AWARDS PREVIOUSLY GRANTED UNDER 2017 PLAN

As of March 14, 2019, we had granted restricted stock unit and performance share unit awards, assuming target performance, under the 2017 plan as follows:

Name and Position	Number of Shares Underlying Restricted Stock Units	Number of Shares Underlying Performance Share Units
Dale Francescon Chairman and Co-Chief Executive Officer	254,939	94,095
Robert J. Francescon President and Co-Chief Executive Officer	254,939	94,095
David L. Messenger Chief Financial Officer and Secretary	107,923	53,768
Executive Group	617,801	241,958
Non-Employee Director Group	23,340	0
All Other Employee Group	500,180	0
Total	1,141,321	241,958

BOARD RECOMMENDATION

The Board of Directors unanimously recommends that our stockholders ~~and will hold office until the next annual meeting~~vote “FOR” approval of the ~~stockholders,~~Century Communities, Inc. Amended and ~~until his or her successor is duly elected and qualified, or until his or her earlier death, resignation, removal or disqualification.~~

Vacancies and newly created directorships resulting from any increase in the authorized number of directors may be filled only by a majority of the directors then in office (although less than a quorum) or by a sole remaining director, and not by stockholders, and the directors so chosen will hold office until the next annual or special meeting of stockholders called for that purpose and until their successors are duly elected and qualified, or until their earlier resignation, removal or disqualification.

Our Board seeks to ensure that the Board is composed of members whose particular experience, qualifications, attributes and skills, when taken together, will allow our Board to satisfy its oversight responsibilities effectively. New directors are approved by our Board after recommendation by the Nominating and Corporate Governance Committee. In identifying candidates for director, the Nominating and Corporate GovernanceRestated 2017 Omnibus Incentive Plan.

The Board Recommends a Vote FOR Proposal No. 2

☑

Century Communities, Inc. – 2019 Proxy Statement 43

PROPOSAL NO. 3:
RATIFICATION OF APPOINTMENT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

APPOINTMENT

The Audit Committee and our Board take into account the following: (1) the comments and recommendations of Board members regarding the qualifications and effectiveness of the existing Board, or additional qualifications that may be required when selecting new Board members, (2) the requisite expertise and sufficiently diverse backgrounds of our Board’s overall membership composition, (3) the independence of outside directors and other possible conflicts of interest of existing and potential members of our Board, and (4) any other factors they consider appropriate.

When considering whether directors and nominees have the experience, qualifications, attributes and skills, taken as a whole, to enable our Board to satisfy its oversight responsibilities effectively in light of the Company’s business and structure, the Nominating and Corporate Governance Committee and our Board focused primarily on the information discussed in each of the directors’ individual biographies set forth above. Although diversity may be a consideration in the selection of directors, the Company and our Board do not have a formal policy with regard to the consideration of diversity in identifying director nominees.

~~Board Leadership Structure~~

Our current leadership structure permits the roles of Chairman of the Board and Co-Chief Executive Officer to be filled by the same or different individuals. Effective as of April 30, 2013, Dale Francescon assumed the role of Chairman of the Board and Co-Chief Executive Officer, with Robert J. Francescon assuming the role of

~~Co-Chief~~ Executive Officer and President. Our Board has determined this structure to be in the best interests of the Company and its stockholders at this time due to both Dale Francescon’s and Robert J. Francescon’s extensive experience with the Company and in the homebuilding industry.

~~Director Independence~~

Under the listing requirements and rules of the NYSE, independent directors must comprise a majority of a listed company’s board of directors. In addition, NYSE rules require that, subject to specified exceptions, each member of a listed company’s audit, compensation and nominating and corporate governance committees be independent. Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act and compensation committee members must satisfy heightened independence criteria set forth in NYSE rules. Under NYSE rules, a director will only qualify as an “independent director” if the company’s board of directors affirmatively determines that the director has no material relationship with the company, either directly or indirectly, that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Our Board has undertaken a review of its composition, the composition of its committees and the independence of each director. Based upon information requested from and provided by each of our directors concerning his background, employment and affiliations, including family relationships with us, our senior management andappoints our independent registered public accounting firm, ~~our Board has determined that all but two (2) of our directors, Dale Francescon and Robert J. Francescon, are~~or independent ~~directors under the standards established by the U.S. Securities and Exchange Commission (which we refer to as the “SEC”) and the NYSE.~~auditor. In ~~making~~ this determination, our Board considered the current and prior relationships that each non-employee director has with us and all other facts and circumstances our Board deemed relevant in determining their independence.

~~Board Meetings~~

Our Board held seven (7) meetings during fiscal year 2015. During fiscal year 2015, all incumbent directors attended at least 75% of the combined total of (i) all Board meetings and (ii) all meetings of committees of our Board of which the incumbent director was a member. All directors are generally expected to attend the annual meeting of stockholders.

~~Executive Sessions~~

Our non-management independent directors have the opportunity to meet in executive sessions without management to consider such matters as they deem appropriate, such as reviewing the performance of management. Executive sessions of our independent directors may be held in conjunction with each regularly scheduled Board meeting.

Our independent directors appoint an independent director (which we refer to as the “presiding independent director”) to preside over the executive sessions of the independent directors. The main duties of the presiding independent director are to (i) preside at regularly scheduled executive sessions or other meetings of the independent directors, (ii) serve as liaison between the Chairman of our Board and the Co-Chief Executive Officers of the Company, on the one hand, and the independent directors, on the other hand, by means of consulting with the Chairman of our Board and the Co-Chief Executive Officers of the Company as to agenda items for Board and committee meetings and advising them of the outcome of such meetings, as necessary, and (iii) coordinate with Board committee chairs in the development and recommendations of Board and committee meeting agendas.

~~Mr. Keith R. Guericke has been appointed by our independent directors as the presiding independent director for the 2016 fiscal year.~~

~~Committees of the Board of Directors~~

We currently have three (3) standing committees: an Audit Committee (which we refer to as the “Audit Committee”), a Compensation Committee (which we refer to as the “Compensation Committee”), and a Nominating and Corporate Governance Committee (which we refer to as the “Nominating and Corporate Governance Committee”). The charters of all three (3) of our standing Board committees are available in the “Governance Documents” section of our website.

~~Audit Committee~~

The Audit Committee is comprised of our three (3) independent directors, James M. Lippman, Keith R. Guericke, and John P. Box, each of whom is “financially literate” under the rules of the NYSE. Mr. Guericke serves as the chairperson of the Audit Committee. The Audit Committee, pursuant to its written charter, among other matters, oversees (i) our financial reporting, auditing and internal control activities; (ii) the integrity and audits of our financial statements; (iii) our compliance with legal and regulatory requirements; (iv) the qualifications and independence of our independent auditors; (v) the performance of our internal audit function and independent auditors and (vi) our overall risk exposure and management. The Audit Committee held ten (10) meetings during fiscal year 2015.

~~Duties of~~regard, the Audit Committee ~~also include:~~

~~annually review and assess the adequacy of the Audit Committee charter and the performance of the Audit Committee;~~

~~be responsible for the appointment, retention and termination of our independent auditors and determine the compensation of our independent auditors;~~

~~review with the independent auditors the plans and results of the audit engagement;~~

~~evaluate~~evaluates the qualifications, performance, and independence of our independent ~~auditors;~~

~~have sole authority~~auditor and determines whether to ~~approve in advance all audit and non-audit services by our independent auditors,~~re-engage the ~~scope and terms thereof, and the fees therefor;~~

~~review the adequacy~~current auditor. As part of ~~our internal accounting controls; and~~

~~meet at least quarterly with our executive officers, internal audit staff and our independent auditors in separate executive sessions.~~

~~Keith R. Guericke has been designated as~~its evaluation, the Audit Committee ~~financial expert, as that term is defined in~~considers, among other factors, the ~~rules~~quality and efficiency of the ~~SEC.~~

~~Compensation Committee~~

~~The Compensation Committee is comprised~~services provided by the independent auditor, including the performance, technical expertise, and industry knowledge of the lead audit partner and the audit team assigned to our account; the overall strength and reputation of the audit firm; the auditor’s national capabilities relative to our business; the auditor’s knowledge of our ~~three (3) independent directors, James M. Lippman, Keith R. Guericke,~~operations; and ~~John P. Box. Mr. Lippman serves as~~ the ~~chairperson~~auditor’s fees. Upon consideration of ~~the Compensation Committee. The Compensation Committee held six (6) meetings during fiscal year 2015.~~

~~The Compensation Committee, pursuant to its written charter, among other matters:~~

~~assists our Board in developing and evaluating potential candidates for executive officer positions and overseeing the development of executive succession plans;~~

~~administers, reviews and makes recommendations to our Board regarding our compensation plans, including our First Amended & Restated 2013 Long-Term Incentive Plan;~~

annually reviews and approves our corporate goals and objectives with respect to compensation for executive officers and, at least annually, evaluates each executive officer’s performance in light of such goals and objectives to set his or her annual compensation, including salary, bonus and equity and non-equity incentive compensation, subject to approval by our Board;

~~provides oversight of management’s decisions regarding the performance, evaluation and compensation of other officers; and~~

reviews our incentive compensation arrangements to confirm that incentive pay does not encourage unnecessary risk-taking, and reviews and discusses, at least annually, the relationship between risk management policies and practices, business strategy and our executive officers’ compensation.

~~The Compensation Committee charter also authorizes the Compensation Committee to retain independent legal~~these and other ~~advisors and consultants as it deems necessary or appropriate to carry out its responsibilities. In February 2014,~~factors, the Compensation Committee retained Compensation and Benefit Solutions, LLC (which we refer to as “CBS”) as its independent compensation consultant, and CBS acted as the Compensation Committee’s independent compensation consultant during fiscal year 2015. The Compensation Committee considers analysis and advice from CBS when making compensation decisions and when making decisions on plan design. Specifically, the Compensation Committee relies on CBS for, among other things:

~~reviewing total compensation strategy and pay levels for our executives;~~

~~performing competitive analyses of non-employee director compensation; and~~

~~examining our executive compensation programs to ensure that they support our business strategy.~~

The Compensation Committee may request information or advice directly from CBS and may direct our management to provide or solicit information from CBS. The principal consultant for CBS regularly interacts with our management. The principal consultant for CBS attended one (1) of the six (6) Compensation Committee meetings held during fiscal year 2015. CBS was paid approximately $62,000 for services rendered during 2015. During 2015, CBS did not provide any services to the Company unrelated to executive compensation, did not have any business or personal relationships with any members of the Compensation Committee, and maintained policies and procedures designed to avoid conflicts of interest.

~~Nominating and Corporate Governance Committee~~

The Nominating and Corporate Governance Committee is comprised of our three (3) independent directors, James M. Lippman, Keith R. Guericke, and John P. Box. Mr. Box serves as the chairperson of the Nominating and Corporate Governance Committee. The nominating and corporate governance held two (2) meetings during fiscal year 2015.

~~The Nominating and Corporate Governance Committee, pursuant to its written charter, among other matters:~~

identifies individuals qualified to become members of our Board, and ensures that our Board has the requisite expertise and its membership consists of persons with sufficiently diverse and independent backgrounds;

~~develops, and recommends to our Board for its approval, qualifications for director candidates, and periodically reviews these qualifications with our Board;~~

~~reviews the committee structure of our Board and recommends directors to serve as members or chairs of each committee of our Board;~~

~~reviews and recommends committee slates annually and recommends additional committee members to fill vacancies as needed;~~

develops and recommends to our Board a set of corporate governance guidelines applicable to us and, at least annually, reviews such guidelines and recommends changes to our Board for approval as necessary; and

~~oversees the annual self-evaluations of our Board and management.~~

~~Other Committees~~

~~Our Board may establish other committees as it deems necessary or appropriate from time to time.~~

~~Role of our Board of Directors in Risk Oversight~~

One of the key functions of our Board is informed oversight of our risk management process. Our Board administers this oversight function directly, with support from its three (3) standing committees (the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee), each of which will address risks specific to its respective areas of oversight. In particular, the Audit Committee will have the responsibility to consider and discuss our major financial risk exposures and the steps our management takes to monitor and control these exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. The Audit Committee will also monitor compliance with legal and regulatory requirements, in addition to oversight of the performance of our internal audit function. The Compensation Committee will assess and monitor whether any of our compensation policies and programs has the potential to encourage excessive risk-taking. The Nominating and Corporate Governance Committee will provide oversight with respect to corporate governance and ethical conduct and will monitor the effectiveness of our corporate governance guidelines, including whether such guidelines are successful in preventing illegal or improper liability-creating conduct.

~~Compensation Committee Interlocks and Insider Participation~~

During their service on the Compensation Committee, none of the members had any relationship requiring disclosure under Item 404 of Regulation S-K, and none of the members of the Compensation Committee has ever been an officer or employee of the Company or any of its subsidiaries. None of our executive officers serves, or in the past has served, as a member of the Compensation Committee, or other committee serving an equivalent function, of any entity that has one or more executive officers who serve as members of our Board or the Compensation Committee.

~~Communications with the Board of Directors~~

Any stockholder or other interested party may contact an individual director, our Board as a group, or a specified Board committee or group, including the non-management directors as a group, by sending written communication to:

~~Century Communities, Inc.~~

~~8390 East Crescent Parkway, Suite 650~~

~~Greenwood Village, Colorado 80111~~

~~Attention: Corporate Secretary~~

Management will initially receive and process communications before forwarding them to the addressee(s). We generally will not forward to the directors a communication that is primarily commercial in nature, relates to an improper or irrelevant topic, or requests general information about the Company.

~~Code of Business Conduct and Ethics~~

Our Board has adopted a code of business conduct and ethics (which we refer to as our “Code of Business Conduct and Ethics”) that applies to our officers, directors and any employees. Among other matters, our Code of Business Conduct and Ethics is designed to deter wrongdoing and to promote the following:

~~honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest;~~

~~full, fair, accurate, timely and understandable disclosure in our communications with and reports to our stockholders, including reports filed with the SEC, and other public communications;~~

~~compliance with applicable governmental laws, rules and regulations;~~

~~prompt internal reporting of violations of the code to appropriate persons identified in the code; and~~

~~accountability for adherence to our Code of Business Conduct and Ethics.~~

Any waiver of our Code of Business Conduct and Ethics for our executive officers, directors or any employees may be made only by the Nominating and Corporate Governance Committee and will be promptly disclosed as required by law and NYSE regulations.

Our Code of Business Conduct and Ethics is available in the “Governance Documents” section of our website. In addition, printed copies of our Code of Business Conduct and Ethics are available upon written request to Century Communities, Inc., 8390 East Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111, Attention: Corporate Secretary.

~~PROPOSAL NO. 2~~

~~RATIFICATION OF APPOINTMENT OF~~

~~INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM~~

~~The~~ Audit Committee has appointed Ernst & Young LLP ~~(which we refer~~(E&Y) to ~~as “E&Y”)~~serve as our independent registered public accounting firm for the fiscal year ending December 31, ~~2016, and our Board has directed that management submit~~2019.

Stockholder ratification of the ~~appointment~~selection of E&Y as our independent registered public accounting firm is not required by our Bylaws or otherwise. However, the Board is submitting the appointment of E&Y to the stockholders for ratification as a matter of corporate practice. If our stockholders fail to ratify the appointment, the Audit Committee will reconsider whether or not to retain E&Y. Even if the selection is ratified by our stockholders, the ~~stockholders~~Audit Committee, in its discretion, may direct the appointment of a different independent registered public accounting firm at any time during the ~~Annual Meeting.~~ year if the Audit Committee determines that such a change would be in the best interests of Century and our stockholders.

A representative of E&Y is expected to be present at the Annual Meeting and will have an opportunity to make a statement if he or she so desires and will be available to respond to appropriate questions.

Stockholder ratification of the selection of E&Y as our independent registered public accountants is not required by our Bylaws or otherwise. However, our Board is submitting the appointment of E&Y to the stockholders for ratification as a matter of corporate practice. If the stockholders fail to ratify the appointment, the Audit Committee will reconsider whether or not to retain E&Y. Even if the selection is ratified, the Audit Committee, in its discretion, may direct the appointment of a different independent registered public accountant at any time during the year if the Audit Committee determines that such a change would be in the Company’s and our stockholders’ best interests.

~~Board Recommendation~~

~~OUR BOARD RECOMMENDS A VOTE “FOR” THE RATIFICATION OF ERNST & YOUNG LLP~~

~~AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM~~

~~FOR THE FISCAL YEAR ENDING DECEMBER 31, 2016.~~

~~Fees Incurred for Services by Principal Accountant~~

AUDIT, AUDIT-RELATED, TAX, AND OTHER FEES

The fees billed for professional services provided by E&Y in ~~fiscal years 2015~~2018 and ~~2014~~2017 were:

Type of Fees
   2015    2014
Audit Fees
   $ 795,000       $ 1,530,000
Audit Related Fees
   0       0
Tax Fees
   110,803       56,513
All Other Fees
   4,125       0




Total Fees
   $ 909,928       $ 1,586,513

Type of Fees	2018		2017
Audit Fees	$	1,370,000	$	1,684,790
Audit-Related Fees		0		0
Tax Fees		0		0
All Other Fees		2,130		2,130
Total Fees	$	1,372,130	$	1,686,920

In the above table, in accordance with the definitions of the SEC, “Audit Fees” ~~include~~consisted of fees for the audit of our consolidated financial statements included in our ~~2015~~2018 Annual Report, ~~review~~reviews of the unaudited financial statements included in our Quarterly Reports on Form 10-Q, ~~registration statements,~~and consultation concerning financial accounting and reporting standards, as well as services normally provided in connection with statutory and regulatory filings or engagements, comfort letters, consents, and assistance with documents filed with the ~~SEC, and accounting and reporting consultation in connection with~~SEC. Audit Fees also included fees for the audit ~~and/or quarterly reviews.~~

~~Pre-Approval Policies~~of the effectiveness of our internal control over financial reporting as required by Section 404 of the Sarbanes-Oxley Act. For 2017, Audit Fees also included fees associated with our senior note and ~~Procedures~~

equity offerings and our merger with UCP. “Audit-Related Fees” consisted of fees for assurance and related services, including fees for services performed related to due diligence on acquisitions. “Tax Fees” consisted of fees billed for permissible tax consulting, planning, and compliance services. “All Other Fees” consisted of subscription fees for Internet-based professional literature.

Century Communities, Inc. – 2019 Proxy Statement 44

PRE-APPROVAL POLICIES AND PROCEDURES

The Audit Committee ~~has responsibility~~is responsible for selecting, appointing, evaluating, compensating, retaining, and overseeing the work of ~~the~~our independent registered public accounting firm. In recognition of this responsibility, the Audit Committee has established policies and procedures in its charter regarding pre-approval of any audit and non-audit service provided to ~~the Company~~Century by ~~the~~our independent registered public accounting firm and the fees and terms thereof.

Briefly, any audit or non-audit service provided to us by our independent registered public accounting firm must be pre-approved by the Audit Committee or the Chair of the Audit Committee.

The Audit Committee considered the compatibility of the provision of other services provided by ~~its registered public accountant~~E&Y with the maintenance of ~~their~~its independence. The Audit Committee approved all audit and non-audit services provided by E&Y in ~~2015~~2018 and ~~2014.~~

~~Audit Committee Report~~

2017.

AUDIT COMMITTEE REPORT

The Audit Committee issued the following report for inclusion in this ~~Proxy Statement~~proxy statement and our ~~2015~~2018 Annual ~~Report.~~

Report:

The Audit Committee has reviewed and discussed the audited consolidated financial statements for the year ended December 31, ~~2015~~2018, with management of Century Communities, Inc., and with Century Communities, Inc.’s independent registered public accounting firm, Ernst & Young LLP.

The Audit Committee has discussed with Ernst & Young LLP those matters required by ~~Statement on Auditing Standards No. 16, “Communications with Audit Committee,” as adopted by the~~ Public Company Accounting Oversight Board ~~(“PCAOB”)~~(PCAOB) Auditing Standard 1301 (Communications with Audit Committees).

The Audit Committee has received and reviewed the written disclosures and the letter from Ernst & Young LLP required by the PCAOB regarding Ernst & Young LLP’s communications with the Audit Committee concerning the accountant’s independence and has discussed with Ernst & Young LLP its independence from Century Communities, Inc., and its management.

Based on the review and discussions referenced to in paragraphs 1 through 3 above, the Audit Committee recommended to ~~our~~the Board that the audited consolidated financial statements for the year ended December 31, ~~2015~~2018, be included in the Annual Report on Form 10-K for that year for filing with the SEC.

AUDIT COMMITTEE

Keith R. Guericke, ~~Chairman~~

Chair

John P. Box

James M. Lippman

~~John P. Box~~

BOARD RECOMMENDATION

The Board of Directors unanimously recommends that our stockholders vote “FOR” ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2019.

The Board Recommends a Vote FOR Proposal No. 3

☑

Century Communities, Inc. – 2019 Proxy Statement 45

PROPO~~SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT~~

~~AND RELATED STOCKHOLDER MATTERS~~

AsSAL NO. 4:
ADVISORY VOTE ON EXECUTIVE COMPENSATION

BACKGROUND

The Board is providing our stockholders with an advisory vote on our executive compensation pursuant to the Dodd-Frank Wall Street Consumer Protection Act (Dodd-Frank Act) and Section 14A of ~~March 28, 2016, there are 21,126,214 shares of our common stock outstanding. The following table sets forth~~ the ~~beneficial ownership of our common stock~~Exchange Act. This advisory vote, commonly known as ~~of March 28, 2016 by:~~

~~each of our directors;~~

~~each of~~a say-on-pay vote, is a non-binding vote on the compensation paid to our named executive ~~officers;~~

~~all of our directors and executive~~ officers as ~~a group; and~~

~~each person or entity known by us to be the beneficial owner of 5% or more of our outstanding common stock.~~

~~To our knowledge, each person named in the table has sole voting and investment power with respect to all of the securities shown as beneficially owned by such person, except as otherwise~~ set forth in this proxy statement.

At our 2018 Annual Meeting of Stockholders, our stockholders had the ~~notes~~opportunity to ~~the table. The number of securities shown represents the number of securities the person “beneficially owns,” as determined by the rules~~vote on an advisory say-on-pay proposal and a say-on-frequency proposal. Over 92% of the SEC. The SEC has defined “beneficial” ownership of a security to mean the possession, directly or indirectly, of voting power and/or investment power. A stockholder is also deemed to be, as of any date, the beneficial owner of all securities that such stockholder has the right to acquire within sixty (60) days after that date through (i) the exercise of any option, warrant or right, (ii) the conversion of a security, (iii) the power to revoke a trust, discretionary account or similar arrangement, or (iv) the automatic termination of a trust, discretionary account or similar arrangement.

~~The percentages reflect beneficial ownership as determined~~votes cast were in ~~accordance with Rule 13d-3 under the Exchange Act and are based on 21,126,214 shares~~favor of our ~~common stock outstanding~~say-on-pay proposal and our stockholders voted overwhelmingly in favor of an annual say-on-pay vote.

In designing the compensation program for 2018, the Compensation Committee considered the results of the 2018 say-on-pay vote, our ongoing dialogue with stockholders, internal considerations such as consistency from year to year, and an evaluation of ~~March 28, 2016. Except as noted below,~~peer practices. After consideration, the ~~address~~Compensation Committee concluded that, for ~~all beneficial owners in~~2018, it was appropriate to maintain the ~~table below is 8390 East Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111.~~

Amount and Nature of Beneficial Ownership as of March 28, 2016

Name and Address of Beneficial Owner

Title / Position

Shares Owned

Percentage

Directors and Named Executive Officers:

Dale Francescon⁽¹⁾

Chairman of our Board of Directors and
    Co-Chief Executive Officer
2,983,479    14.12 %
Robert J. Francescon⁽²⁾
Co-Chief Executive Officer, President and     Director 2,883,479    13.65 %
David L. Messenger
Chief Financial Officer 156,795    *
James M. Lippman
Director 11,157    *
Keith R. Guericke
Director 11,157    *
John P. Box
Director 22,657    *
All directors and executive officers as a group (6 persons)
6,068,724    28.73 %
5% or more Stockholders:

Dale Francescon⁽¹⁾
2,983,479    14.12 %
Robert J. Francescon⁽²⁾
2,883,479    13.65 %
Capital World Investors⁽³⁾
1,716,000    8.12 %
Oaktree Value Equity Holdings, L.P., et al.⁽⁴⁾
1,469,003    6.95 %

existing compensation mix for our executives. Our 2018 compensation program continued to tie the majority of our executives’ compensation to performance metrics that support the Company’s growth strategy.

WHY YOU SHOULD VOTE IN FAVOR OF OUR SAY-ON-PAY VOTE

*	~~Represents less than 1% of the number of shares of our common stock outstanding.~~

⁽¹⁾	Includes 449,693 shares of our common stock directly owned by Dale Francescon, 158,786 restricted stock units directly owned by Dale Francescon, and 2,375,000 shares of our common stock beneficially owned through Dale Francescon’s ownership interest in DF Century, LLC, an entity controlled by him.

⁽²⁾ Includes 449,693 shares of our common stock directly owned by Robert J. Francescon, 158,786 restricted stock units directly owned by Robert J. Francescon, and 2,275,000 shares of our common stock beneficially owned through Robert J. Francescon’s ownership interest in RJF Century, LLC, an entity controlled by him.
⁽³⁾ Based on information provided in a Schedule 13G that was filed with the SEC on February 12, 2016 by Capital World Investors, a division of Capital Research and Management Company. Capital World Investors is deemed to be the beneficial owner of 1,716,000 shares of our common stock as a result of Capital Research and Management Company acting as investment adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940. Capital World Investors holds more than 5% of the outstanding shares of our common stock on behalf of its client, SMALLCAP World Fund, Inc. The address of Capital World Investors is 333 South Hope Street, Los Angeles, CA 90071.
⁽⁴⁾ Based on information provided in a Schedule 13G that was jointly filed with the SEC on February 12, 2016 by Oaktree Value Equity Holdings, L.P., Oaktree Value Equity Fund GP, L.P., Oaktree Value Equity Fund GP Ltd., Oaktree Value Equity Fund-SP, L.P., Oaktree Value Equity Fund-SP GP, L.P., Oaktree Capital Management, L.P., Oaktree Holdings, Inc., Oaktree Fund GP I, L.P., Oaktree Capital I, L.P., OCM Holdings I, LLC, Oaktree Holdings, LLC, Oaktree Capital Group, LLC, and Oaktree Capital Group Holdings GP, LLC (collectively, the “Oaktree Entities”). Aggregate beneficial ownership reported by the Oaktree Entities is based on the direct ownership of 1,469,003 shares by Oaktree Value Equity Holdings, L.P. Oaktree Value Equity Holdings, L.P. beneficially owns more than 5% of the outstanding shares of our common stock. The address of Oaktree Value Equity Holdings, L.P. is 333 S. Grand Avenue, 28th Floor, Los Angeles, CA 90071.

~~EXECUTIVE OFFICERS AND COMPENSATION~~

~~Executive Officers~~

~~The following sets forth information regarding the current~~

Our executive compensation program is generally designed to attract, retain, motivate, and reward highly qualified and talented executive officers ~~of the Company. Biographical information pertaining~~that will enable us to Dale Francescon and Robert J. Francescon, each of whom is both a director and an executive officer of the Company, may be found in the section above entitled “Proposal No. 1, Election of Directors—Information About Director Nominees.”


