TRI Pointe Group, Inc.d18rn0p25nwr6d.cloudfront.net/CIK-0001561680/699c... · Jamboree Road, Suite...

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549_____________

SCHEDULE 14A(RULE 14a‑‑101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATIONProxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934_____________

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NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

TotheStockholders:Anannualmeetingofstockholders(the"annualmeeting")ofTRIPointeGroup,Inc.("TRIPointe")willbeheldat10:00a.m.local

time,onFriday,April27,2018,atourcorporateoffices,locatedat19540JamboreeRoad,Suite300,Irvine,California92612.Theannualmeetingwillbeheldforthefollowingpurposes:

• toelectthesixnomineesnamedintheproxystatementtoserveonourBoardofDirectorsuntilhisorhersuccessoriselectedandqualifiedoruntilhisorherearlierresignation,removalordeath(ProposalNo.1);

• toratifytheappointmentofErnst&YoungLLPasTRIPointe'sindependentregisteredpublicaccountingfirmfor2018(ProposalNo.2);and

• totransactanyotherbusinessthatmayproperlycomebeforetheannualmeetingoranyadjournmentsorpostponementsthereof.

Theseitemsofbusinessaremorefullydescribedintheproxystatementaccompanyingthisnotice.Our Board of Directorsrecommends stockholders vote "FOR" the election of each of the six director nominees listed in Proposal No. 1 and "FOR" ProposalNo. 2.

AllTRIPointestockholdersarecordiallyinvitedtoattendtheannualmeeting,althoughonlythosestockholdersofrecordatthecloseofbusinessonFebruary26,2018areentitledtoreceivenoticeoftheannualmeetingandtovoteattheannualmeetingandanyadjournmentsorpostponementsoftheannualmeeting.

WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING IN PERSON, PLEASE COMPLETE, DATE,SIGN AND RETURN THE ENCLOSED PROXY CARD IN THE ENCLOSED POSTAGE-PAID ENVELOPE OR VOTE YOURSHARES OF TRI POINTE COMMON STOCK BY CALLING THE TOLL-FREE TELEPHONE NUMBER OR BY USING THEINTERNET AS DESCRIBED IN THE INSTRUCTIONS INCLUDED WITH YOUR PROXY CARD AT YOUR EARLIESTCONVENIENCE.

WehaveelectedtotakeadvantageoftherulesthatallowcompaniestofurnishtheirproxymaterialsviatheInternet.Asaresult,theproxystatementwasmadeavailableontheInternetandwemailedaNoticeofInternetAvailabilityofProxyMaterialscontaininginstructionsonhowtoaccessourproxystatementandannualreportonoraboutMarch16,2018.TheNoticeofInternetAvailabilityofProxyMaterialsalsocontainsinstructionsonhowtorequestapapercopyofourproxystatementandannualreport.TRI Pointe's proxy materials areavailable online at http://www.astproxyportal.com/ast/18094.

ByOrderoftheBoardofDirectors,

DavidC.LeeSecretary

Pleasevoteyoursharespromptly.Youcanfindinstructionsforvotingontheenclosedproxycard.

March16,2018

TABLE OF CONTENTS

INFORMATIONABOUTTHEANNUALMEETING 1

QUESTIONSANDANSWERSABOUTTHEANNUALMEETING 4

PROPOSALNO.1ELECTIONOFDIRECTORS 8

PROPOSALNO.2RATIFICATIONOFSELECTIONOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM 10

BOARDOFDIRECTORS 11

CORPORATEGOVERNANCE 15

COMPENSATIONDISCUSSIONANDANALYSIS 22

COMPENSATIONCOMMITTEEREPORT 40

OWNERSHIPOFOURCOMMONSTOCK 41

EQUITYCOMPENSATIONPLANINFORMATION 43

EXECUTIVECOMPENSATION 44

DIRECTORCOMPENSATION 55

REPORTOFTHEAUDITCOMMITTEE 57

MANAGEMENT 58

SECTION16(a)BENEFICIALOWNERSHIPREPORTINGCOMPLIANCE 60

CERTAINRELATIONSHIPSANDRELATEDPARTYTRANSACTIONS 61

AUDITCOMMITTEEMATTERS 63

STOCKHOLDERPROPOSALSFOR2019ANNUALMEETING 64

INFORMATION ABOUT THE ANNUAL MEETING

General; Date; Time and Place; Purposes of the Meeting

TheenclosedproxyissolicitedonbehalfofourBoardofDirectorsforuseattheannualmeetingofstockholdersofTRIPointeGroup,Inc.("TRIPointe,""we,""us"orthe"Company")tobeheldat10:00a.m.localtime,onFriday,April27,2018oratanyadjournmentsorpostponementsoftheannualmeeting,forthepurposessetforthinthisproxystatementandintheaccompanyingnoticeofannualmeeting.Theannualmeetingwillbeheldatourcorporateoffices,locatedat19540JamboreeRoad,Suite300,Irvine,California92612.

Attheannualmeeting,stockholderswillbeaskedto:

• electthesixnomineesnamedinthisproxystatementtoserveonourBoardofDirectorsuntilhisorhersuccessoriselectedandqualifiedoruntilhisorherearlierresignation,removalordeath(ProposalNo.1);

• ratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfor2018(ProposalNo.2);and

• transactanyotherbusinessthatmayproperlycomebeforetheannualmeetingoranyadjournmentsorpostponementsthereof.

Whenthisproxystatementreferstothe"annualmeeting,"itisalsoreferringtoanyadjournmentorpostponementoftheannualmeeting,ifitisdeterminedbyourBoardofDirectorstobenecessaryorappropriate.

Electronic Delivery

InaccordancewiththerulesandregulationsadoptedbytheSecuritiesandExchangeCommission("SEC"),wehaveelectedtofurnishtheproxymaterialstoourstockholdersviatheInternet.Webelieveelectronicdeliverywillexpeditestockholders'receiptofproxymaterials,whileloweringcostsandreducingtheenvironmentalimpactoftheannualmeetingbyreducingprintingandmailingoffullsetsofproxymaterials.ThisproxystatementwasmadeavailableontheInternetandwemailedaNoticeofInternetAvailabilityofProxyMaterials(the"Notice")containinginstructionsonhowtoaccesstheproxymaterialsonoraboutMarch16,2018.Ifastockholderwouldliketoreceiveapapercopyoftheproxymaterials,theNoticecontainsinstructionsonhowtoreceiveapapercopy.

Record Date; Quorum

HoldersofrecordofourcommonstockatthecloseofbusinessonFebruary26,2018,therecorddatefortheannualmeeting,areentitledtoreceivenoticeof,andtovoteat,theannualmeetingandanyadjournmentsorpostponementsthereof.Atthecloseofbusinessontherecorddate,151,391,065sharesofourcommonstockwereoutstandingandentitledtovote.Stockholdersareentitledtoonevoteoneachmattersubmittedtothestockholdersforeachshareofourcommonstockheldasoftherecorddate.

Aquorummustbeestablishedinorderforourstockholderstotakeactionattheannualmeeting.Thepresenceattheannualmeeting,inpersonorbyproxy,oftheholdersofstockhavingamajorityofvotesthatcouldbecastbytheholdersofalloutstandingstockentitledtovoteattheannualmeetingwillconstituteaquorum.Ifashareisrepresentedforanypurposeattheannualmeeting,itwillbedeemedpresentforpurposesofdeterminingwhetheraquorumexists.Abstentionsand"brokernon-votes"willbe

countedaspresentandentitledtovoteforpurposesofdeterminingaquorum.Ifaquorumispresentwhentheannualmeetingisconvened,thesubsequentwithdrawalofstockholders,eveniflessthanaquorumremainsaftersuchwithdrawal,willnotaffecttheabilityoftheremainingstockholderstolawfullytransactbusiness.

AsofFebruary26,2018,ourdirectorsandcurrentexecutiveofficersheldapproximately1.3%ofthesharesentitledtovoteattheannualmeeting.See"OwnershipofOurCommonStock."

Solicitation of Proxies

Wewillbeartheentirecostofsolicitingproxiesfromourstockholders.Inadditiontosolicitationofproxiesbymail,proxiesmaybesolicitedinperson,bytelephoneorotherelectroniccommunications,suchasemailsorpostingsonourwebsitebyourdirectors,officersandemployees,whowillnotreceiveadditionalcompensationfortheseservices.WehaveretainedD.F.King&Co.,Inc.toassistinthesolicitationofproxiesforafeeof$11,500plusexpenses.Banks,brokersandothernomineeswillberequestedtoforwardsolicitingmaterialtobeneficialownersofstockheldofrecordbythem,andwewillreimbursethosepersonsfortheirreasonableexpensesindoingso.

Adjournments and Postponements

Althoughitisnotcurrentlyexpected,ifitisdeterminedbyourBoardofDirectorstobenecessaryorappropriate,theannualmeetingmaybeadjournedorpostponed.Noticewillnotbegivenofanysuchadjournedmeetingifthedate,timeandplace,ifany,thereofandthemeansofremotecommunication,ifany,bywhichstockholdersandproxyholdersmaybedeemedpresentinpersonandvoteatsuchadjournedmeetingareannouncedatthemeetingatwhichtheadjournmentistaken.Attheadjournedmeeting,anybusinessmaybetransactedwhichmighthavebeentransactedattheoriginalmeeting.Iftheadjournmentisformorethan30days,orifaftertheadjournmentanewrecorddateisfixedfortheadjournedmeeting,anoticeoftheadjournedmeetingwillbegiventoeachstockholderofrecordentitledtovoteattheadjournedmeeting.IfourBoardofDirectorsfixesanewrecorddatefordeterminationofstockholdersentitledtovoteatanadjournedmeeting,ourBoardofDirectorswillalsofixastherecorddateforstockholdersentitledtonoticeofsuchadjournedmeetingthesameoranearlierdateastherecorddatedeterminedforstockholdersentitledtovoteattheadjournedmeeting.

Attending the Annual Meeting

Allstockholders,includingstockholdersofrecordandstockholderswhoholdtheirsharesin"streetname"throughbanks,brokersorothernominees,areinvitedtoattendtheannualmeeting.Stockholdersofrecordcanvoteinpersonattheannualmeeting.Toattendtheannualmeeting,stockholdersofrecordneedtobringavalidpictureidentification.Ifastockholderholdssharesin"streetname"throughanaccountwithabank,brokerorothernominee,theholderwillneedtocontactitsbank,brokerorothernomineeandobtaina"legalproxy"fromthebank,brokerorothernomineeandpresentthe"legalproxy"andvalidpictureidentificationattheannualmeeting,which"legalproxy"willserveasthestockholder'sadmissionticket.Cellphonesmustbeturnedoffpriortoenteringtheannualmeeting.Camerasandvideo,audiooranyotherelectronicrecordingdeviceswillnotbeallowedinthemeetingroomduringtheannualmeeting,excepttotheextentpermittedbyus.Youcanobtaindirectionstobeabletoattendtheannualmeetingandvoteinperson,byrequestingtheminwritingorbytelephonefromusatthefollowingaddressandtelephonenumber:TRIPointeGroup,Inc.,19540JamboreeRoad,Suite300,Irvine,California92612,Attention:InvestorRelations;Telephone:(949)478-8696.

Householding

SECrulesallowdeliveryofasingledocumenttohouseholdsatwhichtwoormorestockholdersreside.Thisprocedure,referredtoas"householding,"reducesthevolumeofduplicateinformationreceivedbystockholders,aswellasourexpenses.Ifastockholderofrecordiseligibleforhouseholding,butitandotherstockholdersofrecordwithwhichitsharesanaddressreceivemultiplecopiesoftheNotice,orifastockholderofrecordholdsstockinmorethanoneaccount,andineithercasethestockholderwishestoreceiveasinglecopyoftheNoticeforitshousehold,itshouldnotifyourCorporateSecretary.IfastockholderparticipatesinhouseholdingandwishestoreceiveaseparatecopyoftheNotice,ordoesnotwishtoparticipateinhouseholdingandpreferstoreceiveseparatecopiesoftheNoticeinthefuture,itshouldnotifyourCorporateSecretary.AstockholdermaynotifyourCorporateSecretaryinwritingatTRIPointeGroup,Inc.,19540JamboreeRoad,Suite300,Irvine,California92612,Attention:CorporateSecretary,orbytelephoneat(949)438-1400.

Ifastockholderholdsitssharesthroughanintermediarythatisutilizinghouseholdingandthestockholderwishestoreceiveseparatecopiesofourannualreportandproxystatementinthefuture,orifitisreceivingmultiplecopiesofourproxymaterialsandannualreportandwishestoreceiveonlyone,itshouldcontactitsbank,broker,orothernomineerecordholder.

QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING

Thefollowingaresomeofthequestionsthatstockholdersmayhaveabouttheannualmeetingandanswerstothosequestions.Thesequestionsandanswersarenotmeanttobeasubstitutefortheinformationcontainedintheremainderofthisproxystatement,andthisinformationisqualifiedinitsentiretybythemoredetaileddescriptionsandexplanationscontainedelsewhereinthisproxystatement.Weurgeourstockholderstoreadthisproxystatementinitsentiretypriortomakinganydecision.

Q: What proposals will be voted on at the annual meeting?

A: Stockholderswillvoteonthefollowingproposals:

• toelectthesixnomineesnamedinthisproxystatementtoserveonourBoardofDirectorsuntilhisorhersuccessoriselectedandqualifiedoruntilhisorherearlierresignation,removalordeath(ProposalNo.1);and

• toratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfor2018(ProposalNo.2).

Q: How does our Board of Directors recommend stockholders vote?

A: OurBoardofDirectorsrecommendsthatstockholdersvote:

• "FOR "theelectionofeachofthesixnomineestoourBoardofDirectorsuntilhisorhersuccessoriselectedandqualifiedoruntilhisorherearlierresignation,removalordeath(ProposalNo.1);and

• "FOR "theratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfor2018(ProposalNo.2).

Questions With Respect to the Election of Directors (Proposal No. 1)

Q: What vote is required for election of directors?

A: OurBylawsprovideformajorityvotinginuncontesteddirectorelections.Uncontesteddirectorelectionsaredefinedasanymeetingofstockholdersatwhichdirectorsaretobeelectedandthenumberofnomineesdoesnotexceedthenumberofdirectorstobeelected.Theelectionofdirectorsattheannualmeetingwillbeanuncontesteddirectorelection,asdefined.Therefore,eachnomineeforelectionasadirectorwillbeelectedattheannualmeetingifthenumberofvotescast"FOR "thenominee'selectionexceedsthenumberofvotescast"AGAINST "thenominee'selection.Abstentionsand"brokernon-votes"willnotbecountedasvotescastandwillnotaffecttheoutcomewithregardtothisproposal.Thereisnocumulativevotingintheelectionofdirectors.

Q: What if a stockholder returns a proxy but does not indicate how the shares should be voted with respect to Proposal No. 1?

A: Ifastockholdersubmitsaproperlyexecutedproxytousbuttheproxydoesnotindicatehowitshouldbevotedonthisproposal,thesharessubjecttotheproxywillbevoted"FOR "theelectionofeachofthesixnomineesnamedinthisproxystatementtoourBoardofDirectors.

Q: What if a stockholder returns a proxy but instructs the proxy holder to abstain with respect to one or more nominees?

A: Ifastockholdersubmitsaproperlyexecutedproxytousandinstructstheproxyholdertoabstainwithrespecttooneormorenominees,thesharessubjecttotheproxywillnotbevotedfororagainstthatnomineeorthosenomineesandwillbevoted"FOR "or"AGAINST "theremainingnominee(s),ifany,asindicatedontheproxy.

Q: What if a stockholder is a beneficial owner of shares held in "street name" and fails to provide voting instructions withrespect to Proposal No. 1?

A: Ifastockholderisthebeneficialownerofsharesheldin"streetname"throughitsbank,brokerorothernominee,thebank,brokerorothernomineewilltypicallybeprohibitedfromvotinginitsdiscretiononthisproposalwithrespecttothatstockholder'ssharesandthese"brokernon-votes"willnotaffecttheoutcomeoftheelection.

Questions With Respect to the Ratification of the Appointment of Auditors (Proposal No. 2)

Q: What vote is required to approve the ratification of the appointment of auditors?

A: PursuanttoourBylaws,thisproposalrequirestheaffirmativevoteoftheholdersofstockhavingamajorityofthevotesthatcouldbecastbythestockholdersentitledtovoteontheproposalthatarepresentinpersonorbyproxyattheannualmeeting.

Q: What if a stockholder returns a proxy but does not indicate how the shares should be voted with respect to Proposal No. 2?

A: Ifastockholdersubmitsaproperlyexecutedproxytousbuttheproxydoesnotindicatehowitshouldbevotedonthisproposal,thesharessubjecttotheproxywillbevoted"FOR "theratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmfor2018.

Q: What if a stockholder returns a proxy but instructs the proxy holder to abstain with respect to Proposal No. 2?

A: Ifastockholdersubmitsaproperlyexecutedproxytousandtheproxyinstructstheproxyholdertoabstainfromvotingonthisproposal,thesharessubjecttotheproxywillnotbevoted,andwillhavetheeffectofavote"AGAINST ",withregardtothisproposal.

Q: What if a stockholder is a beneficial owner of shares held in "street name" and fails to provide voting instructions withrespect to Proposal No. 2?

A: Ifastockholderisthebeneficialownerofsharesheldin"streetname"throughitsbank,brokerorothernominee,thebank,brokerorothernomineewilltypicallyhavetheauthoritytoexerciseitsvotingdiscretiontovoteonthisproposal.

General Questions

Q: How can stockholders cast their vote?

A: Stockholdersmayvoteinoneofthefollowingways:

• byusingthetoll-freenumbershownontheproxycard(orvotinginstructioncardifastockholderreceiveditsproxymaterialsfromabank,brokerorothernominee);

• byvisitingthewebsiteshownontheproxycard(orvotinginstructioncard)tosubmitaproxyviatheInternet;

• bycompleting,signing,datingandreturningtheenclosedproxycard(orvotinginstructioncard)intheenclosedpostage-paidenvelope;or

• byattendingtheannualmeetingandvotingtheirshares.

Q: If a stockholder is not going to attend the annual meeting, should that stockholder return its proxy card or otherwise vote itsshares?

A: Yes.Returningtheproxycard(orvotinginstructioncardifastockholderreceiveditsproxymaterialsfromabank,brokerorothernominee)orvotingbycallingthetoll-freenumbershownontheproxycard(orvotinginstructioncard)orvisitingthewebsiteshownontheproxycard(orvotinginstructioncard)tosubmitaproxyviatheInternetensuresthattheshareswillberepresentedandvotedattheannualmeeting,evenifthestockholderwillbeunableto,ordoesnot,attend.

Q: If a stockholder's shares are held in "street name" through its bank, broker or other nominee, will that bank, broker or othernominee vote those shares?

A: Banks,brokersorothernomineeswillnotvotesharesofastockholderwithrespecttoProposalNo.1unlessthestockholderinstructsitsbank,brokerorothernomineehowtovote.Astockholdershouldfollowthedirectionsonthevotinginstructioncardprovidedbyitsbank,brokerorothernomineeregardinghowtoinstructitsbank,brokerorothernomineetovoteitsshares.Ifastockholderdoesnotprovideitsbank,brokerorothernomineewithinstructions,underNewYorkStockExchange("NYSE")rules,thatbank,brokerorothernomineewillnotbeauthorizedtovotewithrespecttoProposalNo.1,butmayvoteinitsdiscretionwithrespecttoProposalNo.2.

Q: Can a stockholder change or revoke its proxy after mailing its proxy card?

A: Yes.Ifastockholderhasproperlycompletedandsubmitteditsproxycard,thatstockholdercanchangeorrevokeitsproxyvoteinanyofthefollowingways:

• byfilingwithourCorporateSecretaryaninstrumentinwritingrevokingtheproxy;

• byfilingwithourCorporateSecretaryadulyexecutedproxybearingalaterdate;

• byloggingontothewebsitespecifiedontheproxycard(orvotinginstructioncardifastockholderreceiveditsproxymaterialsfromabank,brokerorothernominee)inthesamemannerastockholderwouldtosubmititsproxyelectronicallyorbycallingthetoll-freenumberspecifiedontheproxycard(orvotinginstructioncard)priortotheannual

meeting,ineachcaseifthestockholderiseligibletodoso,andfollowingtheinstructionsontheproxycard(orvotinginstructioncard);or

• byattendingtheannualmeetingandvotinginperson.

Simplyattendingtheannualmeetingwillnotrevokeaproxy.Intheeventofmultipleonlineortelephoneproxiessubmittedbyastockholder,eachproxywillsupersedeanyearlierdatedproxyandtheproxybearingthelatestdatewillbedeemedtobethefinalproxyofthatstockholderunlessthatproxyisrevoked.

Ifastockholderholdssharesin"streetname"throughitsbank,brokerorothernominee,andhasdirectedthatpersontovoteitsshares,itshouldinstructthatpersontochangeitsvote,orif,inthealternative,astockholderholdingsharesin"streetname"wishestovoteinpersonattheannualmeeting,thestockholdermustobtaina"legalproxy"fromthebank,brokerorothernomineeandpresentthe"legalproxy"attheannualmeeting.

Q: What should stockholders do now?

A: Aftercarefullyreadingandconsideringtheinformationcontainedinthisproxystatement,stockholdersshouldcompletetheirproxiesorvotinginstructioncardsassoonaspossiblesothattheirshareswillberepresentedandvotedattheannualmeeting.Stockholdersshouldfollowtheinstructionssetforthontheenclosedproxycard(orthevotinginstructioncardifastockholderreceiveditsproxymaterialsfromabank,brokerorothernominee).

Q: Who can answer my questions?

A: Ifyouhaveanyquestionsabouttheannualmeeting,needassistanceinvotingyoursharesorneedadditionalcopiesofthisproxystatementortheproxycard(orvotinginstructioncardifyoureceivedyourproxymaterialsfromabank,brokerorothernominee),youshouldcontact:

D.F.King&Co.,Inc.48WallStreet,22ndfloor

NewYork,NewYork10005(800)207-3158(TollFree)(212)269-5550(CallCollect)

TRIPointeGroup,Inc.19540JamboreeRoad,Suite300

Irvine,California92612Attention:InvestorRelationsTelephone:(949)478-8696

PROPOSAL NO. 1 ELECTION OF DIRECTORS

Allofourdirectorsareelectedannuallyattheannualmeetingofstockholders.StockholdersarerequestedtoelectthesixnomineesnamedinthisproxystatementtoserveonourBoardofDirectorsuntilhisorhersuccessoriselectedandqualifiedoruntilhisorherearlierresignation,removal,ordeath.

