On January 23, 2015, Taylor Morrison Home Corporation announced the Mr. Greg Kranias resigned as a member of the Board of Directors the Company. On January 23, 2015, the Company appointed Mr. James Sholem to the Board to fill the vacancy created by the resignation of Mr. Kranias. Mr. Sholem will serve as a Class II director and has not been appointed to any committees of the Board.

Mr. Sholem was designated as a nominee to the Board by an affiliate of TPG pursuant to the Stockholders Agreement and will not be compensated by the Company for his services as a director. Mr. Sholem is a Principal at TPG Real Estate.