~~Name~~	~~Age~~	~~Position with the Company~~
~~Dale Francescon~~	63	~~Chairman of our Board of Directors and Co-Chief Executive Officer~~
~~Robert J. Francescon~~	58	~~Co-Chief Executive Officer, President and Director~~
~~David L Messenger~~	45	~~Chief Financial Officer~~

~~David L. Messenger~~. Mr. David L. Messenger serves as our Chief Financial Officer and has been employed by the Company since June 2013. Mr. Messenger has extensive experience in finance and accounting for real estate companies. His direct responsibilities are overseeing all accounting, finance, capital markets, risk management and financial planning and analysis. Prior to his tenure at the Company, Mr. Messenger was at UDR, Inc., a publicly traded multifamily real estate investment trust, from August 2002 to May 2012, most recently as Chief Financial Officer. From June 2012 to February 2013, Mr. Messenger served as an independent consultant for UDR, Inc. Mr. Messenger is licensed in the State of Virginia as a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants. Mr. Messenger received a B.B.A. and M.A. in Accounting from the University of Iowa.

~~Compensation Discussion and Analysis~~

~~Executive Summary~~

~~We believe that the primary goal of executive compensation is to align the interests~~drive long-term stockholder value. The underlying core principles of our executive ~~officers with those of our stockholders in a way~~compensation program include:

aligning the interests of our executives with those of our stockholders and linking pay to performance by providing compensation opportunities that are tied directly to the achievement of financial performance goals and long-term stock price performance;

targeting fixed compensation between the market 25^th percentile and the market median; and

targeting performance-based award levels between the 25^th percentile and the market median and setting maximum award levels at or above the market 75^th percentile, thereby emphasizing performance-based compensation elements, with superior performance resulting in above-market pay, and underwhelming performance resulting in below-market pay.

We believe this balance allows us to attract and retain the necessary executive talent while motivating and rewarding the accomplishment of annual and long-term financial performance goals and maintaining an appropriate cost structure.

Century Communities, Inc. – 2019 Proxy Statement 46

Our compensation practices include many best pay practices that support our executive ~~talent.~~ compensation objectives and principles and benefit our stockholders.

What We Do		What We Don’t Do
✓	Structure our executive officer compensation so that a significant portion of pay is at risk		No guaranteed salary increases or bonuses

✓	Emphasize long-term performance in our equity-based incentive awards		No excessive perquisites

✓	Use a mix of performance measures and caps on payouts		No repricing of stock options unless approved by stockholders

✓	Require minimum vesting periods on equity awards		No discretionary bonuses

✓	Require double-trigger for equity acceleration upon a change of control		No tax gross-ups

✓	Maintain a competitive compensation package		No excise tax gross-ups

✓	Have robust stock ownership guidelines and stock retention requirements for executive officers		No current payment of dividends on unvested awards

✓	Maintain a robust clawback policy covering cash and equity incentive compensation paid to current and former executives		No short sales or derivative transactions in Century stock, including hedges

✓	Hold an annual say-on-pay vote		No pledging of Century securities

We ~~have adopted~~encourage our stockholders to read the “Compensation Discussion and Analysis,” beginning on page 49, which describes in detail our executive compensation ~~policies~~program and the executive compensation decisions made by the Compensation Committee in 2018, as well as the accompanying executive compensation tables and narratives that provide detailed information on the compensation of our named executive officers.

We believe that our executive compensation program is competitive, focused on pay for performance, and strongly aligned with the long-term interests of our stockholders. The Compensation Committee believes that executive compensation for 2018 was reasonable, appropriate, and justified by the performance of the Company and the result of a carefully considered approach.

PROPOSED RESOLUTION

The Board recommends that our stockholders vote in favor of the say-on-pay vote as set forth in the following resolution:

RESOLVED, that our stockholders approve, on an advisory basis, the compensation paid to our named executive officers, as disclosed pursuant to the compensation disclosure rules of the SEC, including in the “Compensation Discussion and Analysis,” the accompanying compensation tables and the corresponding narrative discussion and footnotes, and any related material disclosed in this proxy statement.

Stockholders are not voting to approve or disapprove the Board’s recommendation. As this is an advisory vote, the outcome of the vote is not binding on us with respect to ~~among other things, setting base salaries, awarding bonuses and making~~ future ~~grants of equity awards~~executive compensation decisions, including those relating to our named executive ~~officers.~~officers, or otherwise. The Compensation Committee ~~has designed~~and Board expect to take into account the outcome of the vote when considering future executive compensation decisions.

Century Communities, Inc. – 2019 Proxy Statement 47

NEXT SAY-ON-PAY VOTE

Consistent with the results from last year’s advisory vote on the frequency of the say-on-pay vote, the Board determined that we will conduct a say-on-pay vote on an annual basis. Accordingly, the next say-on-pay vote will occur at our 2020 Annual Meeting of Stockholders.

BOARD RECOMMENDATION

The Board of Directors unanimously recommends that our stockholders vote “FOR” approval, on an advisory basis, of our executive compensation, ~~program that is intended to reward favorable stockholder returns, stock appreciation,~~or say-on-pay vote.

The Board Recommends a Vote FOR Proposal No. 4

☑

Century Communities, Inc. – 2019 Proxy Statement 48

COMPENSATION DISCUSSION AND ANALYSIS

INTRODUCTION

This Compensation Discussion and Analysis (CD&A) addresses the ~~Company’s competitive position within the homebuilding industry~~principles underlying our policies and ~~each executive officer’s long-term career contributions~~decisions with respect to the ~~Company.~~

~~The~~ compensation ~~components designed~~of our executive officers who are named in the “Summary Compensation Table” and material factors relevant to ~~further~~ these ~~goals take~~policies and decisions. This CD&A should be read together with the ~~form~~related tables and disclosures that follow.

Our named executive officers for the year ended December 31, 2018 are set forth below. We sometimes refer to these individuals collectively are our named executive officers or “NEOs,” our Co-Chief Executive Officers collectively as our “Co-CEOs” and individually as our “Co-CEO” and our Chief Financial Officer as our “CFO.”

Named Executive Officer	Title
Dale Francescon	Chairman of the Board and Co-Chief Executive Officer
Robert J. Francescon	Co-Chief Executive Officer and President
David L. Messenger	Chief Financial Officer and Secretary

EXECUTIVE SUMMARY

Who We Are

Century Communities, Inc. is a top 10 national U.S. homebuilder. We are engaged in the development, design, construction, marketing and sale of ~~base salary, annual cash incentive compensation, as well as long-term equity incentives measured by Company and/or individual performance targets as established by~~single-family attached and detached homes in 15 states across the ~~Compensation Committee.~~

~~The following are~~West, Mountain, Texas and Southeast U.S. regions. We market and sell homes under both the Century Communities and Wade Jurney Homes brands. We also offer title, insurance, and lending services in select markets.

Century Communities, Inc. – 2019 Proxy Statement 49

Fiscal 2018 Business Highlights

Highlights of our financial, operational and strategic achievements for 2018, which drove our 2018 executive pay decisions, are set forth below. Some of these highlights include non-GAAP financial ~~highlights~~measures, the calculation of which are described in Annex I to this proxy statement.

FINANCIAL

$2.1 billion	Revenue Achieved $2.1 billion in home sales revenues, a 51% é year-over-year, and exceeded targeted revenue, excluding acquisitions, by over 19%
$119.9 million	Adjusted Net Income Achieved a record $119.9 million, or $3.94 per share, a 69%é year-over-year
$227.9 million	Adjusted EBITDA Achieved $227.9 million in adjusted EBITDA, a 51%é year-over-year, and exceeded targeted adjusted EBITDA, excluding incremental EBITDA as a result of acquisitions, transaction expenses and bonuses, by over 12%
$387.5 million	Credit Facility Availability Strengthened balance sheet and created flexibility with increased availability

OPERATIONAL

6,099	Home Deliveries Achieved 6,099 home deliveries, a 68%é year-over-year, and exceeded targeted home deliveries, excluding acquisitions, by over 34%
5,657	Net New Home Contracts Achieved 5,657 net new home contracts, a 48%é year-over-year
2,181 homes $669.5 million	Backlog Backlog é65% to 2,181 homes, with value of $669.5 million, a 17% é over end of prior year
37,919	Lots Owned and Controlled Ended the year with 37,919 owned and controlled lots, a 23% é over the end of the prior year

STRATEGIC

✓	Increased Focus on Entry Level Price Point Reduced average sales price of homes delivered and in backlog to $345,968 and $306,981, respectively
✓	Completed Acquisition of Wade Jurney Homes Bolstered our offering of homes for first time buyers, strengthened our presence in the Southeast United States, and moved into the ranks of the Top 10 U.S. homebuilders based on combined closings
✓	Completed Integration of UCP, Inc.
✓	Accelerated Financial Services Business Achieved revenue of $41.7 million and pre-tax income of $8.8 million, compared to $9.8 million and $1.2 million, respectively, in prior year

Century Communities, Inc. – 2019 Proxy Statement 50

Fiscal 2018 Compensation Actions and Outcomes

One of our key executive compensation objectives is to link pay to performance by aligning the financial interests of our executives with those of our stockholders and by emphasizing pay for ~~2015:~~

~~The Company far exceeded~~performance in our compensation programs. 2018 compensation actions and incentive plan outcomes based on the budgeted number of closings for 2015. The Company’s projections targeted 2,000 closings, while the Company achieved 2,401 closings in 2015—exceeding projections by 20%. Additionally, year-over-year closings increased by approximately 130% from 1,046 closings in 2014.performance described above are summarized below:

The Company exceeded targeted revenue by 13%; targeted revenue was $650 million while actual revenue achieved was $734.5 million. This represented an increase of approximately 103% from 2014 revenue of $362.4 million.

Pay Element	2018 Actions
Base Salary	·Our Co-CEOs received no base salary increases. ·Our CFO received a base salary increase of 15.8% to align to our target positioning in our peer group.
Short-Term Incentive	·The target short-term incentive (STI) award opportunity for each of our Co-CEOs was increased from 150% to 175% of base salary to align with our target positioning and remained at 100% of base salary for our CFO. ·Performance metrics were revenue (40%), EBITDA, as adjusted (40%), and closings (20%), in each case adjusted to exclude acquisitions, for our Co-CEOs, and revenue (30%), EBITDA as adjusted (30%), closings (15%), and individual goals (25%) for our CFO. ·Payouts were between the target and maximum payout level, based on fiscal 2018 performance:

The Company exceeded projected EBITDA by 25.7%; targeted EBITDA was $63 million vs. actual EBITDA of $79.2 million. Actual EBITDA increased by approximately 90% over the prior year EBITDA of $41.7 million.

Metric*	Target	Maximum	Actual*
Revenue	$1.81 bil.	$1.99 bil.	$ 1.91 bil.
EBITDA, as adjusted	$172.4 mil.	$189.6 mil.	$ 193.4 mil.
Closings	4,556	5,012	4,722

~~Compensation Philosophy~~

*Adjusted to exclude acquisitions
Long-Term Incentives
·The target long-term incentive (LTI) award opportunity for 2018 for each of our Co-CEOs was 250% of base salary and 220% of base salary for our CFO.
·The 2018 LTI program consisted of 60% performance share unit (PSU) awards and 40% time-vested restricted stock unit (RSU) awards. The PSU awards vest and are paid out in shares of our common stock upon the achievement of a threshold three-year (2018-2020) cumulative adjusted pre-tax income goal and will be subject to a one-year mandatory holding period. The RSU awards vest in three equal annual installments.
·Our NEOs also received an RSU award in February 2018 as a payout under a prior year LTI program based primarily on the achievement of a previously established adjusted multi-year pre-tax income performance goal. Because the structure of our programs changed, the grant of these awards was deemed to occur in 2018 (not at the earlier time when the performance metric was set), which resulted in a substantial increase in reported equity-based compensation for our NEOs in 2018 compared to 2017, even though the NEOs’ actual year-over-year compensation did not materially increase.
·The February 2018 RSU award grant was based on the achievement, at maximum with kicker payout level, of an adjusted pre-tax income goal for the two-year period ended December 31 2017.

	Metric		Target		Maximum		Maximum with Kicker		Actual
	Adjusted pre-tax income		$142.8 mil.		$159.9 mil.		$178.5 mil.		$196.1 mil.

Century Communities, Inc. – 2019 Proxy Statement 51

Pay Element	2018 Actions
	·Similarly, in February 2019, our NEOs received an RSU award as a payout under a prior year LTI program based primarily on the achievement, at maximum with kicker payout level, of an adjusted pre-tax income goal for the three-year period ended December 31, 2018.

	Metric		Target		Maximum		Maximum with Kicker		Actual
	Adjusted pre-tax income		$225.1 mil.		$247.6 mil.		$281.4 mil.		$369.1 mil.

Other Compensation Related Actions

·Over 92% of votes cast at our 2018 Annual Meeting of Stockholders were in favor of our annual say-on-pay vote.

·In October 2018, we entered into amended and restated employment agreements with our Co-CEOs.

·In November 2018, we adopted a robust clawback policy covering cash and equity incentive compensation paid to current and former executives.

COMPENSATION HIGHLIGHTS AND BEST PRACTICES

Our compensation practices include many best pay practices that support our executive compensation objectives and principles, and benefit our stockholders.

	What We Do	What We Don’t Do
✓	Structure our executive officer compensation so that a significant portion of pay is at risk	No guaranteed salary increases or bonuses
✓	Emphasize long-term performance in our equity-based incentive awards	No excessive perquisites
✓	Use a mix of performance measures and caps on payouts	No repricing of stock options unless approved by stockholders
✓	Maintain a robust clawback policy covering cash and equity incentive compensation paid to current and former executives	No discretionary bonuses
✓	Require double-trigger for equity acceleration upon a change of control	No tax gross-ups
✓	Maintain a competitive compensation package	No excise tax gross-ups
✓	Have robust stock ownership guidelines and stock retention requirements for executive officers	No pledging of Century securities
✓	Require minimum vesting periods on equity awards	No short sales or derivative transactions in Century stock, including hedges
✓	Hold an annual say-on-pay vote	No current payment of dividends on unvested awards

Century Communities, Inc. – 2019 Proxy Statement 52

COMPENSATION PHILOSOPHY

Given the small size of ~~the Company’s current~~Century’s executive team, each ~~Executive~~executive has assumed responsibilities beyond what is generally found for similar executives in comparable companies. Many of these additional responsibilities directly impact the growth of ~~the Company.~~Century. Further, ~~the Company~~Century emphasizes performance-based compensation elements, with superior performance resulting in ~~above market~~above-market pay, and underwhelming performance resulting in below-market pay.

As such, the Compensation Committee has determined that fixed compensation ~~(i.e.~~(i.e., base salary) should be targeted at ~~approximately~~ the market median, with performance-based incentive compensation opportunities resulting in total direct compensation that ranges from well below the market median to the top quartile of the market (based on performance). The Compensation Committee has determined that target award levels will align total direct compensation ~~with approximately~~at the market median, and maximum award levels, if earned, will align total direct compensation ~~with approximately~~at or above the market 75th percentile.

~~Competitive Considerations~~

COMPETITIVE CONSIDERATIONS AND USE OF MARKET DATA

We strive to compensate our executive officers competitively relative to industry peers. To ensure reasonableness and competitiveness of ~~the Company’s~~our executive compensation ~~package~~packages relative to the industry, the Compensation Committee regularly evaluates ~~the Company’s~~our peer group with the aid of ~~CBS,~~our independent external compensation consultant and with input from management. Data from ~~the Company’s~~our peer group, therefore, is ~~therefore~~ considered in the compensation benchmarking process as one input in helping to determine appropriate pay levels.

In establishing compatibility between ~~the Company~~Century and the members of ~~the~~our peer group, the following three factors are considered:

~~Industry~~

Industry

Revenue

Market Capitalization

~~Geographic Location~~

~~Revenue~~

~~Total Assets~~

~~Market Capitalization~~

Based on these considerations, the following 11 companies in the “homebuilding” industry were selected as ~~the Company’s~~members of our peer group for ~~2015 in~~purposes of analyzing the market competitiveness of ~~the Company’s~~our 2018 executive compensation ~~programs.~~

program.


AV Homes Inc.	LGI Homes, Inc.	Taylor Morrison Home Corporation
Beazer Homes USA, Inc.	M.D.C. Holdings, Inc.		~~The St. Joe Company~~
~~Howard Hughes Corp.~~		~~Meritage Homes Corp~~		~~Tri~~TRI Pointe ~~Homes~~Group, Inc.
~~KB Home~~		~~Stratus Properties~~Hovnanian Enterprises, Inc.	M/I Homes, Inc.	William Lyon Homes
KB Home	Meritage Homes Corporation

~~While~~

All of these companies are public companies in the ~~Company is below certain~~homebuilding industry whose business model involves development, design, construction of ~~the selected peers in terms~~homes and/or development of land and that have annual revenues and a market capitalization ~~revenue~~generally within a range of our annual revenues and ~~assets,~~market capitalization. We rank at the 42^nd percentile of our peer group was selected in order to approximate where the Company reasonably expects to be in the near term, while including companies that have experienced similar growth. Further, while the Company ranks at approximately the 34for revenue, 47^th percentile for projected 2019 revenue ~~amongst~~and 31^st percentile for market capitalization. In constructing this peer group, the Compensation Committee also considered whether companies disclosed Century as a peer, companies that appear in the peer ~~group~~groups of our peer companies and companies of which Institutional Shareholder Services (ISS) considers a peer of ours in its latest voting recommendations report.

Century Communities, Inc. – 2019 Proxy Statement 53

SAY-ON-PAY VOTE

At our 2018 Annual Meeting of Stockholders, our stockholders had the opportunity to vote on an advisory say-on-pay proposal and a say-on-frequency proposal. Over 92% of the votes cast were in favor of our say-on-pay proposal and our stockholders were overwhelmingly in favor of an annual say-on-pay vote.

In designing the compensation program for 2018, the Compensation Committee considered the results of the 2018 say-on-pay vote, our ongoing dialogue with stockholders and investors, internal considerations such as consistency from year to year and an evaluation of peer practices. After consideration, the Compensation Committee concluded that, for 2018, it was appropriate to maintain the existing compensation mix for our NEOs. Our 2018 compensation program continued to tie the majority of our NEOs’ compensation to performance metrics that support the Company’s growth strategy.

STOCKHOLDER ENGAGEMENT

While the Board is encouraged by the results of our 2018 say-on-pay vote where the vast majority of our stockholders supported our compensation program design, the Board nonetheless continued to seek stockholder feedback throughout 2018. Over the course of the year, our executives held more than 200 meetings with stockholders representing over 70 percent of shares outstanding, in total, including all of our top 10 shareholders that are actively managed funds. Members of management participated in each meeting. One of the objectives of these engagement sessions was to solicit feedback on aspects of our executive compensation program. Stockholder feedback was relayed directly to the Compensation Committee and full Board, which considered that feedback while evaluating opportunities to further enhance our executive compensation programs.

ELEMENTS OF OUR EXECUTIVE COMPENSATION PROGRAM

During 2018, our executive compensation program consisted of several key elements as described in the ~~bottom quartile~~table below, as well as key characteristics of, and purpose for, ~~market capitalization, the Company ranks 2~~^nd among the peer group companies for 1-year Total Shareholder Return (which we refer to as “TSR”) (3-year and 5-year TSR comparisons are not available as the Company has not been publicly traded for the requisite length of time for those measurements). Given the Company’s current position relative to the peer group and the projected growth of the Company, we believe that the selected peer group is appropriate for purposes of benchmarking compensation.

~~Named Executive Officer Compensation~~

Our named executive officers (which we refer to as our “NEOs”) for fiscal year 2015 were Dale Francescon, our Co-Chief Executive Officer (which we refer to as our “Co-CEO”), Robert J. Francescon, our Co-CEO, and David L. Messenger, our Chief Financial Officer (which we refer to as our “CFO”).each element. The following ~~is a summary~~table also describes any key 2018 changes to each of ~~the elements~~these elements.

Element	Key Characteristics	Purpose	Key 2018 Changes
Base Salary (Fixed, Cash)	A fixed amount, paid in cash periodically throughout the year and reviewed annually and, if appropriate, adjusted.	Provides a source of fixed income that is market competitive and reflects scope and responsibility of the position held.	No base salary increases for our Co-CEOs. Base salary increase of 15.8% for our CFO to align with our target positioning.
Short-Term Incentive (STI) (Variable, Cash)	A variable, short-term element of compensation that is payable in cash based on achievement of key pre-established annual corporate financial goals, and for our CFO, individual goals.	Motivates and rewards our executives for achievement of annual financial and other goals intended to achieve our annual business plan objectives.	The target STI award opportunity for each of our Co-CEOs was increased from 150% to 175% of base salary to align with our target positioning and remained at 100% for our CFO. 2018 performance metrics for our Co-CEOs were the same as 2017 and the same for our CFO. Our CFO also had individual performance metrics. Payouts were between the target and maximum payout levels, based on fiscal 2018 performance.

Century Communities, Inc. – 2019 Proxy Statement 54

Element	Key Characteristics	Purpose	Key 2018 Changes
Long-Term Incentives (LTI) (Variable, Restricted Stock Unit and Performance Share Unit Awards)	A variable, long-term element of compensation that is provided 60% in the form of PSU awards and 40% in the form of time-vested RSU awards.	Aligns the interests of our executives with our stockholders; encourages our executives to focus on long-term company financial performance measures that are deemed strategically and operationally important to our Company; promotes retention of our executives; and encourages significant ownership of our common stock.	The target LTI award opportunity for each of our Co-CEOs was 250% of base salary (up from 150% last year) and 220% of base salary (up from 100% last year) for our CFO. We changed our LTI program in 2018 to consist of 60% PSU awards and 40% time-vested RSU awards. The PSU awards vest and are paid out in shares of our common stock upon the achievement of a threshold three-year (2018-2020) cumulative adjusted pre-tax income goal and will be subject to a one-year mandatory holding period. The RSU awards vest in three equal annual installments. The use of PSU awards led to a change in the accounting for our LTI program in 2018, resulting in a substantial increase in reported equity-based compensation for our NEOs in 2018 compared to 2017, even though the NEOs’ actual year-over-year compensation did not materially increase. Due to the accounting change, our reported numbers in 2018 reflect grants for two years, and payouts in RSUs related to 2016 LTI grants.
Perquisites	Includes an automobile and cell phone allowance, term life insurance, and aircraft time sharing arrangements.	Assists in allowing our executives to more efficiently utilize their time and support them in effectively contributing to our Company success.	No significant changes, except entered into aircraft time sharing agreements with our NEOs.
Retirement Benefits	Includes a defined contribution retirement plan with a discretionary Company match.	Provides an opportunity for employees to save and prepare financially for retirement.	No significant changes.

We describe each key element of our executive compensation ~~arrangements~~program in more detail in the following pages, along with the compensation decisions made in 2018. The compensation paid to our NEOs is governed, in part, by written employment agreements with them, which are described below under “Executive Compensation—Employment and Other Agreements.”

Century Communities, Inc. – 2019 Proxy Statement 55

PAY FOR PERFORMANCE AND PAY MIX

We seek to motivate management to achieve improved financial performance of our Company through incentive plans that reward higher performance with increased incentive payouts and hold management accountable for ~~fiscal year 2015, as well as a summary of the elements to be paid to our NEOs for fiscal year 2016.~~

Infinancial performance that falls below targeted levels by paying reduced or no incentive payouts. Accordingly, in general, our executive compensation program emphasizes variable, at-risk, pay elements as a significant portion of each NEO’s total compensation package. ~~For 2015, the~~

The breakdown of variable, at-risk, pay (broken out between target annual short-term incentives and long-term incentives) compared to fixed pay ~~(i.e.~~(i.e., base salary) reported for 2018 in the Summary Compensation Table for our Co-CEOs and CFO is as follows:

~~The composition of the 2015 total compensation for the Co-CEOs and CFO is as follows:~~

~~Annual~~

NAMED EXECUTIVE OFFICER COMPENSATION

Base Salary

Purpose: Base salary is designed to compensate our NEOs at a fixed level of compensation that provides some financial certainty and security for our NEOs, and also serves as a retention tool throughout the executive’s career.

Competitive Positioning: In ~~determining~~setting base salaries, the Compensation Committee considers many ~~things,~~factors, including each executive’s roles and responsibilities, unique skills, future potential with ~~the Company,~~Century, salary levels for similar positions in our market and internal pay equity.

While a Co-CEO executive structure is not commonly found in the marketplace, we believe our leadership structure is appropriate in light of our historical growth and expected future development. Further, the small number of executive officers at Century and the absence of other leadership positions within ~~the Company’s~~Century’s executive team, such as a Chief Operating Officer, that are otherwise generally found on the leadership teams of other companies, requires our executives to perform multiple roles and take on additional responsibilities that would otherwise not be required of ~~CEOs.~~CEOs and CFOs. As such, when determining compensation amounts for the year, the Compensation Committee takes into account these factors and the fact that ~~the Company~~Century has two Co-CEOs who each perform a broad range of duties which would generally be spread over a number of executive positions as described above.

~~For 2014,~~

Century Communities, Inc. – 2019 Proxy Statement 56

Our goal is to target the market median as our strategic target for base salary. We review each executive’s base salary and performance every year to determine whether base salary should be adjusted. Along with individual performance, we also consider movement of salary in the market, as well as our financial results from the prior year to determine appropriate salary adjustments. Under their employment agreements, the base salaries of our Co-CEOs may not be adjusted downward.

While the Compensation Committee ~~determined that~~applies general compensation concepts when determining the competitiveness of our ~~Co-CEOs’~~executives’ salaries, the Compensation Committee generally considers base salaries as ~~well as that~~being competitive when they are within approximately 10% of ~~our CFO, were below~~the stated market and therefore determined that an increase was warranted. Because the Company seeks to align fixed compensation with approximately the market median, while providing opportunities for additional compensation through its incentive compensation plans, for 2014, the Compensation Committee set the base salary of our Co-CEOs at $750,000 each, which was approximately the market median, and set the base salary of our CFO at $400,000, which was also approximately the market median.

target.

2018 Review: The Compensation Committee reevaluated NEO compensation relative to the market data in early ~~2015~~2018 and determined ~~that~~to maintain the base salaries of our ~~NEOs for 2015 remained consistent with~~Co-CEOs, but increase the ~~Company’s market, except for the 2015~~ base salary of our CFO ~~which~~to bring his salary closer to the market median. The CFOs salary increase was ~~slightly below market. As such, no base salary adjustments were made for our Co-CEOs~~effective in ~~2015, while~~April 2018.

Named Executive Officer	2017 Base Salary ($)	2018 Base Salary ($)	Change (%)
Dale Francescon	850,000	850,000	0.0%
Robert J. Francescon	850,000	850,000	0.0%
David L. Messenger	475,000	550,000	15.8%

Short-Term Incentive – Annual Cash Bonus

Purpose: Our short-term incentive, or annual cash bonus program, is designed to reward the ~~base salary for our CFO was increased by $25,000 to $425,000 for 2015. Base salaries~~achievement of ~~our NEOs for 2014~~specific annual financial and ~~2015 are reflected in the following table:~~

Named Executive Officer
   2014 Base Salary    2015 Base Salary    Change (%)
Dale Francescon
   $ 750,000       $ 750,000       0.0 %
Robert J. Francescon
   $ 750,000       $ 750,000       0.0 %
David L. Messenger
   $ 400,000       $ 425,000       6.25 %

~~Short-Term Incentive—Cash Bonus (which we refer to as “STI”)~~

operational objectives. Annual cash bonuses are designed to incentivize our NEOs at a variable level of compensation based on ~~the Company’s~~Century’s performance, as well as, in the ~~individual’s~~case of our CFO, individual performance. ~~In connection with~~

Competitive Positioning: Our strategy is to target between the market 25^th percentile and market median for short-term incentives for performance that meets expected levels and to target total cash compensation (base salary plus target STI) between the market 25^th percentile and market median. We have established a range of possible payouts under the plan so that our ~~annual cash bonus program,~~competitive position could be above or below our stated strategy based on performance outcomes.