Thenamesofthesixnomineesfordirectorandtheircurrentpositionsandofficeswithusaresetforthbelow.Eachofthenomineesisnowadirector.Detailedbiographicalinformationregardingeachofthesenomineesisprovidedin"BoardofDirectors—DirectorNominees."TheNominatingandCorporateGovernanceCommitteeofourBoardofDirectorshasreviewedthequalificationsofeachofthenomineesandhasrecommendedtoourBoardofDirectorsthateachnomineebesubmittedtoavoteattheannualmeeting.

Allofthenomineesforelectionhaveconsentedtobeingnamedinthisproxystatementandtoserveifelected.Ifanynomineeisunableorunwillingtoserve,ourBoardofDirectorsmaydesignateasubstitutenomineeorreducethesizeofourBoardofDirectors.IfourBoardofDirectorsdesignatesasubstitutenominee,proxiesmaybevotedforthatsubstitutenominee.OurBoardofDirectorsknowsofnoreasonwhyanynomineewillbeunableorunwillingtoserveifelected.Listedbelowarethesixnomineesforelectionasadirectorattheannualmeeting.

Name Age PositionMr.StevenJ.Gilbert 70 ChairmanoftheBoardMr.DouglasF.Bauer 56 ChiefExecutiveOfficerandDirectorMr.LawrenceB.Burrows 65 IndependentDirectorMr.DanielS.Fulton 69 IndependentDirectorMs.ConstanceB.Moore 62 IndependentDirectorMr.ThomasB.Rogers 78 IndependentDirector

Required Vote

Eachnomineeforelectionasadirectorwillbeelectedifthenumberofvotescast"FOR "thenominee'selectionexceedsthenumberofvotescast"AGAINST "thenominee'selection.Abstentionsand"brokernon-votes"willnotbecountedasvotescastandwillnotaffecttheoutcomewithregardtothisproposal.Thereisnocumulativevotingintheelectionofdirectors.

Director Resignation Policy

Underourdirectorresignationpolicy,anyincumbentdirectorwhoisnotre-electedmustpromptlytenderawrittenofferofresignationasadirector.TheNominatingandCorporateGovernanceCommitteewillconsidertheresignationofferandrecommendtotheBoardofDirectorswhethertoacceptorrejecttheresignationoffer,orwhetherotheractionshouldbetaken.IndeterminingwhethertorecommendthattheBoardofDirectorsacceptanyresignationoffer,theNominatingandCorporateGovernanceCommitteewillbeentitledtoconsiderallfactorsbelievedrelevantbytheNominatingandCorporateGovernanceCommittee'smembers,including,butnotlimitedto:(i)anystatedorperceivedreasonsforthedirectornotreceivingamajorityvote,(ii)anyalternativesforcuringtheunderlyingcauseofthevotesagainst,(iii)thedirector'stenure,(iv)thedirector'squalifications,(v)thedirector'spastandexpectedfuturecontributionstotheBoardofDirectors,and(vi)theoverallcompositionoftheBoardof

Directors,includingwhetheracceptingtheresignationwouldcauseustofailtomeetanyapplicableSECorNYSErequirementsorviolateanyofourmaterialagreements.

Indeterminingwhatactiontorecommendortakeregardingadirector'sresignation,eachoftheNominatingandCorporateGovernanceCommitteeandtheBoardofDirectorsmayconsiderarangeofalternativesasitdeemsappropriate,including,butnotlimitedto:(i)acceptingtheresignationoffer,(ii)rejectingtheresignationoffer,(iii)rejectingtheresignationoffertoallowthedirectortoremainontheBoardofDirectorsbutagreeingthatthedirectorwillnotbenominatedforre-electiontotheBoardofDirectorsatthenextelectionofdirectors,(iv)deferringacceptanceoftheresignationofferuntiltheBoardofDirectorscanfindareplacementdirectorwiththenecessaryqualificationstofillthevacancythatacceptingtheresignationofferwouldcreate,or(v)deferringacceptanceoftheresignationofferifthedirectorcancuretheunderlyingcausefornotreceivingamajorityvotewithinaspecifiedperiodoftime.

TheBoardofDirectorswillactontheNominatingandCorporateGovernanceCommittee'srecommendationwithin90daysfollowingthecertificationofthestockholdervote.Indecidingwhethertoaccepttheresignationoffer,theBoardofDirectorswillconsiderthefactorsconsideredbytheNominatingandCorporateGovernanceCommitteeandanyadditionalinformationandfactorstheBoardofDirectorsbelievestoberelevant.IftheBoardofDirectorsacceptsadirector'sresignationofferpursuanttothisprocess,theNominatingandCorporateGovernanceCommitteewillrecommendtotheBoardofDirectorsandtheBoardofDirectorswillthereafterdeterminewhethertofillsuchvacancyorreducethesizeoftheBoardofDirectors.AnydirectorwhotendershisorherresignationpursuanttothisprovisionwillnotparticipateintheproceedingsofeithertheNominatingandCorporateGovernanceCommitteeortheBoardofDirectorswithrespecttohisorherownresignationoffer.IfotherdirectorswhoaremembersoftheNominatingandCorporateGovernanceCommitteedidnotreceiveamajorityvoteinthesameuncontestedelectionofdirectors,sothataquorumoftheNominatingandCorporateGovernanceCommitteecannotbeachieved,thentheotherindependentdirectorsontheBoardofDirectorswhoreceivedamajorityofvotescastinthatelectionwillconsidersuchresignationofferandrecommendtotheBoardofDirectorswhethertoacceptorrejecttheresignationoffer,orwhetherotheractionshouldbetaken,regardingtheresignationofeachdirectorwhodidnotreceiveamajorityvote.

Our Board of Directors recommends that stockholders vote "FOR" the election of each of the six nominees to our Board ofDirectors.

PROPOSAL NO. 2RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

TheAuditCommitteehasapprovedtheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforthefiscalyearendingDecember31,2018andhasfurtherrecommendedthatourBoardofDirectorssubmittheselectionofourindependentregisteredpublicaccountingfirmforratificationbystockholdersattheannualmeeting.Ernst&YoungLLPhasservedasourindependentregisteredpublicaccountingfirmsince2010.RepresentativesofErnst&YoungLLPareexpectedtobepresentattheannualmeeting.Theywillhaveanopportunitytomakeastatementiftheysodesireandwillbeavailabletorespondtoappropriatequestions.

NoneofourBylaws,ourCertificateofIncorporation,oranyothergoverningdocumentsorapplicablelawrequiresstockholderratificationoftheselectionofErnst&YoungLLPasourindependentregisteredpublicaccountingfirm.However,ourBoardofDirectorsissubmittingtheselectionofErnst&YoungLLPtostockholdersforratificationasamatterofgoodcorporatepractice.Ifthestockholdersfailtoratifytheselection,theAuditCommitteewillreconsiderwhetherornottoretainErnst&YoungLLP,butmay,nonetheless,retainErnst&YoungLLPasourindependentregisteredpublicaccountingfirm.Eveniftheselectionisratified,theAuditCommittee,initsdiscretion,maychangetheappointmentatanytimeifitdeterminesthatsuchachangewouldbeinthebestinterestofstockholders.ForinformationconcerningfeesbilledtousforthefiscalyearsendedDecember31,2016and2017,see"AuditCommitteeMatters—IndependentRegisteredPublicAccountingFirmFees."

Required Vote

Thisproposalmustbeapprovedbytheaffirmativevoteoftheholdersofstockhavingamajorityofthevotesthatcouldbecastbystockholdersentitledtovoteontheproposalthatarepresentinpersonorbyproxyattheannualmeeting.Abstentionswillbetreatedasbeingpresentandentitledtovote,andwillhavetheeffectofavoteagainst,withregardtothisproposal.Thisproposalisconsidered"routine,"thereforebanks,brokersorothernomineesmayexercisetheirvotingdiscretionintheabsenceofspecificinstructionswithregardtothisproposal.

Our Board of Directors recommends that stockholders vote "FOR" the ratification of the appointment of Ernst & YoungLLP as our independent registered public accounting firm for 2018.

BOARD OF DIRECTORS

Composition of our Board of Directors

OurCertificateofIncorporationprovidesthattheauthorizednumberofdirectorsshallnotbefewerthanthreeandshallbefixedfromtimetotimesolelybyresolutionadoptedbyaffirmativevoteofamajorityofdirectorstheninoffice.OurBoardofDirectorscurrentlyconsistsofsixdirectors.

PursuanttoouremploymentagreementwithMr.Bauer,wehaveagreedthatwhileheisemployedunderthatagreement,wewillnominatehimforre-electionasamemberofourBoardofDirectors.See"ExecutiveCompensation—EmploymentAgreementsandPerformance-BasedRSUAwards."

Director Nominees

ThenomineesforelectiontoourBoardofDirectors,togetherwithbiographicalinformationfurnishedbyeachofthemandinformationregardingeachnominee'squalifications,aresetforthbelow.Therearenofamilyrelationshipsamongourexecutiveofficersanddirectors.

DOUGLASF.BAUER,56,hasservedasourChiefExecutiveOfficerandasamemberofourBoardofDirectorssinceJanuary30,2013.HewasamemberofTRIPointeHomes,LLC's("TPHLLC")boardofmanagerspriortoitsconversionintoacorporation.PriortoformingTPHLLCinApril2009,from1989to2009,Mr.Bauerservedinseveralcapacities,includingmostrecentlythePresidentandChiefOperatingOfficer,forWilliamLyonHomes,ahomebuildingcompanywhosecommonstockwaslistedontheNYSEfrom1999untilthecompanywastakenprivatein2006.HispriortitlesatWilliamLyonHomesalsoincludedChiefFinancialOfficerand,priorthereto,PresidentofitsNorthernCaliforniaDivision.Priortohis20-yeartenureatWilliamLyonHomes,Mr.BauerspentsevenyearsatSecurityPacificNationalBankinLosAngeles,Californiainvariousfinancialpositions.Mr.Bauerhasmorethan30yearsofexperienceintherealestatefinance,developmentandhomebuildingindustry.Mr.BauerhasbeeninvolvedinbothlegislativeeffortsandcommunityenhancementprogramsthroughhisinvolvementintheCaliforniaBuildingIndustryAssociationandHomeAidOrangeCounty,acharitableorganizationwiththemissionofbuildingorrenovatingsheltersforthetemporarilyhomeless,whichservesindividualsandfamilieswhofindthemselveswithoutshelterduetosuchfactorsasdomesticviolence,jobloss,catastrophicillnessandcrisispregnancy.Mr.BauerreceivedhisB.A.fromtheUniversityofOregonandlaterreceivedhisM.B.A.fromtheUniversityofSouthernCalifornia.AsourChiefExecutiveOfficer,Mr.Bauerhasintimateknowledgeofourbusinessandoperations,andheprovidesourBoardofDirectorswithextensiveexperienceinrealestatefinance,operationsanddevelopment,aswellasafamiliaritywiththeworkingsofthehomebuildingindustry.

LAWRENCEB.BURROWS,65,hasservedasamemberofourBoardofDirectorssinceJuly7,2014.Mr.BurrowsservedasanexecutiveofficeroftheWeyerhaeuserCompanyfrom2008through2013,whenheretiredafter25yearswiththecompany.HewasSeniorVicePresidentofWoodProductsforWeyerhaeuserCompanyfrom2010through2013.From2008to2010,Mr.BurrowswasPresidentandChiefExecutiveOfficerofWeyerhaeuserRealEstateCompany("WRECO").PriortobecomingWRECO'sPresidentandChiefExecutiveOfficer,heservedasPresidentofWinchesterHomes,aWRECOsubsidiary,from2003to2008.Currently,Mr.BurrowsservesontheBoardofConnorIndustries,aprivately-heldindustrialwoodandpackagingsolutionscompany.HealsoservesasChairoftheDean'sAdvisoryBoardoftheEdwardJ.BlousteinSchoolofPlanningandPublicPolicyatRutgersUniversitywhereheisalsoaSeniorPlanningFellow.Mr.BurrowsisalsoanofficerandTreasurerofthenon-profitChesapeakeMulti-CulturalResourceCenter.BeforejoiningWeyerhaeuserCompanyand

WRECO,Mr.Burrowswasarealestateconsultantanddeveloper.Mr.BurrowsservedontheBoardofHabitatforHumanity,Seattle/KingCounty,andHomeAidofNorthernVirginia.Mr.BurrowsearnedaB.A.fromRutgersUniversity,aMastersinCityPlanningfromtheUniversityofPennsylvania,andisagraduateoftheWhartonSchoolofBusinessAdvancedManagementProgram.HeistheauthorofGrowthManagement:Issues,TechniquesandPolicyImplications,publishedbytheCenterforUrbanPolicyResearchatRutgersUniversity.OurBoardofDirectorsbelievesthatMr.Burrows'experienceinrealestatedevelopmentandhomebuildingisatremendousbenefittoourBoardofDirectors.

DANIELS.FULTON,69,hasservedasamemberofourBoardofDirectorssinceJuly7,2014.Mr.FultonservedasPresident,ChiefExecutiveOfficerandamemberoftheboardofdirectorsofWeyerhaeuserCompanyfrom2008through2013,whenheretiredafternearly38yearswiththecompany.PriortobecomingWeyerhaeuserCompany'sChiefExecutiveOfficer,Mr.FultonservedasthePresidentandChiefExecutiveOfficerofWRECOfrom2001to2008.DuringMr.Fulton'stenureasWeyerhaeuserCompany'sChiefExecutiveOfficer,hewasamemberoftheBusinessRoundtable(BRT),whereheservedasthechairoftheBRTHousingSubcommittee,andservedontheboardsofanumberofindustryassociations,includingNAFO(theNationalAllianceofForestOwners),NAREIT(NationalAssociationofRealEstateInvestmentTrusts),SFI(SustainableForestInitiative)andtheAF&PA(AmericanForestandPaperAssociation).Mr.FultonisthepastchairoftheWashingtonRoundtable,wherehecontinuesasamember,andisthepastchairofthePolicyAdvisoryBoardoftheJointCenterforHousingStudiesatHarvardUniversity,wherehecontinuestoserveasanExecutiveFellow.Mr.FultonisadirectorofSaltchukResources,aprivately-ownedcompanyprimarilyengagedintransportationanddistribution,andamemberoftheAdvisoryBoardfortheFosterSchoolofBusinessattheUniversityofWashington.HeisalsoadirectorofGreenDiamondResourceCompany,aprivately-held,Seattle-basedtimbercompany.Mr.FultongraduatedwithaB.A.ineconomicsfromMiamiUniversity(Ohio)in1970.HereceivedanM.B.A.infinancefromtheUniversityofWashingtonin1976,andhecompletedtheStanfordUniversityExecutiveProgramin2001.From1970to1974,heservedonactivedutyasanofficerintheU.S.NavySupplyCorps.OurBoardofDirectorsbelievesthatMr.Fulton'sextensiveexperienceinrealestatefinanceanddevelopment,alongwithhisexecutiveandleadershipexperience,makeshimavaluablecontributortoourBoardofDirectors.

STEVENJ.GILBERT,70,hasservedasadirectoronourBoardofDirectorssinceJanuary30,2013.Mr.GilbertisChairmanoftheBoardofGilbertGlobalEquityPartners,L.P.,abilliondollarprivateequityfund,andhasservedinthiscapacitysince1998.HeisalsoadirectorofFairholmeFunds(Nasdaq:FAIRX),anopen-endinvestmentcompany;SeniorAdvisortoContinentalGrain;adirectorofMBIA,Inc.,(NYSE:MBI)andOaktreeCapitalGroup(NYSE:OAK);andistheLeadIndependentDirectoroftheEmpireStateRealtyTrust(NYSE:ESRT).HeisViceChairmanofMidOceanEquityPartners,LP,andservedastheViceChairmanofStoneTowerCapitalfromJanuary2007untilApril2012andastheSeniorManagingDirectorandChairmanofSunGroup(USA)until2009.From1992to1997hewasaFounderandManagingGeneralPartnerofSorosCapitalL.P.,theprincipalventurecapitalandleveragedtransactionentityoftheQuantumGroupofFunds,andaprincipalAdvisortoQuantumIndustrialHoldingsLtd.From1988to1992,hewastheManagingDirectorofCommonwealthCapitalPartners,L.P.,aprivateequityinvestmentfirm.Priortothat,from1984to1988,Mr.GilbertwastheManagingGeneralPartnerofChemicalVenturePartners(nowJ.P.MorganCapitalPartners),whichhefounded.Mr.GilbertwasadmittedtotheMassachusettsBarin1970andpracticedlawatGoodwinProcter&HoarinBoston,Massachusetts.HewasanassociateincorporatefinanceatMorganStanley&Co.from1972to1976,aVicePresidentatWertheim&Co.,Inc.from1976to1978andaManagingDirectoratE.F.HuttonInternationalfrom1978to1980.Mr.GilbertwasrecentlyChairmanoftheBoardofDuraAutomotiveSystems,Inc.,ChairmanofCPMHoldings,TrueTemperSportsandaDirectorofJ.O.HambroCapitalManagementGroupandtheAsianInfrastructureFund.Previously,Mr.GilberthasbeenaDirectorofnumerouscompanies,includingMontpelierRe,OlympusTrust,OfficeDepot,Inc.,

Funk&Wagnalls,Inc.,ParkerPenLimited,PigglyWigglySouthern,Inc.,CoastCommunityNews,Inc.,GTS-Duratek,MagnavoxElectronicSystemsCompany,UroMedCorporation,StarCityCasinoHoldings,Ltd.,KatzMediaCorporation,AirportGroupInternational,BataviaInvestmentManagement,Ltd.,AffinityFinancialGroup,Inc.,ESATTelecom,Ltd.,ColepHolding,Ltd.,NFOWorldwide,TerraNova(Bermuda)Holdings,LimitedandVeritas-DCG.Hewastheprincipalowner,ChairmanandChiefExecutiveOfficerofLion'sGateFilmsfrom1980to1984.Mr.GilbertisamemberoftheCouncilonForeignRelationsandtheGlobalAgendaCouncilonCapitalFlowsoftheWorldEconomicForumandamemberoftheBoardofGovernorsoftheLauderInstitute.Mr.GilbertreceivedhisB.A.fromtheWhartonSchoolattheUniversityofPennsylvania,hisJ.D.fromtheHarvardLawSchoolandhisM.B.A.fromtheHarvardGraduateSchoolofBusiness.Mr.GilbertprovidesourBoardofDirectorswithvastinvestmentmanagementandleadershipexperience,andhispriorandcurrentserviceasadirectorofnumerouspublicly-heldcompaniesallowshimtomakevaluablecontributionstoourBoardofDirectors.

CONSTANCEB.MOORE,62,hasservedasamemberofourBoardofDirectorssinceJuly7,2014.ShehasservedasadirectorofCiveoCorporation(NYSE:CVEO)sinceJune2014.ShehasservedasadirectorofColumbiaPropertyTrust(NYSE:CXP)sinceNovember2017.Ms.MooreservedasaDirectorofBREProperties,Inc.(NYSE:BRE)fromSeptember2002untilBREwasacquiredinApril2014.Ms.MooreservedasPresidentandChiefExecutiveOfficerofBREfromJanuary2005untilApril2014,servedasPresidentandChiefOperatingOfficerfromJanuary2004untilDecember2004andservedasExecutiveVicePresident&ChiefOperatingOfficerfromSeptember2002toDecember2003.Ms.Moorehasmorethan40yearsofexperienceintherealestateindustry.PriortojoiningBREin2002,shewasamanagingdirectorofSecurityCapitalGroup&Affiliates.From1993to2002,Ms.MooreheldseveralexecutivepositionswithSecurityCapitalGroup,includingco-chairmanandchiefoperatingofficerofArchstoneCommunitiesTrust.Ms.MooreholdsanM.B.A.fromtheUniversityofCalifornia,Berkeley,HaasSchoolofBusinessandabachelor'sdegreefromSanJoseStateUniversity.In2009,sheservedaschairoftheNAREIT.Currently,sheisthechairoftheFisherCenterforRealEstateandUrbanEconomicsPolicyAdvisoryBoardatUCBerkeley,aGovernorandaTrusteeoftheUrbanLandInstituteandservesontheBoardoftheUrbanLandInstituteFoundationandtheUrbanLandGlobalBoardofDirectors,servesontheboardofBridgeHousingCorporation,servesontheboardoftheHaasSchoolofBusinessatUCBerkeley,andservesontheboardoftheTowerFoundationatSanJoseStateUniversity.OurBoardofDirectorsbelievesthatMs.Mooreprovidesitwithsignificantleadershipandrealestatemanagementexperience.

THOMASB.ROGERS,78,hasservedasadirectorofourBoardofDirectorssinceJanuary30,2013.UntilhisretirementinJanuary2009,Mr.RogersservedasExecutiveVicePresidentinchargeofCityNationalBank'sSouthernRegion.Inthatposition,heoversawthedeliveryofcommercialbanking,privateclientandwealthmanagementservicestoclientsthroughoutOrangeCounty,thegreaterSanDiegoareaandtheInlandEmpire.BeforejoiningCityNationalBankin2000,Mr.RogersservedforeightyearsasSeniorVicePresidentandTreasurerofTheIrvineCompany.Priortothat,Mr.Rogersspentmorethan25yearswithtwomajorfinancialinstitutions.Specifically,heservedasExecutiveVicePresidentandDivisionAdministratorofSecurityPacificNationalBank'sRealEstateIndustriesGroup,SouthernDivision,andpriortothatwasSeniorVicePresidentandChiefCreditOfficerforSecurityPacific'sCaliforniaCorporateGroup.Hispreviousbankingcareeralsoincluded15yearswiththeNationalBankofDetroitincorporatelendingassignments.Inhisretirement,Mr.RogersservedasChairmanoftheBoardofDirectorsofPlazaBancorpandPlazaBank,untilitssaleonNovember1,2017.HeservesontheBoardofDirectorsofMemorialHealthServices,anotforprofit,fivehospital,integratedhealthcareorganizationheadquarteredinFountainValley,California.Mr.RogersreceivedhisB.A.inBusinessAdministrationfromEasternMichiganUniversity,attendedgraduateschoolatWayneStateUniversityinDetroit,andcompletedthecurriculumoftheGraduateSchoolofBankingattheUniversityofWisconsininMadisonandtheNationalCommercialLendingSchoolattheUniversityofOklahoma.

Mr.RogersprovidesourBoardofDirectorswithawealthoffinancialmanagementknowledge,andhisextensiveexecutiveandleadershipexperiencemakeshimavaluablecontributortoourBoardofDirectors.

