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; Performance Cash Payout. On January 21, 2021, the KB Home board of directors management development and compensation committee determined the 2020 fiscal year incentive awards to eligible participants under KB Home's annual incentive compensation program. The awards to KB Home's named executive officers are set forth in the table below. In addition, the board of directors approved the award to Jeffery T. Mezger, KB Home's president and chief executive officer.



Name                  Annual Incentive Award
Jeff J. Kaminski     $            1,655,612
Matthew M. Mandino   $            2,164,254
Jeffrey T. Mezger    $            6,523,927
Albert Z. Praw       $            1,327,546
Brian J. Woram       $            1,226,468

The committee also approved a $337,639 payout of a long-term performance cash award to Mr. Mandino that was granted to him in October 2017 based on operating income performance achieved in each year of the award's three-year performance period relative to the performance goals established for each such year. This award was granted to Mr. Mandino before he was appointed as an executive officer, and none of the other named executive officers participated in this program.

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