KBH » Topics » Other Matters

These excerpts taken from the KBH 10-K filed Jan 29, 2009.
Other Matters
 
We are also involved in litigation and governmental proceedings incidental to our business. These cases are in various procedural stages and, based on reports of counsel, we believe that provisions or reserves made for potential losses are adequate and any liabilities or costs arising out of currently pending litigation should not have a materially adverse effect on our consolidated financial position or results of operations.
 
Other Matters
 
We are also involved in litigation and governmental proceedings incidental to our business. These cases are in various procedural stages and, based on reports of counsel, we believe that provisions or reserves made for potential losses are adequate and any liabilities or costs arising out of currently pending litigation should not have a materially adverse effect on our consolidated financial position or results of operations.
 
Other Matters
 
We are also involved in litigation and governmental proceedings incidental to our business. These cases are in various procedural stages and, based on reports of counsel, we believe that provisions or reserves made for potential losses are adequate and any liabilities or costs arising out of currently pending litigation should not have a materially adverse effect on our consolidated financial position or results of operations.
 
Other
Matters



 



We are also involved in litigation and governmental proceedings
incidental to our business. These cases are in various
procedural stages and, based on reports of counsel, we believe
that provisions or reserves made for potential losses are
adequate and any liabilities or costs arising out of currently
pending litigation should not have a materially adverse effect
on our consolidated financial position or results of operations.


 




Other
Matters



 



We are also involved in litigation and governmental proceedings
incidental to our business. These cases are in various
procedural stages and, based on reports of counsel, we believe
that provisions or reserves made for potential losses are
adequate and any liabilities or costs arising out of currently
pending litigation should not have a materially adverse effect
on our consolidated financial position or results of operations.


 




Other
Matters



 



We are also involved in litigation and governmental proceedings
incidental to our business. These cases are in various
procedural stages and, based on reports of counsel, we believe
that provisions or reserves made for potential losses are
adequate and any liabilities or costs arising out of currently
pending litigation should not have a materially adverse effect
on our consolidated financial position or results of operations.


 




Other Matters
 
We are also involved in litigation and governmental proceedings incidental to our business. These cases are in various procedural stages and, based on reports of counsel, we believe that provisions or reserves made for potential losses are adequate and any liabilities or costs arising out of currently pending litigation should not have a materially adverse effect on our consolidated financial position or results of operations.
 
Other
Matters



 



We are also involved in litigation and governmental proceedings
incidental to our business. These cases are in various
procedural stages and, based on reports of counsel, we believe
that provisions or reserves made for potential losses are
adequate and any liabilities or costs arising out of currently
pending litigation should not have a materially adverse effect
on our consolidated financial position or results of operations.


 




Other Matters
 
Certain Relationships and Related Party Transactions
   Matthew Karatz, a director of land acquisition and planning for our Greater Los Angeles division, is the son of Bruce Karatz, our former Chairman and Chief Executive Officer. In our 2006 fiscal year, Matthew Karatz earned $184,535, comprised of salary, bonus and an automobile and gas allowance. Robert Karatz, who manages real estate broker relations for our Inland Valley division, is the brother of Bruce Karatz. In our 2006 fiscal year, Robert Karatz earned $110,982, comprised of professional services fees, incentive pay and an automobile and gas allowance. Both Matthew Karatz and Robert Karatz have been employed by us since 2002. Lance Freed, the son of Robert Freed, Senior Vice President, served as a Land Acquisition Analyst for the first half of our 2006 fiscal year and as a Land Associate for the second half of our 2006 fiscal year for our Central Valley Division. In our 2006 fiscal year, Lance Freed earned $61,597, comprised of salary, bonus and an automobile allowance. Lance Freed resigned in January 2007.
Section 16(a) Beneficial Ownership Reporting Compliance
   Based upon our review of Forms 3, 4 and 5 and any amendments thereto furnished to us in compliance with Section 16 of the Securities Exchange Act of 1934, as amended, all such Forms were filed on a timely basis by our reporting persons during fiscal year 2006.
Financial Statements
   Our audited consolidated financial statements and notes thereto, including selected financial information and management’s discussion and analysis of financial condition and results of operations for the fiscal year ended November 30, 2006, are included on pages 25 through 88 of our Annual Report on Form 10-K for that period. The Form 10-K was mailed to stockholders on March 5, 2007. The financial statements, the report of the independent auditors thereon, selected financial information, and management’s discussion and analysis of financial condition and results of operations in the Form 10-K are incorporated by reference herein. Additional copies of the Form 10-K are available without charge upon request to the Corporate Secretary at KB Home, 10990 Wilshire Boulevard, Los Angeles, CA 90024. Exhibits to the Form 10-K will be provided upon request and payment of copying charges. You may also view and download copies of the 2006 Annual Report on Form 10-K from our website at: http://www.kbhome.com/ investor.
Other Business
   The Board of Directors knows of no business other than that described in this Proxy Statement that will be presented for consideration at the Annual Meeting. If other business shall properly come before the Annual Meeting, shares represented by valid proxies will be voted on such matters in accordance with the best judgment of the persons named as proxies on the Proxy Cards for the Annual Meeting, or their duly authorized designees.