Qualifications and Characteristics for Directors

OurBoardofDirectorsbelievesthattheBoard,asawhole,shouldpossessacombinationofskills,professionalexperienceanddiversityofbackgroundsnecessarytooverseeourbusiness.Inaddition,ourBoardofDirectorsbelievestherearecertainattributeseverydirectorshouldpossess,includinghighpersonalandprofessionalethicalstandards,practicalwisdom,maturejudgmentandintegrity.OurBoardofDirectorsseeksout,andourBoardofDirectorsiscomprisedof,individualswhosebackgroundandexperiencecomplementthoseofourotherdirectors.Accordingly,ourBoardofDirectorsandtheNominatingandCorporateGovernanceCommitteeconsiderthequalificationsofdirectorsanddirectorcandidatesindividuallyandinthebroadercontextofourBoardofDirectors'overallcompositionandourcurrentandfutureneeds.OurBoardofDirectorsbelievesthateachdirectornomineepossessesthequalitiesandexperiencethatourBoardofDirectorsandtheNominatingandGovernanceCommitteebelieveareimportant,asdescribedinfurtherdetailbelowinthesectionentitled"CorporateGovernance—CommitteesofourBoardofDirectors—NominatingandCorporateGovernanceCommittee."

IndeterminingtonominateMessrs.BurrowsandFulton,ourBoardofDirectorsconsideredtheirpriorserviceasexecutiveofficersofWRECO,withwhichwecompletedamergertransactioninJuly2014,andWRECO'sformerparent,WeyerhaeuserCompany,alargepubliclytradedcompanythatisnotaffiliatedwithTRIPointe.Messrs.BurrowsandFultonceasedservingasexecutiveofficersofWRECOmorethanfiveyearsagoin2010and2008,respectively,andceasedservingasexecutiveofficersofWeyerhaeuserCompanyin2013,theyearbeforetheywereappointedtoourBoardofDirectors.Moreover,followingtheWRECOmergertransaction,theseniormanagementofTRIPointeremainedinplaceandWRECO'sprincipalexecutiveandfinancialofficersdepartedandwerereplacedbyexecutiveofficersofTRIPointe.TheseniorleadersofWRECO'shomebuildingsubsidiariesnowreporttoTRIPointe'sseniorexecutiveteam.Thus,indeterminingtonominateMessrs.BurrowsandFulton,ourBoardofDirectorsconcludedthatMessrs.BurrowsandFultonhadnosubstantialconnectionstoWRECO'smanagementthatwouldimpacttheirabilitytoexerciseindependentjudgment.OurBoardofDirectorsalsoconcludedthattheirextensiverealestateindustryexperience,whichincludesexperienceinhomebuilding,realestatefinanceanddevelopment,makeMessrs.BurrowsandFultonvaluablecontributorstoourBoardofDirectors.

CORPORATE GOVERNANCE

Corporate Governance Highlights

ü SeparateindependentChairmanofourBoardofDirectorsandChiefExecutiveOfficer("CEO") ü AlldirectorsareindependentunderNYSEstandards,exceptCEO

ü Audit,CompensationandNominatingandCorporateGovernanceCommitteesareeachcomprisedsolelyofindependentdirectors

ü Annualelectionofdirectors

ü Majorityvotinginuncontesteddirectorelections

ü Directorresignationpolicyrequiringincumbentdirectorswhoarenotre-electedtotenderpromptlyawrittenofferofresignation

ü Stockownershipguidelinesforourdirectorsandexecutiveofficers

ü Policyforrecoupmentofexecutiveofficerincentivebasedcompensationintheeventofcertainrestatementsofourfinancialresults

ü Regularexecutivesessionsofindependentdirectors

Director Independence

OurBoardofDirectorshasdeterminedthatfiveofitsdirectors,Ms.MooreandMessrs.Burrows,Fulton,Gilbert,andRogers,constitutingamajorityofdirectors,satisfythelistingstandardsforindependenceoftheNYSE.

Thenon-managementdirectorsmeetregularlyinexecutivesessionsoutsidethepresenceofmanagement,andMr.Gilbert,asChairmanofourBoardofDirectors,currentlypresidesatallexecutivesessionsofthenon-managementdirectors.

Leadership Structure of our Board of Directors

OurCorporateGovernanceGuidelinesprovidethatourBoardofDirectorsisfreetoselectaChairmaninthemanneritconsiderstobeinourbestinterestandthattherolesofChairmanofourBoardofDirectorsandChiefExecutiveOfficermaybefilledbyasingleindividualortwodifferentpersons.In2014,ourBoardofDirectorsamendedourBylawstoprovidethatthepositionofChairmanofourBoardofDirectorsisnotanofficerposition.ThisprovidesourBoardofDirectorswithflexibilitytodecidewhatleadershipstructureisinourbestinterestsatanypointintime.Currently,twodifferentpersonsserveintheseroles:Mr.GilbertservesasChairmanofourBoardofDirectorsandMr.BauerservesasChiefExecutiveOfficer.Atthistime,ourBoardofDirectorshasdeterminedthathavingMr.GilbertserveasChairmanofourBoardofDirectorsandMr.BauerserveasChiefExecutiveOfficerisinourbestinterest,asitallowsMr.GilberttofocusontheeffectivenessofourBoardofDirectorsandoversightofourseniormanagementteamwhileMr.Bauerfocusesonexecutingourstrategyandmanagingourbusiness.Inthefuture,however,ourBoardofDirectorsmaydeterminethatitisinourbestinteresttohaveasingleindividualserveasbothChairmanofourBoardofDirectorsandChiefExecutiveOfficer.

Role of our Board of Directors in Risk Oversight

OneofthekeyfunctionsofourBoardofDirectorsisinformedoversightoftheriskmanagementprocess.OurBoardofDirectorsadministersthisoversightfunctiondirectly,withsupportfromthreeofitsstandingcommittees—theAuditCommittee,theCompensationCommitteeandtheNominatingandCorporateGovernanceCommittee,eachofwhichaddressesrisksspecifictoitsrespectiveareasofoversight.ThefullBoardofDirectorsmonitorsrisksthroughregularreportsfromeachofthecommitteechairs,andisapprisedofparticularriskmanagementmattersinconnectionwithitsgeneraloversightandapprovalofcorporatematters.Inconnectionwithitsreviewsofouroperationsandcorporatefunctions,ourBoardofDirectorsaddressestheprimaryrisksassociatedwiththoseoperationsandcorporatefunctions.Inaddition,ourBoardofDirectorsreviewstherisksassociatedwithourbusinessstrategiesperiodicallythroughouttheyearaspartofitsconsiderationofundertakinganysuchbusinessstrategies.

Inconnectionwithitsriskmanagementrole,theAuditCommitteeconsidersanddiscusseswithmanagementourmajorfinancialriskexposuresandthestepsmanagementtakestomonitorandcontroltheseexposures.TheAuditCommitteeoverseesthepoliciesandprocessesrelatingtofinancialstatements,financialreportingprocesses,complianceandauditing,aswellastheguidelines,policiesandprocessesformonitoringandmitigatingrelatedrisks.TheAuditCommitteealsomonitorscompliancewithlegalandregulatoryrequirements,inadditiontooversightoftheperformanceofourinternalauditfunction.TheCompensationCommitteeassessesandmonitorswhetheranyofourcompensationpoliciesandprogramshavethepotentialtoencourageexcessiverisk-takingandreviewsanddiscusses,atleastannually,therelationshipbetweenriskmanagementpoliciesandpractices,businessstrategyandourcompensationpoliciesandprograms.Basedonthisoversightapproach,wedonotbelievethatourpresentemployeecompensationpoliciesandprogramsarelikelytohaveamaterialadverseeffectonus.TheNominatingandCorporateGovernanceCommitteeprovidesoversightwithrespecttocorporategovernanceandethicalconductandmonitorstheeffectivenessofourCorporateGovernanceGuidelines,includingwhethersuchguidelinesaresuccessfulinpreventingillegalorimproperliability-creatingconduct.Inperformingtheirrespectivefunctions,eachcommitteehasfullaccesstomanagement,aswellastheabilitytoengageadvisors.

Itisneitherfeasiblenordesirabletoattempttomonitororeliminateallrisk.Accordingly,wenecessarilyface,andwillcontinuetoface,avarietyofrisksintheconductofourbusinessandtherecanbenoassurancethatourBoardofDirectorsandcommittees'oversightwillbeeffectiveinidentifyingandaddressingallmaterialrisks.TheforegoingdescriptionoftheroleofourBoardofDirectorsinriskoversightdoesnotexpressorimplyanyadditionalorspecialduties,thedutiesofdirectorsbeingonlythoseprescribedbyapplicablelaw,norisitarepresentationastotheexistenceornon-existenceoffactsrelatingtorisksassociatedwithourbusiness.

Meetings of our Board of Directors

OurBoardofDirectorsheldfivemeetingsduringfiscalyear2017.EachmemberofourBoardofDirectorsattended75%ormoreoftheaggregatenumberofmeetingsofourBoardofDirectors,andofthecommitteesonwhichheorshewasserving,heldduringfiscalyear2017.InaccordancewithourCorporateGovernanceGuidelines,weinviteandgenerallyexpectourdirectorstoattendtheannualmeeting.AllofthemembersofourBoardofDirectorsattendedthe2017annualmeetingofstockholders.

Committees of our Board of Directors

OurBylawspermitourBoardofDirectorstodesignateoneormorecommittees,including(i)anAuditCommittee,(ii)aCompensationCommitteeand(iii)aNominatingandCorporateGovernanceCommittee.Thecurrentmembersofeachofthesecommitteesaresetforthinthefollowingtable:

Name Audit Compensation Nominating and

Corporate GovernanceLawrenceB.Burrows XDanielS.Fulton X X StevenJ.Gilbert X X*ConstanceB.Moore X X* ThomasB.Rogers X* X__________*CommitteeChair

TheAudit,Compensation,andNominatingandCorporateGovernancecommitteeseachhaveawrittencharterthatisavailableonourwebsiteatwww.tripointegroup.comintheCorporateGovernance—GovernanceDocumentssectionoftheInvestorswebpage.WealsohaveanExecutiveLandCommittee,comprisedofMessrs.Burrows,FultonandGilbert,whichreviewsandapproveslandacquisitionsordispositionswithapurchasepricegreaterthan$30millionbutlessthan$75million.

Audit Committee . TheAuditCommitteeofourBoardofDirectors,pursuanttoitswrittencharter,oversees,amongothermatters:

• ourfinancialreporting,auditingandinternalcontrolactivities;

• theintegrityandauditsofourfinancialstatements;

• ourcompliancewithlegalandregulatoryrequirements;

• thequalificationsandindependenceofourindependentauditors;

• theperformanceofourinternalauditfunctionandindependentauditors;and

• ouroverallriskexposureandmanagement.

DutiesoftheAuditCommitteealsoincludethefollowing:

• annuallyreviewingandassessingtheadequacyoftheAuditCommitteecharterandtheperformanceoftheAuditCommittee;

• beingresponsiblefortheappointment,retentionandterminationofourindependentauditorsanddeterminingthecompensationofourindependentauditors;

• reviewingwiththeindependentauditorstheplansandresultsoftheauditengagement;

• evaluatingthequalifications,performanceandindependenceofourindependentauditors;

• havingsoleauthoritytoapproveinadvanceallauditandnon-auditservicesbyourindependentauditors,thescopeandtermsthereof,andthefeestherefor;

• reviewingtheadequacyofourinternalaccountingcontrols;

• periodicallyreviewingwithmanagementourcybersecurityprogram;

• meetingatleastquarterlywithourseniormanagementteam,internalauditstaffandindependentauditorsinseparateexecutivesessions;and

• preparingtheAuditCommitteereportrequiredbySECregulationstobeincludedinourannualproxystatement.

TheAuditCommitteeiscurrentlycomprisedofthreedirectors,Messrs.RogersandFultonandMs.Moore,eachofwhomisanon-employeeandsatisfiestheindependencerequirementsundertheapplicablelistingstandardsoftheNYSEandtheapplicablerulesoftheSEC,andotherwisesatisfiestheapplicablerequirementsforauditcommitteeserviceimposedbytheExchangeAct,theNYSE,aswellasanyotherapplicablelegalorregulatoryrequirements.OurBoardofDirectors,initsbusinessjudgment,hasdeterminedthateachofthesemembersis"financiallyliterate"undertherulesoftheNYSE.Mr.RogersservesastheChairpersonoftheAuditCommittee.OurBoardofDirectorshasdesignatedMr.RogersastheAuditCommittee"financialexpert,"asthattermisdefinedbytheSEC.TheAuditCommitteemetfivetimesduringfiscalyear2017.

Compensation Committee . TheCompensationCommitteeofourBoardofDirectors,pursuanttoitswrittencharter,hasthefollowingresponsibilities,amongothers:

• assistsourBoardofDirectorsindevelopingandevaluatingpotentialcandidatesforexecutiveofficerpositionsandoverseeingthedevelopmentofexecutivesuccessionplans;

• administers,reviewsandmakesrecommendationstoourBoardofDirectorsregardingourcompensationplans;

• annuallyreviewsandapprovesourcorporategoalsandobjectiveswithrespecttocompensationforexecutiveofficersand,atleastannually,evaluateseachexecutiveofficer'sperformanceinlightofsuchgoalsandobjectivestoseteachexecutiveofficer'sannualcompensation,includingsalary,bonusandequityandnon-equityincentivecompensation,subjecttoapprovalbyourBoardofDirectors;

• providesoversightofmanagement'sdecisionsregardingtheperformance,evaluationandcompensationofotherofficers;

• reviewsourincentivecompensationarrangementstoconfirmthatincentivepaydoesnotencourageunnecessaryrisk-takingandreviewsanddiscusses,atleastannually,therelationshipbetweenriskmanagementpoliciesandpractices,businessstrategyandourexecutiveofficers'compensation;

• assistsmanagementincomplyingwithourproxystatementandannualreportdisclosurerequirements;

• discusseswithmanagementthecompensationdiscussionandanalysisrequiredbySECregulations;and

• preparesareportonexecutivecompensationtobeincludedinourannualproxystatement.

TheCompensationCommitteemayform,anddelegateauthorityto,subcommitteeswhenitdeemsappropriatetotheextentpermittedunderapplicablelaw.Inaddition,theCompensationCommitteemaydelegatesomeorallofitsauthorityunderour2013Long-TermIncentivePlan(the"2013LTIP")toourBoardofDirectorsor,subjecttoapplicablelaw,toourChiefExecutiveOfficerorsuchotherexecutiveofficerastheCompensationCommitteedeemsappropriate;provided,thatthe

CompensationCommitteemaynotdelegateitsauthorityunderthe2013LTIPtoourChiefExecutiveOfficeroranyotherofficerwithregardtotheselectionforparticipationinthe2013LTIPofanexecutiveofficer,directororotherpersonsubjecttoSection16oftheExchangeActordecisionsconcerningthetiming,priceoramountofanawardtosuchanofficer,directororotherperson.

TheCompensationCommitteeiscurrentlycomprisedofthreedirectors,Ms.MooreandMessrs.FultonandGilbert,eachofwhomisanon-employeeand(i)satisfiestheindependencerequirementsundertheapplicablelistingstandardsoftheNYSEandtheapplicablerulesoftheSEC,(ii)otherwisesatisfiestheapplicablerequirementsforcompensationcommitteeserviceimposedbytheExchangeActandtheNYSE,(iii)meetstherequirementsfora"non-employeedirector"containedinRule16b‑3undertheExchangeAct,and(iv)meetstherequirementsforan"outsidedirector"forthepurposesofSection162(m)oftheInternalRevenueCode(beforeenactmentoftheTaxCutsandJobsAct),aswellasanyotherapplicablelegalorregulatoryrequirements.

OurChiefExecutiveOfficer,PresidentandChiefFinancialOfficerdonotparticipateintheCompensationCommittee'sdeliberationsconcerningtheirowncompensationorthecompensationofdirectors.However,theymeetwiththeCompensationCommitteeandprovideinputregardingtheamountandformofthecompensationofourexecutiveofficersandkeyemployees.NootherexecutiveofficersparticipateintheCompensationCommittee'sdeliberationsoftheamountorformofthecompensationofexecutiveofficersordirectors.

TheCompensationCommitteehastheauthoritytoretainandterminateanycompensationconsultanttobeusedtoassistintheevaluationofexecutiveofficercompensation.TheCompensationCommitteehasengagedSemlerBrossyConsultingGroup,LLC("SemlerBrossy")asitsindependentcompensationconsultant.ThecompensationconsultantprovidestheCompensationCommitteewithdataaboutthecompensationpaidbyapeergroupofcompaniesandothercompaniesthatmaycompetewithusforexecutivesanddevelopsrecommendationsforstructuringourcompensationprograms.Thecompensationconsultantisretainedby,andreportsdirectlyto,theCompensationCommitteeanddoesnotprovideanyservicesdirectlytousorourmanagement.TheCompensationCommitteemetfourtimesduringthefiscalyear2017.

Compensation Committee Interlocks and Insider Participation. NomemberoftheCompensationCommitteeis,orhasbeenatanytime,ourofficeroremployee,norhasanymemberhadanyrelationshipwithusrequiringdisclosureunderItem404ofRegulationS-K.Noneofourexecutiveofficerscurrentlyserves,orinthepastyearhasserved,asamemberoftheboardofdirectorsorcompensationcommitteeofanyentitythathasoneormoreexecutiveofficersservingonourBoardofDirectorsorCompensationCommittee.

Nominating and Corporate Governance Committee. TheNominatingandCorporateGovernanceCommitteeofourBoardofDirectors,pursuanttoitswrittencharter,hasthefollowingresponsibilities,amongothers:

• identifiesindividualsqualifiedtobecomemembersofourBoardofDirectorsandensuresthatourBoardofDirectorshastherequisiteexpertiseanditsmembershipconsistsofpersonswithsufficientlydiverseandindependentbackgrounds;

• develops,andrecommendstoourBoardofDirectorsforitsapproval,qualificationsfordirectorcandidatesandperiodicallyreviewsthesequalificationswithourBoardofDirectors;

• reviewsthecommitteestructureofourBoardofDirectorsandrecommendsdirectorstoserveasmembersorchairsofeachcommitteeofourBoardofDirectors;

• reviewsandrecommendscommitteeslatesannuallyandrecommendsadditionalcommitteememberstofillvacanciesasneeded;

• developsandrecommendstoourBoardofDirectorsasetofcorporategovernanceguidelinesapplicabletousand,atleastannually,reviewssuchguidelinesandrecommendschangestoourBoardofDirectorsforapprovalasnecessary;and

• overseestheannualself-evaluationsofourBoardofDirectorsandmanagement.

TheNominatingandCorporateGovernanceCommitteeiscurrentlycomprisedofthreedirectors,Messrs.Gilbert,BurrowsandRogers,eachofwhomisanon-employeeandsatisfiestheindependence-relatedrequirementsoftheNYSEaswellasanyotherapplicablelegalorregulatoryrequirements.TheNominatingandCorporateGovernanceCommitteemetthreetimesduringfiscalyear2017.

InevaluatingcandidatesfornominationtoourBoardofDirectors,theNominatingandCorporateGovernanceCommitteetakesintoaccounttheapplicablerequirementsfordirectorsundertheExchangeActandthelistingstandardsoftheNYSE.TheNominatingandCorporateGovernanceCommitteemaytakeintoconsiderationsuchotherfactorsandcriteriathatitdeemsappropriateinevaluatingacandidate,includingthecandidate'sjudgment,skill,integrity,diversity,businessorotherexperience,timeavailabilityinlightofothercommitmentsandconflictsofinterest.TheNominatingandCorporateGovernanceCommitteemay(butisnotrequiredto)considercandidatessuggestedbymanagementorothermembersofourBoardofDirectors.AlthoughtheNominatingandCorporateGovernanceCommitteedoesnothaveaformalpolicyondiversitywithregardtoitsconsiderationofdirectornominees,itconsidersdiversityinitsselectionprocessandseekstonominatecandidatesthathaveadiverserangeofviews,backgrounds,leadershipandbusinessexperience.

Policy Regarding Stockholder Recommendations

Weidentifynewdirectorcandidatesthroughavarietyofsources.AlthoughtheNominatingandCorporateGovernanceCommitteedoesnothaveaformalpolicyregardingconsiderationofdirectorcandidatesrecommendedbystockholders,ourCorporateGovernanceGuidelinesprovidethat,whenformulatingitsdirectornominationrecommendations,theNominatingandCorporateGovernanceCommitteewillconsidercandidatesrecommendedbystockholdersandothers,asitdeemsappropriate.Inconsideringcandidatessubmittedbystockholders,theNominatingandCorporateGovernanceCommitteewilltakeintoconsiderationtheneedsofourBoardofDirectorsandthequalificationsofthecandidate.Stockholdersmayproposedirectornomineesbyadheringtotheadvancenoticeproceduresdescribedinthesectionentitled"StockholderProposalsfor2019AnnualMeeting"inthisproxystatement.TheNominatingandCorporateGovernanceCommitteemayalsoestablishprocedures,fromtimetotime,regardingsubmissionofcandidatesbystockholdersandothers.

Inconsideringdirectorcandidatesforelectionattheannualmeeting,theNominatingandCorporateGovernanceCommitteedidnotconsidernomineesotherthanthesixincumbentdirectorslistedinProposalNo.1ofthisproxystatement,asnonewcandidateswereproposedandthesixincumbentdirectorscontinuetoexhibitthequalificationsdescribedabove.

Code of Business Conduct and Ethics

OurBoardofDirectorshasadoptedtheTRIPointeGroup,Inc.CodeofBusinessConductandEthicsthatappliestoallofficers,directorsandemployees.Additionally,ourBoardofDirectorshasadoptedtheTRIPointeGroup,Inc.CodeofEthicsforSeniorExecutiveandFinancialOfficersthatappliestotheChiefExecutiveOfficer,ChiefFinancialOfficerandChiefAccountingOfficer(orpersonsperformingsimilarfunctionstotheaforementionedofficers).TheCodeofBusinessConductandEthicsalongwiththeCodeofEthicsforSeniorExecutiveandFinancialOfficersareavailableonourwebsiteatwww.tripointegroup.comintheCorporateGovernance—GovernanceDocumentssectionoftheInvestorswebpage.IfanysubstantiveamendmentstoeithertheCodeofBusinessConductandEthicsortheCodeofEthicsforSeniorExecutiveandFinancialOfficersaremade,oranywaiverfromaprovisionofeitherCodeisgrantedtoanyexecutiveofficerordirector,wewillpromptlydisclosethenatureoftheamendmentorwaiveronourwebsite.Wehaveadoptedthesecodesasguidesforfutureconductandtheyshouldnotbeconsideredtoconstituterepresentationsastopastcompliance.

Corporate Governance Guidelines

OurCorporateGovernanceGuidelinesareavailableonourwebsiteatwww.tripointegroup.comintheCorporateGovernance—GovernanceDocumentssectionoftheInvestorswebpage.

