as of January 1, 2027 documenting these compensation terms and other aspects of his employment, including customary confidentiality provisions, as well as non-competition and non-solicitation provisions. The employment agreement will have an initial five-year term and provide for automatic one-year extensions thereafter. In addition, the Compensation Committee granted James Francescon, effective as of November 4, 2026, under the stockholder-approved Century Communities, Inc. 2022 Omnibus Incentive Plan a promotional restricted stock unit (“RSU”) award covering 35,008 shares of the Company’s common stock, which RSU award will vest in three equal annual installments from the date of grant, conditioned upon James Francescon remaining continuously employed by or providing services to the Company or any subsidiary of the Company through the applicable vesting date.
Also, in connection with the promotion, the Compensation Committee approved an aircraft time sharing agreement between the Company and James Francescon, which will govern any personal use by him of the Company’s aircraft and reimbursement for the costs of any such use.
As is standard and customary, the Company will enter into a written indemnification agreement with James Francescon, in substantially the form as entered into with the Company’s directors and other executive officers, pursuant to which the Company will agree to indemnify James Francescon to the fullest extent permitted under Delaware law against liabilities that may arise by reason of his service to the Company and to advance expenses incurred as a result of any proceeding against him as to which he could be indemnified.
Except as described in this report, there are no other arrangements or understandings between James Francescon and any other person pursuant to which James Francescon was selected as President of the Company and no other material plan, contract or arrangement (or material amendment thereto) to which James Francescon is a party or in which he participates that was or will be entered into and no grant or award to him or modification thereto, under any such plan, contract or arrangement in connection with his election as President of the Company. James Francescon is the son of Robert J. Francescon, the Company’s current Chief Executive Officer, and until January 1, 2027, President, and the nephew of Dale Francescon, the Company’s Executive Chairman. James Francescon has no other “family relationships,” as that term is defined in Item 401(d) of SEC Regulation S-K, with any other executive officer or any director of the Company. There have been no related party transactions since the beginning of the Company’s last fiscal year, or transactions currently proposed, regarding James Francescon or his immediate family members or affiliated entities that are required to be disclosed by Item 404(a) of Regulation S-K, except as described in this report and other than compensation as previously described in the Company’s most recent definitive proxy statement as filed by the Company with the Securities and Exchange Commission on March 25, 2026 in connection with the Company’s 2026 Annual Meeting of Stockholders.
The foregoing summary descriptions of the employment agreement, RSU award agreement, aircraft time sharing agreement, and indemnification agreement with James Francescon, are qualified in their entirety by reference to the complete text of the agreements, which employment agreement and aircraft time sharing agreement will be filed as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2026, and which forms of RSU award agreement and indemnification agreement are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K, and incorporated herein by reference.
Item 7.01.
Regulation FD Disclosure.
The Company announced the election of James Francescon as President of the Company in a press release issued on November 9, 2026, which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
The information contained in this Item 7.01 and Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any filings made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit
No. |
Description
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10.1
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Form of Employee Restricted Stock Unit Award Agreement for use with the Century Communities, Inc. 2022 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.3 to Century Communities, Inc.’s Current Report on Form 8-K filed with the SEC on May 5, 2022 (File No. 001-36491))
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10.2
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Form of director and officer indemnification agreement between Century Communities, Inc. and each director and officer (incorporated by reference to Exhibit 10.1 to Century Communities, Inc.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (File No. 001-36491))
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99.1
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Press release dated November 9, 2026 announcing the election of James Francescon as President (furnished herewith)
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104
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The cover page from this current report on Form 8-K, formatted in Inline XBRL (filed herewith)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: November 9, 2026
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CENTURY COMMUNITIES, INC.
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| By: | /s/ J. Scott Dixon | |||
| Name: | J. Scott Dixon | |||
| Title: | Chief Financial Officer | |||
Exhibit 99.1
FOR IMMEDIATE RELEASE
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For information, contact:
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Michelle Cahill
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November 9, 2026
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Century Communities, Inc.
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303.301.8662
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Michelle.Cahill@centurycommunities.com
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Headline: Century Communities Announces Promotion of Jim Francescon to President
Subhead: Appointment Reflects Company’s Commitment to Long-Term Succession Planning for Top 10 Public Homebuilder
GREENWOOD VILLAGE, Colo., November 9, 2026 – Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America's Most Trustworthy Companies by Newsweek and U.S. News & World Report’s Best Companies to Work For—today announced that, as part of its long-term succession planning process, Jim Francescon has been promoted to President, effective January 1, 2027. Mr. Francescon currently serves as Executive Vice President, Corporate Operations. Dale Francescon will continue to serve as Executive Chairman and Rob Francescon, who currently serves as Chief Executive Officer and President, will continue to serve as Chief Executive Officer.
As President, Mr. Francescon will oversee the Company’s homebuilding operations, land, and related corporate functions and will help drive the Company’s strategy and growth.
“Today’s announcement reflects the implementation of a succession plan that our Board, Rob, and I have been planning and executing over the past two years,” said Dale Francescon, Executive Chairman of Century Communities. “We have been very thoughtful in how we have approached succession, with the goal of best positioning Century for long-term alignment with shareholders, success, and growth.”
“Jim has played an integral role in shaping our strategic direction and our growth into one of the largest homebuilders in the country, including leading our recent acquisitions that have deepened our footprint and strengthened our platform,” said Rob Francescon, Chief Executive Officer of Century Communities. “I look forward to continuing to work closely with Jim and our entire executive team as we position Century for continued success.”
“I am honored to take on this role and grateful to our Board, Dale, and Rob for their confidence,” said Jim Francescon. “We have built a strong operating platform and a talented team, and I am excited about the opportunities ahead as we continue to grow and deliver on our promise of A Home for Every Dream®.”
Mr. Francescon joined Century in 2019 and most recently served as Executive Vice President, Corporate Operations, overseeing much of the Company’s corporate operations, including homebuilding, land, strategy, business development, and mergers and acquisitions. In this role, he has led the Company’s acquisition strategy, including its recent acquisitions of HistoryMaker Homes, Anglia Homes, and Landmark Homes of Tennessee, which expanded Century’s presence in Dallas-Fort Worth, Houston, and Nashville, respectively. Before serving as Executive Vice President, Mr. Francescon was President of Century Living, the Company’s multifamily platform, and before that served as Corporate Vice President. Before joining Century, Mr. Francescon worked in private equity at GoldPoint Partners, a subsidiary of New York Life Investments, and in investment banking at J.P. Morgan Securities LLC. He holds a Bachelor of Science in Business Administration with a concentration in Finance and Real Estate and a Master of Science in Finance from the University of Denver. Mr. Francescon also serves as a Trustee of the University of Denver, Children’s Hospital Colorado Foundation, and ACE Scholarships Colorado.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for four consecutive years. Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025–2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as “will,” “continue,” “anticipate,” “believe,” “expect,” “estimate,” and “plan,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include statements regarding the Company’s leadership transition, succession planning, and anticipated future growth. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: risks associated with leadership changes; changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company’s business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company’s mortgage lending business and increased use of adjustable-rate mortgages; risks associated with the Company’s recent HistoryMaker Homes acquisition, including the possibility that the Company will not realize the anticipated benefits of such acquisition; risks associated with the Company’s multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
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