2018 STI Awards: For 2018, the threshold, target and maximum STI opportunities for our NEOs were as follows:

Named Executive Officer	Threshold	Target	Maximum
Dale Francescon	50% of target	175% of base salary	200% of target
Robert J. Francescon	50% of target	175% of base salary	200% of target
David L. Messenger	50% of target	100% of base salary	200% of target

The Compensation Committee determines annual performance criteria that are flexible and that change with the needs of our business. Our annual cash bonus program is designed to reward the achievement of specific financial and operational objectives.

~~Co-CEOs~~

For fiscal year 2015, Dale Francescon’s and Robert J. Francescon’s bonuses were calculated pursuant to formulas detailed in their respective employment agreements and based on the satisfaction and performance of the following goals established by the compensation committee. Despite maximum performance, the bonuses earned by our Co-CEOs in 2013 were determined to ~~be significantly below~~increase the ~~market median. Accordingly, for 2014, the Compensation Committee recommended an increase in the bonus~~target STI award ~~opportunities~~opportunity for each of our ~~Co-CEOs. The Compensation Committee established target STI awards equal~~Co-CEOs from 150% to ~~150%~~175% of base salary to align with ~~a maximum~~our target positioning. The target STI award opportunity ~~of 200% of target (i.e., 300% of base salary) and a threshold award level of 66.67% of target (i.e.,~~for our CFO remained at 100% of base ~~salary). Following the review of 2014 compensation conducted in early 2015, the Compensation Committee determined~~salary.

Century Communities, Inc. – 2019 Proxy Statement 57

The performance metrics that ~~the short-term incentive award levels~~applied for the ~~Co-CEOs be maintained~~2018 STI plan are described in ~~2015.~~

~~For 2015,~~ the ~~Compensation Committee, in~~table below and are adjusted to exclude acquisitions.

Named Executive Officer	2018 Performance Metrics
Co-CEOs	40% revenue 40% EBITDA, as adjusted 20% closings
CFO	30% revenue 30% EBITDA, as adjusted 15% closings 25% individual performance goals: development and management of financial services earnings and management of audit and internal audit processes

In considering the performance metrics that should apply in calculating our Co-CEOs’ ~~short-term incentive~~STI awards, the Compensation Committee determined that the performance metrics should ~~continue to~~ be based on overall Company performance as opposed to individual performance. The Compensation Committee furthermore determined that the most important measures of Company success, which should form the basis of our Co-CEOs’ ~~annual bonus,~~STI awards, were revenue, EBITDA, as adjusted, and number of ~~closings,~~closings. In considering the performance metrics that should apply in calculating our CFO’s STI award, the Compensation Committee determined that his STI award should be based, in part, on the same Company performance metrics as our Co-CEOs to align the entire executive team, as well as individual performance goals. In 2017, our CFO’s performance metrics were revenue and ~~EBITDA.~~ individual performance goals.

The Compensation Committee then set the target for each measure using the Company’s projected business plan for 2015 (i.e., as the amount in the target business plan presented to our Board). Threshold was set at 85% of target, and maximum was set at 115% of target.

All performance metrics are equally weighted in determining our Co-CEOs’ annual bonuses. If threshold level is not achieved with respect to a given performance metric, then no payout is made with respect to that metric.

~~The~~Company financial performance metrics, and the performance levels attached to each, as well as actual performance, are reflected in the following table.

Performance Measure
   Threshold    Target    Maximum    Actual
Closings
   1,700       2,000       2,300       2,401
Revenue
   $ 552.5 million       $ 650.0 million       $ 747.5 million       $ 734.5 million
EBITDA⁽¹⁾
   $ 53.6 million       $ 63.0 million       $ 72.5 million       $ 79.2 million

Company Performance Metric*	Threshold		Target		Maximum		Actual*
Revenue	$	1.63 billion	$	1.81 billion	$	1.99 billion	$	1.91 billion
EBITDA, as adjusted⁽¹⁾	$	155.2 million	$	172.4 million	$	189.6 million	$	193.4 million
Closings		4,100		4,556		5,012		4,722

⁽¹⁾*	~~For purposes~~Adjusted to exclude acquisitions

(1)

This is a non-GAAP financial measure. EBITDA, as adjusted is calculated by excluding interest expense, income tax expense, depreciation and amortization from net income and also excluding incremental EBITDA as a result of ~~calculating EBITDA for 2015,~~the Wade Jurney Homes acquisition, transaction expenses and executive bonuses ~~were excluded.~~for 2018.

~~CFO~~

~~The Compensation Committee determined that our CFO’s STI award for 2013 was significantly below~~

In determining the market median. In light of the Company’s compensation philosophy to provide incentive award opportunities that range from below market median (in the case of poor performance) to at or above the market 75th percentile (in the case of outstanding performance), the Compensation Committee determined that our CFO’s target STI award should be set at approximately 75% of the recommended base salary, with a maximum award opportunity of 267% of target (i.e., approximately 200% of base salary) and a threshold award level of 50% of target (i.e., 37.5% of base salary). Following the review of 2014 compensation conducted by the Compensation Committee in early 2015, the Compensation Committee determined that an adjustment to the award levels for our CFO was warranted. As such, for 2015, the target award level for our CFO was set at 100% of base salary, with threshold continuing to be set at 50% of target (which now represented 50% of base salary) and maximum set at 200% of target (which continued to represent 200% of base salary).

The Compensation Committee and our Co-CEOs determined that our CFO’s STI award should continue to be based in part on Company financial performance, as well as individual performance goals. Thus, the Compensation Committee retained revenue and EBITDA as performance metrics applicable in determining our CFO’s annual STI award, and also included an individual performance aspect based on specific, identifiable goals. For the financial goals, the same threshold, target and maximum levels were utilized as reflected in the table below. For the individual performance measures, our Co-CEOs make an independent assessment of the degree to which our CFO satisfied the goals. Our CFO’s individual performance goals for 2015 included the following: enhancement of internal controls, including updating process and procedure documents; shareholder relations management and oversight; development and management of financial services earnings; implementation and management of supplier rebate programs; management of risk exposures; and other relevant goals. The two financialeach performance ~~metrics and the individual performance goals were equally weighted in determining our CFO’s annual STI payment.~~

~~The economic performance metrics for our CFO, and the performance levels attached to each, as well as actual performance, are reflected in the following table.~~

~~Performance Measure~~

~~Threshold~~

~~Target~~

~~Maximum~~

~~Actual~~

~~Revenue~~

~~552.5 million~~

~~650.0 million~~

~~747.5 million~~

~~734.5 million~~

~~EBITDA~~⁽¹⁾

~~53.6 million~~

~~63.0 million~~

~~72.5 million~~

~~79.2 million~~

⁽¹⁾	~~For purposes of calculating EBITDA for 2015, transaction expenses and bonuses were excluded.~~

~~In the case of our Co-CEOs as well as our CFO,~~metric, the Compensation Committee ~~determined that~~set the target ~~award opportunities detailed above were in line with~~for each metric using Century’s projected business plan for 2018 (i.e., as the ~~market median for the Company’s peer group.~~

Although the Compensation Committee believes that the established bonus levels are reasonable, as a matter of governance best practice, the Compensation Committee retains negative discretion to reduce the size of any awards if the Compensation Committee believes that it isamount in the ~~best interests~~target business plan approved by the Board). Threshold was set at 90% of target, and maximum was set at 110% of target. If the ~~Company.~~

threshold level was not achieved with respect to a given performance metric, then no payout was made with respect to that metric.

For ~~2015,~~2018, our ~~Co-CEOs and our CFO~~NEOs earned cash bonuses based on maximum performance for adjusted EBITDA and closings and revenue between target and maximum performance, and our CFO earned a cash bonus based on these same corporate metrics as well as individual goals, which were between target and maximum performance. This resulted in ~~nearly all Company and individual categories (with the exception being revenue which was~~an STI award payout for each of our NEOs between the target and ~~maximum). Despite hitting and significantly exceeding their performance goals,~~maximum payouts.

Century Communities, Inc. – 2019 Proxy Statement 58

The table below shows the ~~Co-CEOs suggested,~~various levels of payout and the ~~Compensation Committee agreed, that the Compensation Committee should exercise its negative discretion to reduce the awards, because the Company is in the early stages~~actual level of being publicly traded, and there is not a lot of performance history since the Company became publicly traded. Therefore, the Compensation Committee set our Co-CEOs’ STI bonus at 67% of the maximum. Our Co-CEOs,payout for the same reasons described above, also determined that they would exercise negative discretion with respect to STI to be paid to our CFO, and set his award at approximately 71% of the maximum. The following table shows the STI cash awards ~~paid to~~made in February 2019 for each of our ~~executive officers~~NEOs for ~~2014 and 2015.~~

   Non-equity Incentive Plan Compensation
Executive Officer
           2014⁽¹⁾                    2015⁽²⁾
Dale Francescon
   $ 1,687,500       $ 1,500,000
Robert J. Francescon
   $ 1,687,500       $ 1,500,000
David L. Messenger
   $ 600,000       $ 600,000

~~(1)~~

Represents the performance-based bonuses actually paid to our NEOs pursuant to our 2014 STI program (which is a component of our First Amended & Restated 2013 Long-Term Incentive Plan), and does not include the bonuses paid to our NEOs upon closing of the IPO, which are described below in Note 2 to the Summary Compensation Table. The amounts reflected are 75% of the amounts actually earned by our NEOs under our 2014 STI program, which were reduced by 25% pursuant to the exercise of negative discretion by the Compensation Committee and our Co-CEOs.

~~(2)~~

Represents the performance-based bonuses actually paid to our NEOs pursuant to our 2015 STI program (which is a component of our First Amended & Restated 2013 Long-Term Incentive Plan). The amounts reflected are 67% and 71% of the amounts actually earned by our Co-CEOs and CFO, respectively, under our 2015 STI program, which were reduced by 33% and 29%, respectively, pursuant to the exercise of negative discretion by the Compensation Committee and our Co-CEOs.

2018 performance.

Named Executive
Officer
Threshold Payout
($)
Target Payout
($)
Maximum Payout
($)
Actual Payout
($)
Dale Francescon 743,750 1,487,500 2,975,000 2,506,812
Robert J. Francescon 743,750 1,487,500 2,975,000 2,506,812
David L. Messenger 275,000 550,000 1,100,000 951,686

Long-Term ~~Incentive—Equity Awards~~

~~In fiscal year 2014, we began providing performance-based equity awards~~Incentives – 2018 Program

Purpose: Our long-term incentive program is designed to ~~our~~reward NEOs ~~pursuant to our First Amended & Restated 2013 Long-Term Incentive Plan (which we refer to as~~for the ~~“Plan”). The awards made under the Plan in 2015 were granted to~~achievement of specific financial objectives, recognize ~~such individuals’~~their efforts on our behalf, and to provide an additional incentive and retention element to their overall compensation package.

~~2015 Performance-Based Grants~~

~~Similar~~ Our LTI program is also intended to ~~2014,~~align the interests of our executives with our stockholders.

Competitive Positioning: We target between the market median with our target LTI program and at or above market 75^th percentile for above-target performance.

LTI Awards and Plan Mechanics: The target LTI award opportunity for each of our Co-CEOs was 250% of base salary and approximately 220% of base salary for our CFO for 2018. Our LTI program for 2018 consisted of a mix of PSU and RSU awards. The PSU and RSU awards were granted under the Century Communities, Inc. 2017 Omnibus Incentive Plan and represent the right to receive Century common stock upon vesting. The PSU awards will vest and be paid out in shares of our common stock upon the achievement of cumulative adjusted pre-tax income goals over three years and the RSU awards will vest and be paid out in shares of our common stock in three equal annual installments. Once paid out, the shares underlying the PSU awards will be subject to a mandatory one-year holding period.

2018 LTI Award Opportunity: For the 2018 LTI awards, the Compensation Committee first determined ~~that~~a target LTI value for each executive based on a percentage of base salary and then delivered 60% of this value in PSU awards and 40% in time-based RSU awards.

	Performance-based (60%)				Time-based (40%)
Named Executive Officer	Threshold (50%)	Target (100%)	Above Target (200% for Co-CEOs and 150% for CFO)	Maximum (250% for Co- CEOs and 200% for CFO)	Number of RSUs	Total Target LTI Value
Dale Francescon	20,895 shares ($630,000)	41,791 shares ($1,260,000)	83,582 shares ($2,520,000)	104,477 shares ($3,150,000)	27,860 shares ($840,000)	$2,100,000
Robert J. Francescon	20,895 shares ($630,000)	41,791 shares ($1,260,000)	83,582 shares ($2,520,000)	104,477 shares ($3,150,000)	27,860 shares ($840,000)	$2,100,000
David L. Messenger	11,940 shares ($360,000)	23,880 shares ($720,000)	35,820 shares ($1,080,000)	47,761 shares ($1,440,000)	15,920 shares ($480,000)	$1,200,000

Consistent with prior years, the performance metric for the PSU awards is cumulative adjusted pre-tax income for the three-year period ending December 31, 2021. The RSU awards will vest and be paid out in shares of our common stock in three equal annual installments. Once paid out, the shares underlying the PSU awards will be subject to a mandatory one-year holding period.

Century Communities, Inc. – 2019 Proxy Statement 59

Long-Term Incentives – Payouts from 2016 Grants

Background: As described above, under our 2018 LTI program, our NEOs received a mix of PSU awards and time-vested RSU awards. The use of PSU awards led to a change in the accounting for our LTI program, resulting in a substantial increase in reported equity-based compensation for our NEOs in 2018 compared to 2017, even though the NEOs’ actual year-over-year compensation did not materially increase. As a result of the accounting treatment for the PSU and time-vested RSU awards, the entire grant date fair values of these awards are included in the “Stock Awards” column of the Summary Compensation Table, amounting to approximately $2.1 million for each of our Co-CEOs and $1.2 million for our ~~CFO should receive performance-based~~CFO. Under our prior accounting treatment, the PSU awards ~~under~~would have been reported in a future year. Each of our NEOs also received an RSU award in February 2018 as a payout from our 2016 LTI program based primarily on the ~~Plan. Following discussions~~achievement of a previously established adjusted multi-year pre-tax income performance goal for the two years ended December 31, 2017. Under the accounting rules, the payout of the 2016 LTI grant in RSU awards was deemed to occur in 2018 (not at the earlier time when the performance metric was set), which resulted in an additional $2.0 million in grant date fair value included in the “Stock Awards” column of the Summary Compensation Table for each of our Co-CEOs and $800,000 for our CFO. Due to this transition in how we account for our LTI program, the reported equity compensation component of our NEOs’ total compensation increased substantially in 2018 compared to prior years, even though the NEOs’ year-over-year actual compensation did not materially increase. Because of the three-year performance period of our prior LTI program, the grant of time-based RSU awards in February as payouts of prior LTI programs will continue through 2020, resulting in inflated equity compensation numbers each year through 2020, with ~~management,~~normalization occurring in 2021.

2018 LTI Award as Payout from 2016 LTI Award. As part of our prior LTI program, in February 2018, the Compensation Committee ~~recommended that~~granted RSU awards as payouts under our prior LTI program. For the Company utilize a one-year performance period for the Plan year, as rapid growth and capital structure changes were expected in the upcoming year and long-term performance would be difficult to forecast at the time of grant. Based on these ~~considerations,~~RSU awards, the Compensation Committee ~~determined that it would~~had established the following threshold, target, maximum and maximum with kicker LTI award opportunities for our Co-CEOs and CFO:

Named Executive Officer	Threshold	Target	Maximum	Maximum with Kicker
Dale Francescon	50% of target	100% of base salary	200% of target	250% of target
Robert J. Francescon	50% of target	100% of base salary	200% of target	250% of target
David L. Messenger	50% of target	66.6% of base salary	200% of target	250% of target

The performance-based metric used for the February 2018 RSU award grants was adjusted pre-tax income. However, as part of our plan to transition to three-year performance periods, the performance period was over two years and was cumulative adjusted pre-tax income for the two years ended December 31, 2017. In February 2018, the Compensation Committee granted RSU awards to our NEOs based on our achieved two-year cumulative adjusted pre-tax income for 2016 and 2017 in comparison to the following pre-established performance levels:

Performance Metric	Threshold ($)	Target ($)	Maximum ($)	Maximum with Kicker ($)	Actual ($)
Adjusted pre-tax income⁽¹⁾	128.5 million	142.8 million	159.9 million	178.5 million	196.1 million

________________________

(1)	This is a non-GAAP financial measure. Adjusted pre-tax income is calculated by excluding bonus expense, acquisition expense, purchase accounting adjustment and impairments.

Because our achieved two-year cumulative adjusted pre-tax income exceeded the pre-established maximum with kicker performance level, our NEOs received an actual LTI award based on maximum with kicker performance. While the Compensation Committee has discretion in the grant of these awards and reserved the right to factor in additional performance criteria, this discretion was not exercised and no additional adjustments were made to these RSU award grants. The table below shows the various levels of LTI award opportunities and the actual LTI award value and number of RSUs earned by each of our NEOs in February 2018.

Century Communities, Inc. – 2019 Proxy Statement 60

Named Executive Officer	Threshold LTI Award Value ($)	Target LTI Award Value ($)	Maximum LTI Award Value ($)	Maximum with Kicker LTI Award Value ($)	Actual LTI Award Value ($)	Number of RSUs (#)
Dale Francescon	400,000	800,000	1,600,000	2,000,000	2,000,007	65,574
Robert J. Francescon	400,000	800,000	1,600,000	2,000,000	2,000,007	65,574
David L. Messenger	150,000	300,000	600,000	750,000	749,995	24,590

These RSU awards vested on the one-year anniversary of the grant date.

2019 LTI Award as Payout from 2016 LTI Award. As part of our prior LTI program, in February 2019, the Compensation Committee granted RSU awards as payouts under our prior LTI program. For these RSU awards, the Compensation Committee had established the following threshold, target, maximum and maximum with kicker LTI award opportunities for our Co-CEOs and CFO:

Named Executive Officer	Threshold	Target	Maximum	Maximum with Kicker
Dale Francescon	50% of target	150% of base salary	200% of target	250% of target
Robert J. Francescon	50% of target	150% of base salary	200% of target	250% of target
David L. Messenger	50% of target	100% of base salary	200% of target	250% of target

The performance-based metric used for the February 2019 RSU award grants was cumulative adjusted pre-tax income for the three years ended December 31, 2018 in comparison to the following pre-established performance levels:

Performance Metric	Threshold ($)	Target ($)	Maximum ($)	Maximum with Kicker ($)	Actual ($)
Adjusted pre-tax income⁽¹⁾	202.6 million	225.1 million	247.6 million	281.4 million	369.1 million

________________________

(1)	This is a non-GAAP financial measure. Adjusted pre-tax income is calculated by excluding bonus expense, acquisition expense, purchase accounting adjustment and impairments.

Because our achieved three-year cumulative adjusted pre-tax income exceeded the pre-established maximum with kicker performance level, our NEOs received an actual LTI award based on maximum with kicker performance. While the Compensation Committee has discretion in the grant of these awards and reserved the right to factor in additional performance criteria, this discretion was not exercised and no additional adjustments were made to these RSU award grants. The table below shows the various levels of LTI award opportunities and the actual LTI award value and number of RSUs earned by each of our NEOs in February 2019.

Named Executive Officer	Threshold LTI Award Value ($)	Target LTI Award Value ($)	Maximum LTI Award Value ($)	Maximum with Kicker LTI Award Value ($)	Actual LTI Award Value ($)	Number of RSUs (#)
Dale Francescon	600,000	1,200,000	2,400,000	3,000,000	3,000,000	126,636
Robert J. Francescon	600,000	1,200,000	2,400,000	3,000,000	3,000,000	126,636
David L. Messenger	225,000	450,000	900,000	1,125,000	1,125,000	47,488

These RSU awards will vest on the one-year anniversary of the grant date.

Century Communities, Inc. – 2019 Proxy Statement 61

Long-Term Incentives – Supplemental Adjusted Summary Compensation Table

As previously discussed, due to the transition in how we account for our LTI program, the reported equity compensation component of our NEOs’ total compensation increased substantially in 2018 compared to prior years, even though the NEOs’ year-over-year actual compensation did not materially increase. The following is summary compensation information for our NEOs, assuming the grant date fair values of their February 2018 RSU award payouts under our prior LTI program were not included in the “Stock Awards” column. Given this adjustment, the information presented in the table below does not meet SEC requirements for the Summary Compensation Table. This information is supplemental to, and not a substitute for, the compensation information reported in the Summary Compensation Table. Stockholders are advised to read this Adjusted Summary Compensation Table in conjunction with the Summary Compensation Table, beginning on page 66 of this proxy statement.

Name and Principal Position	Year	Salary ($)	Bonus ($)	Stock Awards ($)	Non-Equity Incentive Plan Compensation ($)	All Other Compensation ($)	Total ($)
Dale Francescon	2018	850,000	0	2,099,978	2,506,812	81,558	5,538,348
Chairman of the Board and Co-Chief Executive Officer	2017 2016	839,453 789,583	0 0	1,275,006 2,400,000	2,550,000 2,318,868	61,396 78,000	4,725,855 5,586,451

Robert J. Francescon	2018	850,000	0	2,099,978	2,506,812	81,420	5,538,210
Co-Chief Executive	2017	839,453	0	1,275,006	2,550,000	61,258	4,725,717
Officer and President	2016	789,583	0	2,400,000	2,318,868	78,000	5,586,451

David L. Messenger	2018	525,000	0	1,149,965	951,686	7,002	2,633,653
Chief Financial Officer and Secretary	2017 2016	469,727 444,792	0 0	474,992 900,000	950,000 900,000	13,570 24,000	1,908,289 2,268,792

Other Benefits

In 2018, our NEOs had the opportunity to participate in a qualified defined contribution retirement plan on the same basis as our other employees. We believe this plan provides an opportunity for our executives to plan for and meet their retirement savings needs. We do not provide any pension arrangements, nonqualified defined contribution or other deferred compensation plans.

We provide our NEOs with modest perquisites to attract and retain them and to allow them to more efficiently utilize ~~Pre-Tax Income as the primary metric, as this metric is truly indicative of~~their time and to support them in effectively contributing to the success of ~~the Company at this stage of its growth.~~

~~Awards would be granted based on achievement of the selected performance metric at the following levels:~~

~~Performance Metric~~

~~Threshold~~

~~Target~~

~~Maximum~~

~~Actual~~

~~Pre-Tax Income~~

~~44.2 million~~

~~52.0 million~~

~~54.8 million~~

~~60.3 million~~

~~Target LTI award sizes for~~ our ~~Co-CEOs were determined~~Company. The perquisites provided to ~~be 150% of base salary, subject to satisfaction of performance-based goals. Threshold performance would dictate an award of 66.67% of target (i.e., 100% of~~

base salary), and maximum performance would result in an award of 200% of target (i.e., 300% of base salary). Our Co-CEOs earned a 2015 LTI award equivalent to approximately $2,250,000 due to achievement of the maximum performance criteria.

~~The target LTI award for~~ our CFO was set at approximately 117.6% of base salary, with a maximum award opportunity of 170% of target (i.e., 200% of base salary) and a threshold award level of 30% of target (i.e., 35% of base salary). Based upon a base salary of $425,000, target LTI would be $500,000 with a maximum award opportunity of $850,000 and a threshold award level of $150,000. Our CFO earned a 2015 LTI award equivalent to approximately $850,000 due to achievement of the maximum performance criteria.

LTI awards are granted in the form of restricted stock units of the Company, where one restricted stock unit equals the right to receive one share of common stock when such restricted stock unit vests. The LTI awards of restricted stock units that were earned based on 2015 performance were granted in early 2016, and will vest over a three-year period.

~~Other Income~~

~~In 2015, each of Dale Francescon and Robert J. Francescon received other compensation of $65,609, comprised of Company contributions to defined contribution plans,~~NEOs during 2018 included an automobile and cellular telephone allowance and, in the case of our Co-CEOs, reimbursements for term life insurance. When it is not being used for Company purposes, the NEOs may use the corporate aircraft for non-Company purposes. In ~~fiscal year 2015, Mr. Messenger received other income~~the event of ~~$6,000, comprised~~such use, the NEOs are required to reimburse the Company at a lease rate equal to the aggregate incremental per hour cost of each flight pursuant to the terms of their aircraft time sharing agreements. We believe these benefits are an ~~automobile~~important part of our overall compensation program and ~~cellular telephone allowance.~~

~~Employment Agreements~~

help us accomplish our goal of attracting, retaining, and rewarding top executive talent.

Century Communities, Inc. – 2019 Proxy Statement 62

EMPLOYMENT AGREEMENTS, SEVERANCE AND CHANGE IN CONTROL ARRANGEMENTS, AND POST-TERMINATION RESTRICTIONS

We have entered into employment agreements with each of our NEOs. These employment agreements are described under “Executive Compensation —Employment and Other Agreements.” The purpose of these agreements is to define the essential terms of these executives’ employment relationships in a manner that will protect our business and other interests and the interests of the executive, including in the event his employment is terminated upon certain events. The severance provisions in the agreement are intended to induce these executives to continue employment with our Company and to retain them and provide consideration to them for certain restrictive covenants that apply following a termination of employment. Additionally, we entered into these agreements because they provide us valuable protection by subjecting these executives to restrictive covenants that prohibit the disclosure of confidential information during and following their employment and limit their ability to engage in competition with us or otherwise interfere with our business relationships following a termination of their employment. The receipt of any severance by these executives is conditioned upon his execution of a release of claims.

In October 2018, we amended and restated the employment agreements with our Co-CEOs, the primary purpose of which was to modify the definition of “retirement” to extend by two years (to November 1, 2020) the earliest date after which the executive may terminate employment for retirement and receive certain benefits in connection therewith so as to avoid a requirement to recognize immediately the full stock-based accounting expense associated with equity awards held by such executives. We also made certain other changes to these agreements, including extending the term by two years by imposing a new five-year term; reflecting their current base salaries and annual bonus opportunities and revising their cash severance provisions.

To encourage continuity, stability and retention when considering the potential disruptive impact of an actual or potential corporate transaction, we have established change in control arrangements, including provisions in our employment agreements with our NEOs. These provisions provide our NEOs certain payments and benefits in the event of a termination of their employment in connection with a change in control. These additional payments and benefits will not be triggered just by a change in control, but require a termination event not within the control of the executive, and thus are known as “double trigger” change in control arrangements. These “double trigger” change in control protections are intended to induce executives to accept or continue employment with our Company, provide consideration to executives for certain restrictive covenants that apply following termination of employment, and provide continuity of management in connection with a threatened or actual change in control transaction. If the employment of one of our NEOs is terminated by Century without cause or by him for good reason 24 months following or in the case of our Co-CEOs, within six months preceding, a change in control, the executive will be entitled to receive a severance payment and certain benefits. The receipt of any severance is conditioned upon the executive’s execution of a release of claims.

We believe these change in control arrangements with our NEOs are an important part of our executive compensation program in part because they mitigate some of the risk for executives working in a smaller public company where there is a meaningful likelihood that the company may be acquired. Change in control benefits are intended to attract and retain qualified executives who, absent these arrangements and in anticipation of a possible change in control of our Company, might consider seeking employment alternatives to be less risky than remaining with our Company through the transaction. We believe that relative to our Company’s overall value, our potential change in control benefits are relatively small and are aligned with current peer company practices.

Century Communities, Inc. – 2019 Proxy Statement 63

RISK ASSESSMENT

As a result of our assessment on risk in our compensation programs, we concluded that our compensation policies, practices, and programs and related compensation governance structure, work together in a manner so as to encourage our executives (and other employees) to pursue growth strategies that emphasize stockholder value creation, but not to take unnecessary or excessive risks that could threaten the value of our Company. For more information on this assessment, see the discussions under “Executive Compensation—Risk Assessment of Compensation Policies, Practices and Programs.”