Stockholder Communications with our Board of Directors

OurstockholdersandotherinterestedpersonswhowanttocommunicatedirectlywithourBoardofDirectorsasagroup,theChairmanofourBoardofDirectors,thenon-managementdirectorsasagrouporanyindividualdirectormaydosobydeliveringsuchcommunicationincareofourCorporateSecretaryat:TRIPointeGroup,Inc.,PresidingDirectororNon-ManagementDirectorsc/oCorporateSecretary,19540JamboreeRoad,Suite300,Irvine,California92612.

Allcommunicationsmustbeaccompaniedbythefollowinginformation:

• ifthepersonsubmittingthecommunicationisastockholder,astatementofthenumberofsharesofourcommonstockthatthepersonholds;

• ifthepersonsubmittingthecommunicationisnotastockholder,thenatureoftheperson'sinterestinus;

• anyspecialinterest,meaninganinterestnotinthecapacityasastockholder,ofthepersoninthesubjectmatterofthecommunication;and

• theaddress,telephonenumberande-mailaddress,ifany,ofthepersonsubmittingthecommunication.

Communicationsreceivedinwritingareforwardedto(i)ourBoardofDirectors,(ii)thenon-managementdirectorsasagroupor(iii)anyindividualdirectortowhomthecommunicationisdirected.However,thefollowingcommunicationswillnotbeforwarded:anythreatening,incoherent,obscene,defamatoryorsimilarlyinappropriatecommunication;anycommunicationthatinvolvesanordinarybusinessmatter(suchasajobinquiry,abusinessaccountortransaction,arequestforinformationaboutus,formletters,spam,invitationsandotherformsofmassmailings);surveys;andanycommunicationthatdoesnotrelatetomattersrelevanttousorourbusiness,unlessrequestedbyadirectororatmanagement'sdiscretion.AteachmeetingofourBoardofDirectors,asummaryofallsuchcommunicationsreceivedsincethelastmeetingthatwerenotforwardedwillbepresentedandthosecommunicationsareavailabletodirectorsonrequest.

COMPENSATION DISCUSSION AND ANALYSIS

InthisCompensationDiscussionandAnalysis,wedescribeourcompensationpractices,programs,anddecisionsforournamedexecutiveofficers("NEOs"),whowereasfollowsfor2017:

• DouglasF.Bauer,CEO

• ThomasJ.Mitchell,PresidentandChiefOperatingOfficer("COO")

• MichaelD.Grubbs,ChiefFinancialOfficer("CFO")andTreasurer

• BradleyW.Blank,VicePresident,GeneralCounselandSecretary

• GlennJ.Keeler,VicePresidentandChiefAccountingOfficer

OnJanuary8,2018,theCompanyannouncedthatMr.BlankwastransitioningtotheroleofPresidentoftheCompany'sWinchesterHomesbrand.Inconnectionwiththetransition,Mr.BlankresignedasVicePresident,GeneralCounselandSecretaryoftheCompany.OnJanuary8,2018,theCompanyalsoannouncedthatDavidC.LeewasappointedasVicePresident,GeneralCounselandSecretaryoftheCompany.Formoreinformationregardingourcurrentexecutiveofficers,see"Management."

Introduction and Compensation Philosophy

Wedesignourcompensationprogramstoachievethefollowingkeyobjectives:

• aligntheinterestsofourexecutiveofficerswiththoseofourstockholders;

• motivateexecutiveofficerstogrowlong-termstockholdervalue;

• reinforceourpayforperformanceculturebyaligningthecompensationrealizedbyourexecutiveofficerswiththeachievementofcompanygoals;

• providetotalcompensationopportunitiesthatallowustoattract,retainandmotivatetalentedexecutiveofficers;and

• promotedesiredbehaviorthroughincentivecompensationwithoutencouragingimprudentrisk-taking.

Outlinedbelowarethetoolsweusetoobtaintheseobjectives:

Link Pay to Performance :Welinkasignificantportionofexecutiveofficercompensationtoperformance.Onaverage,morethanone-halfof2017NEOtotalcompensationwasperformance-basedandwastiedtoseveralfinancialperformancemetrics.

Balance Performance Considerations :Weutilizeshort-termandlong-termperformanceawardstomotivateperformancewhilemitigatingincentivesforunduerisk-taking.

Short-TermPerformance.In2017,wegrantedcashincentiveawardswithpayoutsbasedonachievementofpre-taxincomeobjectivesfortheyear.

Long-TermPerformance.In2017,wegrantedequityawardsintheformofrestrictedstockunits("RSUs")tomotivatelong-termperformance,aligntheinterestsofourexecutiveofficerswiththoseofourstockholders,andencourageretention.Onaverage,morethanone-halfof2017NEOtotalcompensationwasequitybased.Inthecaseof

Messrs.Bauer,Mitchell,andGrubbs,60%oftheRSUsgrantedin2017(attargetperformance)wereperformance-basedand40%weretime-based.TheRSUsawardedtoMessrs.BlankandKeelerwere100%time-based.

Maintain Rigorous Stock Ownership Guidelines :Ourminimumstockownershipguidelinesencourageownershipandfurtheraligntheinterestsofourexecutiveofficerswiththoseofourstockholders.

Thesepaypracticesarediscussedinmoredetailunder"—2017NEOCompensationDecisions"below.

Other Compensation and Governance Practices

What We Do

ü Independent Consultant: Sinceourinitialpublicofferingin2013,ourCompensationCommitteehasengagedanindependentcompensationconsultantthatdoesnotprovideanyotherservicestous.

ü Independent Chairman of the Board of Directors: WeseparatetherolesofChairmanoftheBoardofDirectorsandChiefExecutiveOfficer.ThisseparationallowstheChairmantofocusontheeffectivenessofourBoardofDirectorsandoversightofourseniormanagementwhileourCEOfocusesonexecutingourstrategyandmanagingourbusiness.

ü Prohibition on Hedging: Weprohibitalldirectors,officersandemployeesfromengagingintransactionsthathavetheeffectofhedgingtheeconomicvalueoftheirinterestsinourcommonequity.

ü Clawback Policy: Wehaveapolicythatprovidesforrecoupmentofincentivecompensationintheeventofanaccountingrestatementandmisconductofanexecutiveofficer.

ü Equity Grant Time Policy: Wehaveadoptedapolicyregardingthetimingofequityawards.

What We Do Not Do

û Provide Tax Gross Ups on Change in Control Benefits.û Provide Excessive Executive Perquisites.û Provide Tax Gross Ups on Perquisites or Benefits.û Guarantee Base Salary Increases or Incentive Payments for Executives.û Allow for Re-Pricing of Underwater Stock Options without Stockholder Approval.

Compensation Decision-Making Process

Role of the Compensation Committee

TheCompensationCommitteeisresponsibleforreviewingandapproving,onanannualbasis,thecorporategoalsandobjectiveswithrespecttothecompensationofallofourexecutiveofficers,asdescribedintheCompensationCommitteeCharter.TheCompensationCommitteereliesonitsownreviewandtheadviceofitsindependentcompensationconsultantinestablishingexecutiveofficerpay.

TheCompensationCommitteeseekstheinputoftheCEOinmakingexecutiveofficerpaydecisions,buttheCompensationCommitteemakesalldecisions.

InFebruary2017,theCompensationCommitteeapprovedannualincentiveperformanceobjectivesforfiscalyear2017andlong-termincentiveawardstoourNEOsunderour2013LTIP.Afterthecompletionoffiscalyear2017,theCompensationCommittee(i)approved2017annualincentivepayoutsforourNEOsbasedontheachievementoftheperformanceobjectivesestablishedatthebeginningoftheyear,and(ii)certifiedachievementofperformanceobjectiveswithrespecttothelong-termincentiveawardsgrantedtoMessrs.Bauer,MitchellandGrubbsin2015thathadperformanceperiodsendingDecember31,2017.InFebruary2018,theCompensationCommitteeapprovedannualincentiveperformanceobjectivesforfiscalyear2018andlong-termincentiveawardstoourexecutiveofficersunderour2013LTIP.

Independent Compensation Consultant to the Compensation Committee

TheCompensationCommitteehasengagedSemlerBrossyasitsindependentcompensationconsultant.SemlerBrossy'sdutiesincludepreparationofmaterialfortheCompensationCommittee'sexecutiveofficerpayanalysis,reviewofourpeergroup,recommendationsfornon-employeedirectorcompensation,discussionandanalysisofpotentialincentiveprograms,andworkonbehalfoftheCompensationCommitteetoreviewmanagement'srecommendationstotheCompensationCommitteeaboutexecutiveofficerpaymatters.SemlerBrossyhasbeenretainedby,andreportsdirectlyto,theCompensationCommittee,anddoesnotprovideanyservicestousotherthanthosedescribedabove.TheCompensationCommitteehasassessedSemlerBrossy'sindependenceinlightoftheSECrequirementsandNYSElistingstandardsrelatingtoadviserindependenceanddeterminedthatSemlerBrossy'sworkdoesnotraiseanyconflictofinterestorindependenceconcerns.

Peer Group and Market Data

TheCompensationCommitteeexaminesmarketdataannuallytounderstandbothpaylevelsandpaypractices.TheCompensationCommitteeprimarilyreviewsdatafromapeergroupthatconsistsofpublicly-tradedhomebuildingcompanies,whichtheCompensationCommitteebelievesisanappropriatelistofcompetitorsforbusinessandtalent.TheCompensationCommitteeusespeergroupdatatoassessthereasonablenessofexecutiveofficerpayandgenerallyseekstoensuretheaggregatecompensationfortheexecutiveofficersiscomparableovertimetocompaniessimilartous.ForMessrs.BlankandKeeler,theCompensationCommitteereviewspaydatafromcompensationsurveysforbothhomebuildersandnon-homebuilderswhenassessingpaydecisions.

Overtime,theCompensationCommitteeintendstotargetaggregatepayforourexecutiveofficersaroundthemedianofourpeers.TheCompensationCommitteedoesnothaveanexplicitpaypositioningstrategyrelativetopeersbycomponentofpayorbyexecutive,andourpaylevelsforMessrs.BauerandMitchellareintentionallylessdifferentiatedthanwouldbeexpectedinthemarketgivenourlegacyasaprivatecompanyandthegreatersharingofmanagementresponsibilitiesbetweentheseexecutivesthanwouldbethecaseatmanyotherpeercompanies.

TheCompensationCommittee,inconsultationwithSemlerBrossyandourmanagement,periodicallyreviewsandconsiderschangestothemakeupofourpeergroup.For2017,theCompensationCommitteedidnotmakeanychangestothepeergroupfromtheprioryear.Thecompaniesinour2017peergroupareshowninthetablebelow.Asfurtherdiscussedbelow,theCompensationCommitteealsobasedvestingofone-halfoftheperformance-basedRSUsgrantedto

Messrs.Bauer,Mitchell,andGrubbsin2017onourtotalstockholderreturn("TSR")relativetoourpeergroup.

Our Peer GroupBeazerHomesUSA M/IHomesCalAtlanticGroup* MeritageHomesD.R.Horton NVRHovnanianEnterprises PulteGroupKBHome TaylorMorrisonLennar TollBrothersM.D.C.

*In February 2018, CalAtlantic Group and Lennar announced the consummation of a business combination transaction.Consequently,CalAtlanticGroupwasremovedretroactivelyfromourpeergroupuponconsummationofthistransaction.

For2018,theCompensationCommitteeeliminatedD.R.HortonandLennarfromourpeergroupforaggregatepaybenchmarkingpurposes,althoughbothD.R.HortonandLennarremainedinourpeergroupforpurposesofmeasuringourrelativeTSR.D.R.HortonandLennarwereremovedforbenchmarkingpurposesgiventhattheannualrevenueofeachcompanyisgreaterthan5timestheannualrevenueofTRIPointe.Asaresult,bothareoutliersforpaycomparisonpurposes.

Advisory Vote on Executive Compensation

Atour2017AnnualMeetingofStockholders,ourstockholdersvotedtoapproveonanadvisorybasisthecompensationofourNEOs.Morethan97.5%ofthevotescastwithrespecttothisproposalwerecastforapprovalofourNEOs'compensation.TheCompensationCommitteedeterminedthattheexecutivecompensationphilosophyandcompensationelementscontinuedtobeappropriate.Althoughwecontinuetorefineourcompensationprogramsasapubliccompany,wehavenotmadeanychangespecificallyinresponsetotheadvisoryvoteofourstockholders.

Atour2014AnnualMeetingofStockholders,ourstockholdersvotedonanadvisorybasiswithrespecttothefrequencyoffutureadvisoryvotestoapprovethecompensationofourNEOs.Approximately66.4%ofthevotescastonthisproposalwerecastforafrequencyofeverythreeyears.OurBoardofDirectorsconcludedthatavoteeverythreeyearswasthemostappropriatetimeframeforstockholderstoassessourexecutiveofficerpaypracticesbecausethesepracticescontinuetoevolveandchangewiththetransformationoftheCompany,andthesechangeswilltakeplaceoveratimeframelongerthanasingleyear.

Pay Design and Compensation Elements

Ourcompensationprogramsarecomprisedofthefollowingcompensationelements:

• Base salary. Thebasesalariesofourexecutiveofficersareintendedtoprovideacompetitiveleveloffixedcompensationinordertoattract,retain,andmotivatetalentedexecutiveofficers.Basesalariesaregenerallysetbasedoneachexecutiveofficer’sresponsibilities,performance,skills,andexperienceascomparedwithrelevantmarketdata.

• Annual Incentive Program. Infurtheranceofourcompensationphilosophytoawardincentivebonusesbasedonperformance,wedesignourannualincentiveprogramstomotivateandrewardexecutiveofficersforachievingpre-establishedcompanyperformanceobjectives.

• Long-term Incentive Awards. TheCompensationCommitteebelievesthatasubstantialportionofeachexecutiveofficer'scompensationshouldbeintheformoflong-termequityincentivecompensation.Whileourannualincentiveprogramsrewardexecutiveofficersforactionsthatimpactshort-andmid-termperformance,theCompensationCommitteerecognizesthatlong-termequityincentiveawardsalsoservetheinterestsofourstockholdersby:

◦ givingthesekeyemployeestheopportunitytoparticipateinthelong-termappreciationofourcommonstock;

◦ encouragingexecutiveofficerstocreateandsustainstockholdervalueoverlongerperiodsbecausethevalueofequityawardsisdirectlyattributabletochangesinthepriceofourcommonstockovertime;and

◦ promotingexecutiveofficerretentionbecausethefullvalueofequityawardscannotberealizeduntilvestingoccurs,whichgenerallyrequirescontinuedemploymentformultipleyears.

Inaddition,asignificantportionofthelong-termincentiveawardsgrantedtoMessrs.Bauer,Mitchell,andGrubbsareintheformofperformance-basedequityawardslinkedtospecifiedperformancemetrics.

2017 NEO Pay Programs

In2017,theCompensationCommitteecontinuedtheprocessofaligningourpaypracticeswithotherlargehomebuilders.

Thegraphsbelowillustratetherelativeaveragemixofthe(i)basesalary,(ii)annualincentivetarget,and(iii)long-termincentiveawardtargetforMessrs.Bauer,Mitchell,andGrubbsandallotherNEOsfor2017.TheincentivemixforMessrs.Bauer,Mitchell,andGrubbswasmoresubstantiallyperformance-based,recognizingthehigherlevelofresponsibilityoftheseNEOsandtheirgreaterabilitytoinfluenceoverallbusinessresults.

Thetablebelowsummarizesthethreeelementsof2017compensationforourNEOs.Inadditiontothesecompensationelements,ourNEOsparticipateinbenefitsandotherprogramsasdescribedin"—OtherCompensationProgramsandPolicies."

Pay Element Purpose 2017 Description Base Salary

Provideacompetitiveleveloffixedcompensationtoattract,retainandmotivatetalentedexecutiveofficers

TheCompensationCommitteereviewedfixedcashcompensationlevelsandmadeadjustmentsdependingontheexecutiveofficer’sresponsibilities,performance,skillsandexperienceascomparedwithrelevantmarketdata.

Annual CashIncentive

Motivateandrewardexecutiveofficersforachievingpre-establishedcompanyperformancegoals

TheCompensationCommitteeapprovedcashperformanceawardsforourNEOsunderthe2013LTIPwithaperformanceperiodofJanuary1,2017toDecember31,2017.ActualpayoutamountswerebasedontheCompany'slevelofachievementofthe2017fiscalyearpre-taxincomeannualincentiveperformanceobjective(equaltotheCompany'sbusinessplan)establishedbytheCompensationCommittee.

Long-term Incentive

Motivateandrewardexecutiveofficers'contributionstoenhancinglong-termstockholdervalueandtheachievementoflong-termbusinessobjectives;encourageexecutiveretention

Messrs.Bauer,Mitchell,andGrubbsweregrantedamixofperformance-basedandtime-basedRSUs,with60%oftheawardsintheformofperformance-basedRSUs(attargetperformance)and40%oftheawardsintheformoftime-basedRSUs.Thismixofperformance-basedandtime-basedincentivesisconsistentwithourpeersandbalancesperformanceandretentionobjectives.Theperformance-basedRSUshaveaperformanceperiodfromJanuary1,2017toDecember31,2019andareallocatedinequalpartstotwoseparateperformancemetrics:(i)TSR,withvestingbasedonourTSRrelativetoourpeer-group;and(ii)earningspershare("EPS").TheCompensationCommitteebelievestheseperformancemetricsrewardappropriatelyforCompanyperformanceovertimeandaligntheexecutive'sinterestswiththoseofourstockholders.Thelong-termincentiveawardsforMessrs.BlankandKeelerwere100%time-basedRSUs.TheawardvaluesforMessrs.BlankandKeelerareintendedtoreflecttheirindividualperformanceandcontributions.

2017 NEO Compensation Decisions

Inmaking2017NEOcompensationdecisions,theCompensationCommitteeconsideredmedianexecutivepayforthetopthreeexecutivesatotherpublicly-tradedhomebuildingcompanies(see"—PeerGroupandMarketData"above)butdidnottargetanyspecificpercentileofmarketwhenmakingindividualpaydecisions.PayforourCEOandCOOcontinuestobelessdifferentiatedthanistypicalofotherlargehomebuildersgivenourlegacyasaprivatecompanyandthenatureofthesharedmanagementresponsibilitiesofMessrs.BauerandMitchell.

Base Salary

TheCompensationCommitteeapproved2017basesalaryincreasesforeachofourNEOs.TheCompensationCommitteeconsideredeachoftheNEO'sresponsibilities,performance,skillsandexperienceascomparedwithrelevantpeergroupmarketdataindeterminingtoincreasetheirbasesalaries.TheCompensationCommitteetooktherecommendationsofMr.BauerintoconsiderationwhensettingthecompensationofMessrs.BlankandKeeler.Thesizeofthesalaryadjustmentsfor2017continuedtoreflectourtransitiontomarket-basedpractices.

ThetablebelowcomparestheNEOs'basesalariesfor2016and2017.

Executive 2016

Base Salary 2017

Base Salary %

Increase

DouglasF.Bauer $ 700,000 $ 775,000 11%ThomasJ.Mitchell $ 675,000 $ 745,000 10%MichaelD.Grubbs $ 550,000 $ 600,000 9%BradleyW.Blank $ 385,000 $ 410,000 6%GlennJ.Keeler $ 260,000 $ 280,000 8%

Annual Cash Incentive

Atthebeginningof2017,theCompensationCommitteeapprovedannualincentivetargetsforourNEOs.TheseannualincentivetargetsweredefinedasapercentageoftheirbasesalariesandweredeterminedbasedoneachNEO'sresponsibilities,skills,andexperienceascomparedwithrelevantmarketdata.

ThetablebelowcomparestheNEOs'2016and2017annualincentivetargets:

2016 Annual Incentive Target 2017 Annual Incentive TargetExecutive % of Salary $ % of Salary $

DouglasF.Bauer 140% $ 980,000 140% $ 1,085,000ThomasJ.Mitchell 140% $ 945,500 140% $ 1,043,000MichaelD.Grubbs 120% $ 660,000 120% $ 720,000BradleyW.Blank 70% $ 269,500 75% $ 307,500GlennJ.Keeler 75% $ 195,000 75% $ 210,000

For2017,theCompensationCommitteeestablishedpre-taxincomeastheperformancemetricforcashperformanceawardstoallNEOs.Pre-taxincomeisacommonmetricusedwithinthehomebuildingindustryingeneralandtheCompensationCommitteebelievesitiswellalignedwiththeobjectiveofstockholdervaluecreation.

For2017,theCompensationCommitteeapprovedanadjustedpre-taxincomeannualincentiveperformanceobjectiveof$325.4million,whichwasequaltoourbusinessplan.Adjustedpre-taxincomemeansourincomefromcontinuingoperationsbeforetaxes,asreportedinourconsolidatedfinancialstatementsfortherelevantperiods,aftersuchadjustmentstheretoastheCompensationCommitteedeemsappropriateinitssolediscretion(i)toexcludetheeffectofextraordinary,unusualand/ornonrecurringitems,includingnetincomeattributabletonon-controllinginterests,andchangesinapplicableaccountingstandardsand(ii)toreflectsuchotherfactorsastheCompensationCommitteedeemsappropriatetofairlyreflectpre-taxincome.PayoutswerebasedonourlevelofachievementofthisperformanceobjectiveandwerecalculatedbasedonpercentagesofeachNEO'sannualincentivetarget,assetforthinthetablebelow:

Performance ObjectiveAchievement Level % of Business Plan

NEO Payout(as % of 2017 Annual Incentive

Target)Threshold 75% 50%

Target 100% 100%

Maximum 125% 200%

Achievementbetweenthethreshold,targetandmaximumlevelswouldbedeterminedbystraightlineinterpolationandachievementbelowthresholdwouldresultinzeroincentivepayoutfortheNEO.

TheCompany'spre-taxincomeforfiscalyear2017wasapproximately$339.8million,andtheCompensationCommitteedeterminedthatouradjustedpre-taxincomefor2017wasapproximately$339.5million,or104.3%oftheannualincentiveperformanceobjective.See"—Non-GAAP Measures" below for a reconciliation of adjusted pre-tax income to the most directly comparable GAAP financialmeasure.

Thetablebelowpresentstheresultsofour2017annualcashincentiveprogramandthecorrespondingpayoutstoeachoftheNEOsbasedontheseresults.

