Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.



(e) Annual Incentive Awards. On January 19, 2023, the KB Home board of directors
management development and compensation committee determined the 2022 fiscal
year incentive awards to eligible participants under KB Home's annual incentive
compensation program. In addition, the board of directors approved the award to
Jeffery T. Mezger, KB Home's president and chief executive officer. Under the
2022 fiscal year incentive program, certain participants were granted a portion
of their incentive payout in shares of restricted stock that will vest in equal
installments over a three-year period beginning January 19, 2024. The incentive
awards and forms of payout (cash and restricted stock) to KB Home's named
executive officers are set forth as applicable in the table below. The shares of
restricted stock were calculated based on the closing price of KB Home common
stock on January 19, 2023, which was $34.80.

Named Executive Officer            Total Annual Incentive         Cash          Restricted Stock ($)       Restricted Stock (#)
Jeff J. Kaminski                  $            2,272,201    $    2,272,201    $                   -                                0
Jeffrey T. Mezger                              9,585,872         7,480,000                   2,105,872                        60,514
Robert V. McGibney                             3,253,541         3,253,541                           -                             0
Albert Z. Praw                                 1,821,451         1,821,451                           -                             0

In addition, Mr. McGibney received a performance-based cash award payout of $402,758. This award was granted to Mr. McGibney in 2019, prior to his becoming an executive officer of the registrant. The payout was based on the Company achieving certain operating income-related performance in each year of the three-year performance period ending November 30, 2022.




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