CLAWBACK POLICY

In November 2018, we adopted a new robust clawback policy pursuant to which we may recover cash and equity incentive compensation from current or former officers in the event a financial metric used to determine the vesting or payment of incentive compensation to an executive was calculated incorrectly and resulted in a financial restatement.

EXECUTIVE STOCK OWNERSHIP GUIDELINES

We have established stock ownership guidelines that are intended to further align the interests of our NEOs with those of our stockholders. A stock ownership target for each of our NEOs has been set at that number of shares of our Century common stock with a value equal to a multiple of the NEO’s annual base salary. All of our NEOs are in compliance with our stock ownership guidelines.

Named Executive Officer	Stock Ownership Target as a Multiple of Base Salary	In Compliance?
Dale Francescon	6x	Yes
Robert J. Francescon	6x	Yes
David L. Messenger	3x	Yes

TAX CONSIDERATIONS

Prior to the enactment of the Tax Cuts and Jobs Act (Tax Act), in designing our executive compensation program, we considered the deductibility of executive compensation under Code Section 162(m). The Tax Act, among other things, repealed the exemption from Code Section 162(m)’s deduction limit for “performance-based” compensation for taxable years beginning after December 31, 2017. Some of our compensation plans were designed with the intention of satisfying the requirements for “performance-based” compensation as defined in Code Section 162(m) prior to the effective date of the Tax Act so that such awards would be exempt from the Code Section 162(m) deduction limitation. While we designed these plans to operate in this manner, the Compensation Committee may administer the plans in a manner that does not satisfy such requirements in order to achieve a result that the Compensation Committee determines to be appropriate, including by revising performance goals and/or adjustment events as needed to ensure our pay practices continue to align with performance. In addition, despite the Compensation Committee’s efforts to structure performance-based compensation in a manner intended to be exempt from the Code Section 162(m) deduction limit, no assurance can be given that compensation intended to satisfy the requirements for exemption from Code Section 162(m) in fact will. Regardless of the changes to Section 162(m) as a result of the Tax Act, consistent with our executive compensation philosophy of linking pay to performance and aligning executive interests with those of our stockholders, we currently expect that we will continue to structure our executive compensation program so that a significant portion of total executive compensation is linked to the performance of our Company.

Century Communities, Inc. – 2019 Proxy Statement 64

HOW WE MAKE COMPENSATION DECISIONS

There are several elements to our executive compensation decision-making, which we believe allow us to most effectively implement our compensation philosophy. The Compensation Committee, its independent external compensation consultant and management all have a role in decision-making for executive compensation.

The following table summarizes their roles and responsibilities:

Responsible Party	Roles and Responsibilities
Compensation Committee (Comprised solely of independent directors and reports to the Board of Directors)	·Oversees all aspects of our executive compensation program. ·Annually reviews and approves our corporate goals and objectives relevant to Co-CEO compensation. ·Evaluates each Co-CEO’s performance in light of such goals and objectives, and determines and approves his compensation based on this evaluation. ·Determines and approves all executive officer compensation, including salary, bonus and equity and non-equity incentive compensation. ·Administers our equity and incentive compensation plans and reviews and approves all equity awards and executive incentive payouts. ·Reviews our incentive compensation arrangements to confirm that incentive pay does not encourage unnecessary risk-taking. ·Evaluates market competitiveness of each executive’s compensation. ·Evaluates proposed changes to our executive compensation program. ·Assists the Board in developing and evaluating potential candidates for executive officer positions and overseeing the development of executive succession plans. ·Has sole authority to hire consultants, approve their fees and determine the nature and scope of their work.
Independent External Compensation Consultant (Frederic W. Cook & Co., Inc.) (Independent under NYSE listing standards and reports to the Compensation Committee)	·Provides advice and guidance on the appropriateness and competitiveness of our executive compensation program relative to our performance and market practice. ·Reviews total compensation strategy and pay levels for executives. ·Examines our executive compensation program to ensure that each element supports our business strategy. ·Assists in selection of peer companies and gathering competitive market data. ·Provides advice with respect to our equity-based compensation plans.
Co-Chief Executive Officers (With the support of other members of the management team)	·Review performance of other executive officers and make recommendations with respect to their compensation. ·Confer with the Compensation Committee and compensation consultant concerning design and development of compensation and benefit plans. ·Provide no input or recommendations with respect to their own compensation.

Century Communities, Inc. – 2019 Proxy Statement 65

COMPENSATION COMMITTEE REPORT

The Compensation Committee has reviewed and discussed the foregoing “Compensation Discussion and Analysis” with our management. Based on this review and these discussions, the Compensation Committee has recommended to the Board of Directors that the “Compensation Discussion and Analysis” be included in this proxy statement and in our Annual Report on Form 10-K for the year ended December 31, 2018.

COMPENSATION COMMITTEE

James M. Lippman, Chair

John P. Box

Keith R. Guericke

EXECUTIVE COMPENSATION

SUMMARY COMPENSATION TABLE

The table set forth below summarizes the compensation information for each of the individuals who served as a “principal executive officer” or “principal financial officer” during 2018. Our Co-CEOs and CFO are our only executive officers.

Name and Principal Position	Year	Salary ($)	Bonus ($)⁽¹⁾	Stock Awards ($)⁽²⁾	Non-Equity Incentive Plan Compensation ($)⁽³⁾	All Other Compensation ($)⁽⁴⁾	Total ($)
Dale Francescon	2018	850,000	0	4,099,985	2,506,812	81,558	7,538,355
Chairman of the Board and Co-Chief Executive Officer	2017 2016	839,453 789,583	0 0	1,182,500 2,249,998	2,550,000 2,318,868	61,396 78,000	4,633,349 5,436,449

Robert J. Francescon	2018	850,000	0	4,099,985	2,506,812	81,420	7,538,217
Co-Chief Executive	2017	839,453	0	1,182,500	2,550,000	61,258	4,633,211
Officer and President	2016	789,583	0	2,249,998	2,318,868	78,000	5,436,449

David L. Messenger	2018	525,000	0	1,949,965	951,686	7,002	3,433,653
Chief Financial Officer and Secretary	2017 2016	469,727 444,792	0 0	442,496 850,002	950,000 900,000	13,570 24,000	1,875,793 2,218,794

(1)

We did not pay any discretionary bonuses or bonuses that are subjectively determined to any NEOs in any of the years presented. Annual cash bonuses, reported in the “Non-Equity Incentive Plan Compensation” column, are based on performance, which is measured against pre-established performance goals.

(2)

Amounts reported for 2018 represent the grant date fair value of RSU and PSU awards granted to our NEOs, computed in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 718. These are not amounts paid to or realized by the NEOs. We caution that the amounts reported in the table for stock awards and, therefore, total compensation, may not represent the amounts that each NEO will actually realize from the awards. Whether, and to what extent, an NEO realizes value will depend on a number of factors, including Company performance and stock price. The grant date fair value of the PSU awards assumes target levels of performance. The grant date fair value of the PSU awards assuming maximum levels of performance are as follows: Mr. Dale Francescon ($3,149,982); Mr. Robert Francescon ($3,149,982) and Mr. Messenger ($1,439,994).

Each of our NEOs also received an RSU award in February 2018 as a payout under our 2016 LTI program based primarily on the achievement of a previously established adjusted multi-year pre-tax income performance goal for the two years ended December 31, 2017. Under the accounting rules, the grant of the February 2018 RSU awards was deemed to occur in 2018 (not at the earlier time when the performance metric was set), which resulted in an additional $2.0 million in grant date fair value included in the “Stock Awards” column for each of our Co-CEOs and $800,000 for our CFO.

Century Communities, Inc. – 2019 Proxy Statement 66

Name	2016 LTIP Payout ($)	2018 LTI Award ($)	Total ($)
Dale Francescon	2,000,007	2,099,978	4,099,985
Robert J. Francescon	2,000,007	2,099,978	4,099,985
David L. Messenger	749,995	1,199,971	1,949,965

(3)

Amounts reported represent payouts under our short-term incentive plan and for each year reflect the amounts earned for that year but paid during the following year. See “Compensation Discussion and Analysis—Named Executive Officer Compensation—Short-Term Incentive—Annual Cash Bonus” for a description of our short-term incentive plan.

(4)	Amounts reported in this column for 2018 include:

Name	Company Match Contributions 401(k) ($)	Auto and Cell Phone Allowance ($)	Life Insurance Premiums ($)	Other⁽¹⁾ ($)	Total Other Compensation ($)
Dale Francescon	500	30,000	30,396	20,662	81,558
Robert J. Francescon	500	30,000	30,258	20,662	81,420
David L. Messenger	1,002	6,000	—	—	7,002

The “Other” column consists of legal fees paid by Century in connection with the negotiation of the Co-CEOs’ amended and restated employment agreements.

EMPLOYMENT AND OTHER AGREEMENTS

Co-CEO Employment Agreements

In October 2018, we entered into an amended and restated employment agreement with each of our Co-Chief Executive Officers, Dale Francescon and Robert J. ~~Francescon. Each of the employment agreements was effective as of May 7, 2013,~~Francescon, which has an initial five-year term ~~of five years,~~ and provides for automatic one-year extensions after the expiration of the initial term, unless either party provides the other with at least 90 days’ prior written notice of non-renewal. Each of the employment agreements requires Dale Francescon and Robert J. Francescon, respectively, to dedicate substantially his full business time and attention to the affairs of the Company.

~~The employment agreements also provide for, among other things:~~

~~an annual base salary of $500,000 for each of Dale Francescon and Robert J. Francescon, subject to future increases from time to time at the discretion of the Compensation Committee;~~

eligibility for annual cash performance bonuses, with a target amount equal to 150% of annual base salary and a maximum amount capped at 300% of annual base salary, based on the satisfaction and performance of discretionary goals to be established by the Compensation Committee;

~~participation in the Plan and any subsequent equity incentive plans approved by our Board; and~~

~~participation in any employee benefit plans and programs that are maintained from time to time for our other senior executive officers.~~

~~The employment~~thereafter. These agreements contain customary confidentiality provisions as well as non-competition and non-solicitation ~~provisions that apply during~~provisions.

These agreements provide for an initial annual base salary of $850,000; an annual cash performance bonus opportunity at threshold equal to 87.5% of annual base salary, at target equal to 175% of annual base salary, and at maximum equal to 350% of annual base salary; participation in our equity incentive plans; reimbursement of up to $2,500 per month for term life insurance premiums; and a $2,500 per month automobile and cell phone allowance.

No severance benefits are payable if we terminate the ~~term of the agreements and for two years after the termination of their~~executive’s employment for cause or if he resigns voluntarily and without good ~~reason.~~

~~We may terminate Dale Francescon’s or Robert J. Francescon’s employment at any time with or without cause,~~reason and ~~the executive may terminate his employment with or without good reason.~~other than by reason of retirement. If we terminate ~~Dale Francescon’s~~the executive’s employment due to his disability, or ~~Robert J. Francescon’s employment for cause, if he either resigns without good reason, or if~~ his employment ~~is terminated~~terminates due to his death or ~~disability,~~retirement, he or his estate will be entitled to receive ~~any earned but unpaid~~(i) a pro rata amount of his annual ~~base salary, reimbursement~~incentive bonus for the fiscal year in which employment terminated calculated based on actual performance; (ii) a pro rata amount of ~~expenses incurred prior to~~ the ~~date~~equity awards for the fiscal year or performance period in which employment terminated based on target performance, unless actual performance exceeds target based on proration of the performance goals through the last day of the calendar quarter preceding the termination ~~accrued but unused vacation~~

~~and any other benefits that have been earned and accrued prior to~~date; (iii) the ~~date~~immediate vesting of ~~termination. In addition, any outstanding~~all equity awards granted to him ~~under~~not then based on performance; and (iv) our payment for up to 18 months of that portion of his COBRA premiums that exceeds what he would have paid if he were an active employee. For purposes of the ~~Plan~~agreements, “retirement” means the executive’s voluntary termination of his employment provided the executive: (a) has reached (or will ~~be paid~~reach on or after the termination date) the age of 60 along with at least 20 years of employment with us (for purposes of the agreements, each executive’s employment with us is deemed to have commenced on November 1, 2000); and (b) provides us with notice of his intent to retire at least 90 days in ~~accordance with their terms.~~

advance of the termination date. If we terminate ~~Dale Francescon’s or Robert J. Francescon’s~~the executive’s employment without cause or if he terminates his employment for good reason, he will be entitled to ~~the~~(i) a lump sum cash severance ~~benefits described below. The severance benefits include the following:~~

~~each of Dale Francescon and Robert J. Francescon will be entitled~~payment equal to ~~receive any earned but unpaid~~two times his annual base salary, reimbursement of expenses incurred prior to the date of termination, any accrued but unused vacation and any benefits that have vested or which he is eligible to receive prior to the date of termination;

~~we will pay the employer’s portion of COBRA premiums under our major medical group health and dental programs for up to 30 months;~~

~~each of Dale Francescon and Robert J. Francescon will be entitled to receive~~salary; (ii) a lump sum cash payment ~~in an amount~~ equal to the ~~sum~~greater of ~~(i) three~~either two times his 12 months’ annual base salary (which we refer to as the “Base Severance”), provided that, if the date of his termination is within the initial term, the amount he will be entitled to receive shall be twice the normal Base Severance, plus (ii) a payment in lieu of theaverage annual bonus for the three preceding fiscal ~~year in which~~years or two times his employment was terminated equal to the amount of the annual bonus that would have become payable for the fiscal year if employment had not been terminated, based on performance actually achieved that year (determined by our Board following completion of performance year), multiplied by a fraction, the numerator of which is the number of days he was employed in the fiscal year of termination and the denominator of which is the total number of days in the fiscal year, provided that if the date of his termination is within the initial term the amount received shall be no less than the maximum allowable annual bonus that he could have been paid for such year pursuant to the terms of his employment agreement; and

all equity awards granted to Dale Francescon and Robert J. Francescon under the Plan or any subsequent equity incentive plan approved by our Board will immediately vest, any forfeiture restrictions will immediately lapse and anypotential target bonus ~~performance criteria~~ for the year in which ~~such~~the termination ~~occurs will be treated as satisfied~~date occurs; (iii) the immediate vesting of all equity awards, including grants for the year of termination based on target performance, and ~~in the case of any options, will become vested and exercisable or,~~for other performance-based equity awards, determined at the ~~discretion~~greater of ~~our Board, may be cashed out~~target or ~~cancelled.~~

~~The employment agreements also provide that if~~actual performance achieved against a proration of the original performance goals through the last day of the calendar quarter preceding the termination ~~occurs~~date; and (iv) our payment for up to 18 months of that portion of his COBRA premiums that exceeds the amount he would have paid as an active employee. If we terminate the executive’s employment without cause or if he terminates his employment for good reason, within six months preceding or within 24 months following a “change in control” (as defined in the ~~employment~~ agreements), in addition to the other payments described above (but in lieu of the payment in clauses (i) and (ii) above), the executive will receive a lump sum cash severance payment equal to three times his base salary and a lump sum cash payment equal to the greater of: (A) three times his potential target bonus for the year in which the termination date occurs; or (B) three times his average annual bonus for the three completed fiscal years immediately preceding the termination date. To the extent that any change in control payment or benefit would be subject to the “golden parachute” excise tax under Code Section 4999, the payments will be reduced to an amount that will not subject the executive to the excise tax if the reduction results in him receiving a greater amount on a net after tax basis than would be received if he received the payment and benefits and paid the excise tax. The severance payments and benefits provided for above ~~(other than~~are conditioned upon our receipt of a release of claims from the executive.

Century Communities, Inc. – 2019 Proxy Statement 67

CFO Employment Agreement

In November 2017, we entered into an employment agreement with our CFO, David L. Messenger. This agreement has an initial term of three years and provides for automatic one-year extensions thereafter. Mr. Messenger’s agreement contains customary confidentiality provisions as well as non-competition and non-solicitation provisions.

This agreement provides for an initial annual base salary of $475,000 (which was subsequently raised to $550,000 for 2018); an annual cash performance bonus opportunity at threshold equal to 50% of annual base salary, at target equal to 100% of annual base salary, and at maximum equal to 200% of annual base salary; participation in our equity incentive plans; and a $500 per month automobile and cell phone allowance.

No severance benefits are payable if we terminate Mr. Messenger’s employment for cause or if he resigns voluntarily and without good reason. In addition, any outstanding equity awards granted to him will be paid in accordance with their terms. If we terminate Mr. Messenger’s employment due to his disability or if his employment terminates due to his death, he or his estate will be entitled to receive (i) the prorated amount of the annual incentive bonus for the fiscal year his employment terminated based on actual performance for that year, provided he was employed for at least 50% of the year; (ii) the prorated amount of the equity awards he would have received for the fiscal year his employment terminated calculated based on target performance, provided he was employed for at least 50% of the performance period; (iii) the immediate vesting of all unvested equity awards granted to him that vest based on the passage of time; and (iv) our payment for up to 18 months of that portion of the executive’s COBRA premiums that exceeds what he would have paid as an active employee. If we terminate Mr. Messenger’s employment without cause or if he terminates his employment for good reason, he will be entitled to (i) a cash severance payment equal to his annual base salary payable as salary continuation over 12 months; (ii) the prorated amount of his annual incentive bonus for the fiscal year his employment terminated calculated based on actual performance; (iii) the prorated amount of the equity awards for the fiscal year his employment terminated, based on target; (iv) the immediate vesting of all equity awards granted to him that vest based on the passage of time; and (v) our payment for up to 18 months of that portion of his COBRA premiums that exceeds what he would have paid if he were an active employee. If we terminate Mr. Messenger’s employment without cause or if he terminates his employment for good reason within 24 months following a “change in control” (as defined in the agreement), in addition to the other payments described above (but in lieu of the cash severance and prorated annual ~~bonus)~~bonus payments), ~~Dale Francescon and Robert J. Francescon~~Mr. Messenger will receive an amount equal to ~~three~~two times his annual base salary plus two times the greater of his target annual bonus ~~(150% of base salary)~~ for the ~~current~~year in which termination occurs or the average of his annual bonuses paid to him for the three completed fiscal ~~year.~~

~~Potential Payments upon Termination or Change in Control~~

~~The following table shows potential payments to our NEOs under existing contracts (including, without limitation, employment agreements and equity award agreements) for various scenarios involving a~~years immediately preceding the termination ~~of employment prior to or following a~~date. To the extent that any change in control ~~assuming a December 31, 2015 termination date. David L. Messenger, our Chief Financial Officer, does not have an employment agreement~~payment or any other arrangements with the Company under which he is entitled to severance benefits upon termination of his employment. Please see the narrative above and the section above entitled “—Employment Agreements” for further details.

Name
   Benefit Termination without
Cause or Good Reason
Prior to Change in
Control    Termination without
Cause or Good Reason
within 24 Months
Following Change in
Control    Voluntary
Termination;
Death,
Disability
Dale Francescon
   Severance Pay $ 4,500,000       $ 4,500,000       —
   Incentive Pay $ 2,250,000       $ 3,375,000       —
   Stock Vesting $ 3,536,563       $ 3,536,563       —
   Other Benefits ⁽¹⁾ $ 16,986       $ 16,986       $ 16,986







Robert J. Francescon
   Severance Pay $ 4,500,000       $ 4,500,000       —
   Incentive Pay $ 2,250,000       $ 3,375,000       —
   Stock Vesting $ 3,536,563       $ 3,536,563       —
   Other Benefits ⁽²⁾ $ 23,193       $ 23,193       $ 23,193







David L. Messenger
   Severance Pay —         —         —
   Incentive Pay —         —         —
   Stock Vesting —         —         —
   Other Benefits —         —         —

⁽¹⁾	~~$16,986 represents the Company’s portion of the applicable COBRA premium for continued coverage under the Company’s medical benefits plan for 30 months.~~

⁽²⁾	~~$23,193 represents the Company’s portion of the applicable COBRA premium for continued coverage under the Company’s medical benefits plan for 30 months.~~

~~Tax Deductibility of Compensation~~

Section 162(m) of the Internal Revenue Code of 1986, as amended, limits the amount of compensation in excess of $1,000,000 that the Company may deduct in any one year with respect to its chief executive officer and three other most highly compensated executive officers (excluding the chief financial officer). There are exceptionsbenefit would be subject to the ~~$1,000,000 limitation for performance-based compensation meeting certain requirements. The Company believes~~“golden parachute” excise tax under Code Section 4999, the payments will be reduced to an amount that it has satisfied all of the requirements for the STI and LTI awards granted under our First Amended & Restated 2013 Long-Term Incentive Plan to qualify as “performance-based” within the meaning of Section 162(m), so that it is fully deductible by the Company without regardwill not subject him to the ~~$1,000,000 limit.~~

[~~Remainder~~excise tax if the reduction results in him receiving a greater amount on a net after tax basis than would be received if he received the payment and benefits and paid the excise tax. The severance payments and benefits provided for above are conditioned upon our receipt of ~~the page left intentionally blank. Summary Compensation Table follows on next page.~~]

~~Summary Compensation Table~~

~~For the years ended December 31, 2015, 2014 and 2013, the following table summarized the compensation~~a release of ~~all of the Company’s NEOs.~~

Name and Principal Position
   Year    Salary
($)⁽¹⁾    Bonus
($)⁽²⁾    Stock
Awards
($)⁽³⁾    Non-equity
Incentive Plan
Compensation
($)⁽⁴⁾    All Other
Compensation
($)⁽⁵⁾    Total
($)
Dale Francescon,
   2015       750,000       —         2,249,986       1,500,000       65,609       4,565,595
Co-Chief Executive Officer
   2014       681,891       250,000       1,499,990       1,687,500       66,842       4,186,223
   2013       466,666       —         1,260,000       1,500,000       55,400       3,282,066















Robert J. Francescon,
   2015       750,000       —         2,249,986       1,500,000       65,609       4,565,595
Co-Chief Executive Officer
and President
   2014       681,891       250,000       1,499,990       1,687,500       66,842       4,186,223
   2013       466,666       —         1,260,000       1,500,000       55,400       3,282,066















David L. Messenger,
   2015       415,909       —         599,990       600,000       6,000       1,621,899
Chief Financial Officer
   2014       355,320       125,000       1,000,000       600,000       6,000       2,086,320
   2013       135,417       250,000       242,500       —         3,500       631,417

⁽¹⁾	~~David L. Messenger began serving as our Chief Financial Officer on June 3, 2013. Salary received in 2013 was pro-rated based on an annual base salary of $250,000.~~

⁽²⁾

In 2014, each of Dale Francescon and Robert J. Francescon received a cash bonus in the amount of $250,000 upon completion of the Company’s IPO, as provided by the terms of their respective Employment Agreements. In 2014, David L. Messenger also received a cash bonus of $125,000 upon completion of the IPO, as provided by the terms of his offer letter. David L. Messenger received a discretionary cash bonus of $250,000 for fiscal year 2013 based upon his performance during that period, which was approved by the Compensation Committee.

⁽³⁾

With respect to 2015, the amount reflected represents the grant date fair value of 131,964 shares of restricted stock units granted to each of Dale Francescon and Robert J. Francescon, and 35,190 shares of restricted stock units granted to David L. Messenger, computed in accordanceclaims from Mr. Messenger.

Century Communities, Inc. – 2019 Proxy Statement 68

Other Agreements

In January 2018, we entered into aircraft time sharing agreements with FASB ASC Topic 718. With respect to 2014, the amount reflected represents the grant date fair value of 70,093 shares of restricted stock granted to each of Dale Francescon and Robert J. Francescon, and 46,729 shares of restricted stock granted to David L. Messenger, computed in accordance with FASB ASC Topic 718. With respect to 2013, the amount reflected represents the grant date fair value of 63,000 shares of restricted stock granted to each of Dale Francescon and Robert J. Francescon, and 12,500 shares of restricted stock granted to David L. Messenger, computed in accordance with FASB ASC Topic 718.

⁽⁴⁾

For 2015, each of Dale Francescon, Robert J. Francescon and David L. Messenger earned the maximum award under our 2015 STI program, based upon the satisfaction of Company and individual performance goals. The maximum award amounts were $2,250,000 for each of our Co-CEOs and $850,000 for our CFO. Although our executive officers earned the maximum award, the Compensation Committee exercised negative discretion to reduce the award paid to each of our Co-CEOs to 67% of the maximum award, and our Co-CEOs exercised negative discretion to reduce the award paid to our CFO to 71% of the maximum award. This resulted in actual awards paid in 2015 of $1,500,000 to each of our Co-CEOs and $600,000 to our CFO, which amounts are reflected in the table.

~~For 2014, each of~~ Dale Francescon, Robert J. Francescon, and David L. Messenger, ~~earned~~which govern their personal use of the ~~maximum award under our 2014 STI program, based upon~~Company’s aircraft during their employment and their reimbursement of the ~~satisfaction~~Company for the costs of ~~Company~~any such use. The lease rate payable by the executives thereunder equals the aggregate incremental per hour cost of each flight, as such cost is described in the agreements. Use of the aircraft by the executives is subject to prior approval of the Co-Chief Executive Officers, and ~~individual performance goals.~~ is at all times subordinate to use by the Company. Each of the agreements has an initial term of one year, and provides for automatic one-year extensions thereafter, unless (i) either party provides the other with at least 30 days’ prior written notice of non-renewal, or (ii) the agreement is terminated on shorter notice as provided therein.

Century Communities, Inc. – 2019 Proxy Statement 69

GRANTS OF PLAN-BASED AWARDS DURING 2018

The ~~maximum award amounts were $2,250,000 for each~~table below provides information concerning grants of ~~our Co-CEOs and $800,000 for our CFO. Although our executive officers earned the maximum award, the Compensation Committee exercised negative discretion to reduce the award paid~~plan-based awards to each of our ~~Co-CEOs to 75% of~~NEOs during the ~~maximum award, and our Co-CEOs exercised negative discretion to reduce the award paid~~year ended December 31, 2018. Non-equity incentive plan awards were granted to our ~~CFO to 75%~~NEOs under our annual short-term incentive plan, the material terms of which are described under “Compensation Discussion and Analysis—Named Executive Officer Compensation—Short-Term Incentive-Annual Cash Bonus.” Stock awards (in the ~~maximum award. This resulted in actual~~form of RSU and PSU awards) were granted under our stockholder-approved plan, the Century Communities, Inc. 2017 Omnibus Incentive Plan. The material terms of these awards ~~paid in 2014 of $1,687,500 to each of our Co-CEOs~~are described under “Compensation Discussion and ~~$600,000 to our CFO, which amounts are reflected~~Analysis—Named Executive Officer Compensation—Long-Term Incentives” and in the ~~table.~~

notes to the table below.

		Estimated Future Payouts under Non-Equity Incentive Plan Awards⁽¹⁾			Estimated Future Payouts under Equity Incentive Plan Awards⁽²⁾			All Other Stock	Grant
Name	Grant Date	Threshold ($)	Target ($)	Maximum ($)	Threshold (#)	Target (#)	Maximum (#)	Awards: Number of Shares of Stock or Units⁽³⁾(#)	Date Fair Value Stock and Option Awards⁽⁴⁾ ($)
Dale Francescon
Cash award	—	743,750	1,487,500	2,975,000
RSU award	02/07/18							65,574	2,000,007
RSU award	04/19/18							27,860	839,979
PSU award	04/19/18				20,895	41,791	104,477		1,259,999
Robert J. Francescon
Cash award	—	743,750	1,487,500	2,975,000
RSU award	02/07/18							65,574	2,000,007
RSU award	04/19/18							27,860	839,979
PSU award	04/19/18				20,895	41,791	104,477		1,259,999
David L. Messenger
Cash award	—	275,000	550,000	1,100,000
RSU award	02/07/18							24,590	749,995
RSU award	04/19/18							15,920	479,988
PSU award	04/19/18				11,940	23,880	47,761		719,982

______________________

⁽⁵⁾(1)

~~Each~~Amounts reported represent potential future payouts under our short-term incentive plan. Actual payouts under this plan are reflected in the “Non-Equity Incentive Plan Compensation” column of the Summary Compensation Table.

