KB Home SEC Filings

KB Home, a major U.S. homebuilder, filed its annual report describing a business built around single-family homes, townhomes and condos for primarily first-time and first move-up buyers. Homebuilding generated about 99.6% of 2025 revenue, with operations in four regions across nine states and 49 major markets.

The company’s KB Edge strategy focuses on expanding within its existing footprint, targeting top-five share in each market, tightly managing land, and emphasizing its Built to Order model, where most homes are pre-sold and customized through KB Home Design Studios. At November 30, 2025, it controlled 64,612 lots across stages of development and highlighted efforts to improve build times and asset efficiency.

KB Home also stresses customer satisfaction, human capital development and sustainability, including extensive use of ENERGY STAR and WaterSense standards and solar in California. The risk section underscores exposure to housing demand, affordability, mortgage availability, inflation, supply chain constraints, regulatory complexity and geographic concentration in states such as California, Florida, Nevada and Texas.

KB Home Chief Executive Officer Jeffrey T. Mezger reported routine share dispositions related to tax withholding. On January 18, 2026, he disposed of 4,038 shares of KB Home common stock at $61.32 per share, and on January 19, 2026, he disposed of an additional 8,644 shares at $61.32 per share. According to the filing, these shares were surrendered to the issuer solely to satisfy tax withholding obligations from the vesting of a previous grant of restricted shares, rather than being open‑market sales. After these transactions, Mezger directly beneficially owned 1,755,092 shares of KB Home common stock.

KB Home executive reports small share dispositions to cover taxes. EVP and General Counsel Brian J. Woram surrendered a total of 1,149 shares of KB Home common stock to the company at a price of $61.32 per share on January 18 and 19, 2026. The transactions, coded "F," were made solely to satisfy tax withholding obligations triggered by the vesting of a prior restricted stock grant. After these withholding-related dispositions, Woram beneficially owned 193,949 shares of KB Home common stock directly.

KB Home executive William R. Hollinger reported a small stock disposition related to tax withholding. On 01/19/2026, 318 shares of KB Home common stock were transferred to the company at a price of $61.32 per share to cover tax obligations from the vesting of a prior restricted share grant. After this withholding transaction, Hollinger beneficially owned 134,104 shares of KB Home common stock directly.

KB Home reported that director James C. Weaver has decided not to seek re-election at the company’s 2026 Annual Meeting of Stockholders. He will continue to serve as a director until his current term ends at that meeting. The company stated that Mr. Weaver’s decision is not due to any disagreement with KB Home or its board of directors.

KB Home reported that it has released financial results for the three months and twelve months ended November 30, 2025. The detailed results are contained in a press release dated December 18, 2025, which is furnished as an exhibit to this disclosure. The company states that this information is furnished rather than filed under securities laws, so it is not automatically subject to certain liability provisions or incorporated into other regulatory reports unless specifically referenced.

KB Home entered a new revolving credit agreement providing up to $1.2 billion in borrowing capacity, which may be increased to $1.7 billion under certain circumstances with additional lender commitments. The facility replaces the prior revolver and matures on November 12, 2030, with borrowings available for general corporate purposes. The company also amended and restated its $360.0 million senior unsecured term loan, extending its maturity to November 12, 2029.

Key terms include interest rates based on term SOFR or daily SOFR plus 1.25%–1.75%, or a base rate plus 0.25%–0.75%, depending on leverage. The facilities include covenants on tangible net worth, leverage, liquidity or interest coverage, a borrowing base, and limits on investments in joint ventures and non‑guarantor subsidiaries, with customary events of default and change‑of‑control provisions; certain subsidiaries must guarantee the obligations. Concurrently, KB Home voluntarily terminated its prior $1.09 billion revolving facility dated February 18, 2022, incurring no early termination penalties.

State Street Corporation filed a Schedule 13G reporting beneficial ownership in KB Home. As of 09/30/2025, State Street beneficially owned 3,484,655 shares of KB Home common stock, representing 5.1% of the class.

The filing lists shared voting power over 3,253,982 shares and shared dispositive power over 3,484,655 shares, with no sole voting or sole dispositive power. Subsidiaries acting as investment advisers include SSGA Funds Management, Inc., State Street Global Advisors Trust Company, and affiliated SSGA entities.

State Street certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of KB Home.

KB Home (KBH)

After the transaction, he beneficially owns 104,062 shares directly. The filing notes multiple trade executions within a price range of $60.02 to $60.25.