2017 Annual Incentive PayoutAnnual Incentive Based on Pre-tax Income % of Target % of Salary $

DouglasF.Bauer 117.3% 164.2% $ 1,272,705ThomasJ.Mitchell 117.3% 164.2% $ 1,223,439MichaelD.Grubbs 117.3% 140.8% $ 844,560BradleyW.Blank 117.3% 88.0% $ 360,698GlennJ.Keeler 117.3% 88.0% $ 246,330

Long-Term Incentives

Atthebeginningof2017,theCompensationCommitteedeterminedthetargetvalueofthelong-termincentiveawardsthatwouldbegrantedtoeachoftheNEOsin2017basedontheNEO'sresponsibilities,skills,experienceandcontributions.RecognizingthehigherlevelofresponsibilityofMessrs.Bauer,Mitchell,andGrubbsandtheirgreaterabilitytoinfluenceoverallbusinessresults,theCompensationCommitteestructuredthe2017long-termincentiveprogramsothatthesethreeNEOsweregrantedamixofperformance-basedandtime-basedRSUs.Allofthelong-termincentiveawardsgrantedtoMessrs.BlankandKeelerin2017weretime-basedRSUs.

Thetargetvalueofthelong-termincentiveawardsgrantedtotheNEOsin2017wasasfollows:

2017 Long-term Incentive Award Target Values

Executive Performance- Based

RSUs Time-Based RSUs Total

DouglasF.Bauer $ 1,560,000 $ 1,040,000 $ 2,600,000ThomasJ.Mitchell $ 1,500,000 $ 1,000,000 $ 2,500,000MichaelD.Grubbs $ 720,000 $ 480,000 $ 1,200,000BradleyW.Blank $ — $ 316,859 $ 316,859GlennJ.Keeler $ — $ 230,443 $ 230,443

Indeterminingthetargetvalueoflong-termincentiveawardsthatwouldbegrantedin2017,theCompensationCommitteeconsideredthevalueofthelong-termincentiveawardsgrantedin2016andthestructureofthe2016long-termincentiveprogram.TheCompensationCommitteemaintainedthetargetvalueofthelong-termincentiveawardsgrantedtoMessrs.BauerandMitchellin2017ascomparedto2016.TheCompensationCommitteeincreasedthetargetvalueoflong-termincentiveawardswith

respecttoMessrs.Grubbs,Blank,andKeelertocontinuetoaligntheirlong-termincentiveawardswithmarketpractices.

TheCompensationCommitteestructuredthe2017long-termincentiveprogramforMessrs.Bauer,Mitchell,andGrubbstobe60%performance-basedRSUs(attargetperformance)and40%time-basedRSUs.Thismixofperformance-basedandtime-basedincentiveawardsisconsistentwithourpeersandbalancesperformanceandretentionobjectives.

Performance-basedRSUs

TheCompensationCommitteegranted257,851,247,933and119,008performance-basedRSUstoMessrs.Bauer,Mitchell,andGrubbs,respectively,pursuanttoour2013LTIP.Thenumberofperformance-basedRSUswasdeterminedbymultiplying(i)thequotientof(x)thetargetvalueoftheawardand(y)theclosingmarketpriceoftheCompany'scommonstockonthedateofgrantby(ii)two,representingthemaximumnumberofRSUsthatmayvestassumingourattainmentofthemaximumperformanceobjectivesetbytheCompensationCommittee.TheCompensationCommitteeselectedTSRastheperformancemetricforone-halfoftheperformance-basedRSUsgrantedin2017,withvestingoftheRSUsbasedonourTSRrelativetoourpeergroup,whichtheCompensationCommitteebelievesrewardsappropriatelyforperformanceovertimeandalignstheexecutive'sinterestswiththoseofourstockholders.TheCompensationCommitteeselectedEPSastheperformancemetricforone-halfoftheperformance-basedRSUsgrantedin2017inordertofurtheraligntheinterestsoftheNEOswiththoseofourstockholders.

TheCompensationCommitteestructuredtheperformance-basedRSUssothatthevesting,ifatall,oftheseRSUswillbebasedonourpercentageattainmentofspecifiedthreshold,target,andmaximumperformanceobjectiveswithrespecttoeachperformancemetric.Withrespecttotheperformance-basedRSUsallocatedtoeachperformancemetric:

• atthresholdperformance,theNEOwillvestin25%oftheperformance-basedRSUs,representing50%ofthetargetvalueoftheperformance-basedRSUsonthegrantdate;

• attargetperformance,theNEOwillvestin50%oftheperformance-basedRSUs,representing100%ofthetargetvalueoftheperformance-basedRSUsonthegrantdate;

• atmaximumperformance,theNEOwillvestin100%oftheperformance-basedRSUs,representing200%ofthetargetvalueoftheperformance-basedRSUsonthegrantdate;

• thepercentageoftheperformance-basedRSUsthatwillvestifourperformanceisbetweenthethreshold,targetandmaximumperformancelevelswillbedeterminedbystraightlineinterpolation;and

• achievementbelowthresholdwouldresultinvestingofzerooftheperformance-basedRSUs.

InthecaseoftheTSRperformance-basedRSUs,theperformanceobjectivesareassetforthinthetablebelow(TSRpercentilemeansourpercentilerankduringtheperformanceperiodrelativetotheTSRforourpeergroup):

Performance Level The Company’s TSR Percentile on Vesting Date Percentage of Award that VestsMaximum 75thTSRPercentileandAbove 100%Target 50thTSRPercentile 50%Threshold 35thTSRPercentile 25%BelowThreshold Below35thTSRPercentile 0%

InthecaseoftheEPSperformance-basedRSUs,theperformanceobjectivesareassetforthinthetablebelow:

Performance Level The Company’s Cumulative EPS Percentage of Award that VestsMaximum 125%ofCumulativeEPSPlanandAbove 100%Target 100%ofCumulativeEPSPlan 50%Threshold 75%ofCumulativeEPSPlan 25%BelowThreshold Below75%ofCumulativeEPSPlan 0%

Theperformanceperiodfortheperformance-basedRSUsisJanuary1,2017toDecember31,2019.Iftheperformance-basedRSUsdonotvestonorbeforeDecember31,2019,theywillbecancelledandforfeitedfornoconsideration.TSRisdeterminedbasedonchangesinstockpriceplusdividendspaidduringtheapplicableperformanceperiod.TheCompensationCommitteemaymakeadjustmentstoourpeergroupbasedondevelopmentsthatoccurduringtheperformanceperiod,suchasremovingfromthepeergroup,retroactivelytothebeginningoftheperformanceperiod,anycompanynolongerexistingasanindependententityorwhichhasannounceditisbeingacquired.

InthecaseoftheEPSperformance-basedRSUs,theCompensationCommitteemayadjustEPSasitdeemsappropriateto(i)excludetheeffectofextraordinary,unusualand/ornonrecurringitemsandchangesinapplicableaccountingstandardsand(ii)reflectsuchotherfactorsasitdeemsappropriatetofairlyreflectearningspersharegrowth.

TheCompensationCommitteebelievesexceptionalCompanyperformanceisrequiredtoachievethemaximumperformanceobjectiveandthatitwouldbedifficulttoachievemaximumvestingoftheperformance-basedRSUs.Thedifficultyofattainingtheperformanceobjectivesfortheperformance-basedRSUsisinherentlyuncertainbecausetheyaresubjecttoanumberoffactorsbeyondthecontrolofeithertheCompanyortheNEO,includingoveralleconomicconditions,theperformanceofthesecuritiesmarketsgenerally,andotherrisksanduncertaintiesthatweface,includingthosedescribedinourannualreportonForm10‑KandotherSECfilings.

Time-basedRSUs

TheCompensationCommitteealsogranted85,950,82,644,39,669,26,186,and19,044time-basedRSUstoMessrs.Bauer,Mitchell,Grubbs,Blank,andKeeler,respectively,vestingone-thirdeachyearbeginningonthefirstanniversary.Thenumberoftime-basedRSUsgrantedtoeachNEOwasdeterminedbydividingthetargetvalueoftheawardbytheclosingmarketpriceoftheCompany'scommonstockonthedateofgrant.The2017time-basedRSUawardspromoteexecutiveofficerretentionbyvestingannuallyastoone-thirdofeachawardoverathree-yearperiod.

ThevalueoftheawardstoMessrs.BlankandKeelerwasbasedonrecommendationsmadebyourCEOtotheCompensationCommitteeafterevaluationofeachsuchNEO'sresponsibilities,skills,experience,andcontributions,andrelevantmarketinformation.

2018 Executive Officer Pay Programs

TheCompensationCommitteetookthefollowingactionswithrespectto2018executivecompensation:

• Base Salary. TheCompensationCommitteeapproved2018basesalaryincreasesforMessrs.Bauer,MitchellandKeelerof$25,000,$25,000,and$10,000,respectively,basedoncompetitivemarketpracticesforexecutiveofficersinsimilarroles.

• Annual Cash Incentive Program. TheCompensationCommitteeapproved2018targetannualincentivepercentagesforMessrs.Bauer,Mitchell,Grubbs,KeelerandLeeof160%,160%,125%,75%and25%ofbasesalary,respectively.Thepayoutamounts,ifany,mayrangefrom0%to200%ofthetargetannualincentiveandwillbebasedontheCompany'sachievementofspecifiedpre-taxincomeamountsandwillbecalculatedbasedonpercentagesofeachofficer'starget.

• Long-Term Incentive Program.

TheCompensationCommitteedidnotmakeanychangestothelong-termincentiveprogramstructurefor2018.TheCompensationCommitteegrantedMessrs.Bauer,MitchellandGrubbsamixofperformance-basedandtime-basedRSUs,with60%oftheawardsintheformofperformance-basedRSUs(attargetperformance)and40%oftheawardsintheformoftime-basedRSUs.Thismixofperformance-basedandtime-basedincentivesisconsistentwithpeersandbalancesperformanceandretentionobjectives.Theperformance-basedRSUsareallocatedinequalpartstotwoseparateperformancemetrics:(i)TSR,withvestingbasedontheCompany'sTSRrelativetoitspeer-grouphomebuilders;and(ii)EPS.Theperformanceperiodfortheperformance-basedRSUsisJanuary1,2018toDecember31,2020.TheCompensationCommitteebelievestheseperformancemetricsrewardappropriatelyforCompanyperformanceovertimeandaligntheexecutive'sinterestswiththoseofourstockholders.Thelong-termincentiveawardsforMessrs.KeelerandLeeare100%time-basedRSUsastheseexecutiveshavelessdirectresponsibilityandimpactoverdrivingTSR.

TheCompensationCommitteegranted184,179,177,095and85,005performance-basedRSUstoMessrs.Bauer,MitchellandGrubbs,respectively.Thenumberofperformance-basedRSUsgrantedtotheseexecutiveofficersin2018wasdeterminedbymultiplying(i)thequotientof(x)thetargetvalueoftheawardand(y)theclosingmarketpriceoftheCompany'scommonstockonthedateofgrantby(ii)two,representingthemaximumnumberofRSUsthatmayvestassumingourattainmentofthemaximumperformanceobjectivesetbytheCompensationCommittee.Theseperformance-basedRSUsweregrantedpursuanttoour2013LTIP.

TheCompensationCommitteealsoawarded61,393,59,031,28,335,14,437and2,951time-basedRSUstoMessrs.Bauer,Mitchell,Grubbs,KeelerandLee,respectively,vestingone-thirdeachyearbeginningonthefirstanniversaryofthegrantdateoftheawardunits.

Thetargettotalannualcompensationofourcurrentexecutiveofficersfor2018isasfollows:

2018 Total Target Compensation by Element

Executive Base

Salary Target

Annual Incentive

TargetLong-termIncentive Total

DouglasF.Bauer $ 800,000 $ 1,280,000 $ 2,600,000 $ 4,680,000ThomasJ.Mitchell $ 770,000 $ 1,232,000 $ 2,500,000 $ 4,502,000MichaelD.Grubbs $ 600,000 $ 750,000 $ 1,200,000 $ 2,550,000GlennJ.Keeler $ 290,000 $ 217,500 $ 244,575 $ 752,075DavidC.Lee $ 500,000 (1) $ 125,000 $ 50,000 $ 725,000

__________(1)Inaddition,Mr.Leereceiveda$50,000signingbonuswhenhewashiredinJanuary2018.

Forcomparison,thetargettotalannualcompensationofMessrs.Bauer,Mitchell,GrubbsandKeelerin2017wasasfollows:

2017 Total Target Compensation by Element

Executive Base

Salary Target

Annual Incentive

TargetLong-termIncentive Total

DouglasF.Bauer $ 775,000 $ 1,085,000 $ 2,600,000 $ 4,460,000ThomasJ.Mitchell $ 745,000 $ 1,043,000 $ 2,500,000 $ 4,288,000MichaelD.Grubbs $ 600,000 $ 720,000 $ 1,200,000 $ 2,520,000GlennJ.Keeler $ 280,000 $ 210,000 $ 230,443 $ 720,443

2015 Performance-Based RSUs

InMarch2015,theCompensationCommitteegrantedMessrs.Bauer,MitchellandGrubbsperformance-basedRSUstiedtothreeseparateperformancemetrics:

• TSR,withvestingbasedontheCompany'sTSRrelativetoitspeer-grouphomebuilders;• EPS;and• absolutestockprice,calculatedastheaverageclosingpricepershareoftheCompany'scommonstockasreportedbytheNew

YorkStockExchangeforeachofthetradingdaysinthesixty(60)calendardayperiodendingonandincludinganyrelevantdate.

TheCompensationCommitteeallocatedone-thirdoftheperformance-basedRSUsgrantedtoeachoftheseperformancemetrics.TheperformanceperiodfortheTSRperformance-basedRSUsandtheEPSperformance-basedRSUswasJanuary1,2015toDecember31,2017.Theperformanceperiodfortheperformance-basedRSUswithvestingbasedonabsolutestockpricewasJanuary1,2016toDecember31,2017.Thevesting,ifatall,oftheseperformance-basedRSUswasbasedonourpercentageattainmentofspecifiedthreshold,target,andmaximumperformanceobjectiveswithrespecttoeachperformancemetric.

InthecaseoftheTSRperformance-basedRSUs,theperformanceobjectiveswereassetforthinthetablebelow:

Performance Level The Company's TSR Percentile on Vesting Date Percentage of Award that VestsMaximum 75thTSRPercentileandAbove 100%Target 50thTSRPercentile 50%Threshold 35thTSRPercentile 25%BelowThreshold Below35thTSRPercentile 0%

InthecaseoftheEPSperformance-basedRSUs,theperformanceobjectiveswereassetforthinthetablebelow.TheCompensationCommitteehastheabilitytoadjustEPSasitdeemsappropriateto(i)excludetheeffectofextraordinary,unusualand/ornonrecurringitemsandchangesinapplicableaccountingstandardsand(ii)reflectsuchotherfactorsasitdeemsappropriatetofairlyreflectearningspersharegrowth.

Performance Level The Company’s Cumulative EPS Per Share Percentage of Award that VestsMaximum $4.66andAbove 100%Target $3.73 50%Threshold $2.80 25%BelowThreshold Below$2.80 0%

Inthecaseoftheperformance-basedRSUswithvestingbasedonabsolutestockprice,theperformanceobjectiveswereassetforthinthetablebelow:

Performance Level The Company’s Absolute Stock Price Per Share Percentage of Award that VestsMaximum $24.00andAbove 100%Target $21.00 50%Threshold $18.00 25%BelowThreshold Below$18.00 0%

OnFebruary15,2018,theCompensationCommitteecertifiedtheactualperformanceachievedwithrespecttotheseperformance-basedRSUsfortheperformanceperiodsendingDecember31,2017assetforthbelow:

• TSR.TheCompensationCommitteedeterminedthattheCompany’srelativeTSRwasbelowthe35thTSRpercentileandnoneoftheTSRperformance-basedRSUsvested.

• EPS.TheCompany'scumulativeEPSperfullydilutedsharewas$3.69.TheCompensationCommitteedeterminedthattheCompany'scumulativeEPSperfullydilutedshare,asadjustedtoexcludetheimpactofa$22.0millionchargeasaresultofthere-measurementoftheCompany’sdeferredtaxassetsrelatedtotheTaxCutsandJobsActthatwassignedintolawinDecember2017,was$3.83pershareand55.45%oftheEPSperformance-basedRSUsgrantedtoeachofMessrs.Bauer,MitchellandGrubbsvested.See "—Non-GAAP Measures" below for a reconciliation of adjusted cumulative EPS per fully diluted share to the mostdirectly comparable GAAP financial measure.

• AbsoluteStockPrice.TheCompensationCommitteedeterminedthattheCompany'sabsolutestockpricedidnotexceed$18.00pershareandnoneoftheperformance-basedRSUswithvestingbasedonabsolutestockpricevested.

Therefore,theCompensationCommitteeapprovedtheissuanceof76,115,71,040and50,743sharesoftheCompany’scommonstocktoMessrs.Bauer,MitchellandGrubbs,respectively.

Other Compensation Programs and Policies

Severance and Change in Control Benefits

InNovember2015,weenteredintonewemploymentagreementswitheachofMessrs.Bauer,Mitchell,andGrubbs.Theseemploymentagreementssupersedetheemploymentagreementspreviouslyenteredintowitheachofthem.Theseagreementsgoverntheirtreatmentuponaterminationofemployment,amongotherconsiderations,andhaveaninitialtermexpiringonNovember19,2018.Thechangeincontrolcomponentoftheseagreementsreflectsourbeliefthattheinterestsofstockholderswillbebestservediftheinterestsoftheseexecutivesarealignedwiththestockholders,andthatprovidingchangeincontrolbenefitsshouldeliminateoratleastreducedisincentivestopursuepotentialchangeincontroltransactionsthatmaybeinthebestinterestsofstockholders.

InFebruary2016,weenteredintoseveranceandchangeincontrolprotectionagreementswitheachofMessrs.BlankandKeeler.Theseagreementsgovernthetreatmentofeachofthemuponaterminationofemployment,includinginconnectionwithachangeincontrol,andhaveaninitialtermexpiringonFebruary26,2019.InJanuary2018,weenteredintoaseveranceandchangeincontrolprotectionagreementwithMr.Lee.ThisagreementgovernsthetreatmentofMr.Leeuponaterminationofemployment,includinginconnectionwithachangeincontrol,andhasaninitialtermexpiringonJanuary8,2021.

Seethe"ExecutiveCompensation—PotentialPaymentsUponTerminationorChangeinControl"sectionofthisproxystatementforfurtherinformationregardingtheseveranceandchangeincontrolprovisionsoftheseagreementsandaquantificationofthecompensationtobereceivedintheeventofachangeincontrolorterminationoftheemploymentofMessrs.Bauer,Mitchell,Grubbs,BlankandKeelerasofDecember31,2017.

Benefits

Ourexecutiveofficersparticipateinretirementandbenefitplansgenerallyavailabletoour,andonthesametermsas,otheremployees.Thesebenefitsincludea50%matchontheir401(k)contributionsupto$8,100aswellasmedical,vision,dental,employeeassistanceprogram,lifeinsuranceandlong-termdisabilitycoverage.Wealsoprovidecertainofourexecutiveofficerswithareimbursementoflifeinsurancepremiumsandreimbursementofclubmembershipdues.

Equity Grant Time Policy

ItisthepolicyoftheCompensationCommitteethatregularannualequityawardsaregrantedonthelaterofthesecondbusinessdayafterthepublicreleaseoffiscalyear-endearnings,or(iflater)theMondayfollowingthedateonwhichtheCompensationCommitteeapprovestheawards.TheCompensationCommitteemayinitsdiscretionmakeequityawardsatothertimesinconnectionwithnewhires,promotionsorspecialcircumstances.ThegrantdatefortheseawardswillbetheMondayfollowingthedateonwhichtheCompensationCommitteeapprovestheaward.IfthegrantdateisaMondayandaclosingpriceisnotreportedforthatday,thegrantdatewillbethenextfollowingdayonwhichaclosingpriceisreported.

Stock Ownership Guidelines

OurBoardofDirectorshasadoptedthefollowingstockownershipguidelines:

Position Ownership GuidelineDirectors 5timesannualcashretainerCEO 5timesbasesalaryCOO 5timesbasesalaryCFO 3timesbasesalaryCorporatevicepresidents 1timesbasesalaryPresidentsofhomebuildingsubsidiaries 1timesbasesalary

Directorsandexecutiveofficershavefiveyearsfromthedateonwhichtheybecomesubjecttotheguidelinestosatisfytheapplicableguidelinelevel.Forthepurposesoftheseguidelines,ownershipincludessharesbeneficiallyownedandunvestedrestrictedstockandRSUawardssubjectonlytotime-basedvesting.Unexercisedoptions,whethervestedornot,donotcountasstock"owned"undertheseguidelines.Duringtheapplicablefive-yeartransitionperiod,ifaparticipantisnotincompliancewiththeapplicableguideline,heorsheisrequiredtoretain60%ofsharesearnednetoftaxesfromanyofourincentiveplansuntilheorsheisincompliancewiththeguidelines.Ifaparticipantfailstoachievetherequiredownershipduringtheapplicablefive-yeartransitionperiod,thatpersonwillthereafterberequiredtoretain100%ofsharesearnednetoftaxesuntilthetargetedownershiplevelisattained.AsofFebruary26,2018,eachofourdirectorsandNEOssatisfiestheapplicablestockownershipguidelinelevels.

"Clawback "Policy

TheCompensationCommitteeadministersour"clawback"policythatprovidesforrecoupmentfromourexecutiveofficersofincentivecompensationintheeventofcertainrestatementsofourfinancialresults.Incentivecompensationunderthispolicymeansallcashbonusesandequitycompensationawardedtoacoveredexecutive,theamount,paymentand/orvestingofwhichwascalculatedbasedwhollyorinpartontheapplicationofobjectiveperformancecriteria.Itdoesnotcoveranexecutive'sbasesalary.Atriggereventoccursunderthepolicywhenwearerequiredtoprepareanaccountingrestatementofourfinancialstatementsduetoamaterialnoncompliancewithanyfinancialreportingrequirementunderthesecuritieslaws.If,followingatriggerevent,theCompensationCommitteedeterminesthat:

• theamountofanyincentivecompensationawardedto,orreceivedby,acoveredexecutiveduringthethree-yearperiodprecedingthedateonwhichwearerequiredtopreparetheaccountingrestatementwouldhavebeenlower(andnotearned)haditbeencalculatedbasedontherestatedfinancialresults;and

• theexecutiveengagedinfraud,intentionalmisconductorgrossnegligence,theCompensationCommitteewillseektorecoupfromtheexecutivetheafter-taxportionofthedifferencebetweentheawardedcompensationandtheactualcompensation.

TheCompensationCommitteeisnotrequiredtoseekrecoupmentfromanexecutiveifitdeterminesthatseekingrecoverywouldnotbeinourbestinterests.Inmakingthisdetermination,theCompensationCommitteemaytakeintoaccount,amongotherfactors,theprobabilityofsuccessunderapplicablelaw;thecostofseekingrecoupment;theeffectofseekingrecoupmentonanypendingorthreatenedinvestigations,litigationorotherproceedingsinvolvingus;thedifficultyofproof;thepossibilityofcounterclaimsagainstus;andtheamountsubjecttorecoupment.TheCompensationCommitteeisauthorizedunderthepolicytodetermineinitsdiscretionthemethodforobtainingrecoupment.