(2)

Amounts reported represent the range of PSU award payouts for the 2018 to 2020 performance period. The range includes an “above target” payout which would result in the following payouts: Dale Francescon ~~and~~(83,582); Robert J. Francescon ~~received other compensation of $65,609 in 2015, comprised of $5,609 in Company contributions to defined contribution plans, a $30,000 automobile~~(83,582); and ~~cellular telephone allowance and $30,000 in reimbursements for term life insurance.~~ David L. Messenger ~~received other compensation~~(35,820). Information regarding the PSU awards is set forth under “Compensation Discussion and Analysis—Named Executive Officer Compensation—Long-Term Incentives.”

(3)

Amounts reported represent RSU awards. The RSU awards granted on February 7, 2018 were payouts under our prior LTI program upon the achievement of ~~$6,000~~a performance metric that was established in ~~2015, comprised~~March 2016 and will vest and become issuable on the one-year anniversary of ~~an automobile~~the grant date, subject to the executive’s continued employment with us. The RSU awards granted on April 19, 2018 are part of our 2018 LTI program and ~~cellular telephone allowance.~~will vest and become issuable in equal installments on the first, second, and third year anniversaries of the grant date, subject to the executive’s continued employment with us.

~~Each~~

(4)

Amounts reported represent the grant date fair value of the RSU and PSU awards granted to our NEOs, computed in accordance with FASB ASC Topic 718, based on the closing price of our common stock on the grant dates of February 7, 2018 ($30.50), and April 19, 2018 ($30.15), as reported by the NYSE, and assuming target levels of performance for the PSU awards. The RSU and PSU awards will vest upon certain terminations of employment and upon a change in control if the award is not continued, assumed, or substituted with equivalent awards by the successor entity.

As previously discussed, the use of ~~Dale Francescon and Robert J. Francescon received other~~PSU awards led to a change in the accounting for our LTI program, resulting in a substantial increase in reported equity-based compensation ~~of $66,842~~for our NEOs in ~~2014, comprised of $6,842 in Company contributions~~2018 compared to ~~defined contribution plans, a $30,000 automobile and cellular telephone allowance and $30,000 in reimbursements for term life insurance. David L. Messenger received other~~2017, even though the NEOs’ actual year-over-year compensation ~~of $6,000 in 2014, comprised of an automobile and cellular telephone allowance.~~

Each of Dale Francescon and Robert J. Francescon received other compensation of $55,400 for fiscal year 2013, comprised of $9,400 in Company contributions to defined contribution plans, a $30,000 automobile and cellular telephone allowance and $30,000 in reimbursements for term life insurance. David L. Messenger received a $3,500 automobile and cellular telephone allowance for fiscal year 2013, which is the pro-rated amount from a $6,000 annual allowance based on his actual period of service beginning on June 3, 2013.

~~Grants of Plan-Based Awards in 2015~~

~~The following table sets forth certain information with respect to awards granted during 2015 to our NEOs.~~

Name
   Grant Date    Shares of
Restricted
Stock (#)    Fair Value on
Grant Date
($/share)    Grant Date
Fair Value of
Restricted
Stock Awards
Dale Francescon
   2/18/2015       131,964       $ 17.05       $ 2,249,986
Robert J. Francescon
   2/18/2015       131,964       $ 17.05       $ 2,249,986
David L. Messenger
   2/18/2015       35,190       $ 17.05       $ 599,990

~~All equity awards were made under the Plan and will vest with respect to 1/3 of the shares on each of the first three anniversaries of the date of grant.~~

~~Outstanding Equity Awards as of December~~did not materially increase.

Century Communities, Inc. – 2019 Proxy Statement 70

OUTSTANDING EQUITY AWARDS AS OF DECEMBER 31, ~~2015~~

2018

The following table sets forth information with respect to all outstanding unvested ~~restricted stock~~RSU awards toand PSU awards held by our NEOs ~~that were outstanding~~ as of December 31, ~~2015. Restricted stock will vest (restrictions will lapse) if the NEO remains employed on the vesting date.~~

   Stock Awards as of December 31, 2015
Name
   Number of
shares of stock
that have
not vested (#) Market Value of
shares of stock
that have not
vested⁽³⁾
Dale Francescon
   199,693 ⁽¹⁾ $ 3,536,563
Robert J. Francescon
   199,693 ⁽¹⁾ $ 3,536,563
David L. Messenger
   70,510 ⁽²⁾ $ 1,248,732

2018. No other equity awards were held by our NEOs as of December 31, 2018.

	Stock Awards as of December 31, 2018
Name	Number of Shares or Units of Stock That Have Not Vested (#)	Market Value of Shares or Units of Stock that Have Not Vested⁽¹⁾ ($)	Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested⁽²⁾ (#)	Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested⁽³⁾ ($)
Dale Francescon
RSU awards⁽⁴⁾	156,422	2,699,844
PSU award			20,895	360,648
Robert J. Francescon
RSU awards⁽⁴⁾	156,422	2,699,844
PSU award			20,895	360,648
David L. Messenger
RSU awards⁽⁵⁾	64,252	1,108,990
PSU award			11,940	206,084

______________________

⁽¹⁾	Amounts reported represent the value of RSU awards based on the number of shares of Century common stock underlying the RSU awards that have not vested multiplied by the closing price of our common stock on December 31, 2018 ($17.26), as reported by the NYSE.

(2)

Amounts reported represent the number of PSU awards that were in progress based on actual levels of performance for 2018 and threshold levels of performance for 2019 and 2020. The 2018 to 2020 PSU awards will vest, if at all, solely based on the accomplishment of the performance goal established for the three-year performance period, which will end on December 31, 2020. In addition, the PSU awards will vest upon certain terminations of employment and upon a change in control if the award is not continued, assumed, or substituted with equivalent awards by the successor entity.

(3)	Amounts reported represent the value of PSU awards that were in progress based on the closing price of our common stock on December 31, 2018 ($17.26), as reported by the NYSE.

(4)

Comprised of ~~131,964~~27,860 unvested shares ~~of time-based restricted stock~~underlying an RSU award granted on April 19, 2018, 65,574 unvested shares underlying an RSU award granted on February ~~18, 2015, 70,093~~7, 2018, 10,059 unvested shares ~~of time-based restricted stock~~underlying an RSU award granted on ~~May 7, 2014,~~March 17, 2017, and ~~63,000~~52,929 unvested shares ~~of time-based restricted stock~~underlying an RSU award granted on ~~May 7, 2013, each~~February 10, 2016. Each of ~~which will vest~~these awards vests in equal installments on the first, second, and third ~~anniversary~~year anniversaries of the respective grant dates, subject to the executive’s continued employment with ~~us.~~us, except the RSU award granted on February 7, 2018 vests one year from the anniversary of the grant date. The RSU awards will vest upon certain terminations of employment and upon a change in control if the award is not continued, assumed, or substituted with equivalent awards by the successor entity.

⁽²⁾(5)

Comprised of ~~35,190~~15,920 unvested shares ~~of time-based restricted stock~~underlying an RSU award granted on April 19, 2018, 24,590 unvested shares underlying an RSU award granted on February ~~18, 2015, 46,729 of time-based restricted stock~~7, 2018, 3,747 unvested shares underlying an RSU award granted on ~~May 7, 2014,~~March 17, 2017, and ~~12,500~~19,995 unvested shares ~~of time-based restricted stock~~underlying an RSU award granted on ~~June 3, 2013, each~~February 10, 2016. Each of ~~which will vest~~these awards vests in equal installments on the first, second, and third ~~anniversary~~year anniversaries of the respective grant ~~date~~dates, subject to the executive’s continued employment with ~~us.~~us, except the RSU award granted on February 7, 2018 vests one year from the anniversary of the grant date. The RSU awards will vest upon certain terminations of employment and upon a change in control if the award is not continued, assumed, or substituted with equivalent awards by the successor entity.

Century Communities, Inc. – 2019 Proxy Statement 71

OPTION EXERCISES AND STOCK VESTED DURING 2018

⁽³⁾

The table below provides information regarding stock awards (in the form of RSU awards and restricted stock awards) that vested for each of our NEOs during the year ended December 31, 2018. No PSU awards held by our NEOs vested and no option awards were exercised or outstanding during the year ended December 31, 2018.

	Stock Awards
Name	Number of Shares Acquired on Vesting⁽¹⁾ (#)	Value Realized on Vesting⁽²⁾ ($)
Dale Francescon
RSU awards	93,672		2,689,859
Restricted stock awards	43,988		1,429,610
Robert J. Francescon
RSU awards	93,672		2,689,859
Restricted stock awards	43,988		1,429,610
David L. Messenger
RSU awards	35,263		1,012,565
Restricted stock awards	11,730		381,225

______________________

(1)	~~Value~~The number of shares acquired upon vesting reflects the gross number of shares acquired or becoming non-forfeitable absent netting of any shares surrendered or sold to satisfy tax withholding requirements.

(2)

The value realized on vesting represents the gross number of shares acquired or that became non-forfeitable multiplied by the closing sale price of our common stock on the vesting date or the last trading day prior to the vesting date if the vesting date was not a trading day, as reported by the NYSE.

Century Communities, Inc. – 2019 Proxy Statement 72

POTENTIAL POST-TERMINATION AND CHANGE IN CONTROL PAYMENTS

Employment Agreements

As previously described, the employment agreements with each of our NEOs contains severance provisions, including in connection with a change in control, intended to induce these executives to continue employment with our Company and to retain them and provide consideration to them for certain restrictive covenants that apply following a termination of employment. The receipt of any severance by these executives is conditioned upon his execution of a release of claims. These employment agreements are described under “Executive Compensation —Employment and Other Agreements.”

Other Change in Control Arrangements

The Century Communities, Inc. 2017 Omnibus Incentive Plan under which awards have been granted to our NEOs contains “change in control” provisions. Under the plan, without limiting the authority of the Compensation Committee to adjust awards, if a “change in control” of Century (as defined in the plan) occurs, then, unless otherwise provided in the award or other agreement, if an award is continued, assumed, or substituted by the successor entity, the award will not vest or lapse solely as a result of the change of control but will instead remain outstanding under the terms pursuant to which it has been continued, assumed, or substituted and will continue to vest or lapse pursuant to such terms. If the award is continued, assumed, or substituted by the successor entity and within two years following the change in control the executive is either terminated by the successor entity without “cause” or, if the executive is an executive officer of Century, resigns for “good reason,” each as defined in the plan, or if outstanding awards that are not continued, assumed, or substituted with equivalent awards by the successor entity in connection with the change in control, then:

all restrictions imposed on restricted stock, RSU awards, or deferred units that are not performance-based held by such participant will lapse;

all vested and earned awards that are performance-based held by such participant for which the performance period has been completed as of the date of such termination, resignation or change in control, as applicable, but have not yet been paid, will be paid in cash or shares and at such time as provided in the award agreement; and

all performance-based awards for which the performance period has not been completed as of the date of such termination, resignation or change in control, as applicable, held by such participant will immediately vest and be earned in full and paid out with respect to each performance goal based on actual performance achieved through the date of termination, resignation or change in control, as applicable, with the manner of payment to be made in cash or shares, as provided in the award agreement, within 30 days following the date of termination, resignation or change in control, as applicable, and provided that if payment in the change in control transaction is ~~calculated~~made in shares, the Compensation Committee may in its discretion provide the holder the consideration provided to other similarly situated stockholders in the change in control.

Century Communities, Inc. – 2019 Proxy Statement 73

Potential Payments to Named Executive Officers

The table below shows potential payments to our NEOs, not otherwise earned, under various scenarios involving a termination of employment, including in connection with a change in control, and upon a change in control without a termination of employment, assuming a December 31, 2018 termination date. All equity awards are valued at the closing price of our common stock on as of December 31, 2018 ($17.26), as reported by the NYSE.

Name	Benefit	Termination without Cause or for Good Reason Outside a Change in Control ($)	Termination without Cause or for Good Reason in Connection with a Change in Control ($)	Voluntary Termination/ Retirement⁽¹⁾ ($)	Death or Disability ($)	Change in Control⁽²⁾ ($)
Dale Francescon	Severance Pay⁽³⁾	1,700,000	2,550,000	—	—	—
	Incentive Pay⁽⁴⁾	4,245,912	6,368,868	—	—	—
	RSU Award Vesting	2,699,844	2,699,844	—	2,699,844	—
	PSU Award Vesting⁽⁵⁾	721,313	721,313	—	240,432	—
	LTI Award Vesting⁽⁶⁾	3,892,500	3,892,500	—	3,595,000	—
	Other Benefits⁽⁷⁾	31,997	31,997	—	31,997	—

Robert J. Francescon	Severance Pay⁽³⁾	1,700,000	2,550,000	—	—	—
	Incentive Pay⁽⁴⁾	4,245,912	6,368,868	—	—	—
	RSU Award Vesting	2,699,844	2,699,844	—	2,699,844	—
	PSU Award Vesting⁽⁵⁾	721,313	721,313	—	240,432	—
	LTI Award Vesting⁽⁶⁾	3,892,500	3,892,500	—	3,595,000	—
	Other Benefits⁽⁷⁾	43,787	43,787	—	43,787	—

David L. Messenger	Severance Pay⁽⁸⁾	550,000	1,100,000	—	—	—
	Incentive Pay⁽⁹⁾	—	1,633,333	—	—	—
	RSU Award Vesting	1,108,990	1,108,990	—	1,108,990	—
	PSU Award Vesting⁽¹⁰⁾	137,390	137,390	—	—	—
	LTI Award Vesting⁽¹¹⁾	450,000	450,000	—	450,000	—
	Other Benefits⁽⁷⁾	39,378	39,378	—	39,378	—

(1)	While the Co-CEOs are entitled to certain benefits under their employment agreements in the event of a retirement, neither executive currently meets the definition of retirement in their agreement to be entitled to such benefits.

(2)

Assumes equity awards are continued, assumed, or substituted with equivalent awards by ~~multiplying~~ the successor entity. If the equity awards are not continued, assumed, or substituted with equivalent awards by the successor entity, then the RSU awards will become immediately vested and issuable, resulting in a value of $2,699,844 in the case of the Co-CEOs and $1,108,990 in the case of the CFO, and the PSU awards will automatically vest based on actual performance, resulting in a value of $360,648 in the case of the Co-CEOs and $206,084 in the case of the CFO.

(3)	Represents: (a) two times the executive’s base salary in the event of a termination without cause or for good reason outside a change in control; and (b) three times the executive’s base salary in the event of a termination without cause or for good reason in connection with a change in control.

(4)

Represents: (a) the greater of: (i) the sum of two times the executive’s target annual bonus for the year in which the date of termination occurs; or (ii) the sum of two times the executive’s average annual bonus for the three completed fiscal years immediately preceding the date of termination in the event of a termination without cause or for good reason outside a change in control; and (b) the greater of: (i) the sum of three times the executive’s target annual bonus for the year in which the date of termination occurs; or (ii) the sum of three times the executive’s average annual bonus for the three completed fiscal years immediately preceding the date of termination in the event of a termination without cause or for good reason in connection with a change in control. In the case of a termination due to death, disability or retirement, the executive is entitled to his prorated target or actual earned 2018 bonus, whichever is higher, and which amount ($2,506,812) is not included since it was earned as of December 31, 2018.

Century Communities, Inc. – 2019 Proxy Statement 74

(5)

Represents the value of shares of our common stock that the executive would have been entitled to receive as payout of the PSU awards for the 2018 to 2020 performance period. In the event of a termination without cause or for good reason outside the context of or in connection with a change in control, the value is based on the greater of (a) the number of PSU award shares at target, and (b) the number of PSU award shares based on actual performance and performance goals prorated to the last day of the calendar quarter preceding the executive’s termination. In the event of a termination due to death or disability, the value is based on the greater of (a) the prorated number of PSU award shares at target, and (b) the prorated number of PSU award shares based on actual performance and performance goals prorated to the last day of the calendar quarter preceding the executive’s termination.

(6)

Represents: (a) full payout of 2016-2018 LTI awards assuming maximum with kicker performance and full payout of 2017-2019 LTI awards assuming target performance in the event of a termination without cause or for good reason outside the context of or in connection with a change in control; and (b) full payout of 2016-2018 LTI awards assuming maximum with kicker performance and prorated payout of 2017-2019 LTI awards assuming target performance in the event of a termination due to death or disability.

(7)	Represents our portion of the applicable COBRA premium for 18 months of continued coverage under our medical benefits plan.

(8)	Represents: (a) the executive’s current base salary in the event of a termination without cause or for good reason outside a change in control; and (b) two times the executive’s annual base salary in the event of a termination without cause or for good reason in connection with a change in control.

(9)

Represents two times the higher of: the executive’s target annual bonus for the year in which the date of termination occurs or the average annual bonus paid to the executive for the three completed fiscal years immediately preceding the date of termination, in the event of a termination without cause or for good reason in connection with a change in control. In the case of a termination without cause or for good reason outside a change in control or due to death or disability, the executive is entitled to his prorated actual earned 2018 bonus ($951,686), which amount is not included in the table since it was earned as of December 31, 2018.

(10)	Represents the value of the prorated number of shares of ~~restricted~~our common stock ~~that~~the executive would have ~~not vested by~~been entitled to receive as payout of the ~~last traded price~~PSU awards for the 2018 to 2020 performance period at target.

(11)	Represents full payout of ~~our stock on the NYSE ($17.71)~~2016-2018 LTI award assuming target performance and no payout of 2017-2019 LTI awards since as of December 31, ~~2015.~~2018 the executive was employed for less than 50% of the performance period.

Century Communities, Inc. – 2019 Proxy Statement 75

CEO PAY RATIO DISCLOSURE

Under Section 953(b) of the Dodd-Frank Act and Item 402(u) of SEC Regulation S-K, we are required to provide the ratio of the annual total compensation of each of Dale Francescon, our Co-CEO, and Robert J. Francescon, our Co-CEO, to the median of the annual total compensation of all employees of our company (other than our Co-CEOs). This ratio is a reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records and the methodology described below. The SEC rules for identifying the “median employee” and calculating the pay ratio based on that employee's annual total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their compensation practices. Accordingly, the pay ratio reported by other companies may not be comparable to the pay ratio reported by us, as other companies may have different employment and compensation practices and may utilize different methodologies, exclusions, estimates, and assumptions in calculating their pay ratios.

For 2018:

the annual total compensation of our Co-CEOs was $7,517,693, in the case of Dale Francescon, and $7,517,555, in the case of Robert J. Francescon;

the annual total compensation of the employee identified at median of our Company (other than our Co-CEOs), was $94,381;

based on this information, the ratio of the annual total compensation of each of our Co-CEOs to the annual total compensation of our median employee (identified in accordance with SEC rules and as described in greater detail below) was estimated to be 80:1; and

excluding the portion of equity-based compensation attributable to the 2016 LTI payouts ($2.0 million), the CEO pay ratio is 58:1.

To identify our median employee and to calculate the annual total compensation of our median employee and that of our co-CEOs, we used the following methodology, assumptions, and estimates:

Selection of Determination Date and Employee Population. As permitted under SEC rules, we selected December 31, 2018 as the date to identify our employee population and “median employee”. We determined that, as of December 31, 2018, our entire employee population, excluding our Co-CEOs, consisted of 1,377 total employees. In determining this population, we considered the employees of our subsidiaries and all of our employees other than our Co-CEOs, whether employed on a full-time, part-time, temporary, or seasonal basis. We did not include any contractors or other non-employee workers in our employee population.

Identification of Median Employee. To identify the “median employee” from our employee population, we selected W-2 earnings as the most appropriate measure of compensation. To make them comparable, the W-2 earnings for newly hired permanent employees who had worked less than a year were annualized.

Calculation of Annual Total Compensation. We then calculated annual total compensation for this median employee and each of our Co-CEOs using the same methodology we use for our named executive officers as set forth in our Summary Compensation Table included under “—Summary Compensation Table.”

Century Communities, Inc. – 2019 Proxy Statement 76

COMPENSATION RISK ASSESSMENT

As a result of our annual assessment on risk in our compensation programs, we concluded that our compensation policies, practices, and programs and related compensation governance structure work together in a manner so as to encourage our employees, including our NEOs, to pursue growth strategies that emphasize stockholder value creation, but not to take unnecessary or excessive risks that could threaten the value of our company. As part of our assessment, we noted in particular the following:

annual base salaries for employees are not subject to performance risk and, for most non-executive employees, constitute the largest part of their total compensation;

performance-based, or at risk, compensation awarded to our employees, which for our higher-level employees constitutes the largest part of their total compensation, is appropriately balanced between annual and long-term performance and cash and equity compensation and utilizes several different performance measures and goals that are drivers of long-term success for our Company and stockholders, and has appropriate maximums; and

a significant portion of performance-based compensation is in the form of long-term equity incentives, which do not encourage unnecessary or excessive risk because they generally have a three-year performance period or vest over a three-year period of time, thereby focusing our employees on our long-term interests.

As a matter of best practice, we will continue to monitor our compensation policies, practices, and programs to ensure that they continue to align the interests of our employees, including in particular our executive officers, with those of our long-term stockholders while avoiding unnecessary or excessive risk.

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

None of the members of Compensation Committee has or had any relationship requiring disclosure under Item 404 of SEC Regulation S-K or has ever been an officer or employee of Century or any of our subsidiaries. None of our executive officers serves, or in the past has served, as a member of the Compensation Committee, or other committee serving an equivalent function, of any entity that has one or more executive officers who serve as members of the Board or the Compensation Committee.

Century Communities, Inc. – 2019 Proxy Statement 77

~~Director Compensation~~

~~Following a market review of~~DIRECTOR COMPENSATION

OVERVIEW

Our non-employee director compensation ~~among~~program generally is designed to attract and retain experienced and knowledgeable directors and to provide equity-based compensation to align the ~~peer group companies by CBS,~~interests of our directors with those of our stockholders. In 2018, our non-employee director compensation was comprised of equity compensation, in the form of annual RSU awards, and cash compensation, in the form of annual retainers. Each of these components is described in more detail below. Dale Francescon and Robert J. Francescon, as employee directors, do not receive any additional compensation for their service as directors.

DIRECTOR COMPENSATION PROCESS

The Board of Directors has delegated to the Compensation Committee ~~recommended,~~the responsibility, among other things, to review and recommend to the Board any proposed changes in non-employee director compensation. In connection with such review, the Compensation Committee is assisted in performing its duties by our Human Resources Department and also engages an independent external compensation consultant to provide analysis regarding non-employee director compensation.

During 2018, the Compensation Committee engaged FW Cook to review our non-employee director compensation. FW Cook’s review consisted of, among other things, analysis of board compensation trends and a competitive assessment based on a selected group of companies operating in the United States that are similarly situated to us from a revenue and market capitalization perspective. The peer group used for this analysis was the same peer group used for the executive compensation analysis. The Compensation Committee considered this data in determining whether to recommend any changes to our non-employee director compensation program. Overall, the review by FW Cook showed that our non-employee director compensation program was aligned with market trends from a design perspective and aligned with our target positioning from a compensation level standpoint, other than certain Board committee chair roles and the equity component. Accordingly, on May 9, 2018, the Board of Directors, upon recommendation of the Compensation Committee, approved ~~modifications~~the following changes to ~~the existing~~our non-employee director compensation program during 2018:

increase the additional cash retainer to be paid to the Chair of the Audit Committee from $14,000 to $15,000;

increase the additional cash retainer to be paid to the Chair of the Compensation Committee from $10,000 to $12,500;

increase the Black-Scholes value of the annual restricted stock unit awards to be granted to each non-employee director who is initially elected or re-elected by the Company’s stockholders at each annual meeting of stockholders from $100,000 to $120,000 and change the vesting of such annual restricted stock unit awards from a 3-year ratable vesting to a 1-year cliff vesting; and

change the stock ownership guideline for each director from 3 times the director’s annual Board cash retainer to 5 times the director’s annual Board cash retainer.

Century Communities, Inc. – 2019 Proxy Statement 78

DIRECTOR COMPENSATION PROGRAM

The following table sets forth our non-employee director compensation program for ~~our non-employee directors. Pursuant to this compensation program, we paid~~2018.

	2018 (Before May 9, 2018) ($)	2018 (After May 9, 2018) ($)
Board Member Retainer	75,000	75,000
Audit Committee Chair Premium	14,000	15,000
Audit Committee Member Retainer	11,000	11,000
Compensation Committee Chair Premium	10,000	12,500
Compensation Committee Member Retainer	10,000	10,000
Nominating and Corporate Governance Committee Chair Premium	10,000	10,000
Nominating and Corporate Governance Committee Member Retainer	10,000	10,000
Annual RSU Award	100,000	120,000

The annual RSU award for 2018 was granted under the ~~following fees to each~~Century Communities, Inc. 2017 Omnibus Incentive Plan and vests in full on the one-year anniversary of ~~our non-employee directors during~~ the ~~fiscal year ended December 31, 2015:~~

~~an annual cash retainer of $75,000;~~

~~an annual~~ grant ~~of shares of restricted stock with an approximate value of $100,000 pursuant to the Plan, which shares will vest in equal installments annually over three years~~date, subject to continued service on the Board. The number of shares of our ~~Board;~~

~~an additional~~common stock underlying each annual ~~cash retainer~~RSU award is determined by dividing the $120,000 equity value by the closing price of ~~$25,000 to~~our common stock on the ~~chairperson~~date of ~~the Audit Committee;~~grant.

~~an additional annual cash retainer of $11,000 to the members of the Audit Committee;~~

~~an additional annual cash retainer of $20,000 to the chairperson of the Compensation Committee;~~

~~an additional annual cash retainer of $10,000 to the members of the Compensation Committee;~~

~~an additional annual cash retainer of $20,000 to the chairperson of the Nominating and Corporate Governance Committee; and~~

~~an additional annual cash retainer of $10,000 to the members of the Nominating and Corporate Governance Committee.~~

~~As part of the changes to the non-employee director compensation program, the Board eliminated all payments for attendance at meetings, either in person or telephonically.~~ We also reimburse our non-employee directors for reasonable out-of-pocket expenses incurred in connection with the performance of their duties as directors, including, without limitation, travel expenses in connection with their attendance in-person at Board and Board committee meetings. ~~Directors who are employees do not and will not receive any compensation for their services as directors.~~

SUMMARY DIRECTOR COMPENSATION TABLE FOR 2018

The following table sets forth information concerning the compensation of our non-employee directors during the ~~fiscal~~ year ended December 31, ~~2015.~~

Name
   Fees Earned or
Paid in Cash    Stock
Awards ⁽¹⁾    Total
Keith R. Guericke
   $ 120,000       $ 100,000       $ 220,000
James M. Lippman
   $ 116,000       $ 100,000       $ 216,000
John P. Box
   $ 116,000       $ 100,000       $ 216,000

2018. Each of Dale Francescon and Robert J. Francescon is not compensated separately for his service as a director, and his compensation is discussed under “Executive Compensation.”

Name	Fees Earned or Paid in Cash ($)	Stock Awards⁽¹⁾⁽²⁾ ($)	All Other Compensation⁽³⁾ ($)	Total ($)
John P. Box	116,000	119,970	—	235,970
Keith R. Guericke	120,000	119,970	—	239,970
James M. Lippman	118,500	119,970	—	238,470

(1)	The ~~amount~~amounts reflected ~~represents~~represent the grant date fair ~~market~~ value of ~~5,152~~RSU awards for 3,927 shares ~~of restricted stock~~ computed in accordance with FASB ASC Topic 718.

(2)	As of December 31, 2018, each director held unvested RSU awards for 8,401 shares.

