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Departure of Directors or Certain

(e)Long-Term Incentive Awards.

On October 8, 2015, the management development and compensation committee (Committee) of the board of directors of KB Home (Company) approved grants of long-term incentive awards pursuant to the KB Home 2014 Equity Incentive Plan to Jeffrey T. Mezger, the Companys president and chief executive officer; Jeff J. Kaminski, the Companys executive vice president and chief financial officer; Brian J. Woram, the Companys executive vice president and general counsel; Albert Z. Praw, the Companys executive vice president, real estate and business development; and William R. Hollinger, the Companys senior vice president and chief accounting officer, as set forth in the table below. Long-term incentive awards were also approved for grant to certain other senior ex ecutives of the Company. The awards granted included performance-based restricted stock units, restricted stock, and stock options, as further described below.

Performance-Based Restricted Stock Units

. Each of the named executive officers received a grant of performance-based restricted stock units (each, a PSU) corresponding to a target award amount of shares of KBHome common stock (Award Shares), as shown in the table below. Each PSU grant entitles a recipient to receive between 0% to 200% of the recipients Award Shares based on the Companys achieving over the three-year performance period commencing on December 1, 2015 and ending on November 30, 2018 specified levels of (a) cumulative adjusted earnings per share; (b) average adjusted return on invested capital; and (c)revenue growth performance relative to a peer group of high-production...