No Hedging of Company Stock

Asdescribedfurtherintheourpolicyoninsidertrading,alldirectors,officers,andotheremployeesareprohibitedfromenteringintotransactionswhichhavetheeffectofhedgingtheeconomicvalueofanydirectorindirectinterestsofthepersoninourcommonequity.

Tax Deductibility; Section 162(m)

Asapublicly-tradedcompany,wearesubjecttoSection162(m)oftheInternalRevenueCode("Section162(m)")whichlimitsourabilitytodeductforU.S.incometaxpurposescompensationinexcessof$1millionpaidtoourCEOandthreeothermosthighlycompensatedofficers(otherthantheCFO)unlessthecompensationisperformance-basedunderSection162(m).TherecentlyenactedTaxCutsandJobsActmadesignificantchangestoSection162(m).Beginningin2018,Section162(m)limitsdeductionsto$1millionforcompensationpaidtoourCFOaswellasourCEOandourthreeothermosthighlycompensatedofficers.Inaddition,beginningin2018theexceptiontothe$1milliondeductionlimitationforcommissionandperformance-basedcompensationhasbeeneliminated.However,compensationpaidpursuanttoawrittenbindingagreementineffectonNovember2,2017thathasnotbeenmateriallymodifiedthereafterisgrandfatheredandcancontinuetoqualifyfortheperformance-basedcompensationexemption,assumingallotherSection162(m)requirementsaremet.Becauseoftheambiguitiesanduncertaintiesastothescopeofthisgrandfatherprovision,noassurancecanbegiventhatcompensationoriginallyintendedtoqualifyfortheexemptionwill,infact,befullydeductible.

TheCompensationCommitteeconsiderstaxdeductibilitytobeanimportant,butnotthesole,orprimary,considerationinsettingexecutivecompensation.BecausetheCompensationCommitteealsorecognizestheneedtomaintainflexibilitytomakecompensationdecisionsthatmaynotmeetthestandardsofSection162(m)whennecessarytoenableustocontinuetoattract,retain,andmotivatetalentedexecutiveofficers,itreservestheauthoritytoapprovepotentiallynon-deductiblecompensation.

Non-GAAP Measures

InthisCompensationDiscussionandAnalysis,wereferencecertainfinancialmeasuresusedbytheCompensationCommitteeinconnectionwithexecutivecompensationcalculatedotherthaninaccordancewithU.S.generallyacceptedaccountingprinciples("GAAP"),includingadjustedpre-taxincomeandadjustedcumulativeEPS,whicharereconciledtothenearestGAAPfinancialmeasureintheinformationbelow.Thesenon-GAAPfinancialmeasuresmaynotbecomparabletoothersimilarlytitledmeasuresofothercompaniesandshouldnotbeconsideredinisolationorasasubstitutefor,orsuperiorto,financialmeasurespreparedinaccordancewithGAAP.

Reconciliation of Adjusted Pre-Tax Income for 2017 Annual Cash Incentive Year Ended December 31, 2017Income before income taxes $339,818,636Less:Netincomeattributabletononcontrollinginterest ($360,223)Adjusted pre-tax income $339,458,414

Reconciliation of Cumulative EPS for 2015 EPS Performance-Based RSUs2015 diluted earnings per share $1.272016 diluted earnings per share $1.212017 diluted earnings per share $1.21Cumulative diluted earnings per share $3.69Add:U.S.taxlawreformimpact(1) $0.14Adjusted cumulative diluted earnings per share $3.83

____________________

(1) Impactto2017dilutedearningspersharefroma$22.0millionchargerelatedtothere-measurementoftheCompany'snetdeferredtaxassetsasaresultoftheTaxCutsandJobsActenactedinDecember2017.

COMPENSATION COMMITTEE REPORT

TheCompensationCommitteehasreviewedanddiscussedtheCompensationDiscussionandAnalysiswithmanagement.

Basedonsuchreviewanddiscussionwithmanagement,theCompensationCommitteerecommendedtoourBoardofDirectorsthattheCompensationDiscussionandAnalysisbeincludedinthisproxystatementandincorporatedbyreferenceinourAnnualReportonForm10-KfortheyearendedDecember31,2017.

Respectfullysubmittedby:

THECOMPENSATIONCOMMITTEEOFTHEBOARDOFDIRECTORS

ConstanceB.Moore,CompensationCommitteeChairDanielS.FultonStevenJ.Gilbert

OWNERSHIP OF OUR COMMON STOCK

ThefollowingtablesetsforththebeneficialownershipofourcommonstockasofFebruary26,2018by(i)eachofourdirectors,(ii)eachoftheexecutiveofficersnamedinthetableentitled"Fiscal2017SummaryCompensationTable",(iii)allofourdirectorsandcurrentexecutiveofficersasagroupand(iv)eachpersonknownbyustobethebeneficialownerof5%ormoreofouroutstandingcommonstock.

Toourknowledge,exceptasotherwisesetforthinthefootnotestothetable,eachpersonnamedinthetablehassolevotingandinvestmentpowerwithrespecttoallofthesecuritiesshownasbeneficiallyownedbysuchperson.Thenumberofsecuritiesshownrepresentsthetotalnumberofsecuritiestheperson"beneficiallyowns,"asdeterminedbytherulesoftheSEC.TheSEChasdefined"beneficial"ownershipofasecuritytomeanthepossession,directlyorindirectly,ofvotingpowerand/orinvestmentpower.Asecurityholderisalsodeemedtobe,asofanydate,thebeneficialownerofallsecuritiesthatsuchsecurityholderhastherighttoacquirewithin60daysafterthatdatethrough(i)theexerciseofanyoption,warrantorright,(ii)theconversionofasecurity,(iii)thepowertorevokeatrust,discretionaryaccountorsimilararrangementor(iv)theautomaticterminationofatrust,discretionaryaccountorsimilararrangement.Exceptasnotedbelow,theaddressforallbeneficialownersinthetablebelowis19540JamboreeRoad,Suite300,Irvine,California92612.

Name of Beneficial Owner Shares Beneficially Owned (1) Percentage (2)

Directors and Executive Officers:

DouglasF.Bauer(3) 1,036,847 *LawrenceB.Burrows 46,623 *

DanielS.Fulton(4) 68,160 *StevenJ.Gilbert 53,599 *ConstanceB.Moore 58,087 *ThomasB.Rogers 54,588 *BradleyW.Blank 61,039 *

MichaelD.Grubbs(5) 367,899 *GlennJ.Keeler 43,943 *

ThomasJ.Mitchell(6) 830,136 *Alldirectorsandcurrentexecutiveofficersasagroup(10persons) 2,562,833 1.7%

5% or more Stockholders:

BlackRock,Inc.(7)(8) 19,037,872 12.6%

DimensionalFundAdvisorsLP(7)(9) 13,194,743 8.7%

FMRLLC(7)(10) 8,647,704 5.7%

HotchkisandWileyCapitalManagement,LLC(7)(11) 8,876,699 5.9%

T.RowePriceAssociates,Inc.(7)(12) 9,154,276 6.0%

TheVanguardGroup(7)(13) 12,328,941 8.1%

WellingtonManagementGroupLLP(7)(14) 9,213,190 6.1%__________*Representslessthan1%ofthenumberofsharesofourcommonstockoutstanding.

(1) Beneficialownershipincludesthefollowingsharesthatthedirectorsandexecutiveofficerscouldacquirebyexercisingstockoptionsonorwithin60daysofFebruary26,2018:Mr.Bauer:146,921;Mr.Gilbert:3,699;Mr.Grubbs:144,278;andMr.Mitchell:145,600.ForeachofMessrs.Burrows,Fulton,Gilbert,andRogersandMs.Moore,thebeneficialownershipalsoincludes11,173RSUsthatvestonorwithin60daysofFebruary26,2018.ForeachofMessrs.Bauer,Mitchell,Grubbs,BlankandKeeler,thebeneficialownershipalsoincludes61,696,59,323,27,203,22,397and17,251RSUsthatvestonorwithin60daysofFebruary26,2018.Foralldirectorsandcurrentexecutiveofficersasagroup,thesestockoptionsandRSUsrepresentanaggregateof661,836shares.

(2) Thepercentagesarecalculatedbasedon151,391,065sharesofourcommonstockoutstandingandentitledtovoteasofFebruary26,2018.Foreachperson,separately,hisorherpercentageiscalculatedbyincludinghisorheroptionsandRSUssetforthinFootnote(1)aboveinboththenumeratoranddenominator,andforthedirectorsandcurrentexecutiveofficersasagroup,thepercentageiscalculatedbyincludingthestockoptionsandRSUssetforthinFootnote(1)aboveinboththenumeratoranddenominator.

(3) Amountincludes854,136sharesareheldintrustforthebenefitofMr.Bauerandhisimmediatefamily.(4) Amountincludes30,073sharesheldinajointaccountwithMr.Fulton'sspouse.Mr.Fultonhassolevotinganddispositivepowerwithrespectto38,087

sharesandsharedvotinganddispositivepowerwithrespectto30,073shares.(5) Amountincludes245,585sharesareheldintrustforthebenefitofMr.Grubbsandhisimmediatefamily.(6) Amountincludes610,000sharesareheldintrustforthebenefitofMr.Mitchellandhisimmediatefamily.(7) Thebeneficialownershipfiguresforthe5%ormorestockholdersweretakenfromtheirrespectiveSchedule13GorSchedule13G/Afilingswiththe

SEC.(8) AccordingtotheSchedule13G/AfiledonJanuary19,2018,BlackRock,Inc.hassolevotingpowerwithrespectto18,699,337sharesandsoledispositive

powerwithrespectto19,037,872shares.Itsaddressis55East52ndStreet,NewYork,NY10022.(9) AccordingtotheSchedule13G/AfiledonFebruary9,2018,DimensionalFundAdvisorsLPhassolevotingpowerwithrespectto12,981,585sharesand

soledispositivepowerwithrespectto13,194,743shares.ItsaddressisBuildingOne,6300BeeCaveRoad,Austin,TX78746.(10) AccordingtotheSchedule13GfiledonFebruary13,2018,FMRLLChassolevotingpowerwithrespectto411,525sharesandsoledispositivepower

withrespectto8,647,703shares.Itsaddressis245SummerStreet,Boston,MA02210.(11) AccordingtotheSchedule13G/AfiledonFebruary14,2018,HotchkisandWileyCapitalManagement,LLChassolevotingpowerwithrespectto

7,930,409sharesandsoledispositivepowerwithrespectto8,876,699shares.Itsaddressis725S.FigueroaStreet39thFl.,LosAngeles,CA90017.(12) AccordingtoSchedule13G,filedonFebruary14,2018,T.RowePriceAssociates,Inc.hassolevotingpowerwithrespectto1,572,415sharesandsole

dispositivepowerwithrespectto9,154,276shares.Itsaddressis100E.PrattStreet,Baltimore,MD21202.(13) AccordingtotheSchedule13G/AfiledonFebruary9,2018,TheVanguardGrouphassolevotingpowerwithrespectto172,612shares,soledispositive

powerwithrespectto12,151,920shares,sharedvotingpowerwithrespectto18,092shares,andshareddispositivepowerwithrespectto177,021shares.Itsaddressis100VanguardBlvd.,Malvern,PA19355.

(14) AccordingtotheSchedule13GfiledonFebruary8,2018,WellingtonManagementGroupLLPhassharedvotingpowerwithrespectto7,780,680sharesandshareddispositivepowerwithrespectto9,213,190shares.Itsaddressis280CongressStreet,Boston,MA2210.

EQUITY COMPENSATION PLAN INFORMATION

Thefollowingtablesetsforthcertaininformation,asofDecember31,2017,withrespecttoourequitycompensationplansunderwhichourequitysecuritiesareauthorizedforissuance.

Plan Category

Number of Securities to be

Issued Upon Exercise of

Outstanding Options,

Warrants and Rights (#)

Weighted-Average Exercise Price of

Outstanding Options, Warrants

and Rights ($) (b)

Number of Securities Remaining Available for Future

Issuance Under Equity Compensation Plans

(Excluding Securities Reflected in Column (a)) (#)

Equitycompensationplansapprovedbysecurityholders 5,462,250 $2.99(1) 6,228,769

Equitycompensationplansnotapprovedbysecurityholders — — —

Total 5,462,250 $2.99(1) 6,228,769__________(1)Thisweighted-averageexercisepriceincludesoutstandingRSUsthatcanbeexercisedfornoconsideration,resultinginareducedprice.Theweighted-averageexercisepriceofoutstandingoptions,excludingthoseRSUsthatcanbeexercisedfornoconsideration,is$14.16.AtDecember31,2017,therewere756,878sharesofourcommonstocktobeissuedupontheexerciseofoutstandingoptionsandvestingofRSUsthatweassumedinconnectionwithourmergertransactionwithWRECOduringtheyearendedDecember31,2014.Theweighted-averageexercisepriceoftheseassumedoptionsandRSUswas$11.86atDecember31,2017.Theweighted-averageexercisepriceoftheseassumedoptions,excludingthoseRSUsthatcanbeexercisedfornoconsideration,was$12.57atDecember31,2017.

EXECUTIVE COMPENSATION

Fiscal 2017 Summary Compensation Table

Thefollowingtablesummarizesinformationregardingthecompensationawardedto,earnedbyorpaidtoMr.DouglasBauer,ourChiefExecutiveOfficer,Mr.ThomasMitchell,ourPresidentandChiefOperatingOfficer,Mr.MichaelGrubbs,ourChiefFinancialOfficerandTreasurer,Mr.BradleyBlank,ourformerVicePresident,GeneralCounselandSecretary,andMr.GlennJ.Keeler,ourVicePresidentandChiefAccountingOfficer,collectivelyourNEOsfor2017.

Name and PrincipalPosition Year Salary ($) Bonus ($)

Stock Awards($) (1)

OptionAwards ($)

Non-EquityIncentive Plan

Compensation ($) All Other

Compensation ($) Total ($)

DouglasF.BauerChiefExecutiveOfficer

2017 754,808 — 3,394,178 — 1,272,705(2) 29,640(3) 5,451,330

2016 673,077 — 2,455,747 — 1,108,380 29,070 4,266,274

2015 580,769 — 3,120,788 — 745,800 20,640 4,467,997

ThomasJ.Mitchell

PresidentandChiefOperatingOfficer

2017 726,154 — 3,263,624 — 1,223,439(2) 15,810(4) 5,229,027

2016 648,077 — 2,361,284 — 1,067,795 15,660 4,092,816

2015 555,769 — 2,912,740 — 714,725 7,710 4,190,944

MichaelD.Grubbs

ChiefFinancialOfficerandTreasurer

2017 586,539 — 1,566,538 — 844,560(2) 13,950(5) 3,011,587

2016 536,539 — 1,038,962 — 746,460 13,800 2,335,761

2015 490,385 — 2,080,525 — 621,500 5,850 3,198,260

BradleyW.Blank

VP–GeneralCounselOfficer

2017 403,269 — 316,851 — 360,698(2) 8,100 1,088,918

2016 375,577 — 289,996 — 351,428 7,950 1,024,951

2015 345,192 — 200,000 — 277,200 — 822,392

GlennJ.Keeler

VP–ChiefAccountingOfficer

2017 274,616 — 230,432 — 246,330(2) 8,100 759,478

2016 257,308 — 202,992 — 254,280(2) 7,950 722,530

2015 240,385 — 200,000 — 247,500 — 687,885

__________(1) InaccordancewithSECrules,theamountshownistheaggregategrantdatefairvalueforawardsgrantedduringthefiscalyearcalculatedinaccordance

withFASBASCTopic718.Thegrantdatefairvalueofperformance-basedRSUawardsisbasedontheprobableoutcomeoftheperformance-basedconditions,determinedasofthegrantdate.Themaximumpotentialpayoutfortheperformance-basedRSUawardsis200%ofthetargetawardonthegrantdate.Thetargetvaluesoftheperformance-basedRSUawardsfor2017determinedasofthedateofgrantforMessrs.Bauer,MitchellandGrubbswas$1,560,000,$1,500,000and$720,000,respectively.Noperformance-basedRSUawardsweremadein2017toMessrs.BlankorKeeler.Amountsshowndonotreflectcompensationactuallyreceivedorthatmayberealizedinthefuturebytheexecutiveofficer.Foradiscussionoftheassumptionsrelatingtothevaluationoftheawards,pleaseseeNote14.Stock-BasedCompensationtoourauditedconsolidatedfinancialstatementsincludedinourAnnualReportonForm10-KforthefiscalyearendedDecember31,2017.

(2) Representstheamountearnedunderour2017non-equity,annualcashincentivecompensationplan,asdescribedinfurtherdetailabovein"CompensationDiscussionandAnalysis."

(3) Representstheamountpaidbyusin2017forclubmembershipduesfortheNEO($18,360),contributionstodefinedcontributionplan($8,100)andthereimbursementoflifeinsurancepremiums($3,180).

(4) Representscontributionstodefinedcontributionplan($8,100)andthereimbursementoflifeinsurancepremiums($7,710)fortheNEO.(5) Representscontributionstodefinedcontributionplan($8,100)andthereimbursementoflifeinsurancepremiums($5,850)fortheNEO.

Grants of Plan-Based Awards

Estimated Possible Payouts Under Non-Equity

Incentive Plan AwardsEstimated Future Payouts Under Equity

Incentive Plan Awards

All Other StockAwards;

Number ofShares of Stock

or Units (#)

All Other OptionAwards; Number

of SecuritiesUnderlyingOptions (#)

Exercise or BasePrice of OptionAwards ($/Sh)

Grant Date FairValue of Stock

and OptionAwards(1)

Name Grant Date Threshold ($) Target ($) Maximum ($) Threshold (#) Target (#) Maximum (#) DouglasF.Bauer 2/27/2017 542,500 1,085,000 2,170,000 64,463 128,926 257,851 85,950 — N/A $3,394,178

ThomasJ.Mitchell 2/27/2017 521,500 1,043,000 2,086,000 61,983 123,967 247,933 82,644 — N/A $3,263,624

MichaelD.Grubbs 2/27/2017 360,000 720,000 1,440,000 29,752 59,504 119,008 39,669 — N/A $1,566,538

BradleyW.Blank 2/27/2017 153,750 307,500 615,000 — — — 26,186 — N/A $316,851

GlennJ.Keeler 2/27/2017 105,000 210,000 420,000 — — — 19,044 — N/A $230,432

__________(1) InaccordancewithSECrules,theamountshownistheaggregategrantdatefairvalueforawardsgrantedduringthefiscalyearcalculatedinaccordance

withFASBASCTopic718.Thegrantdatefairvalueofperformance-basedRSUawardsisbasedontheprobableoutcomeoftheperformance-basedconditions,determinedasofthegrantdate.Themaximumpotentialpayoutfortheperformance-basedRSUawardsis200%ofthetargetawardasofthegrantdate.Noperformance-basedRSUawardsweremadein2017toourMessrs.BlankorKeeler.Amountsshowndonotreflectcompensationactuallyreceivedorthatmayberealizedinthefuturebytheexecutiveofficer.Foradiscussionoftheassumptionsrelatingtothevaluationoftheawards,pleaseseeNote14.Stock-BasedCompensationtoourauditedconsolidatedfinancialstatementsincludedinourAnnualReportonForm10‑KforthefiscalyearendedDecember31,2017.

Employment Agreements and Performance-Based RSU Awards

InNovember2015,weenteredintonewemploymentagreementswitheachofMessrs.Bauer,MitchellandGrubbs.Theseemploymentagreementssupersedetheemploymentagreementspreviouslyenteredintowitheachofthesethreeexecutives.Eachemploymentagreementhasaninitialtermofthreeyearsandonthethirdanniversarydate(andeachannualanniversarydatethereafter)willbeautomaticallyextendedforoneadditionalyearunlesseitherpartyprovidestheotherwithatleast60days'priorwrittennoticeofnon-renewal.Ifa"changeincontrol"(asdefinedintheagreement)occursduringtheinitialorextendedterm,thenthetermwillcontinuefornotlessthan18monthsbeyondthemonthinwhichthechangeincontroloccurs.Bothpartieshavetherighttoterminatetheexecutive'semploymentatanytime,withorwithoutcause,andwithorwithoutpriornotice.

TheemploymentagreementswitheachofMessrs.Bauer,MitchellandGrubbsprovidethatuponterminationofemployment,eachexecutivewillreceiveanyaccruedbutunpaidbasesalaryandotheraccruedandunpaidcompensation,includinganyaccruedandunpaidvacationandannualbonus.Uponeitheran"involuntaryterminationwithoutcause"(asdefinedintheagreement)oravoluntaryterminationfora"goodreason"(asdefinedintheagreement),theexecutive,subjecttohisdeliveryofareleaseof

claims,willalsobeentitledtoreceivespecifiedseverancebenefits.Ifacoveredterminationoccurspriorto,ormorethan18monthsaftera"changeincontrol"(asdefinedintheagreement),Messrs.Bauer,MitchellandGrubbswillbeentitledtoreceiveanamountequalto2,1.5,and1.5,respectively,timesthesumofhisannualbasesalaryplustheaverageofthegreaterof(i)theaverageoftheannualcashbonusesreceivedforthetwofiscalyearsendingbeforethetermination;and(ii)thetargetannualbonusfortheyearinwhichtheterminationoccurs.Ifacoveredterminationoccursduringthe18-monthperiodcommencingonachangeincontrol,thenthemultiplierwillbe3withrespecttoMr.Bauer,and2.5withrespecttoMessrs.MitchellandGrubbs.IneithercaseandiftheexecutiveelectscontinuedhealthcarecoverageunderCOBRA,theCompanywillalsodirectlypay,orreimbursetheexecutivefor,thepremiumforhisandhiscovereddependentsthroughtheearlierof(i)the18monthanniversaryofthedateofhisterminationofemployment,and(ii)thedateheandhiscovereddependentsbecomeeligibleforhealthcarecoverageunderanotheremployer'splan(s).Intheeventthattheexecutive'semploymentisterminateddueto"deathordisability"(asdefinedintheagreement),theexecutiveorhisbeneficiariesorestatewillbeentitledtoreceiveapro-rataportionofhisannualbonusforthefiscalyear.