(3)	We do not provide perquisite and other personal benefits to our non-employee directors.

Century Communities, Inc. – 2019 Proxy Statement 79

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

~~Policies and Procedures for Review and Approval of Related Party Transactions~~

POLICIES AND PROCEDURES FOR REVIEW AND APPROVAL OF RELATED PARTY TRANSACTIONS

Our Code of Business Conduct and Ethics ~~applies to our officers, directors and any employees, and~~ outlines the principles, policies, and values that govern the activities of ~~the Company,~~Century, including with respect to conflicts of interest.

A conflict of interest is defined as any situation in which a director, officer or employee has inconsistent, or seemingly inconsistent, interests with those of the Company as a whole, which could, if not properly addressed, cause serious harm to the Company. A conflict situation could arise when the individual takes actions or has interests that make it difficult for the individual to perform his or her work objectively and effectively. It is specifically required by our Code of Business Conduct and Ethics that any transaction involving a conflict of interest be approved by a vote of a majority of ~~the Company’s~~Century’s disinterested and independent directors. Our Chief Financial Officer is generally responsible for overseeing and monitoring compliance with respect to transactions involving conflicts of interest. ~~All reported violations will be promptly investigated and treated confidentially to the greatest extent possible.~~

On any new related party transactions, if the party involved in the transaction is a member of ~~our~~the Board of Directors, such member of ~~our~~the Board is required to recuse or abstain from involvement in the decision. IfIn addition, the ~~remaining Board members ratify the transaction, our Board will grant a waiver to the Code of Business Conduct and Ethics. In the event that such a waiver is granted to any~~charter of our ~~officers~~Audit Committee requires the Audit Committee to approve or ~~directors, we would announce the waiver within four (4) business days on a Current Report on Form 8-K and in the “Corporate Governance” section of our website.~~

~~In addition, on~~ratify all related party transactions. On a quarterly basis, ~~our~~the Board reviews all existing related party transactions and any new transactions that are brought to the attention of either management or ~~our~~the Board.

~~Transactions with Related Persons~~

TRANSACTIONS WITH RELATED PERSONS

For the period beginning on January 1, ~~2015~~2018, to the date of this ~~Proxy Statement,~~proxy statement, the following are our current arrangements with a related party:

Employment and Other Agreements with Named Executive Officers

We have entered into an employment agreement with each of our Co-Chief Executive Officers, Dale Francescon and Robert J. Francescon,

~~Dale Francescon~~ and ~~Robert J. Francescon serve as~~ our ~~Co-Chief Executive Officers. We have~~Chief Financial Officer, David L. Messenger. These agreements were entered into ~~employment agreements~~ with ~~each of~~ these ~~officers,~~individuals in connection with their capacities as officers, ~~which employment agreements~~and provide for salary, bonus, and other benefits, including the grant of ~~restricted stock and options to purchase shares of our common stock,~~equity awards, and severance upon a termination of employment under certain circumstances. ~~We may enter~~In January 2018, we entered into ~~similar employment arrangements~~aircraft time sharing agreements with ~~certain executive officers that we hire in the future.~~our Co-Chief Executive Officers, Dale Francescon and Robert J. Francescon, and our Chief Financial Officer, David L. Messenger. Please see the sections above entitled ~~“Executive Officers~~“Executive Compensation—Employment and ~~Compensation—Employment Agreements” and “Executive Officers and Compensation—Potential Payments upon Termination or Change in Control”~~Other Agreements” for a description of these ~~employment~~ agreements.

Indemnification Agreements

We have entered into an indemnification agreement with each of our directors, Co-Chief Executive Officers, and Chief Financial Officer. These agreements require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to us and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified. We believe that the limitation of liability provision in our charter and the indemnification agreements will facilitate our ability to continue to attract and retain qualified individuals to serve as directors and officers.

Other Related Party Transactions

We intend to hire James Francescon, the son of Robert J. Francescon, our Co-Chief Executive Officer, as Corporate Vice President commencing on or about April 30, 2019. Pursuant to the terms of his offer letter, Mr. James Francescon will receive annual compensation of $159,000, including base salary and monthly auto/cell allowance, and is eligible to earn an annual discretionary bonus. Mr. James Francescon’s annual compensation is commensurate with that of his peers. In addition, Mr. James Francescon has committed to purchase a Century Communities home for approximately $1.1 million at a closing to be held at the end of March 2019.

Century Communities, Inc. – 2019 Proxy Statement 80

STO~~OTHER MATTERS~~

CK OWNERSHIP

SIGNIFICANT BENEFICIAL OWNERS

The table below sets forth information as to entities that have reported to the SEC or have otherwise advised us that they are a beneficial owner, as defined by the SEC’s rules and regulations, of more than five percent of our outstanding common stock.

Class of Securities
Name and Address of
Beneficial Owner
Number of Shares Beneficially Owned
Percent of Class⁽¹⁾
Common Stock
Long Pond Capital, LP⁽²⁾
527 Madison Avenue, 15^th Floor
New York, NY 10022
2,608,876 8.6%
Common Stock
Dimensional Fund Advisors LP⁽³⁾
Building One
6300 Bee Cave Road
Austin, TX 78746
2,583,310 8.5%
Common Stock
BlackRock, Inc.⁽⁴⁾
55 East 52nd Street
New York, NY 10055
2,147,738 7.1%
Common Stock
Dale Francescon⁽⁵⁾
8390 East Crescent Parkway, Suite 650
Greenwood Village, CO 80111
2,137,341 7.1%
Common Stock
Robert J. Francescon⁽⁶⁾
8390 East Crescent Parkway, Suite 650
Greenwood Village, CO 80111
1,975,370 6.5%
Common Stock
Oaktree Value Equity Holdings, L.P., et al.⁽⁷⁾
333 South Grand Avenue, 28th Floor
Los Angeles, CA 90071
1,819,003

6.0%

(1) Percent of class is based on 30,297,398 shares of our common stock outstanding as of our record date, March 14, 2019.
(2) Based solely on information contained in a Schedule 13G of Long Pond Capital, LP, a hedge fund, filed with the SEC on February 14, 2019, reflecting beneficial ownership as of December 31, 2018, with shared investment discretion with respect to 2,608,876 shares and shared voting power with respect to 2,608,876 shares. Investment discretion and voting power are shared with Long Pond Capital GP, LLC, the general partner of Long Pond Capital, LP, and John Khoury, the principal of Long Pond Capital, LP. Any of the parties may direct the vote of these shares.
(3) Based solely on information contained in a Schedule 13G of Dimensional Fund Advisors LP, an investment adviser, filed with the SEC on February 8, 2019, reflecting beneficial ownership as of December 31, 2018, with sole investment discretion with respect to 2,583,310 shares and sole voting authority with respect 2,493,313 shares. Dimensional Fund Partners LP does not have shared voting or dispositive power over any of the shares. Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts, and separate accounts (such investment companies, trusts, and accounts, collectively referred to as the Funds). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser, and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, Dimensional) may possess voting and/or investment power over the shares that are owned by the Funds and may be deemed to be the beneficial owner of the shares held by the Funds. However, all shares are owned by the Funds. Dimensional disclaims beneficial ownership of such shares.
Century Communities, Inc. – 2019 Proxy Statement           81
(4) Based solely on information contained in a Schedule 13G of BlackRock, Inc., a parent holding company, filed with the SEC on February 4, 2019, reflecting beneficial ownership as of December 31, 2018, with sole investment discretion with respect to 2,147,738 shares and sole voting authority with respect 2,085,337 shares. BlackRock, Inc. does not have shared voting or dispositive power over any of the shares.
(5) Based in part on information contained in a Schedule 13G/A filed by Dale Francescon with the SEC on February 13, 2019, reflecting beneficial ownership as of December 31, 2018. Includes 293,263 shares of our common stock directly owned by Dale Francescon, 250,000 shares of common stock held by the Dale Francescon Roth IRA and 1,579,762 shares of our common stock beneficially owned through Dale Francescon’s ownership interest in DF Century, LLC, an entity controlled by him. Also includes 14,316 shares of common stock issuable upon the vesting of restricted stock unit awards within 60 days of March 14, 2019.
(6) Based in part on information contained in a Schedule 13G/A filed by Robert J. Francescon with the SEC on February 13, 2019, reflecting beneficial ownership as of December 31, 2018. Includes 218,261 shares of our common stock directly owned by Robert J. Francescon, 250,000 shares of common stock held by the Robert J. Francescon Roth IRA and 1,492,793 shares of our common stock beneficially owned through Robert J. Francescon’s ownership interest in RJF Century, LLC, an entity controlled by him. Also includes 14,316 shares of common stock issuable upon the vesting of restricted stock unit awards within 60 days of March 14, 2019.
(7) Based solely on information contained in a Schedule 13G/A that was jointly filed with the SEC on February 9, 2018, by Oaktree Value Equity Holdings, L.P., Oaktree Value Equity Fund GP, L.P., Oaktree Value Equity Fund GP Ltd., Oaktree Value Equity Fund-SP, L.P., Oaktree Value Equity Fund-SP GP, L.P., Oaktree Capital Management, L.P., Oaktree Holdings, Inc., Oaktree Fund GP I, L.P., Oaktree Capital I, L.P., OCM Holdings I, LLC, Oaktree Holdings, LLC, Oaktree Capital Group, LLC, and Oaktree Capital Group Holdings GP, LLC (collectively, the Oaktree Entities), reflecting beneficial ownership as of December 31, 2018. Aggregate beneficial ownership reported by the Oaktree Entities is based on the direct ownership of 1,819,003 shares by Oaktree Value Equity Holdings, L.P. Oaktree Value Equity Holdings, L.P. beneficially owns more than 5% of the outstanding shares of our common stock.

Century Communities, Inc. – 2019 Proxy Statement           82
SECURITY OWNERSHIP BY MANAGEMENT
The table below sets forth information known to us regarding the beneficial ownership of our common stock as of March 14, 2019, by:
· each of our directors;
·
each of the individuals named in the “Summary Compensation Table” under “Executive Compensation” beginning on page 66; and
· all of our directors and executive officers as a group.
To our knowledge, each person named in the table has sole voting and investment power with respect to all of the securities shown as beneficially owned by such person, except as otherwise set forth in the notes to the table and subject to community property laws, where applicable. The number of shares beneficially owned represents the number of shares the person “beneficially owns,” as determined by the rules of the SEC. The SEC has defined “beneficial” ownership of a security to mean the possession, directly or indirectly, of voting power and/or investment power. A stockholder is also deemed to be, as of any date, the beneficial owner of all securities that such stockholder has the right to acquire within 60 days after that date through (i) the vesting of restricted stock units or the exercise of any option, warrant, or right; (ii) the conversion of a security; (iii) the power to revoke a trust, discretionary account, or similar arrangement; or (iv) the automatic termination of a trust, discretionary account, or similar arrangement.
Class of Securities Name of Beneficial Owner Title/Position
Number of Shares Beneficially Owned⁽¹⁾
Percent of Class⁽²⁾
Common Stock
Dale Francescon⁽³⁾
Chairman of the Board and
Co-Chief Executive Officer
2,137,341 7.1%
Common Stock
Robert J. Francescon⁽⁴⁾
Co-Chief Executive Officer,
President, and Director
1,975,370 6.5%
Common Stock John P. Box Director 34,867 *
Common Stock Keith R. Guericke Director 21,950 *
Common Stock James M. Lippman Director 23,367 *
Common Stock David L. Messenger Chief Financial Officer and Secretary 131,929 *
Common Stock All directors and executive officers as a group (6 persons) 4,324,824 14.2%
* Indicates beneficial ownership of less than 1% of the total outstanding common stock.
(1) Includes for the persons listed below the following shares of common stock issuable upon the vesting of restricted stock unit awards within 60 days of March 14, 2019:
Name Number of Restricted Stock Units
Dale Francescon 14,316
Robert J. Francescon 14,316
John P. Box 7,117
Keith R. Guericke 7,117
James M. Lippman 7,117
David L. Messenger 7,180

Century Communities, Inc. – 2019 Proxy Statement           83
(2) Percent of class is based on 30,297,398 shares of our common stock outstanding as of our record date, March 14, 2019.
(3) Based in part on information contained in a Schedule 13G/A filed by Dale Francescon with the SEC on February 13, 2019, reflecting beneficial ownership as of December 31, 2018. Includes 293,263 shares of our common stock directly owned by Dale Francescon, 250,000 shares of common stock held by the Dale Francescon Roth IRA and 1,579,762 shares of our common stock beneficially owned through Dale Francescon’s ownership interest in DF Century, LLC, an entity controlled by him. See also note (1) above.
(4) Based in part on information contained in a Schedule 13G/A filed by Robert J. Francescon with the SEC on February 13, 2019, reflecting beneficial ownership as of December 31, 2018. Includes 218,261 shares of our common stock directly owned by Robert J. Francescon, 250,000 shares of common stock held by the Robert J. Francescon Roth IRA and 1,492,793 shares of our common stock beneficially owned through Robert J. Francescon’s ownership interest in RJF Century, LLC, an entity controlled by him. See also note (1) above.
STOCK OWNERSHIP GUIDELINES
We have established stock ownership guidelines that are intended to further align the interests of our directors and named executive officers with those of our stockholders. The stock ownership guidelines for our non-employee directors and named executive officers are as follows:
Position Guideline
Non-Employee Director 5x annual cash retainer
Co-Chief Executive Officers 6x annual base salary
Other Named Executive Officers 3x annual base salary

Each director and named executive officer has five years from the date of appointment or hire or, if the ownership multiple has increased during his tenure, five years from the date established in connection with such increase to reach his stock ownership targets. Until the applicable stock ownership target is achieved, each director and Co-Chief Executive Officer subject to the guidelines is required to retain an amount equal to 100% of the net shares received as a result of the vesting of restricted stock awards or restricted stock unit awards, and other named executive officers are required to retain an amount equal to 60% of the net shares received as a result of the vesting of restricted stock awards or restricted stock unit awards. All of our directors and named executive officers are in compliance with our stock ownership guidelines.

SECTION 16(a) ~~Beneficial Ownership Reporting Compliance~~

BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Exchange Act requires our executive officers, directors, and persons who own more than ~~ten percent~~10% of a registered class of our equity securities to file reports of ownership and changes in ownership with the SEC and the NYSE. Executive officers, directors, and greater than ~~ten percent~~10% stockholders are required ~~by SEC regulation~~ to furnish us with copies of all Section 16(a) forms they file.

To our knowledge, based on the information furnished by the reporting persons, we believe that all Section 16(a) filing requirements applicable to our executive officers, directors, and greater than ~~ten percent~~10% stockholders were complied with on a timely basis during the ~~fiscal~~ year ended December 31, ~~2015,~~2018, except ~~for~~that each of Dale Francescon, Robert J. Francescon, David L. Messenger, and Scott Dixon filed one ~~delinquent filing by Mr. Keith R. Guericke in connection with~~late report on Form 4 reporting the ~~Company’s grant~~vesting and withholding of shares received pursuant to ~~him of shares~~the vesting of restricted stock ~~pursuant to~~units.

Century Communities, Inc. – 2019 Proxy Statement 84

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

The table below provides information about our common stock that may be issued under our equity compensation plans as of December 31, 2018.

Plan Category	Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants, and Rights (a)			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)) (c)
Equity compensation plans approved by security holders		696,400	⁽¹⁾	$	0.00	⁽²⁾		993,947
Equity compensation plans not approved by security holders		—			—			—
Total		696,400	⁽¹⁾	$	0.00	⁽²⁾		993,947

(1)

Amount includes 377,344 shares of our common stock issuable upon the vesting of RSU awards granted under the Century Communities, Inc. 2017 Omnibus Incentive Plan, 211,594 shares of our common stock issuable upon the vesting of RSU awards granted under the Century Communities, Inc. First Amended & Restated 2013 Long-Term Incentive Plan, and 107,462 outstanding PSU awards under the 2017 plan, assuming a maximum level of achievement. The actual number of shares that will be issued under the PSU awards is determined by the level of achievement of a performance goal.

(2)	RSU and PSU awards do not have exercise prices and, therefore, have been excluded from the weighted-average exercise price calculation in column (b).

Century Communities, Inc. – 2019 Proxy Statement 85

OTHER MATTERS

STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS FOR 2020 ANNUAL MEETING OF STOCKHOLDERS

Date of 2020 Annual Meeting of Stockholders

We anticipate that our 2020 Annual Meeting of Stockholders (2020 Annual Meeting) will be held on Wednesday, May ~~13, 2015, which he reported on a Form 4 filed with the SEC on May 18, 2015.~~

~~Stockholder Proposals and Director Nominations for 2017 Annual Meeting~~

6, 2020.

Proposals Pursuant to Rule ~~14a-8.~~14a-8

Pursuant to Rule 14a-8 under the Exchange Act, our stockholders may present proper proposals for inclusion in the ~~Proxy Statement~~proxy statement and for consideration at our next annual meeting of stockholders. To be eligible for inclusion in the ~~2017~~2020 proxy statement, ~~your~~a proposal must be received by us no later than ~~December 2, 2016,~~November 26, 2019, and must otherwise comply with Rule 14a-8. While ~~our~~the Board will consider stockholder proposals, we reserve the right to omit from the ~~Proxy Statement~~proxy statement stockholder proposals that we are not required to include under the Exchange Act, including Rule 14a-8.

Nominations and Proposals Pursuant to Our ~~Bylaws.~~Bylaws

Under our Bylaws, a stockholder wishing to nominate a candidate for election to ~~our~~the Board, or propose other business for consideration, at the ~~2017~~2020 Annual Meeting of Stockholders is required to give written notice of such stockholder’s intention to make such a nomination or proposal to our Corporate Secretary at our principal executive offices at 8390 East Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111, Attention: Corporate Secretary. In order for a stockholder proposal for director nominations or other business, outside of Rule 14a-8 under the Exchange Act, to come before the ~~2017~~2020 Annual Meeting of Stockholders, such notice of nomination or proposal must be made in accordance with our Bylaws, which require appropriate notice to us of the nomination or proposal not less than 90 days nor more than 120 days prior to the date of such Annual Meeting of Stockholders. A notice of nomination or proposal is also required to contain specific information as required by our Bylaws. A nomination which does not comply with the requirements of our Bylaws may not be considered. The Nominating and Corporate Governance Committee will consider validly nominated director candidates and will provide its recommendations to ~~our~~the Board. In general, to be timely, we must receive the notice of nomination or proposal not later than the ~~90th~~90^th day nor earlier than the ~~120th~~120^th day prior to the date of the first anniversary of the ~~2016~~2019 Annual Meeting. In this regard, we must receive the notice of nomination or proposal no earlier than January ~~11, 2017~~8, 2020, and no later than February ~~10, 2017.~~

~~Householding~~7, 2020.

COST OF SOLICITATION OF PROXIES

The Board of Directors is soliciting proxies for the Annual Meeting from our stockholders. We will bear the entire cost of soliciting proxies from our stockholders. In addition to the solicitation of proxies by delivery of the Internet Notice or this proxy statement by mail, we will request that brokers, banks, and other nominees that hold shares of our common stock, which are beneficially owned by our stockholders, send Internet Notices, proxies, and proxy materials to those beneficial owners and secure those beneficial owners’ voting instructions. We will reimburse those record holders for their reasonable expenses. Although we currently do not intend to hire a proxy solicitor to assist in the solicitation of proxies, we reserve the right to do so if we believe it would be in the best interests of Century and our stockholders. If we engage a proxy solicitor, we expect the fees to be approximately $5,000, plus out-of-pocket expenses. We may use several of our regular employees, who will not be specially compensated, to solicit proxies from our stockholders, either personally or by Internet, telephone, facsimile, or special delivery letter.

Century Communities, Inc. – 2019 Proxy ~~Materials~~

Statement 86

HOUSEHOLDING OF PROXY MATERIALS

The SEC has adopted rules that permit companies and intermediaries (such as banks and brokers) to satisfy the delivery requirements for proxy statements and annual reports with respect to two or more stockholders sharing the same address by delivering a single proxy statement addressed to those stockholders. This process, which is commonly referred to as “householding,” potentially means extra convenience for stockholders and cost savings for companies.

~~This year, a~~ A number of banks and brokers with account holders who are our stockholders will be householding our proxy materials. A single proxy statement will be delivered to multiple stockholders sharing an address unless contrary instructions have been received from the affected stockholders. Once you have received

notice from your bank or broker that it will be householding communications to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement and annual report, please notify your bank or broker, direct your written request to Century Communities, Inc., 8390 East Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111, Attention: Investor Relations, or contact Investor Relations by telephone at (303) 268-8398. Stockholders who currently receive multiple copies of the proxy statement at their address and would like to request householding of their communications should contact their bank or broker.

~~Incorporation by Reference~~

INCORPORATION BY REFERENCE

Notwithstanding anything to the contrary set forth in any of our previous filings under the Securities Act of 1933, as amended, or the Exchange Act, which might incorporate future filings made by us under those statutes, the ~~preceding~~ Audit Committee Report under “Proposal No. 2. Ratification of Appointment of Independent Registered Public Accounting Firm” will not be incorporated by reference into any of those prior filings, nor will any such report be incorporated by reference into any future filings made by us under those statutes. In addition, information on our website, other than ~~our~~this proxy statement, notice, and form of proxy, is not part of the proxy soliciting materials and is not incorporated herein by reference.

COPIES OF 2018 ANNUAL REPORT

Our 2018 Annual Report, including our Annual Report on Form 10-K, including the financial statements and the financial statement schedules thereto, for the year ended December 31, 2018, are available without charge upon written request to: Century Communities, Inc., 8390 East Crescent Parkway, Suite 650, Greenwood Village, Colorado 80111, Attention: Investor Relations. Our 2018 Annual Report is also available on our website at www.centurycommunities.com.

Your vote is important. Please promptly vote your shares of Century common stock by following the instructions for voting on the Notice Regarding the Availability of Proxy Materials or, if you received a paper or electronic copy of our proxy materials, by completing, signing, dating, and returning your proxy card or by Internet or telephone voting as described on your proxy card.

	By Order of the Board of Directors

	David L. Messenger
	Chief Financial Officer and Secretary

Greenwood Village, Colorado

March 27, 2019

Century Communities, Inc. – 2019 Proxy Statement 87

ANNEX I – RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES

In this proxy statement, we use certain non-GAAP financial measures, including Adjusted EBITDA and adjusted net income and adjusted net income per diluted share. These non-GAAP financial measures are presented to provide stockholders additional information to facilitate the comparison of our past and present operations. We believe these non-GAAP financial measures provide useful information to investors because they are used to evaluate our performance on a comparable year-over-year basis. These non-GAAP financial measures are not in accordance with, or an alternative for, measures calculated in accordance with U.S. generally accepted accounting principles (GAAP) and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive or standard set of accounting rules or principles. Accordingly, the calculation of our non-GAAP financial measures may differ from the definitions of other companies using the same or similar names limiting, to some extent, the usefulness of such measures for comparison purposes. Non-GAAP financial measures have limitations in that they do not reflect all of the ~~Board~~amounts associated with our financial results as determined in accordance with GAAP. These measures should only be used to evaluate our financial results in conjunction with the corresponding GAAP measures. Accordingly, we qualify our use of ~~Directors~~

~~David L. Messenger~~

~~Chief Financial Officer~~

~~Greenwood Village, Colorado~~

~~April 1, 2016~~

non-GAAP financial information in a statement when non-GAAP financial information is presented.

0ADJUSTED EBITDA

The following table presents EBITDA and Adjusted EBITDA for the years ended December 31, 2018 and 2017. Adjusted EBITDA is a non-GAAP financial measure we use as a supplemental measure in evaluating operating performance. We define Adjusted EBITDA as consolidated net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense, (iv) depreciation and amortization expense, and (v) adjustments resulting from the application of purchase accounting for acquired work in process inventory related to business combinations. We believe Adjusted EBITDA provides an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and items considered to be non-recurring. Accordingly, our management believes that this measurement is useful for comparing general operating performance from period to period. Adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. Our presentation of Adjusted EBITDA should not be construed as an indication that our future results will be unaffected by unusual or non-recurring items. Our Adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP.

	Year ended December 31,
	2018		2017
Net income	$	96,455	$	50,295
Income tax expense		32,075		33,869
Interest in cost of home sales revenues		48,692		32,898
Interest expense (income)		3		(3	)
Depreciation and amortization expense		12,032		6,973
EBITDA		189,257		124,032
Purchase price accounting for acquired work in process inventory		38,112		15,625
Purchase price accounting for investment in unconsolidated subsidiaries outside basis		60		915
Acquisition expense		437		9,905
Adjusted EBITDA	$	227,866	$	150,477

I-1

ADJUSTED NET INCOME

Adjusted net income per diluted share is a non-GAAP financial measure that we believe is useful to management, investors and other users of our financial information in evaluating our operating results and understanding our operating trends without the effect of certain non-recurring items. We believe excluding certain non-recurring items provides more comparable assessment of our financial results from period to period. Adjusted net income per diluted share is calculated by excluding the effect of acquisition costs and purchase price accounting for acquired work in process from the calculation of reported net income per share.

	Year ended December 31,
	2018			2017
Numerator
Net income	$	96,455		$	50,295
Less: Undistributed earnings allocated to participating securities		(59	)		(384	)
Net income allocable to common stockholders	$	96,396		$	49,911
Denominator
Weighted average common shares outstanding - basic		30,084,913			24,280,871
Dilutive effect of restricted stock units		306,433			274,638
Weighted average common shares outstanding - diluted		30,391,346			24,555,509
Earnings per share:
Basic	$	3.20		$	2.06
Diluted	$	3.17		$	2.03

Adjusted Earnings per share
Numerator
Income before income tax expense	$	128,530		$	84,164
Purchase price accounting for acquired work in process inventory		38,112			15,625
Gain on previously held interest in WJH		(7,219	)		—
Acquisition expense		437			9,905
Adjusted income before income tax expense		159,860			109,694
Income tax expense, adjusted⁽¹⁾		(39,965	)		(38,612	)
Adjusted net income		119,895			71,082
Less: Undistributed earnings allocated to participating securities		(74	)		(543	)
Adjusted net income allocable to common stockholders	$	119,821		$	70,539

Denominator - Diluted		30,391,346			24,555,509

Adjusted diluted earnings per share	$	3.94		$	2.87

⁽¹⁾

For the year ended December 31, 2018, the tax rate used in adjusted net income was 25%. This rate is inclusive of our estimated annual rate offset by certain discrete items not associated with acquisitions. For the year ended December 31, 2017, the Company’s GAAP tax rate was utilized.

I-2

CENTURY COMMUNITIES, INC.