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Table of Contents

Stockholder Proposals for 2008 Annual Meeting
   For inclusion in the Proxy Statement and form of proxy for our 2008 Annual Meeting of Stockholders, we must receive no later than November 5, 2007 any proposal of a stockholder intended to be presented at that meeting. Further, management proxies for our 2008 Annual Meeting will use their discretionary voting authority with respect to any proposal presented at the meeting by a stockholder who does not provide us with written notice of the proposal on or prior to January 19, 2008.
By Order of the Board of Directors,
/s/ William A. Richelieu
William A. Richelieu
Assistant Corporate Secretary
Los Angeles, California
March 5, 2007

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Table of Contents

ATTACHMENT A
This excerpt taken from the KBH 10-K filed Feb 13, 2007.
Other Matters
 
We are also involved in litigation and governmental proceedings incidental to our business. These cases are in various procedural stages and, based on reports of counsel, it is our opinion that provisions or reserves made for potential losses are adequate and any liabilities or costs arising out of currently pending litigation will not have a materially adverse effect on our consolidated financial position or results of operations.
 
This excerpt taken from the KBH DEF 14A filed Mar 6, 2006.
Other Matters
 
Certain Relationships and Related Party Transactions
   Matthew Karatz, a director of land acquisition and planning for our Greater Los Angeles division, is the son of Bruce Karatz, our Chairman and Chief Executive Officer. In fiscal year 2005, Matthew Karatz earned $255,600, comprised of salary, bonus and an automobile and gas allowance. Robert Karatz, a sales representative for our Greater Los Angeles division, is the brother of Bruce Karatz. In fiscal year 2005, Robert Karatz earned $128,050, comprised of salary, bonus and an automobile and gas allowance. The compensation earned by these individuals, both of whom joined us in 2002, is consistent with compensation paid to other employees in similar positions.
Section 16(a) Beneficial Ownership Reporting Compliance
   Based upon our review of Forms 3, 4 and 5 and any amendments thereto furnished to us in compliance with Section 16 of the Securities Exchange Act of 1934, as amended, all such Forms were filed on a timely basis by our reporting persons during fiscal year 2005, except for a late filing by Mr. Robert Freed regarding the acquisition from us of 18,506 restricted shares of our Common Stock on January 14, 2005, and a late filing by Ms. Melissa Lora regarding her November 29, 2004 acquisition of 3 shares of common stock through her individual brokerage account effected pursuant to an August 6, 2004 instruction given in accordance with Rule 10b5-1.
Financial Statements
   Our audited consolidated financial statements and notes thereto, including selected financial information and management’s discussion and analysis of financial condition and results of operations for the fiscal year ended November 30, 2005 are included on pages 37 through 68 of our Annual Report on Form 10-K for that period. The Form 10-K was mailed to stockholders on March 6, 2006. The financial statements, the report of the independent auditors thereon, selected financial information, and management’s discussion and analysis of financial condition and results of operations in the Form 10-K are incorporated by reference herein. Additional copies of the Form 10-K are available without charge upon request to the Corporate Secretary at KB Home, 10990 Wilshire Boulevard, Los Angeles, CA 90024. Exhibits to the Form 10-K will be provided upon request and payment of copying charges. You may also view and download copies of the 2005 Annual Report on Form 10-K from our website at: http://www.kbhome.com/investor/main.
Other Business
   The Board of Directors knows of no business other than that described in this Proxy Statement that will be presented for consideration at the Annual Meeting. If other business shall properly come before the Annual Meeting, shares represented by valid proxies will be voted on such matters in accordance with the best judgment of the persons named as proxies on the Proxy Cards, or their duly authorized designees.

51


 

Stockholder Proposals for 2007 Annual Meeting
   For inclusion in the Proxy Statement and form of proxy for our 2007 Annual Meeting of Stockholders, we must receive no later than November 6, 2006 any proposal of a stockholder intended to be presented at that meeting. Further, management proxies for our 2007 Annual Meeting will use their discretionary voting authority with respect to any proposal presented at the meeting by a stockholder who does not provide us with written notice of the proposal on or prior to January 20, 2007.
By Order of the Board of Directors,
Charles F. Carroll
Corporate Secretary
Los Angeles, California
March 6, 2006

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Attachment A
(KB HOME LOGO)
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