Theemploymentagreementsalsoprovidefor,amongotherthings:

• anannualbasesalaryequalto$600,000(Mr.Bauer);$575,000(Mr.Mitchell),and$500,000(Mr.Grubbs),subjecttoincreaseinthediscretionofourBoardofDirectorsoracommitteeofourBoardofDirectors;

• eligibilityforannualcashperformancebonusestargetedat110%oftheexecutive'sbasesalaryontermsandconditionsdeterminedbyourBoardofDirectorsoracommitteeofourBoardofDirectors;

• eligibilitytoreceivestockoptionsandotherequityincentivegrantsasdeterminedbyourBoardofDirectorsoracommitteeofourBoardofDirectors;and

• entitlementtoallrightsandbenefitstowhichtheexecutiveisentitledunderourbenefitsandcompensationpracticesthatareineffectfromtimetotimeandprovidedtoourexecutiveemployeesgenerally,aswellasbenefitsprovidedtotheexecutiveconsistentwithpastpractices;providedwearenotobligatedtoadoptormaintainanybenefitsorcompensationpracticesatanytime.

Theemploymentagreementscontainnon-competitionprovisionsandnon-solicitationprovisionsthatapplyduringthetermoftheagreementsandforoneyearaftertheterminationoftheexecutive'semploymentforanyreason.However,thepost-employmentnon-competitionprovisionsdonotapplyandwillnotbeenforcedinCaliforniaorotherstateswheresuchrestrictivecovenantsarenotpermitted.

In2017,wegranted257,851,247,933,and119,008performance-basedRSUstoMessrs.Bauer,MitchellandGrubbs,respectively.Thenumberofperformance-basedRSUsgrantedwasdeterminedbymultiplying(i)thequotientof(x)thetargetvalueoftheawardand(y)theclosingmarketpriceoftheCompany'scommonstockonthedateofgrantby(ii)two,representingthemaximumnumberofRSUsthatmayvestassumingourattainmentofthemaximumperformanceobjectivesetbytheCompensationCommittee.Foradditionaldetailsconcerningtheseperformance-basedRSUs,see"CompensationDiscussionandAnalysis—2017NEOPayProgram—Long-TermIncentives."

Potential Payments Upon Termination or Change in Control

TheemploymentagreementswitheachofMessrs.Bauer,MitchellandGrubbsprovideforcertainpaymentsuponeitherterminationofemploymentorachange-in-control,asdescribedin"—EmploymentAgreementsandPerformance-BasedRSUAwards"above.

InFebruary2016,theCompanyenteredintoseveranceandchangeincontrolprotectionagreementswitheachofMessrs.BlankandKeeler.Eachagreementhasaninitialtermofthreeyearsandonthethirdanniversarydate(andeachannualanniversarydatethereafter)willbeautomaticallyextendedforoneadditionalyearunlesseithertheexecutiveortheCompanygiveswrittennoticeofnon-renewal.Ifa"changeincontrol"(asdefinedintheagreement)occursduringtheinitialorextendedterm,thenthetermwillcontinuefornotlessthan18monthsbeyondthemonthinwhichthechangeincontroloccurs.TheseveranceandchangeincontrolprotectionagreementsshallnotbedeemedtocreateacontractofemploymentbetweentheCompanyandtheexecutive,andboththeCompanyandtheexecutivewillhavetherighttoterminatetheexecutive'semploymentatanytime,withorwithoutcause,andwithorwithoutpriornotice.

TheseveranceandchangeincontrolprotectionagreementswitheachofMessrs.BlankandKeelerprovidethatuponterminationofemployment,eachexecutivewillreceiveanyaccruedbutunpaidbasesalaryandotheraccruedandunpaidcompensation,includinganyaccruedandunpaidvacationandannualbonus.Uponeitheran"involuntaryterminationwithoutcause"(asdefinedintheagreement)oravoluntaryterminationfora"goodreason"(asdefinedintheagreement),Messrs.BlankandKeeler,subjecttohisdeliveryofareleaseofclaims,willbeentitledtoreceiveanamountequaltothesumofhisannualbasesalaryplusthegreaterof(i)theaverageoftheannualcashbonusesreceivedforthetwofiscalyearsendingbeforethetermination;and(ii)thetargetannualbonusfortheyearinwhichtheterminationoccurs.IneithercaseandiftheexecutiveelectscontinuedhealthcarecoverageunderCOBRA,theCompanywillalsodirectlypay,orreimbursetheexecutivefor,thepremiumforhisandhiscovereddependentsthroughtheearlierof(i)theoneyearanniversaryofthedateofhisterminationofemployment,and(ii)thedateheandhiscovereddependentsbecomeeligibleforhealthcarecoverageunderanotheremployer'splan(s).Intheeventthattheexecutive'semploymentisterminateddueto"deathordisability"(asdefinedintheagreement),theexecutiveorhisbeneficiariesorestatewillbeentitledtoreceiveapro-rataportionofhisannualbonusforthefiscalyear.

Our2013LTIPprovidesthatupona"changeincontrol"(asdefinedinthe2013LTIP),ourBoardofDirectorsmay,initsdiscretion,determinewhethersomeoralloutstandingoptionsandstockappreciationrightswillbecomeexercisableinfullorinpart,whethertherestrictionperiodandperformanceperiodapplicabletosomeoralloutstandingrestrictedstockawardsandRSUawardswillbedeemedsatisfied.Theperformance-basedRSUawardsgrantedtoMessrs.Bauer,MitchellandGrubbsin2017and2016includechangeincontrolprovisionsthataresummarizedasfollows:

2017 performance-based RSUs with vesting based on TSR and EPS. IntheeventachangeincontroloccursbeforeDecember31,2019,theperformanceperiodwillterminateonclosingofthechangeincontroltransactionandthefollowingprovisionswillapply:

• If(i)theclosingofthechangeincontroltransactionoccursonorbeforeJanuary1,2018,(ii)theexecutiveremainscontinuouslyemployedbyusthroughthedateoftheclosingofthechangeincontroltransaction,and(iii)theawardisnotassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateupontheclosingofthechangeincontrolorotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthe

changeincontroltransaction,50%oftheRSUsgrantedpursuanttotheawardwillvestasofthedateoftheclosingofthechangeincontrol.

• If(i)theclosingofthechangeincontroltransactionoccursonorbeforeJanuary1,2018,(ii)theexecutiveremainscontinuouslyemployedbyusthroughthedateoftheclosingofthechangeincontroltransaction,and(iii)theawardisassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateuponclosingofthechangeincontrol,orisotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthechangeincontroltransaction,50%oftheRSUsgrantedpursuanttotheawardmayvestasfollows:if(a)theexecutiveremainscontinuouslyemployedbyusoroursuccessor-in-interestoranaffiliatethroughDecember31,2019,50%oftheRSUsgrantedwillbecomefullyvestedasofDecember31,2019;or(b)iftheexecutivesuffersa"qualifyingtermination"(asdefinedintheawardagreement)beforeDecember31,2019,50%oftheRSUsgrantedwillbecomevestedontheeffectivedateofthequalifyingtermination.

• If(i)theclosingofthechangeincontroltransactionoccursafterJanuary1,2018,(ii)theexecutiveremainscontinuouslyemployedbyusthroughtheclosingofthechangeincontroltransaction,and(iii)theawardisnotassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateuponclosingofthechangeincontroltransactionorotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthechangeincontroltransaction,theRSUsgrantedpursuanttotheawardwillvestasofthedateoftheclosingofthechangeincontrol,butonlywithrespecttoanumberofRSUsequaltothe"changeincontrolunits"(asdefinedintheawardagreement).

• If(i)theclosingofthechangeincontroltransactionoccursafterJanuary1,2018,(ii)theexecutiveremainscontinuouslyemployedbyusthroughtheclosingofthechangeincontroltransaction,and(iii)theawardisassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateupontheclosing,orisotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthechangeincontroltransaction,theRSUsgrantedpursuanttotheawardmaybecomevested,butonlywithrespectanumberofRSUsequaltothechangeincontrolunits(asdefinedintheawardagreement),asfollows:if(a)theexecutiveremainscontinuouslyemployedbyusoroursuccessor-in-interestoranaffiliatethroughDecember31,2019,thechangeincontrolunitswillbecomefullyvestedasofDecember31,2019;or(b)theexecutivesuffersaqualifyingterminationbeforeDecember31,2019andtheexecutiveremainscontinuouslyemployedbyusoroursuccessor-in-interestoranaffiliatethroughthedateofthequalifyingtermination,thechangeincontrolunitswillbecomevestedontheeffectivedateofthequalifyingtermination.

2016 performance-based RSUs with vesting based on TSR. IntheeventachangeincontroloccursbeforeDecember31,2018,theperformanceperiodwillterminateonclosingofthechangeincontroltransactionandthefollowingprovisionswillapply:

• If(i)theexecutiveremainscontinuouslyemployedbyusthroughtheclosingofthechangeincontroltransaction,and(ii)theawardisnotassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateuponclosingofthechangeincontroltransactionorotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthechangeincontroltransaction,theRSUsgrantedpursuanttotheawardwillvestasofthedateoftheclosingofthechangeincontrol,butonlywithrespecttoanumberofRSUsequaltothe"changeincontrolunits"(asdefinedintheawardagreement).

• If(i)theexecutiveremainscontinuouslyemployedbyusthroughtheclosingofthechangeincontroltransaction,and(iii)theawardisassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateupontheclosing,orisotherwiseexpresslycontinuedinfullforceandeffectpursuanttothetermsofthechangeincontroltransaction,theRSUsgrantedpursuanttotheawardmaybecomevested,butonlywithrespectanumberofRSUsequaltothechangeincontrolunits(asdefinedintheawardagreement),asfollows:if(a)theexecutiveremainscontinuouslyemployedbyusoroursuccessor-in-interestoranaffiliatethroughDecember31,2018,thechangeincontrolunitswillbecomefullyvestedasofDecember31,2018;or(b)theexecutivesuffersaqualifyingterminationbeforeDecember31,2018andtheexecutiveremainscontinuouslyemployedbyusoroursuccessor-in-interestoranaffiliatethroughthedateofthequalifyingtermination,thechangeincontrolunitswillbecomevestedontheeffectivedateofthequalifyingtermination.

ThefollowingtableshowstheestimatedpotentialpaymentsuponterminationofemploymentorachangeincontrolfortheNEOs.Thetableassumesthat(i)thetriggeringeventtookplaceonDecember31,2017,thelastbusinessdayofourfiscal2017;(ii)exceptinthecaseofterminationforcausebytheCompanyandterminationbyexecutivewithoutgoodreason,ourBoardofDirectorsdeterminesthatalloutstandingoptionswouldbecomeexercisable;(iii)exceptinthecaseofterminationforcausebytheCompany,terminationbyexecutivewithoutgoodreasonanddeathordisability,ourCompensationCommitteewouldacceleratealltime-basedRSUsthatremainunvested;(iv)theintrinsicvalueofequityvestingaccelerationiscomputed,(a)inthecaseofunexercisedoptions,bymultiplyingthedifferencebetweentheexercisepricesoftheunexercisedoptionsandtheclosingmarketpriceofourcommonstockonDecember29,2017($17.92),thelasttradingdayofourfiscalyear2017,bythenumberofunexercisedoptionsand,(b)inthecaseofunvestedRSUs,bymultiplyingtheclosingmarketpriceofourcommonstockonDecember29,2017($17.92),thelasttradingdayofourfiscalyear2017,bythenumberofunvestedRSUs;(v)inthecaseofdeathordisability,aperformanceincentivebonuswasearnedunderour2017annualincentiveplanatthelevelsetforthintheSummaryCompensationtableforeachindividual;(vi)inthecaseofMessrs.Bauer,MitchellandGrubbs,theexecutiveelectstoreceivecontinuedhealthcarecoveragepursuanttotheprovisionsofCOBRAfor18monthsusingratesofapproximately$2,000permonth;(vii)inthecaseofMessrs.BlankandKeeler,theexecutiveelectstoreceivecontinuedhealthcarecoveragepursuanttotheprovisionsofCOBRAfor12monthsusingratesofapproximately$2,000permonth;and(viii)inthecaseofMessrs.Bauer,Mitchell,Grubbs,BlankandKeeler,theexecutiveremainscontinuouslyemployedbyusthroughthedateofclosingofthechangeincontroltransaction,theawardisnotassumedinfullbytheacquiringorsuccessorcompanyoritsaffiliateorotherwisecontinuedinfullforceandeffect,andthechangeincontroltransactionclosedonDecember31,2017.ThefollowingtabledoesnotincludesharesissuedtoMessrs.Bauer,MitchellandGrubbspursuanttotheperformance-basedRSUsawardedin2015asdescribedin"CompensationDiscussionandAnalysis—2015PerformanceBasedRSUs."TheCompanyandtheaffectedexecutivesmay,dependinguponthecircumstances,negotiatefordifferentpaymentsthatmaybehigherorlowerthanthosedescribedinthetable.Amountstobeprovidedtoanexecutiveunderarrangementsthatdonotdiscriminateinscope,termsoroperationinfavorofourexecutiveofficersandareavailabletoallsalariedemployeesarenotincludedinthefollowingtableinaccordancewithSECregulations.

Name Payments and Benefits

InvoluntaryTermination For

Cause or VoluntaryTermination Other

Than for GoodReason ($)

InvoluntaryTermination

Without Cause orVoluntary

Termination forGood Reason ($)

Change in ControlWithout

Termination ($)

Change in ControlWith Voluntary

Termination for GoodReason or

InvoluntaryTermination Without

Cause ($)Death or Disability

DouglasF.BauerSeverance — 3,720,000 — 5,580,000 1,272,705Equityawards — — 5,214,028 5,214,028 3,427,245

Healthbenefits — 36,000 — 36,000 —

Total — 3,756,000 5,214,028 10,830,028 4,699,950

ThomasJ.MitchellSeverance — 2,682,000 — 4,470,000 1,223,439Equityawards — — 5,018,036 5,018,036 3,250,680

Total — 2,718,000 5,018,036 9,524,036 4,474,119

MichaelD.GrubbsSeverance — 1,980,000 — 3,300,000 844,560Equityawards — — 2,452,688 2,452,688 1,877,026

Total — 2,016,000 2,452,688 5,788,688 2,721,586

BradleyW.BlankSeverance — 724,314 — 724,314 360,698Equityawards — — 879,334 879,334 —

Total — 748,314 879,334 1,627,648 360,698

GlennJ.KeelerSeverance — 530,890 — 530,890 246,330Equityawards — — 652,270 652,270 —

Total — 554,890 652,270 1,207,160 246,330

Theabovetabledoesnotgiveeffecttoperformance-basedandtime-basedRSUsawardedtoourNEOsinFebruary2018.

Theforegoingdescriptionsoftheperformance-basedRSUawards,theemploymentagreementsandtheseveranceandchangeincontrolprotectionagreementsaresummariesonlyandarenotcomplete.ThefulltextoftheseagreementsandawardagreementsareincludedasexhibitstoourcurrentreportsfiledonForm8-KwiththeSEConNovember20,2015andMarch2,2016.

Outstanding Equity Awards as of December 31, 2017

ThefollowingtableprovidesinformationregardingtheequityawardsheldbytheNEOsasofDecember31,2017.

Option Awards Stock Awards

Number ofSecurities

UnderlyingUnexercised

OptionsExercisable (#)

Number ofSecurities

UnderlyingUnexercised Options

Unexercisable (#)

OptionExercisePrice ($)

OptionExpiration

Number ofShares or Unitsof Stock That

Have NotVested (#)

Market Valueof Shares or

Units of StockThat Have Not

Vested($)

Equity IncentivePlan Awards:

Number ofUnearned Shares,

Units or OtherRights That Have

Not Vested (#)

Equity Incentive PlanAwards: Market or

Payout Value ofUnearned Shares,

Units or Other RightsThat Have Not Vested

DouglasF.Bauer 94,067(1) — 17.00 1/30/2023 52,854(2) — 16.17 4/7/2024

34,317(3) 614,961

137,268(4) 2,459,843

34,317(3) 614,961

66,095(5) 1,184,422

111,535(6) 1,998,703

85,950(7) 1,540,224

32,344(8) 579,600

129,375(8) 2,318,400

ThomasJ.Mitchell

94,067(1) — 17.00 1/30/2023 51,533(2) — 16.17 4/7/2024

32,029(3) 573,960

128,116(9) 2,295,839

32,029(3) 573,960

63,552(5) 1,138,852

107,245(6) 1,921,826

82,644(7) 1,480,980

30,992(8) 555,368

123,966(8) 2,221,471

MichaelD.Grubbs

94,067(1) — 17.00 1/30/2023 50,211(2) — 16.17 4/7/2024

22,878(3) 409,974

91,512(10) 1,639,895

22,878(3) 409,974

27,963(5) 501,097

47,188(6) 845,604

39,669(7) 710,868

14,876(8) 266,578

59,504(8) 1,066,312

BradleyW.Blank 4,454(11) 79,816

18,430(5) 330,266

26,186(7) 469,253

GlennJ.Keeler 4,454(11) 79,816

12,901(5) 231,186

19,044(7) 341,268

__________(1) 1/30/2013stockoptiongrant.(2) 4/7/2014stockoptiongrant.(3) 3/9/2015RSUawardthatvested,ifatall,on12/31/2017basedontheachievementofcertainperformancemetrics.OnFebruary15,2018,theCompensation

CommitteecertifiedtheactualperformanceachievedwithrespecttotheseRSUsanddeterminedthatnoneoftheseRSUsvestedandtheawardwasforfeitedfornovalue.

(4) 3/9/2015RSUawardthatvested,ifatall,on12/31/2017basedontheachievementofaperformancemetric.OnFebruary15,2018,theCompensationCommitteecertifiedtheactualperformanceachievedwithrespecttotheseRSUsanddeterminedthat76,115oftheseRSUsvested.

(5) 3/1/2016RSUaward;onethirdoftheawardvestedon3/1/2018andtheremainingonethirdvestson3/1/2019.(6) 3/1/2016RSUawardthatvests,ifatall,on12/31/2018basedontheachievementofaperformancemetric.(7) 2/27/2017RSUaward;onethirdoftheawardvestedon2/27/2018andonethirdvestsoneachof2/27/2019and2/27/2020,respectively.(8) 2/27/2017RSUawardthatvests,ifatall,on12/31/2019basedontheachievementofcertainperformancemetrics.(9) 3/9/2015RSUawardthatvested,ifatall,on12/31/2017basedontheachievementofaperformancemetric.OnFebruary15,2018,theCompensationCommittee

certifiedtheactualperformanceachievedwithrespecttotheseRSUsanddeterminedthat71,040oftheseRSUsvested.(10) 3/9/2015RSUawardthatvested,ifatall,on12/31/2017basedontheachievementofaperformancemetric.OnFebruary15,2018,theCompensationCommittee

certifiedtheactualperformanceachievedwithrespecttotheseRSUsanddeterminedthat50,743oftheseRSUsvested.(11) 3/5/2015RSUaward;theremainingawardvestedon3/5/2018.

Option Exercises and Stock Vested

ThefollowingtablesetsforthonanaggregatedbasisforeachoftheNEOs,thenumberandvalueofsharesofourcommonstockacquireduponexerciseofstockoptions,andthenumberandvalueofsharesofourcommonstockacquireduponvestingofRSUsduring2017.

Option Awards Stock Awards

Number of SharesAcquired on Exercise

(#) Value Realized on

Exercise ($)

Number of SharesAcquired on Vesting

(#) (1) Value Realized on

Vesting ($) (2)

DouglasF.Bauer — — 43,356 531,960ThomasJ.Mitchell — — 41,826 513,170MichaelD.Grubbs — — 23,774 290,993BradleyW.Blank — — 15,730 193,108GlennJ.Keeler — — 13,481 165,335__________(1) Representsthenetsharesacquiredafterwithholdingsharesfortaxobligations.(2) Representsthevalueoftheacquiredsharesbasedontheclosingstockpriceonthedateofvesting.

Pay Ratio Disclosure

AsrequiredbySection953(b)oftheDodd-FrankWallStreetReformandConsumerProtectionAct,andItem402(u)ofRegulationS-K,weareprovidingthefollowinginformationfor2017:

• theannualtotalcompensationofourCEO,Mr.Bauer,was$5,467,803;and

• theannualtotalcompensationofthemediancompensatedofallemployeesoftheCompany(otherthanourCEO)asofDecember31,2017(our"MedianEmployee"),was$121,115.

Basedonthisinformation,for2017theratiooftheannualtotalcompensationofourCEOtothatofourMedianEmployeewas45to1.

Forpurposesofcalculatingthepayratio,wedeterminedtheannualtotalcompensationofourCEOandourMedianEmployeeasfollows:

• AsofDecember31,2017,ouremployeepopulationconsistedof1,251individuals.

• WeidentifiedourMedianEmployeebyrankingfromlowesttohighesttheamountoftotalcashcompensationpaidtoeachoftheseemployees(otherthantheCEO)in2017.Weexcludedfromtherankingeightemployeesthatwerehiredinthelasttwoweeksof2017andreceivednocashcompensationduringtheyear.Totalcashcompensationconsistsofallwages,cashbonuspayments,andothercashpaymentsrepresentingcompensationduringtheperiod.Weannualizedthetotalcashcompensationof242full-timeandpart-timeemployeesincludedinouremployeepopulationwhowerehiredin2017butdidnotworkforustheentireyear.

• Webelievetotalcashcompensationisaconsistentlyappliedcompensationmeasurebecausewedonotwidelydistributeannualequityawardstoemployees,withonlyapproximately8%ofouremployeesreceivingannualequityawardsaspartoftheircompensationpackagein2017.

• AfteridentifyingourMedianEmployeebasedontotalcashcompensation,wecalculatedtheannualtotalcompensationofourCEOandourMedianEmployeeusingthesamemethodologythatweusetocalculatetheannualtotalcompensationofournamedexecutiveofficersassetforthintheFiscal2017SummaryCompensationTableincludedelsewhereinthisproxystatement,exceptthat,inordertobetterreflectouremployeecompensationpractices,theannualtotalcompensationforourCEOandforourMedianEmployeeincludesthedollarvalueofnon-discriminatoryhealthandwelfarebenefitcontributionsmadebytheCompany,whicharenotrequiredtobereportedascompensationforourCEOintheFiscal2017SummaryCompensationTable.ThedifferencebetweenourCEO’sannualtotalcompensationreportedinthe"Total"columnoftheFiscal2017SummaryCompensationTableandtheannualtotalcompensationsetforthaboverepresentshealthandwelfarebenefitcontributions(inanamountequalto$16,472).ThedifferencebetweenourMedianEmployee’stotalcashcompensationandannualtotalcompensationsetforthaboverepresentscontributionstoadefinedcontributionplan(inanamountequalto$2,576)andhealthandwelfarebenefitcontributions(inanamountequalto$16,472).

