Current Report

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 9, 2009

KB HOME

(Exact name of registrant as specified in its charter)


Delaware	1-9195	95-3666267

(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


10990 Wilshire Boulevard, Los Angeles, California		90024

(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (310) 231-4000

Not Applicable

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 5.02.		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 9, 2009, the Company announced the appointment of Raymond P. Silcock, 58, as Executive Vice President and Chief Financial Officer. Mr. Silcock will begin his duties immediately.

From August 2007 until March 2009, Mr. Silcock served as Senior Vice President and Chief Financial Officer of UST Inc., a leading producer and marketer of smokeless tobacco products and premium wines that was acquired by Altria Group, Inc. in January 2009. From November 2006 until July 2007, Mr. Silcock served as Executive Vice President and Chief Financial Officer of Swift & Company, a leading meatpacking company that was acquired by JBS S.A. in July 2007. From 1998 to 2005, he served as Executive Vice President and Chief Financial Officer of Cott Corporation, the world’s largest private label bottler of soft drinks. Mr. Silcock earned an MBA from the Wharton School at the University of Pennsylvania and holds a U.K. certification from the Chartered Institute of Management Accountants.

Mr. Silcock will be entitled to the following compensatory arrangements, subject to the approval of the Management Development and Compensation Committee of the Company’s Board of Directors:

	•		an initial base salary of $600,000 per year;

	•		a guaranteed bonus of $200,000 for fiscal year 2009, contingent upon his continuous employment through the payment date and the Company’s ability to pay;

	•		the right to participate in the Company’s Annual Incentive Plan for Executive Officers for fiscal year 2010, with a current target opportunity of 90% of his annual base salary

	•		eligibility for participation in the Company’s long term incentive program, with a recommended initial grant of equity-based awards valued at twice his annual base salary;

	•		reimbursement of relocation expenses pursuant to the Company’s relocation policy, and up to $5,000 per month for temporary housing for up to six months;

	•		eligibility for participation in the Company’s executive benefits and life insurance programs;

	•		eligibility for participation in the Company’s Deferred Compensation Plan and 401(k) Savings Plan; and

	•		participation in the Company’s Change in Control Severance Plan and, after one year of employment, in the Company’s Executive Severance Plan.

For descriptions and copies of the plans and policies listed above, please refer to the Company’s most recent annual report on Form 10-K and proxy statement.

Effective with the appointment of Mr. Silcock, William R. Hollinger, the Company’s Senior Vice President and Chief Accounting Officer, is no longer serving as the Company’s principal financial officer, but he will continue to serve as the Company’s principal accounting officer.


Item 9.01.		Financial Statements and Exhibits

(d)

Exhibits

99.1

Press Release dated September 9, 2009.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 9, 2009


	KB Home
	By:	/s/ Wendy C. Shiba
		Wendy C. Shiba
		Executive Vice President, General Counsel and Secretary

EXHIBIT INDEX


Exhibit No.		Description

	99.1	Press release dated September 9, 2009.

Exhibit 99.1


FOR IMMEDIATE RELEASE		For more information contact:
		Heather Reeves, Media Contact 310-231-4142 or hreeves-x@kbhome.com Kelly Masuda, Investor Contact 310-893-7434 or kmasuda@kbhome.com

KB HOME NAMES RAYMOND P. SILCOCK CHIEF FINANCIAL OFFICER

LOS ANGELES (September 9, 2009) — KB Home (NYSE: KBH) today announced that Raymond P. Silcock has been named executive vice president and chief financial officer. With a career spanning three decades, Silcock, 58, brings a wealth of consumer-oriented corporate financial and strategic planning experience to KB Home, including more than ten years as a public company chief financial officer. He will report directly to KB Home president and chief executive officer Jeffrey T. Mezger.

“We are pleased to welcome Ray to KB Home,” said Mezger. “As a seasoned business strategist and financial expert, Ray’s contributions will be invaluable as we remain focused on driving results and efficiencies through our KBnxt operational business model, and returning the company to profitability.”

Silcock most recently served as senior vice president and chief financial officer for UST Inc., a leading S&P 500 consumer products company. Previously, he was executive vice president and chief financial officer of Swift & Company, one of the world’s largest privately held companies with $10 billion in annual sales. Silcock also served as executive vice president and chief financial officer of Cott Corporation, the world’s largest private label bottler of soft drinks, where he played a pivotal role in growing the U.S. business of this Canadian-based company. Earlier in his career, Silcock spent 18 years with Campbell Soup Company.

“I am excited to join the KB Home team, and to building on the sound financial strategies that are already in place,” Silcock said. “I look forward to helping KB Home become an even stronger company in the years to come.”

Silcock will work closely with senior vice president and chief accounting officer William R. Hollinger, who has been leading KB Home’s financial operations. “I would like to thank Bill for his invaluable leadership,” said Mezger. “He has been integral to creating and implementing the strategies that have successfully positioned KB Home for the future.

With these two business leaders on our team, we will continue building on our positive performance.”

Silcock earned an MBA from the Wharton School of the University of Pennsylvania. He also holds a U.K. certification from the Chartered Institute of Management Accountants.

About KB Home
KB Home, one of the nation’s leading homebuilders, has delivered hundreds of thousands of quality homes for families since its founding in 1957. The Company is distinguished by its Built to Order™ homebuilding approach that puts a custom home experience within reach of its customers at an affordable price. KB Home’s award-winning homes and communities meet the needs of first-time homebuyers with flexible designs that also appeal to move-up buyers and active adults. Los Angeles-based KB Home was named the #1 homebuilder on FORTUNE ^® magazine’s 2009 “World’s Most Admired Companies” list. This marks the second year in a row and the third time in the past four years that KB Home has achieved the top ranking. The Company trades under the ticker symbol “KBH,” and was the first homebuilder listed on the New York Stock Exchange. For more information about any of KB Home’s new home communities, call 888-KB-HOMES or visit www.kbhome.com .

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