Effective July 1, 2025, NVR, Inc. (NVR, Financial) has announced the appointment of Michael J. DeVito to its Board of Directors. Mr. DeVito will serve as a director until the 2026 Annual Meeting of Shareholders, continuing until a successor is duly elected and qualified. The Board has determined that Mr. DeVito meets the "independent" criteria under the New York Stock Exchange's listing standards.
In addition to his role on the Board, Mr. DeVito will also serve on the Compensation Committee, effective the same date. His compensation as a non-employee director will align with that of other non-employee directors at NVR, Inc. Furthermore, Mr. DeVito has been granted 342 non-qualified stock options under the NVR, Inc. 2018 Equity Incentive Plan, allowing him to purchase common stock of the company. The terms of this grant are consistent with those provided to other non-employee directors.
This strategic appointment underscores NVR, Inc.'s commitment to strengthening its leadership team with experienced and independent directors, ensuring robust governance and oversight as the company continues to grow and deliver value to its shareholders.
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