~~Proxy~~

AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN

(Effective May 8, 2019)

Table of Contents


1.	Purpose of Plan	1
2.	Definitions	1
3.	Plan Administration	7
4.	Shares Available for Issuance	10
5.	Participation	13
6.	Options	13
7.	Stock Appreciation Rights	15
8.	Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units	16
9.	Performance Awards	17
10.	Annual Performance Cash Awards	19
11.	Non-Employee Director Awards	20
12.	Other Cash-Based Awards and Other Stock-Based Awards	20
13.	Performance-Based Compensation	21
14.	Dividend Equivalents	23
15.	Effect of Termination of Employment or Other Service	23
16.	Payment of Withholding Taxes	27
17.	Change in Control	27
18.	Rights of Eligible Recipients and Participants; Transferability	31
19.	Securities Law and Other Restrictions	32
20.	Deferred Compensation; Compliance with Section 409A	33
21.	Amendment, Modification and Termination	33
22.	Substituted Awards	34
23.	Effective Date and Duration of this Plan	34
24.	Miscellaneous	34

CENTURY COMMUNITIES, INC.
AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN

1.	Purpose of Plan.

The purpose of the Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan (this “Plan”) is to advance the interests of Century Communities, Inc., a Delaware corporation (the “Company”), and its stockholders by enabling the Company and its Subsidiaries to attract and retain qualified individuals to perform services for ~~Annual Meeting~~the Company and its Subsidiaries, providing incentive compensation for such individuals that is linked to the growth and profitability of ~~Stockholders~~the Company and increases in stockholder value and aligning the interests of such individuals with the interests of its stockholders through opportunities for equity participation in the Company. The original version of this Plan initially became effective upon its approval by the Company’s stockholders on May ~~11, 2016~~10, 2017 (the “Initial Effective Date”) and at ~~1:00 p.m. local~~that time

~~Solicited on Behalf~~ replaced the Century Communities, Inc. 2013 Long-Term Incentive Plan, as amended and restated (the “Prior Plan”), although awards outstanding under the Prior Plan as of the Initial Effective Date remained outstanding in accordance with their terms. After the Initial Effective Date, no more grants of awards were made under the Prior Plan. This Plan has been approved by the Board and shall become effective upon approval by the stockholders of ~~Directors~~

the Company on May 8, 2019 (the “Effective Date”) and shall affect only Awards granted on or after the Effective Date; provided, however, the limits in Section 4 of this Plan shall apply to all Awards granted on or after the Initial Effective Date.

2.	Definitions.

The ~~undersigned hereby appoints Dale Francescon~~following terms will have the meanings set forth below, unless the context clearly otherwise requires. Terms defined elsewhere in this Plan will have the same meaning throughout this Plan.

2.1“Adverse Action” means any action or conduct by a Participant that the Committee, in its sole discretion, determines to be injurious, detrimental, prejudicial or adverse to the interests of the Company or any Subsidiary, including: (a) disclosing confidential information of the Company or any Subsidiary to any person not authorized by the Company or Subsidiary to receive it, (b) engaging, directly or indirectly, in any commercial activity that in the judgment of the Committee competes with the business of the Company or any Subsidiary or (c) interfering with the relationships of the Company or any Subsidiary and ~~David L. Messenger,~~their respective employees, independent contractors, customers, prospective customers and ~~each~~vendors.

2.2“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with, such Person where “control” will have the meaning given such term under Rule 405 of ~~them, with full power~~the Securities Act.

2.3“Annual Award Limit” or “Annual Awards Limits” have the meaning set forth in Section 4.4.

2.4“Annual Performance Cash Awards” has the meaning set forth in Section 10.1 of ~~substitution~~this Plan.

2.5“Applicable Accounting Standard” means generally accepted accounting principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

2.6“Applicable Law” means any applicable law, including without limitation, (a) provisions of the Code, the Securities Act, the Exchange Act and ~~power to act alone, as proxies to vote all~~any rules or regulations thereunder; (b) corporate, securities, tax or other laws, statutes, rules, requirements or regulations, whether federal, state, local or foreign; and (c) rules of any securities exchange, national market system or automated quotation system on which the shares of Common Stock are listed, quoted or traded.

2.7“Award” means, individually or collectively, an Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit, Deferred Stock Unit, Performance Award, Annual Performance Cash Award, Non-Employee Director Award, Other Cash-Based Award or Other Stock-Based Award, in each case granted to an Eligible Recipient pursuant to this Plan.

2.8“Award Agreement” means either: (a) a written or electronic (as provided in Section 24.8) agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award granted under this Plan, including any amendment or modification thereof, or (b) a written or electronic (as provided in Section 24.8) statement issued by the Company to a Participant describing the terms and provisions of such an Award, including any amendment or modification thereof.

2.9“Board” means the Board of Directors of the Company.

2.10“Broker Exercise Notice” means a written notice pursuant to which a Participant, upon exercise of an Option, irrevocably instructs a broker or dealer to sell a sufficient number of shares of Common Stock to pay all or a portion of the exercise price of the Option or any related withholding tax obligations and remit such sums to the Company and directs the Company to deliver shares of Common Stock to be issued upon such exercise directly to such broker or dealer or its nominee.

2.11“Cash-Based Award” means an Award made pursuant to this Plan that is denominated in cash.

2.12“Cause” means, unless otherwise provided in an Award Agreement, (a) “Cause” as defined in any employment, consulting, severance or similar agreement between the Participant and the Company or one of its Subsidiaries or Affiliates (an “Individual Agreement”), or (b) if there is no such Individual Agreement or if it does not define Cause: (i) dishonesty, fraud, misrepresentation, embezzlement or deliberate injury or attempted injury, in each case related to the Company or any Subsidiary; (ii) any unlawful or criminal activity of a serious nature; (iii) any intentional and deliberate breach of a duty or duties that, individually or in the aggregate, are material in relation to the Participant’s overall duties; (iv) any material breach by a Participant of any employment, service, confidentiality, non-compete or non-solicitation agreement entered into with the Company or any Subsidiary; or (v) before a Change in Control, such other events as will be determined by the Committee. Before a Change in Control, the Committee will, unless otherwise provided in an Individual Agreement, have the sole discretion to determine whether “Cause” exists with respect to subclauses (i), (ii), (iii), (iv) or (v) above, and its determination will be final.

2.13“Change in Control” means, unless otherwise provided in an Award Agreement or any Individual Agreement, an event described in Section 17.1 of this Plan.

2.14“Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be deemed to include a reference to any applicable regulations thereunder and any successor or amended section of the Code.

2.15“Committee” means the Compensation Committee of the Board or a subcommittee thereof, or any other committee comprised solely of directors designated by the Board to administer this Plan who are (a) “non-employee directors” within the meaning of Rule 16b-3 under the Exchange Act, and (b) “independent directors” within the meaning of the rules of The New York Stock Exchange (or other applicable exchange or market on which the ~~undersigned~~Common Stock may be traded or quoted). The members of the Committee will be appointed from time to time by and will serve at the discretion of the Board. If the Committee does not exist or cannot function for any reason, the Board may take any action under this Plan that would otherwise be the responsibility of the Committee, except as otherwise provided in this Plan. Any action duly taken by the Committee will be valid and effective, whether or not the members of the Committee at the time of such action are later determined not to have satisfied the requirements of membership provided herein.

2.16“Common Stock” means the common stock of the Company, par value $0.01 per share, or the number and kind of shares of stock or other securities into which such Common Stock may be changed in accordance with Section 4.5 of this Plan.

2.17“Company” means Century Communities, Inc., a Delaware corporation, and any successor thereto as provided in Section 24.6 of this Plan.

2.18“Consultant” means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to the Company or any Subsidiary that: (a) are not in connection with the offer and sale of the Company’s securities in a capital raising transaction and (b) do not directly or indirectly promote or maintain a market for the Company’s securities.

2.19[Intentionally deleted]

2.20“Deferred Stock Unit” means a right granted to an Eligible Recipient pursuant to Section 8 of this Plan to receive shares of Common Stock (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

2.21“Director” means a member of the Board.

2.22“Disability” means, unless otherwise provided in an Award Agreement, with respect to a Participant who is a party to an Individual Agreement, which agreement contains a definition of “disability” or “permanent disability” (or words of like import) for purposes of termination of employment thereunder by the Company, “disability” or “permanent disability” as defined in the most recent of such agreements; or in all other cases, means the disability of the Participant such as would entitle the Participant to receive disability income benefits pursuant to the long-term disability plan of the Company or Subsidiary then covering the Participant or, if no such plan exists or is applicable to the Participant, the permanent and total disability of the Participant within the meaning of Section 22(e)(3) of the Code.

2.23“Dividend Equivalents” has the meaning set forth in Section 3.2(l) of this Plan.

2.24“Effective Date” means May 8, 2019 or such later date as this Plan is approved by the Company’s stockholders.

2.25“Eligible Recipients” means all Employees, all Non-Employee Directors and all Consultants.

2.26“Employee” means any individual performing services for the Company or a Subsidiary and designated as an employee of the Company or a Subsidiary on the payroll records thereof. An Employee will not include any individual during any period he or she is classified or treated by the Company or Subsidiary as an independent contractor, a consultant, or any employee of an employment, consulting or temporary agency or any other entity other than the Company or Subsidiary, without regard to whether such individual is subsequently determined to have been, or is subsequently retroactively reclassified as a common-law employee of the Company or Subsidiary during such period. An individual will not cease to be an Employee in the case of: (a) any leave of absence approved by the Company, or (b) transfers between locations of the Company or between the Company or any Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company or a Subsidiary, as applicable, is not so guaranteed, then three (3) months following the ninety-first (91st) day of such leave, any Incentive Stock Option held by a Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Non-Statutory Stock Option. Neither service as a Director nor payment of a Director’s fee by the Company will be sufficient to constitute “employment” by the Company.

2.27“Exchange Act” means the Securities Exchange Act of 1934, as amended. Any reference to a section of the Exchange Act herein will be deemed to include a reference to any applicable rules and regulations thereunder and any successor or amended section of the Exchange Act.

2.28“Fair Market Value” means, with respect to the Common Stock, as of any date: (a) the closing sale price of the Common Stock as of such date at the end of the regular trading session, as reported by The New York Stock Exchange, the Nasdaq Stock Market, NYSE American or any national securities exchange on which the Common Stock is then listed (or, if no shares were traded on such date, as of the next preceding date on which there was such a trade); (b) if the Common Stock is not so listed, admitted to unlisted trading privileges or reported on any national exchange, the closing sale price as of such date at the end of the regular trading session, as reported by the OTC Bulletin Board, OTC Markets or other comparable quotation service (or, if no shares were traded or quoted on such date, as of the next preceding date on which there was such a trade or quote); or (c) if the Common Stock is not so listed or reported, such price as the Committee determines in good faith in the exercise of its reasonable discretion, and consistent with the definition of “fair market value” under Section 409A of the Code. If determined by the Committee, such determination will be final, conclusive and binding for all purposes and on all persons, including the Company, the stockholders of the Company, the Participants and their respective successors-in-interest. No member of the Committee will be liable for any determination regarding the fair market value of the Common Stock that is made in good faith.

2.29“Full Value Award” means an Award other than in the form of an Option or Stock Appreciation Right, and which is settled by the issuance of shares of Common Stock.

2.30“Good Reason” means, unless otherwise provided in an Award Agreement, the assignment to the Participant of any duties materially inconsistent in any respect with the Participant’s position (including a material negative change regarding the Participant’s status, offices, titles or reporting requirements), authority, duties or responsibilities, or any other action by the Company which results in a material diminution in such position, authority, duties or responsibilities (but not occurring solely as a result of the Company’s ceasing to be a publicly traded entity) existing immediately prior to the date of the Change in Control, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Participant; provided, however, “Good Reason” will not be deemed to exist unless (a) written notice of termination on account thereof is given by the Participant to the Company no later than sixty (60) days after the time at which the event or condition purportedly giving rise to Good Reason first occurs or arises; (b) if there exists (without regard to this clause (b)) an event or condition that constitutes Good Reason, the Company will have thirty (30) days from the date notice of such a termination is given to cure such event or condition and, if the Company does so, such event or condition will not constitute Good Reason hereunder and (c) if not cured, the Participant must resign from employment for a Good Reason event or condition within sixty (60) days following the last day of the Company’s cure period. Any good faith determination of “Good Reason” made by the Committee will be conclusive. The Participant’s mental or physical incapacity following the occurrence of an event described in above clauses will not affect the Participant’s ability to terminate employment for Good Reason.

2.31“Grant Date” means the date an Award is granted to a Participant pursuant to this Plan and as determined pursuant to Section 5 of this Plan.

2.32“Incentive Stock Option” means a right to purchase Common Stock granted to an Employee pursuant to Section 6 of this Plan that is designated as and intended to meet the requirements of an “incentive stock option” within the meaning of Section 422 of the Code.

2.33“Individual Agreement” has the meaning set forth in Section 2.12 of this Plan.

2.34“Individual Performance Goals” has the meaning set forth in Section 10.4 of this Plan.

2.35“Individual Performance Participants” has the meaning set forth in Section 10.4 of this Plan.

2.36“Initial Effective Date” has the meaning set forth in Section 1 of this Plan.

2.37“Maximum Payout” has the meaning set forth in Section 10.3 of this Plan.

2.38“Non-Employee Director” means a Director who is not an Employee.

2.39“Non-Employee Director Award” means any Non-Statutory Stock Option, Stock Appreciation Right or Full Value Award granted, whether singly, in combination, or in tandem, to an Eligible Recipient who is a Non-Employee Director, pursuant to such applicable terms, conditions and limitations as the Board or Committee may establish in accordance with this Plan, including any Non-Employee Director Option.

2.40“Non-Employee Director Option” means a Non-Statutory Stock Option granted to a Non-Employee Director pursuant to Section 11 of this Plan.

2.41“Non-Statutory Stock Option” means a right to purchase Common Stock granted to an Eligible Recipient pursuant to Section 6 of this Plan that is not intended to meet the requirements of or does not qualify as an Incentive Stock Option.

2.42“Option” means an Incentive Stock Option or a Non-Statutory Stock Option, including a Non-Employee Director Option.

2.43“Other Cash-Based Award” means an Award, denominated in cash, not otherwise described by the terms of this Plan, granted pursuant to Section 12 of this Plan.

2.44“Other Stock-Based Award” means an Award, denominated in Shares, not otherwise described by the terms of this Plan, granted pursuant to Section 12 of this Plan.

2.45“Participant” means an Eligible Recipient who receives one or more Awards under this Plan.

2.46“Participation Factor” has the meaning set forth in Section 10.2 of this Plan.

2.47“Performance Award” means a right granted to an Eligible Recipient pursuant to Section 9 of this Plan to receive an amount of cash, number of shares of Common Stock, or a combination of both, contingent upon and the value of which at the time it is payable is determined as a function of the extent of the achievement of one or more Performance Goals during a specified Performance Period or the achievement of other objectives during a specified period.

2.48“Performance-Based Compensation” means compensation under an Award the amount of which, or the entitlement to which, is contingent on the satisfaction of pre-established Performance Goals relating to a Performance Period.

2.49“Performance Goals” mean with respect to any applicable Award, one or more targets, goals or levels of attainment required to be achieved in terms of the specified Performance Measures during the specified Performance Period, as set forth in the related Award Agreement.

2.50“Performance Measure Element” has the meaning set forth in Section 13.1 of this Plan.

2.51“Performance Measures” mean: (a) any one or more of the measures described in Section 13.1 of this Plan on which the Performance Goals are based and which measures are approved by the Company’s stockholders pursuant to this Plan; and (b) any performance measures as determined by the Committee in its sole discretion and set forth in the applicable Award Agreement for purposes of determining the applicable Performance Goal.

2.52“Performance Period” means the period of time, as determined by the Committee, during which the Performance Goals must be met in order to determine the degree of payout or vesting with respect to an Award.

2.53“Period of Restriction” means the period when a Restricted Stock Award or Restricted Stock Units are subject to a substantial risk of forfeiture (based on the passage of time, the achievement of Performance Goals, or upon the occurrence of other events as determined by the Committee, in its discretion), as provided in Section 8 of this Plan.

2.54“Person” means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, governmental authority or any other entity of whatever nature.

2.55“Plan” means the Century Communities, Inc. 2017 Omnibus Incentive Plan, as may be amended from time to time.

2.56“Plan Year” means the Company’s fiscal year.

2.57“Previously Acquired Shares” means shares of Common Stock that are already owned by the Participant or, with respect to any Award, that are to be issued to the Participant upon the grant, exercise, vesting or settlement of such Award.

2.58“Prior Plan” means the Century Communities, Inc. 2013 Long-Term Incentive Plan, as amended and restated.

2.59“Restricted Stock Award” means an award of Common Stock granted to an Eligible Recipient pursuant to Section 8 of this Plan that is subject to the restrictions on transferability and the risk of forfeiture imposed by the provisions of such Section 8.

2.60“Restricted Stock Unit” means an award denominated in shares of Common Stock granted to an Eligible Recipient pursuant to Section 8 of this Plan.

2.61“Retirement,” means, unless otherwise defined in the Award Agreement or in an Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates, “Retirement” as defined from time to time for purposes of this Plan by the Committee or by the Company’s chief human resources officer or other person performing that function or, if not so defined, means voluntary termination of employment or service by the Participant on or after the date the Participant reaches age fifty-five (55) with the present intention to leave the Company’s industry or to leave the general workforce.

2.62“Scale Back” has the meaning set forth in Section 9.6.

2.63“Securities Act” means the Securities Act of 1933, as amended. Any reference to a section of the Securities Act herein will be deemed to include a reference to any applicable rules and regulations thereunder and any successor or amended section of the Securities Act.

2.64“Separation from Service” has the meaning set forth in Section 17.2(b) of this Plan.

2.65“Stock Appreciation Right” means a right granted to an Eligible Recipient pursuant to Section 7 of this Plan to receive a payment from the Company, in the form of shares of Common Stock, cash or a combination of both, equal to the difference between the Fair Market Value of one or more shares of Common Stock and the grant price of such shares under the terms of such Stock Appreciation Right.

2.66“Stock-Based Award” means any Award, denominated in Shares, made pursuant to this Plan, including Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Awards or Other Stock-Based Awards.

2.67“Subsidiary” means any corporation or other entity, whether domestic or foreign, in which the Company has or obtains, directly or indirectly, an interest of more than fifty percent (50%) by reason of stock ownership or otherwise.

2.68“Successor” has the meaning set forth in Section 17.1 of this Plan.

2.69“Target Payout” has the meaning set forth in Section 10.2 of this Plan.

2.70“Tax Date” means the date any withholding or employment related tax obligation arises under the Code or any Applicable Law for a Participant with respect to an Award.

2.71“Tax Laws” has the meaning set forth in Section 24.9 of this Plan.

3.	Plan Administration.

3.1The Committee. The Plan will be administered by the Committee. The Committee will act by majority approval of the members at a meeting or by unanimous written consent, and a majority of the members of the Committee will constitute a quorum. The Committee may exercise its duties, power and authority under this Plan in its sole discretion without the consent of any Participant or other party, unless this Plan specifically provides otherwise. The Committee will not be obligated to treat Participants or Eligible Recipients uniformly, and determinations made under this Plan may be made by the Committee selectively among Participants or Eligible Recipients, whether or not such Participants and Eligible Recipients are similarly situated. Each determination, interpretation or other action made or taken by the Committee pursuant to the provisions of this Plan will be final, conclusive and binding for all purposes and on all persons, and no member of the Committee will be liable for any action or determination made in good faith with respect to this Plan or any Award granted under this Plan.

3.2Authority of the Committee. In accordance with and subject to the provisions of this Plan, the Committee will have full and exclusive discretionary power and authority to take such actions as it deems necessary and advisable with respect to the administration of this Plan, including the following:

(a)To designate the Eligible Recipients to be selected as Participants;

(b)To determine the nature, extent and terms of the Awards to be made to each Participant, including the amount of cash or number of shares of Common Stock to be subject to each Award, any exercise price or grant price, the manner in which Awards will vest, become exercisable, settled or paid out and whether Awards will be granted in tandem with other Awards, and the form of Award Agreement, if any, evidencing such Award;

(c)To determine the time or times when Awards will be granted;

(d)To determine the duration of each Award;

(e)To determine the terms, restrictions and other conditions to which the grant of an Award or the payment or vesting of Awards may be subject;

(f)To construe and interpret this Plan and Awards granted under it, and to establish, amend and revoke rules and regulations for its administration and in so doing, to correct any defect, omission, or inconsistency in this Plan or in an Award Agreement, in a manner and to the extent it will deem necessary or expedient to make this Plan fully effective;

(g)To determine Fair Market Value in accordance with Section 2.28 of this Plan;

(h)To amend this Plan or any Award Agreement, as provided in this Plan;

(i)To adopt subplans or special provisions applicable to Awards regulated by the laws of a jurisdiction other than, and outside of, the United States, which except as otherwise provided in this Plan, such subplans or special provisions may take precedence over other provisions of this Plan;

(j)To authorize any person to execute on behalf of the Company any Award Agreement or any other instrument required to effect the grant of an Award previously granted by the Committee;

(k)To determine whether Awards will be settled in shares of Common Stock, cash or in any combination thereof;

(l)To determine whether Awards will be adjusted for dividend equivalents, with “Dividend Equivalents” meaning a credit, made at the discretion of the Committee, to the account of a Participant in an amount equal to the cash dividends paid on one share of Common Stock for each share of Common Stock represented by an Award held by such Participant, subject to Section 14 of this Plan and any other provision of this Plan and which Dividend Equivalents may be subject to the same conditions and restrictions as the Awards to which they attach and may be settled in the form of cash, shares of Common Stock, or in any combination of both; and

(m)To impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant or other subsequent transfers by the Participant of any shares of Common Stock, including restrictions under an insider trading policy, stock ownership guidelines, restrictions as to the use of a specified brokerage firm for such resales or other transfers and other restrictions designed to increase equity ownership by Participants or otherwise align the interests of Participants with the Company’s stockholders.

3.3Delegation. To the extent permitted by Applicable Law, the Committee may delegate to one or more of its members or to one or more officers of the Company or any Subsidiary or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this Plan. The Committee may, by resolution, authorize one or more directors of the Company or one or more officers of the Company to do one or both of the following on the same basis as can the Committee: (a) designate Eligible Recipients to be recipients of Awards pursuant to this Plan; and (b) determine the size of any such Awards; provided, however, that (x) the Committee will not delegate such responsibilities to any such director(s) or officer(s) for any Awards granted to an Eligible Recipient: (i) who is a Non-Employee Director, or who is subject to the reporting and liability provisions of Section 16 under the Exchange Act, or (ii) to whom authority to grant or amend Awards has been delegated hereunder; provided, further; that any delegation of administrative authority will only be permitted to the extent it is permissible under Applicable Law; (y) the resolution providing such authorization will set forth the type of Awards and total number of each type of Awards such director(s) or officer(s) may grant; and (z) such director(s) or officer(s) will report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated. At all times, the delegate appointed under this Section 3.3 will serve in such capacity at the pleasure of the Committee.

3.4No Re-pricing. Notwithstanding any other provision of this Plan other than Section 4.5 of this Plan, the Committee may not, without prior approval of the Company’s stockholders, seek to effect any re-pricing of any previously granted, “underwater” Option or Stock Appreciation Right by: (a) amending or modifying the terms of the Option or Stock Appreciation Right to lower the exercise price or grant price; (b) canceling the underwater Option or Stock Appreciation Right in exchange for (i) cash; (ii) replacement Options or Stock Appreciation Rights having a lower exercise price or grant price; or (iii) other Awards; or (c) repurchasing the underwater Options or Stock Appreciation Rights and granting new Awards under this Plan. For purposes of this Section 3.4, an Option or Stock Appreciation Right will be deemed to be “underwater” at any time when the Fair Market Value of the Common Stock is less than the exercise price of the Option or grant price of the Stock Appreciation Right.

3.5Participants Based Outside of the United States. In addition to the authority of the Committee under Section 3.2(i) and notwithstanding any other provision of this Plan, the Committee may, in its sole discretion, amend the terms of this Plan or Awards with respect to Participants resident outside of the United States or employed by a non-U.S. Subsidiary in order to comply with local legal requirements, to otherwise protect the Company’s or Subsidiary’s interests or to meet objectives of this Plan, and may, where appropriate, establish one or more sub-plans (including the adoption of any required rules and regulations) for the purposes of qualifying for preferred tax treatment under foreign tax laws. The Committee will have no authority, however, to take action pursuant to this Section 3.5: (a) to reserve shares of Common Stock or grant Awards in excess of the limitations provided in Section 4.1 of this Plan; (b) to effect any re-pricing in violation of Section 3.4 of this Plan; (c) to grant Options or Stock Appreciation Rights having an exercise price or grant price less than one hundred percent (100%) of the Fair Market Value of one share of Common Stock on the Grant Date in violation of Section 6.3 or Section 7.3 of this Plan; or (d) for which stockholder approval would then be required pursuant to Section 21.3 of this Plan.

4.	Shares Available for Issuance.

4.1Maximum Number of Shares Available. Subject to adjustment as provided in Section 4.5 of this Plan, the maximum number of shares of Common Stock that will be available for issuance under this Plan will be the sum of:

(a)2,481,000 shares of Common Stock; plus

(b)the number of shares of Common Stock remaining available for issuance under the Prior Plan but not subject to outstanding awards as of the Initial Effective Date; plus

(c)the number of additional shares of Common Stock subject to awards outstanding under the Prior Plan as of the Initial Effective Date but only to the extent that such outstanding awards are forfeited, cancelled, expire or otherwise terminate without the issuance of such shares of Common Stock after the Initial Effective Date.

4.2Limits on Incentive Stock Options and Non-Employee Director Awards. Notwithstanding any other provisions of this Plan to the contrary and subject to adjustment as provided in Section 4.5 of this Plan,

(a)the maximum aggregate number of shares of Common Stock that will be available for issuance pursuant to Incentive Stock Options under this Plan will be 2,481,000 shares; and

(b)the sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of Awards granted to a Non-Employee Director as compensation for services as a Non-Employee Director during any fiscal year of the Company may not exceed $400,000 (increased to $600,000 with respect to any Non-Employee Director serving as Chairman of the Board or Lead Independent Director or in the fiscal year of a non-employee Director's initial service as a Non-Employee Director) (with any compensation that is deferred counting towards this limit for the year in which the compensation is first earned, and not a later year of settlement).

4.3Accounting for Awards. Shares of Common Stock that are issued under this Plan or that are subject to outstanding Awards will be applied to reduce the maximum number of shares of Common Stock remaining available for issuance under this Plan; provided, however, that the full number of shares of Common Stock subject to a stock-settled Stock Appreciation Right or other Stock-Based Award will be counted against the shares authorized for issuance under this Plan, regardless of the number of shares actually issued upon settlement of such Stock Appreciation Right or other Stock-Based Award. Furthermore, any shares of Common Stock withheld to satisfy tax withholding obligations on Awards issued under this Plan, any shares of Common Stock withheld to pay the exercise price or grant price of Awards under this Plan and any shares of Common Stock not issued or delivered as a result of the “net exercise” of an outstanding Option pursuant to Section 6.5 or settlement of a Stock Appreciation Right in shares of Common Stock pursuant to Section 7.7 will be counted against the shares of Common Stock authorized for issuance under this Plan and will not be available again for grant under this Plan. Shares of Common Stock subject to Awards settled in cash will again be available for issuance pursuant to Awards granted under the Plan. Any shares of Common Stock repurchased by the Company on the open market using the proceeds from the exercise of an Award will not increase the number of shares of Common Stock available for future grant of Awards. Any shares of Common Stock related to Awards granted under this Plan or under the Prior Plan that terminate by expiration, forfeiture, cancellation or otherwise without the issuance of the shares of Common Stock, will be available again for grant under this Plan and correspondingly increase the total number of shares of Common Stock available for issuance under this Plan under Section 4.1. To the extent permitted by Applicable Law, shares of Common Stock issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or a Subsidiary pursuant to Section 22 of this Plan or otherwise will not be counted against shares of Common Stock available for issuance pursuant to this Plan. The shares of Common Stock available for issuance under this Plan may be authorized and unissued shares or treasury shares.

4.4Annual Awards Limits. The following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”), as adjusted pursuant to Section 4.5, will apply to grants of Awards under this Plan:

(a)The maximum aggregate number of shares of Common Stock subject to Options and Stock Appreciation Rights granted to any one Participant in any one Plan Year will be 500,000 shares.

(b)The maximum aggregate number of shares of Common Stock subject to Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units granted to any one Participant in any one Plan Year will be 500,000 shares.

(c)The maximum aggregate dollar amount or number of shares of Common Stock granted with respect to Performance Awards to any one Participant in any one Plan Year may not exceed $15,000,000 or 750,000 shares, determined as of the date of payout.

(d)The maximum aggregate dollar amount granted with respect to Annual Performance Cash Awards to any one Participant in any one Plan Year may not exceed $15,000,000, determined as of the date of payout.

