Board Diversity

• 27% of our Directors were ethnically or gender diverse at March 24, 2022 (3 of 11), with 75% of our last four members representing this diversity.
• 82% of our Board of Directors were independent (9 of 11).
• 100% of our Board committee members are independent.
• 45% of our Directors joined in the last six years (5 of 11)
• 45% of our Directors were under 60 years old (5 of 11)

All stats as of March 24, 2022.

Board Oversight

Although Meritage’s executive management is responsible for the daily management of risk throughout the business, our Board has overall responsibility for the oversight of risk management.

• Audit Committee: responsible for reviewing and analyzing significant financial and operational risks as well as cybersecurity and data privacy management, and how our executive leaders are managing and mitigating such risks through our internal controls—all as part of monitoring our internal controls. 
• Nominating / Governance Committee: assists in identifying new Board members using a
  matrix based on diversified backgrounds and leads the Board’s governance oversight function.
• Executive Compensation Committee: oversees the compensation and incentives provided to our executive officers, with a focus on prudent and fair compensation that is commensurate with effort and achievements. 
• Environmental, Social & Sustainability (ES&S) Committee: has oversight responsibility for ESG strategy, overseeing the Company’s annual ESG Action Plan.
• Our Land Committee: reviews and approves any land acquisition above a pre-established threshold.