TheSEC’srulesforidentifyingthemediancompensatedemployeeandcalculatingthepayratiobasedonthatemployee’sannualtotalcompensationallowcompaniestoadoptavarietyofmethodologies,toapplycertainexclusions,andtomakereasonableestimatesandassumptionsthatreflecttheiremployeepopulationsandcompensationpractices.Asaresult,thepayratioreportedbyothercompaniesmaynotbecomparabletothepayratioreportedabove,asothercompanieshavedifferentemployeepopulationsandcompensationpracticesandmayutilizedifferentmethodologies,exclusions,estimatesandassumptionsincalculatingtheirownpayratios.

DIRECTOR COMPENSATION

Thefollowingtablesetsforththetotalcashandequitycompensationpaidtonon-employeedirectorsfortheirserviceonourBoardofDirectorsandcommitteesofourBoardofDirectorsduringfiscal2017:

Name Fees earned or paid in

cash ($) Stock Awards ($) (1) Total ($)

LawrenceB.Burrows 77,500 139,998 217,498DanielS.Fulton 93,500 139,998 233,498StevenJ.Gilbert 143,750 139,998 283,748ChristopherD.Graham(2) 19,000 — 19,000ConstanceB.Moore 99,500 139,998 239,498ThomasB.Rogers 100,000 139,998 239,998BarryS.Sternlicht(2) 26,250 — 26,250__________(1) TheamountsreportedinthiscolumnreflecttheaggregategrantdatefairvalueofRSUawardstoeachofthenon-employeedirectors,computedin

accordancewithFASBASCTopic718.Amountsshowndonotreflectcompensationactuallyreceivedorthatmayberealizedinthefuturebythedirectors.Foradiscussionoftheassumptionsrelatingtothevaluationoftheawards,pleaseseeNote14.StockBasedCompensationtoourauditedconsolidatedfinancialstatementsincludedinourAnnualReportonForm10‑KforthefiscalyearendedDecember31,2017.

(2) Messrs.BarryS.SternlichtandChristopherD.GrahamresignedfromourBoardofDirectorsonMarch27,2017,followingthepreviouslyannouncedsalebyVIII/TPCHoldings,L.L.C.,afundaffiliatedwithStarwoodCapitalGroup,ofitssharesofcommonstockoftheCompany.

Compensation of Non-Employee Directors

Directorswhoareemployeesdonotreceiveanycompensationfortheirservicesasdirectors.Thecashandequitycompensationthatwepaytoournon-employeedirectorsiscomprisedofthefollowing:

• anannualcashretainerof$75,000andarestrictedstockawardof$140,000(basedupontheclosingpriceonthedateofgrant);

• anadditionalannualcashretainerof$25,000totheChairoftheAuditCommitteeandanadditionalcashretainerof$16,000fortheothermembersoftheAuditCommittee;

• anadditionalannualcashretainerof$20,000totheChairoftheCompensationCommitteeandanadditionalcashretainerof$10,000fortheothermembersofsuchcommittee;

• anadditionalannualcashretainerof$15,000totheChairoftheNominatingandCorporateGovernanceCommitteeandanadditionalcashretainerof$10,000fortheothermembersofsuchcommittee;and

• anadditionalannualcashretainerof$45,000totheChairmanofourBoardofDirectors.

Wereimburseournon-employeedirectorsforreasonableout-of-pocketexpensesincurredinconnectionwiththeperformanceoftheirdutiesasdirectors,including,butnotlimitedto,travelexpensesinconnectionwiththeirattendancein-personatboardandcommitteemeetings.

Director Stock Ownership Requirement

Eachofourindependentdirectorsisrequired,withinfiveyearsofbecomingamemberofourBoardofDirectors,toownsharesofcommonstockequaltofivetimestheannualcashretainerpayabletonon-employeedirectors.

REPORT OF THE AUDIT COMMITTEE

ThisreportoftheAuditCommitteeofourBoardofDirectorsisrequiredbytheSECand,inaccordancewithSECrules,willnotbedeemedtobepartoforincorporatedbyreferencebyanygeneralstatementincorporatingbyreferencethisproxystatementintoanyfilingundertheSecuritiesActof1933,asamended(the"SecuritiesAct")ortheExchangeAct,excepttotheextentthatwespecificallyincorporatethisinformationbyreference,andwillnototherwisebedeemed"solicitingmaterial"or"filed"undereithertheSecuritiesActortheExchangeAct.

TheAuditCommitteehasreviewedanddiscussedwithmanagementourauditedfinancialstatementsforthefiscalyearendedDecember31,2017.TheAuditCommitteehasalsoreviewedanddiscussedwithErnst&YoungLLP,ourindependentregisteredpublicaccountingfirmfor2017,theauditedfinancialstatementsforthefiscalyearendedDecember31,2017.Inaddition,theAuditCommitteediscussedwithErnst&YoungLLPthosemattersrequiredtobediscussedbyAuditingStandardNo.1301:CommunicationswithAuditCommittees,asadoptedbythePublicCompanyAccountingOversightBoard("PCAOB").Additionally,Ernst&YoungLLPprovidedtotheAuditCommitteethewrittendisclosuresandtheletterrequiredbyapplicablerequirementsofPCAOBregardingErnst&YoungLLP'scommunicationswiththeAuditCommitteeconcerningindependence.TheAuditCommitteealsodiscussedwithErnst&YoungLLPtheaccountingfirm'sindependence.

Basedupontheforegoingreviewanddiscussionsdescribedinthisreport,theAuditCommitteerecommendedtoourBoardofDirectorsthattheauditedfinancialstatementsbeincludedinourForm10‑KforthefiscalyearendedDecember31,2017forfilingwiththeSEC.

Respectfullysubmittedby:

THEAUDITCOMMITTEEOFTHEBOARDOFDIRECTORS

ThomasB.Rogers,AuditCommitteeChairDanielS.FultonConstanceB.Moore

February15,2018

MANAGEMENT

Setforthbelowarethenames,agesandpositionsofTRIPointe'sexecutiveofficersasofFebruary26,2018.Eachexecutiveofficershallholdofficeuntiltheexecutiveofficer'srespectivesuccessoriselectedandqualifiedoruntiltheexecutiveofficer'searlierdeath,resignationorremoval.

Name Age Position with TRI PointeDouglasF.Bauer 56 ChiefExecutiveOfficerThomasJ.Mitchell 57 PresidentandChiefOperatingOfficerMichaelD.Grubbs 59 ChiefFinancialOfficerandTreasurerGlennJ.Keeler 41 VicePresidentandChiefAccountingOfficerDavidC.Lee 46 VicePresident,GeneralCounselandSecretary

ForbiographicalinformationforMr.DouglasF.Bauer,see"BoardofDirectors—DirectorNominees."

THOMASJ.MITCHELL.Mr.MitchellhasservedasTRIPointe'sPresidentandChiefOperatingOfficersinceJanuary30,2013.HeservedasamemberoftheboardofmanagersofTPHLLCpriortoitsconversionintoacorporation.PriortoformingTPHLLCinApril2009,from1988to2009,Mr.Mitchellservedinseveralcapacities,includingmostrecentlyExecutiveVicePresident,forWilliamLyonHomes,ahomebuildingcompanywhosecommonstockwaslistedontheNYSEfrom1999untilthecompanywastakenprivatein2006.Throughhisvariousroleswithinthatcompany,Mr.Mitchelldevelopedabroadbackgroundandexperienceinallaspectsofresidentialconstructionandlanddevelopment.Priortohis20-yeartenureatWilliamLyonHomes,Mr.MitchellspentovertwoyearswithTheIrvineCompanyintheircommunitydevelopmentgroupandovertwoyearswithPacificSavingsBank.Throughouthiscareer,Mr.Mitchellhasobtainedsignificantexperienceinlandacquisition,landentitlement,landdevelopment,projectplanning,productdesign,constructionoperations,projectandcompanyfinance,salesandmarketing,customersatisfactionandwarrantyservice.Mr.Mitchellhasmorethan30yearsofexperienceintherealestatedevelopmentandhomebuildingindustry.Hisaccomplishmentshavebeenrecognizedby,amongotherthings,himbeingawardedtheOutstandingHomeDesignandNationalHomeoftheYearawardsandbeingidentifiedbyHomeBuilderExecutiveasaTop100President.In2004,Mr.MitchellwasawardedtheBIAInlandEmpireBuilderoftheYear.Mr.MitchellreceivedhisB.A.fromCaliforniaStateUniversityofLongBeach.

MICHAELD.GRUBBS.Mr.GrubbshasservedasTRIPointe'sChiefFinancialOfficerandTreasurersinceJanuary30,2013.PriortoformingTPHLLCinApril2009,from1992to2009,Mr.Grubbsservedinseveralcapacities,includingmostrecentlytheSeniorVicePresidentandChiefFinancialOfficer,forWilliamLyonHomes,ahomebuildingcompanywhosecommonstockwaslistedontheNYSEfrom1999untilthecompanywastakenprivatein2006.Priortohis17-yeartenureatWilliamLyonHomes,Mr.GrubbsspentfiveyearsatKennethLeventhal&CompanywherehespecializedinrealestateaccountingandoverfiveyearsatJ.C.PenneyCompanyConstructionandRealEstateDivisionwhichbuiltretailfacilitiesthroughouttheWesternUnitedStates.Mr.Grubbshasmorethan30yearsofexperienceinresidentialrealestateandhomebuildingfinance.Mr.Grubbsisamember(inactive)oftheAmericanInstituteofCertifiedPublicAccountantsandtheCaliforniaSocietyofCertifiedPublicAccountants.Mr.GrubbsisalsoaformermemberoftheBoardofDirectorsforHomeAidOrangeCounty,acharitableorganizationwiththemissionofbuildingorrenovatingsheltersforthetemporarilyhomeless,whichservesindividualsandfamilieswhofindthemselveswithoutshelterduetosuchfactorsasdomesticviolence,jobloss,catastrophicillnessorcrisispregnancy.HeservedasTreasurerand

committeechairfortheFinanceFocusGroup.Mr.GrubbsreceivedhisB.A.,magnacumlaude,withhonorsfromArizonaStateUniversity.

GLENNJ.KEELER.Mr.KeelerjoinedTRIPointeinFebruary2013andcurrentlyservesasourVicePresidentandChiefAccountingOfficer.From2011until2013,heservedasCorporateControllerofSTEC,Inc.,apubliclytraded,globalproviderofenterprise-classsolidstatedrives.From2006until2011,Mr.KeelerservedasDirectorofFinanceandControllerofLantronix,Inc.,apubliclytradeddesigner,developer,marketerandsellerofnetworkingandcommunicationsproducts.Mr.KeelerspentsixyearsatErnst&YoungLLPservingclientsintherealestate,technologyandmanufacturingindustries.Mr.KeelerisaCertifiedPublicAccountant(inactive)inCaliforniaandearnedhisB.A.fromCaliforniaStateUniversityDominguezHills.

DAVIDC.LEE.Mr.LeehasservedasourVicePresident,GeneralCounselandSecretarysinceJanuary2018.From2013untiljoiningourmanagementteam,Mr.LeewasapartnerintheOrangeCountyandLosAngelesofficesofK&LGatesLLP,wherehefocusedoncapitalmarketstransactions,mergersandacquisitionsandgeneralcorporateandsecuritiesmatters.From2004to2013,Mr.LeewasacorporateandsecuritieslawyerwithGibson,Dunn&CrutcherLLP,andfrom1998to2004,Mr.LeeservedasspecialcounselintheOfficeofChiefCounselattheU.S.SecuritiesandExchangeCommission'sDivisionofCorporationFinanceandascounseltoanSECCommissioner.Mr.LeereceivedhisB.A.fromUniversityofCalifornia,Riverside,hisM.B.A.fromLoyolaMarymountUniversityandhislawdegreefromLoyolaLawSchool,LosAngeles.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section16(a)oftheExchangeActrequiresTRIPointe'sdirectorsandcertainofficers,andpersonswhoownmorethan10%ofaregisteredclassofTRIPointeequitysecurities,tofilewiththeSECinitialreportsofownershipandreportsofchangesinownershipofTRIPointecommonstockandotherequitysecurities.Certainofficers,directorsandgreater-than-ten-percentstockholdersarerequiredbySECregulationtofurnishTRIPointewithcopiesofallSection16(a)formstheyfile.ToTRIPointe'sknowledge,basedoninformationfurnishedbythesepersons,allSection16(a)filingrequirementsapplicabletoTRIPointe'sdirectors,executiveofficersandgreater-than-ten-percentstockholderswerecompliedwithonatimelybasisduringthefiscalyearendedDecember31,2017.

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

Inadditiontothecompensationdescribedinthesectionentitled"ExecutiveCompensation,"ourexecutiveofficers,directorsandotherrelatedpartieswillbeentitledtoreceive,orhavereceivedsincethebeginningofthelastfiscalyear,materialfinancialandotherbenefits,includingthefollowing:

Indemnification Agreements

Wehaveenteredintoanindemnificationagreementwitheachofourdirectorsandourcurrentexecutiveofficers.TheseagreementsrequireustoindemnifytheseindividualstothefullestextentpermittedunderDelawarelawagainstliabilitiesthatmayarisebyreasonoftheirservicetous,andtoadvanceexpensesincurredasaresultofanyproceedingagainstthemastowhichtheycouldbeindemnified.

Registration Rights Agreement and Sale of Starwood Fund Shares

OnJanuary30,2013,TRIPointeenteredintoaregistrationrightsagreementwiththeformermembersofTPHLLC,includingVIII/TPCHoldings,L.L.C.,afundaffiliatedwithtwoofourformerdirectors,Messrs.SternlichtandGrahamandathengreaterthan5%holderofourcommonstock(the"StarwoodFund"),andMessrs.Bauer,GrubbsandMitchell,withrespecttothesharesofcommonstockthattheyreceivedaspartofTRIPointe'sformationtransactions.Thesharesarereferredtocollectivelyasthe"registrableshares."AfterarequestbytheStarwoodFund,wefiledanautomaticshelfregistrationstatementonFormS‑3withrespecttothepotentialofferandsaleoftheregistrableshares.OnMarch22,2017,theStarwoodFundsoldallofitsregistrablesharesundertheshelfregistrationstatementinanunderwrittenoffering.Wedidnotreceiveanyproceedsfromthissale.

Conflicts of Interest

TRIPointehasadoptedwrittenCorporateGovernanceGuidelinesthat,amongotherthings,requiredirectorstodisclosetotheChairmanofourBoardofDirectorspersonalorbusinessintereststhatinvolveanactualorpotentialconflictofinterest.Inaddition,ourCodeofBusinessConductandEthicsrequiresthata"RelatedPersonTransaction"mustbeapprovedinadvancebyavoteofamajorityofourdisinterestedandindependentdirectors.A"RelatedPersonTransaction"meansanytransaction,arrangementorrelationshipinwhich(i)TRIPointeisaparticipant,(ii)theamountinvolvedwill,ormaybeexpectedto,exceed$120,000,and(iii)a"RelatedPerson"has,orwillhave,adirectorindirectmaterialinterest."RelatedPerson"means(i)amemberoftheBoardofDirectorsoftheCompanyandanynominee;(ii)anexecutiveofficer(asdefinedunderSecuritiesandExchangeCommissionrules)oftheCompany;(iii)anystockholderbeneficiallyowningmorethanfivepercentofanyoutstandingclassofTRIPointe'svotingsecurities;(iv)anImmediateFamilyMemberofanysuchperson,and(v)anyentityinwhichanypersonidentifiedin(i)through(iii)isemployed,orisapartnerorprincipal(orholdsasimilarposition),orisabeneficialownerofa10%orgreaterdirectorindirectequityinterest."ImmediateFamilyMember"meansanyspouse,child,stepchild,son-in-lawordaughter-in-law,parent,stepparent,mother-in-laworfather-in-law,sibling,brother-in-laworsister-in-lawofaperson,andanypersonsharingthehouseholdofsuchperson(otherthanatenantoremployee).OurChiefExecutiveOfficer,ChiefFinancialOfficerandChiefAccountingOfficer(orpersonsperformingsimilarfunctions)(collectively,"SeniorOfficers"andeacha"SeniorOfficer")mustcomplywithourCodeofEthicsforSeniorExecutiveandFinancialOfficers,whichrequiresthepriorwrittenapprovaloftheAuditCommitteebeforeaSeniorOfficermakesanyinvestment,acceptsanypositionorbenefits,participatesinanytransactionorbusinessarrangementorotherwiseactsinamannerthatcreatesorappearstocreateaconflictofinterest.Neithertheadoptionofthesepoliciesnoranycommunicationconcerningthese

policiesisintendedtoconstitutearepresentationconcerningpast,presentorfuturecompliancebythepersonssubjecttothem.Wecannotassureyouthatthesepolicieswillbesuccessfulineliminatingtheinfluenceofconflictsofinterest.ThesepoliciesmaybeamendedfromtimetotimeatthediscretionofourBoardofDirectors,withoutavoteofstockholders.

AUDIT COMMITTEE MATTERS

Independent Registered Public Accounting Firm Fees

ThefollowingtablerepresentsaggregatefeesbilledtousforthefiscalyearsendedDecember31,2017and2016byErnst&YoungLLP.AllfeesbelowwereapprovedbytheAuditCommitteeinconformitywiththeAuditCommittee'spre-approvalprocess.

Year Ended December 31,

2017 2016

AuditFees(1) $2,325,214 $2,428,461

Audit-RelatedFees(2) — 37,389

TaxFees(3) 463,328 459,830

AllOtherFees(4) 2,000 2,000

Total $2,790,542 $2,927,680__________(1) ThesearefeesforprofessionalservicesperformedbyErnst&YoungLLPfortheauditofTRIPointe'sannualfinancialstatements,consentsandcomfort

lettersandservicesthatarenormallyprovidedinconnectionwithstatutoryandregulatoryfilingsorengagements.(2) ThesearefeesforassuranceandrelatedservicesperformedbyErnst&YoungLLPthatarereasonablyrelatedtotheperformanceoftheauditorreview

ofTRIPointe'sfinancialstatements,includingconsultingonfinancialaccounting/reportingstandards.(3) ThesearefeesforprofessionalservicesperformedbyErnst&YoungLLPwithrespecttotaxcompliance,taxadviceandtaxplanning.Thisincludesthe

preparationofTRIPointe'sanditsconsolidatedsubsidiaries'originalandamendedtaxreturns,refundclaims,paymentplanning,taxauditassistanceandtaxworkstemmingfrom"Audit-Related"items.

(4) ThesearefeesforotherpermissibleworkperformedbyErnst&YoungLLPthatdoesnotmeettheabovecategorydescriptions.

Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services

TheAuditCommitteehasresponsibilityforestablishingpoliciesandproceduresforthepre-approvalofauditandnon-auditservicesrenderedbyourindependentregisteredpublicaccountingfirm,Ernst&YoungLLP.TheAuditCommitteehasthesoleauthorityandresponsibilitytoselect,appoint,evaluate,compensate,retainandoverseetheworkofanyindependentregisteredpublicaccountingfirmengagedforthepurposeofpreparingorissuinganauditreportorperformingotheraudit,revieworattestservicesforus(includingresolutionofdisagreementsbetweenmanagementandtheindependentregisteredpublicaccountingfirmregardingfinancialreporting).OurinternalauditingfunctionandtheindependentregisteredpublicaccountingfirmreportsdirectlytotheAuditCommittee.TheAuditCommitteehasthesoleauthoritytoapproveallauditengagementfeesandterms,andtheAuditCommittee,ortheChairoftheAuditCommittee,mustpre-approveanyauditandnon-auditservicesprovidedtousbytheindependentregisteredpublicaccountingfirmandthefeesandtermsthereof(providedthattheChairmaynotpre-approveservicesinexcessof$25,000andmustreportanysuchapprovaltothefullAuditCommitteeatthenextregularlyscheduledmeetingoftheAuditCommittee).

STOCKHOLDER PROPOSALS FOR 2019 ANNUAL MEETING

Stockholderswhowishtosubmitaproposaltobeconsideredforinclusioninourproxystatementandformofproxyforthe2019AnnualMeetingofStockholdersmaydosobyfollowingtheproceduressetforthinRule14a‑8undertheExchangeAct.Tobeeligibleforinclusion,proposalsmustbesubmittedinwritingandreceivedbyusonorbeforeNovember16,2018atTRIPointeGroup,Inc.,19540JamboreeRoad,Suite300,Irvine,California92612,Attention:CorporateSecretary.

AnystockholderwhointendstonominateanindividualforelectiontoourBoardofDirectorsorsubmitamatterforconsiderationatthe2019annualmeeting,otherthanbysubmittingaproposaltobeincludedinour2019proxystatement,mustgivetimelynoticeaccordingtoourBylaws.OurBylawsprovidethat,tobetimelyforsubmissiontothe2019annualmeeting,astockholder'snoticemustbemailedtoandreceivedatourprincipalexecutiveoffices,at19540JamboreeRoad,Suite300,Irvine,California92612notlessthan90daysnormorethan120dayspriortothefirstanniversaryofthedateonwhichwefirstmailedourproxymaterialsornoticeofavailabilityofproxymaterials(whicheverisearlier)forthe2018annualmeeting;provided,however,thatifthe2019annualmeetingisheldorthe2019annualmeetingdateiscalledforadatethatisnotwithin30daysfromthefirstanniversarydateofthe2018annualmeeting,thenwrittennoticebyastockholderinordertobetimelymustbereceivednoearlierthanthe120thdaybeforethedateofsuchannualmeetingandnotlaterthanthelaterofthe90thdaybeforethedateofsuchannualmeeting,asoriginallyconvened,orthecloseofbusinessonthetenthdayfollowingthedayonwhichthefirstpublicdisclosureofthedateofsuchannualmeetingwasmade.Fortheavoidanceofdoubt,ifthenoticeofproposedmatterornominatedindividualisnotreceivedduringthistime-frame,suchproposalwillbedeemeduntimelyandwillnotbeaccepted.

Foreachmatteranystockholderintendstobringbeforethe2019annualmeeting,thestockholder'snoticemustcomplywithallapplicableprovisionsofourBylaws,includingadescriptionoftheproposalorbusiness(includingthecompletetextofanyresolutionstobepresentedattheannualmeeting,and,intheeventthatsuchbusinessincludesaproposaltoamendourBylaws,thetextoftheproposedamendment),thereasonsforconductingsuchbusinessattheannualmeeting,andanymaterialinterestthestockholderhasinthatbusinessaswellasinformationregardingthestockholder,thenumberofsharesofourcommonstockthatthestockholderownsandarepresentationthatsuchstockholderintendstoappearinpersonorbyproxyattheannualmeeting.AnystockholderproposalsmustalsocomplyinallrespectswiththerulesandregulationsoftheSEC.Formoreinformation,andformoredetailedrequirements,pleaserefertoourAmendedandRestatedBylaws,filedasExhibit3.2toourCurrentReportonForm8‑K,filedwiththeSEConOctober27,2016.

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