(e)The maximum aggregate dollar amount granted with respect to Other Cash-Based Awards to any one Participant in any one Plan Year may not exceed $15,000,000, determined as of the date of payout.

(f)The maximum aggregate number of shares of Common Stock granted with respect to Other Stock-Based Awards to any one Participant in any one Plan Year may not exceed 500,000 shares, determined as of the date of payout.

In applying the foregoing Annual Award Limits, (i) all Awards of the specified type granted to the same person in the same Plan Year will be aggregated and made subject to one limit; (ii) the Share limits applicable to Options and Stock Appreciation Rights refer to the number of Shares underlying such Awards; (iii) the Share limit under clause (b), (c) or (f) refers to the maximum number of Shares that may be delivered, or the value of which could be paid in cash or other property, under an Award or Awards of the type specified in clause (b), (c) or (f) assuming a maximum payout; (iv) Awards other than Cash-Based Awards that are settled in cash will count against the applicable share limit under clause (a), (b), (c) or (f) and not against the dollar limit under clause (d) or (e); and (v) the dollar limit under clause (d) or (e) refers to the maximum dollar amount payable under an Award or Awards of the type specified in clause (d) or (e) assuming a maximum payout.

4.5Adjustments to Shares and Awards.

(a)In the event of any reorganization, merger, consolidation, recapitalization, liquidation, reclassification, stock dividend, stock split, combination of shares, rights offering, divestiture or extraordinary dividend (including a spin off) or any other similar change in the corporate structure or shares of Common Stock the Company, the Committee (or, if the Company is not the surviving corporation in any such transaction, the board of directors of the surviving corporation) will make appropriate adjustment or substitutions (which determination will be conclusive) as to: (i) the number and kind of securities or other property (including cash) available for issuance or payment under this Plan, including the sub-limits set forth in Section 4.2 of this Plan and the Annual Award Limits set forth in Section 4.4 of this Plan, and (ii) in order to prevent dilution or enlargement of the rights of Participants, the number and kind of securities or other property (including cash) subject to outstanding Awards and the exercise price of outstanding Awards; provided, however, that this Section 4.5 will not limit the authority of the Committee to take action pursuant to Section 17 of this Plan in the event of a Change in Control. The determination of the Committee as to the foregoing adjustments and/or substitutions, if any, will be final, conclusive and binding on Participants under this Plan.

(b)Notwithstanding anything else herein to the contrary, without affecting the number of shares of Common Stock reserved or available hereunder, the limits in Section 4.2 of this Plan and the Annual Award Limits in Section 4.4 of this Plan, the Committee may authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition of property or stock or reorganization upon such terms and conditions as it may deem appropriate, subject to compliance with the rules under Sections 422, 424 and 409A of the Code, as and where applicable.

4.6Minimum Vesting Requirements on Awards. Notwithstanding any other provision of the Plan to the contrary, but subject to Sections 4.5 and 17 of the Plan, equity-based Awards granted under the Plan will vest no earlier than the one-year anniversary of the date the Award is granted and any Awards under this Plan which vest upon the attainment of Performance Goals will provide for a Performance Period of at least one (1) year; provided, however, that, notwithstanding the foregoing, Awards that result in the issuance of an aggregate of up to five percent (5%) of the shares of Common Stock available pursuant to Section 4.1 above may be granted to any one or more eligible Directors, Consultants or Employees without respect to such minimum vesting condition. Nothing in this Section 4.6 shall preclude the Committee from taking action, in its sole discretion, to accelerate the vesting of any Award in connection with or following a Participant’s death, disability, termination of employment or service or otherwise, or the consummation of a Change in Control. This Section 4.6 will be inapplicable to (i) substitute Awards granted pursuant to Section 22 of this Plan, (ii) shares delivered in lieu of fully vested cash Awards and (iii) Awards to Non-Employee Directors that vest on the earlier of the one year anniversary of the date of grant or the next annual meeting of stockholders which is at least 50 weeks after the immediately preceding year’s annual meeting.

4.7Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of this Plan, if a Participant is subject to Section 16 of the Exchange Act, this Plan, the Award, and the Award Agreement will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule, and such additional limitations will be deemed to be incorporated by reference into such Award to the extent permitted by Applicable Law.

4.8Holding Period. Any net shares of Common Stock received by a Participant who is an executive officer of the Company in connection with the vesting or settlement of an Award under this Plan must be held by the Participant for at least twelve (12) months after such vesting or settlement, or if earlier, termination of employment or satisfaction of the Company’s stock ownership guidelines, as in effect from time to time. For purposes of this Section 4.8, “net shares” means those shares of Common Stock that remain after shares of Common Stock are sold or netted to pay the exercise price of Options or grant price of Stock Appreciation Rights (if applicable) and any applicable withholding or estimated taxes associated with an Option, Restricted Stock Award, Restricted Stock Unit, Deferred Stock Unit, or other Stock-Based Award under this Plan.

5.	Participation.

Participants in this Plan will be those Eligible Recipients who, in the judgment of the Committee, have contributed, are contributing or are expected to contribute to the achievement of the objectives of the Company or its Subsidiaries. Eligible Recipients may be granted from time to time one or more Awards, singly or in combination or in tandem with other Awards, as may be determined by the Committee in its sole discretion. Awards will be deemed to be granted as of the date specified in the grant resolution of the Committee, which date will be the Grant Date of any related Award Agreement with the Participant.

Options.

6.1Grant. An Eligible Recipient may be granted one or more Options under this Plan, and such Options will be subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion. Incentive Stock Options may be granted solely to eligible Employees of the Company or a Subsidiary. The Committee may designate whether an Option is to be considered an Incentive Stock Option or a Non-Statutory Stock Option. To the extent that any Incentive Stock Option (or portion thereof) granted under this Plan ceases for any reason to qualify as an “incentive stock option” for purposes of Section 422 of the Code, such Incentive Stock Option (or portion thereof) will continue to be outstanding for purposes of this Plan but will thereafter be deemed to be a Non-Statutory Stock Option. Options may be granted to an Eligible Recipient for services provided to a Subsidiary only if, with respect to such Eligible Recipient, the underlying shares of Common Stock constitute “service recipient stock” within the meaning of Treas. Reg. Sec. 1.409A-1(b)(5)(iii) promulgated under the Code.

6.2Award Agreement. Each Option grant will be evidenced by an Award Agreement that will specify the exercise price of the Option, the maximum duration of the Option, the number of shares of Common Stock to which the Option pertains, the conditions upon which an Option will become vested and exercisable, and such other provisions as the Committee will determine which are not inconsistent with the terms of this Plan. The Award Agreement also will specify whether the Option is intended to be an Incentive Stock Option or a Non-Statutory Stock Option.

6.3Exercise Price. The per share price to be paid by a Participant upon exercise of an Option granted pursuant to this Section 6 will be determined by the Committee in its sole discretion at the time of the Option grant; provided, however, that such price will not be less than one hundred percent (100%) of the Fair Market Value of one share of Common Stock on the Grant Date (one hundred and ten percent (110%) of the Fair Market Value if, at the time the Incentive Stock Option is granted, the Participant owns, directly or indirectly, more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any parent or subsidiary corporation of the Company).

6.4Exercisability and Duration. An Option will become exercisable at such times and in such installments and upon such terms and conditions as may be determined by the Committee in its sole discretion at the time of grant, including (a) the achievement of one or more of the Performance Goals; or that (b) the Participant remain in the continuous employment or service with the Company or a Subsidiary for a certain period; provided, however, that no Option may be exercisable after ten (10) years from the Grant Date (five (5) years from the Grant Date in the case of an Incentive Stock Option that is granted to a Participant who owns, directly or indirectly, more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any parent or subsidiary corporation of the Company). Notwithstanding the foregoing, if the exercise of an Option that is exercisable in accordance with its terms is prevented by the provisions of Section 19 of this Plan, the Option will remain exercisable until thirty (30) days after the date such exercise first would no longer be prevented by such provisions, but in any event no later than the expiration date of such Option.

6.5Payment of Exercise Price.

(a)The total purchase price of the shares of Common Stock to be purchased upon exercise of an Option will be paid entirely in cash (including check, bank draft or money order); provided, however, that the Committee, in its sole discretion and upon terms and conditions established by the Committee, may allow such payments to be made, in whole or in part, by (i) tender of a Broker Exercise Notice; (ii) by tender, either by actual delivery or attestation as to ownership, of Previously Acquired Shares; (iii) a “net exercise” of the Option (as further described in paragraph (b), below); (iv) by a combination of such methods; or (v) any other method approved or accepted by the Committee in its sole discretion. Notwithstanding any other provision of this Plan to the contrary, no Participant who is a Director or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act will be permitted to make payment with respect to any Awards granted under this Plan, or continue any extension of credit with respect to such payment with a loan from the Company or a loan arranged by the Company in violation of Section 13(k) of the Exchange Act.

(b)In the case of a “net exercise” of an Option, the Company will not require a payment of the exercise price of the Option from the Participant but will reduce the number of shares of Common Stock issued upon the exercise by the largest number of whole shares that has a Fair Market Value on the exercise date that does not exceed the aggregate exercise price for the shares exercised under this method. Shares of Common Stock will no longer be outstanding under an Option (and will therefore not thereafter be exercisable) following the exercise of such Option to the extent of (i) shares used to pay the exercise price of an Option under the “net exercise,” (ii) shares actually delivered to the Participant as a result of such exercise and (iii) any shares withheld for purposes of tax withholding pursuant to Section 16 of this Plan.

(c)For purposes of such payment, Previously Acquired Shares tendered or covered by an attestation will be valued at their Fair Market Value on the exercise date of the Option.

6.6Manner of Exercise. An Option may be exercised by a Participant in whole or in part from time to time, subject to the conditions contained in this Plan and in the Award Agreement evidencing such Option, by delivery in person, by facsimile or electronic transmission or through the mail of written notice of exercise to the Company at its principal executive office (or to the Company’s designee as may be established from time to time by the Company and communicated to Participants) and by paying in full the total exercise price for the shares of Common Stock to be purchased in accordance with Section 6.5 of this Plan.

7.	Stock Appreciation Rights.

7.1Grant. An Eligible Recipient may be granted one or more Stock Appreciation Rights under this Plan, and such Stock Appreciation Rights will be subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion. Stock Appreciation Rights may be granted to an Eligible Recipient for services provided to a Subsidiary only if, with respect to such Eligible Recipient, the underlying shares of Common Stock constitute “service recipient stock” within the meaning of Treas. Reg. Sec. 1.409A-1(b)(5)(iii) promulgated under the Code.

7.2Award Agreement. Each Stock Appreciation Right will be evidenced by an Award Agreement that will specify the grant price of the Stock Appreciation Right, the term of the Stock Appreciation Right, and such other provisions as the Committee will determine which are not inconsistent with the terms of this Plan.

7.3Grant Price. The grant price of a Stock Appreciation Right will be determined by the Committee, in its discretion, at the Grant Date; provided, however, that such price may not be less than one hundred percent (100%) of the Fair Market Value of one share of Common Stock on the Grant Date.

7.4Exercisability and Duration. A Stock Appreciation Right will become exercisable at such times and in such installments as may be determined by the Committee in its sole discretion at the time of grant; provided, however, that no Stock Appreciation Right may be exercisable after ten (10) years from its Grant Date. Notwithstanding the foregoing, if the exercise of a Stock Appreciation Right that is exercisable in accordance with its terms is prevented by the provisions of Section 19 of this Plan, the Stock Appreciation Right will remain exercisable until thirty (30) days after the date such exercise first would no longer be prevented by such provisions, but in any event no later than the expiration date of such Stock Appreciation Right.

7.5Manner of Exercise. A Stock Appreciation Right will be exercised by giving notice in the same manner as for Options, as set forth in Section 6.6 of this Plan, subject to any other terms and conditions consistent with the other provisions of this Plan as may be determined by the Committee in its sole discretion.

7.6Settlement. Upon the exercise of a Stock Appreciation Right, a Participant will be entitled to ~~vote~~receive payment from the Company in an amount determined by multiplying:

(a)The excess of the Fair Market Value of a share of Common Stock on the date of exercise over the per share grant price; by

(b)The number of shares of Common Stock with respect to which the Stock Appreciation Right is exercised.

7.7Form of Payment. Payment, if ~~personally present~~any, with respect to a Stock Appreciation Right settled in accordance with Section 7.6 of this Plan will be made in accordance with the terms of the applicable Award Agreement, in cash, shares of Common Stock or a combination thereof, as the Committee determines.

8.	Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units.

8.1Grant. An Eligible Recipient may be granted one or more Restricted Stock Awards, Restricted Stock Units or Deferred Stock Units under this Plan, and ~~acting~~such Awards will be subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion. Restricted Stock Units will be similar to Restricted Stock Awards except that no shares of Common Stock are actually awarded to the Participant on the Grant Date of the Restricted Stock Units. Restricted Stock Units and Deferred Stock Units will be denominated in shares of Common Stock but paid in cash, shares of Common Stock or a combination of cash and shares of Common Stock as the Committee, in its sole discretion, will determine, and as provided in the Award Agreement.

8.2Award Agreement. Each Restricted Stock Award, Restricted Stock Unit or Deferred Stock Unit grant will be evidenced by an Award Agreement that will specify the type of Award, the period(s) of restriction, the number of shares of restricted Common Stock, or the number of Restricted Stock Units or Deferred Stock Units granted, and such other provisions as the Committee will determine that are not inconsistent with the terms of this Plan.

8.3Conditions and Restrictions. Subject to the terms and conditions of this Plan, including Sections 4.6 and 4.8 of this Plan, the Committee will impose such conditions or restrictions on a Restricted Stock Award, Restricted Stock Units or Deferred Stock Units granted pursuant to this Plan as it may deem advisable including a requirement that Participants pay a stipulated purchase price for each share of Common Stock underlying a Restricted Stock Award, Restricted Stock Unit or Deferred Stock Unit, restrictions based upon the achievement of specific Performance Goals, time-based restrictions on vesting following the attainment of the Performance Goals, time-based restrictions, restrictions under Applicable Laws or holding requirements or sale restrictions placed on the shares of Common Stock by the Company upon vesting of such Restricted Stock Award, Restricted Stock Units or Deferred Stock Units.

8.4Voting Rights. Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable Law, as determined by the Committee, Participants holding a Restricted Stock Award granted hereunder will be granted the right to exercise full voting rights with respect to the shares of Common Stock underlying such Restricted Stock Award during the Period of Restriction. A Participant will have no voting rights with respect to any Restricted Stock Units or Deferred Stock Units granted hereunder.

8.5Dividend Rights.

(a)Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable Law, as determined by the Committee, Participants holding a Restricted Stock Award granted hereunder will have the same dividend rights as the Company’s other stockholders. Notwithstanding the foregoing any such dividends as to a Restricted Stock Award that is subject to vesting requirements will be subject to forfeiture and termination to the same extent as the Restricted Stock Award to which such dividends relate and the Award Agreement may require that any cash dividends be reinvested in additional shares of Common Stock subject to the Restricted Stock Award and subject to the same conditions and restrictions as the Restricted Stock Award with respect to which the dividends were paid. In no event will dividends with respect to Restricted Stock Awards that are subject to vesting be paid or distributed until the vesting provisions of such Restricted Stock Award lapse.

(b)Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable Law, as determined by the Committee, prior to settlement or forfeiture, any Restricted Stock Units or Deferred Stock Unit awarded under this Plan may, at the Committee’s discretion, carry with it a right to Dividend Equivalents. Such right entitles the Participant to be credited with any amount equal to all cash dividends paid on one share of Common Stock while the Restricted Stock Unit or Deferred Stock Unit is outstanding. Dividend Equivalents may be converted into additional Restricted Stock Units or Deferred Stock Units and may (and will, to the extent required below) be made subject to the same conditions and restrictions as the Restricted Stock Units or Deferred Stock Units to which they attach. Settlement of Dividend Equivalents may be made in the form of cash, in the form of shares of Common Stock, or in a combination of both. Dividend Equivalents as to Restricted Stock Units or Deferred Stock Units will be subject to forfeiture and termination to the same extent as the corresponding Restricted Stock Units or Deferred Stock Units as to which the Dividend Equivalents relate. In no event will Participants holding Restricted Stock Units or Deferred Stock Units receive any Dividend Equivalents on such Restricted Stock Units or Deferred Stock Units until the vesting provisions of such Restricted Stock Units or Deferred Stock Units lapse.

8.6Enforcement of Restrictions. To enforce the restrictions referred to in this Section 8, the Committee may place a legend on the stock certificates representing Restricted Stock Awards referring to such restrictions and may require the Participant, until the restrictions have lapsed, to keep the stock certificates, together with duly endorsed stock powers, in the custody of the Company or its transfer agent, or to maintain evidence of stock ownership, together with duly endorsed stock powers, in a certificateless book entry stock account with the Company’s transfer agent. Alternatively, Restricted Stock Awards may be held in non-certificated form pursuant to such terms and conditions as the Company may establish with its registrar and transfer agent or any third-party administrator designated by the Company to hold Restricted Stock Awards on behalf of Participants.

8.7Lapse of Restrictions; Settlement. Except as otherwise provided in this Plan, including without limitation this Section 8 or Section 4.8 and 18.4 of this Plan, shares of Common Stock underlying a Restricted Stock Award will become freely transferable by the Participant after all conditions and restrictions applicable to such shares have been satisfied or lapse (including satisfaction of any applicable tax withholding obligations). Upon the vesting of a Restricted Stock Unit, the Restricted Stock Unit will be settled, subject to the terms and conditions of the applicable Award Agreement, (a) in cash, based upon the Fair Market Value of the vested underlying shares of Common Stock, (b) in shares of Common Stock or (c) a combination thereof, as provided in the Award Agreement, except to the extent that a Participant has properly elected to defer income that may be attributable to a Restricted Stock Unit under a Company deferred compensation plan or arrangement.

8.8Section 83(b) Election for Restricted Stock Award. If a Participant makes an election pursuant to Section 83(b) of the Code with respect to a Restricted Stock Award, the Participant must file, within thirty (30) days following the Grant Date of the Restricted Stock Award, a copy of such election with the Company and with the Internal Revenue Service, in accordance with the regulations under Section 83 of the Code. The Committee may provide in the Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making or refraining from making an election with respect to the award under Section 83(b) of the Code.

9.	Performance Awards.

9.1Grant. An Eligible Recipient may be granted one or more Performance Awards under this Plan, and such Awards will be subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, including the achievement of one or more Performance Goals.

9.2Award Agreement. Each Performance Award will be evidenced by an Award Agreement that will specify the amount of cash, shares of Common Stock, other Awards, or combination of both to be received by the Participant upon payout of the Performance Award, any Performance Goals upon which the Performance Award is subject, any Performance Period during which any Performance Goals must be achieved and such other provisions as the Committee will determine which are not inconsistent with the terms of this Plan.

9.3Vesting. Subject to the terms of this Plan, the Committee may impose such restrictions or conditions, not inconsistent with the provisions of this Plan, to the vesting of such Performance Awards as it deems appropriate, including the achievement of one or more of the Performance Goals.

9.4Earning of Performance Award Payment. Subject to the terms of this Plan and the Award Agreement, after the applicable Performance Period has ended, the holder of Performance Awards will be entitled to receive payout on the value and number of Performance Awards earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved and such other restrictions or conditions imposed on the vesting and payout of the Performance Awards has been satisfied.

9.5Reassignment. If prior to the end of a Performance Period, but after the conclusion of one year of the Performance Period, a Participant holding Performance Awards is reassigned to a position with the Company or any Subsidiary, and that position is not eligible to participate in such a Performance Award, but the Participant does not terminate employment or service with the Company or any Subsidiary, as the case may be, the Committee may, in its sole discretion: (a) cause shares of Common Stock to be delivered or payment made with respect to the Participant’s Performance Award in accordance with Section 9.7 of this Plan, but only if otherwise earned for the entire Performance Period or (b) cause shares of Common Stock to be delivered or payment made with respect to the Participant’s Performance Award in accordance with Section 9.7 of this Plan, but only if otherwise earned for the entire Performance Period and only with respect to the portion of the applicable Performance Period completed at the date of such reassignment, with proration based on the number of months or years such Participant served in the prior position during the Performance Period.

9.6Committee Discretion to Scale Back Awards. At any time during a Performance Period of more than one fiscal year, the Committee may, in its discretion, cancel a portion of a Performance Award prior to the conclusion of the Performance Period (a “Scale Back”), provided that:

(a)the Performance Award has not yet vested;

(b)based on financial information contained in the financial statements or similar internal reports of the Company or any Subsidiary, as the case may be, the Committee determines that the Performance Goals for the Performance Period cannot be achieved at the maximum levels established at the time of grant;

(c)once a Performance Award is Scaled Back, it may not again be increased to add or recover a Performance Award that was canceled; and

(d)Performance Awards canceled in a Scale Back will again be available to the Committee for grant of new Performance Awards for any future Performance Period. This provision will not be used in any manner that could have the effect of repricing a previous Performance Award.

9.7Form and Timing of Performance Award Payment. Subject to the terms of this Plan, after the applicable Performance Period has ended, the holder of Performance Awards will be entitled to receive payment on the value and number of Performance Awards earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved. Payment of earned Performance Awards will be as determined by the Committee and as evidenced in the Award Agreement. Subject to the terms of this Plan, the Committee, in its sole discretion, may pay earned Performance Awards in the form of cash, in shares of Common Stock or other Awards (or in a combination thereof) equal to the value of the earned Performance Awards at the close of the applicable Performance Period. Payment of any Performance Award will be made as soon as practicable after the Committee has determined the extent to which the applicable Performance Goals have been achieved and not later than the fifteenth (15^th) day of the third (3^rd) month immediately following the later of the end of the Company’s fiscal year in which the Performance Period ends and any additional vesting restrictions are satisfied or the end of the calendar year in which the Performance Period ends and any additional vesting restrictions are satisfied, except to the extent that a Participant has properly elected to defer payment that may be attributable to a Performance Award under a Company deferred compensation plan or arrangement. The determination of the Committee with respect to the form and time of payment of Performance Awards will be set forth in the Award Agreement pertaining to the grant of the Performance Award. Any shares of Common Stock or other Awards issued in payment of earned Performance Awards may be granted subject to any restrictions deemed appropriate by the Committee, including that the Participant remain in the continuous employment or service with the Company or a Subsidiary for a certain period.

9.8Dividend Rights. Participants holding Performance Awards granted under this Plan may receive cash dividends or Dividend Equivalents based on the dividends declared on shares of Common Stock that are subject to such Performance Awards during the period between the date that such Performance Awards are granted and the date such Performance Awards are settled; provided, however, that such cash dividends or Dividend Equivalents may not be paid out until the vesting provisions of such Performance Award lapse.

10.	Annual Performance Cash Awards.

10.1Grant. Subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, the Committee, at any time and from time to time, may grant to Eligible Recipients Awards denominated in cash in such amounts and upon such terms as the Committee may determine, based on the achievement of specified Performance Goals for annual periods or other time periods as determined by the Committee (the “Annual ~~Meeting~~Performance Cash Awards”).

10.2Target Payout. The target amount that may be paid with respect to an Annual Performance Cash Award (the “Target Payout”) may be determined by the Committee pursuant to Section 13.2 of ~~Stockholders~~this Plan and may be based on a percentage of ~~Century Communities, Inc.~~a Participant’s actual annual base compensation at the time of grant (“Participation Factor”), within the range established by the Committee for each Participant and subject to adjustment as provided in the second to last sentence of this Section 10.2. The Chief Executive Officer may approve modifications to the Participation Factor for any Participant, if such modification is based on level of responsibility. The Committee may establish curves, matrices or other measurements for prorating the amount of payments for achievement of Performance Goals at less or greater than the Target Payout.

10.3Maximum Payout. The Committee also may establish a maximum potential payout amount (the “Maximum Payout”) with respect to an Annual Performance Cash Award in the event Performance Goals are exceeded by an amount established by the Committee at the time Performance Goals are established. The Committee may establish curves, matrices or other measurements for prorating the amount of payments for achievement of Performance Goals at greater than the Target Payout but less than the Maximum Payout.

10.4Individual Performance Goals. At the time an Annual Performance Cash Award is granted, the Committee may provide for an increase in the Target Payout and the Maximum Payout (as either may be prorated in accordance with Sections 10.2 and 10.3 of this Plan) for selected Participants (“Individual Performance Participants”) to reflect the achievement of individual performance goals (“Individual Performance Goals”) established at that time by the Committee. The Committee will have the discretion to reduce by an amount up to 100% the amount that would otherwise be paid under the payout formula to an Individual Performance Participant based on the Committee’s evaluation of the individual’s achievement of the Individual Performance Goals.

10.5Payment. Payment of any earned Annual Performance Cash Awards will be made as soon as possible after the Committee has determined the extent to which the applicable Performance Goals and Individual Performance Goals have been achieved and not later than the fifteenth (15^th) day of the third (3^rd) month immediately following the later of the end of the Company’s fiscal year in which the Performance Period ends or the end of the calendar year in which the Performance Period ends, except to the extent that a Participant has properly elected to defer payment that may be attributable to an Annual Performance Cash Award under a Company deferred compensation plan or arrangement.

11.	Non-Employee Director Awards.

11.1Automatic and Non-Discretionary Awards to Non-Employee Directors. Subject to such terms and conditions, consistent with the other provisions of this Plan, the Committee at any time and from time to time may approve resolutions providing for the automatic grant to Non-Employee Directors of Non-Employee Director Awards granted under this Plan and may grant to Non-Employee Directors such discretionary Non-Employee Director Awards on such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, and set forth in an applicable Award Agreement. Such Non-Employee Director Awards will not be subject to management’s discretion.

11.2Deferral of Award Payment; Election to Receive Award in Lieu of Retainers. The Committee may permit Non-Employee Directors the opportunity to defer the payment of an Award pursuant to such terms and conditions as the Committee may prescribe from time to time. In addition, the Committee may permit Non-Employee Directors to elect to receive, pursuant to the procedures established by the Board or a committee of the Board, all or any portion of their annual retainers, meeting fees, or other fees in Restricted Stock, Restricted Stock Units, Deferred Stock Units or other Stock-Based Awards as contemplated by this Plan in lieu of cash.

12.	Other Cash-Based Awards and Other Stock-Based Awards.

12.1Other Cash-Based Awards. Subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, the Committee, at any time and from time to time, may grant Other Cash-Based Awards to Eligible Recipients not otherwise described by the terms of this Plan in such amounts and upon such terms as the Committee may determine.

12.2Other Stock-Based Awards. Subject to such terms and conditions, consistent with the other provisions of this Plan, as may be determined by the Committee in its sole discretion, the Committee may grant Other Stock-Based Awards to Eligible Recipients not otherwise described by the terms of this Plan (including the grant or offer for sale of unrestricted shares of Common Stock) in such amounts and subject to such terms and conditions as the Committee will determine. Such Awards may involve the transfer of actual shares of Common Stock to Participants as a bonus or in lieu of obligations to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, or payment in cash or otherwise of amounts based on the value of shares of Common Stock, and may include Awards designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.

12.3Value of Other Cash-Based Awards and Other Stock-Based Awards. Each Other Cash-Based Award will specify a payment amount or payment range as determined by the Committee. Each Other Stock-Based Award will be expressed in terms of shares of Common Stock or units based on shares of Common Stock, as determined by the Committee. The Committee may establish Performance Goals in its discretion for any Other Cash-Based Award or any Other Stock-Based Award. If the Committee exercises its discretion to establish Performance Goals for any such Awards, the number or value of Other Cash-Based Awards or Other Stock-Based Awards that will be paid out to the Participant will depend on the extent to which the Performance Goals are met.

12.4Payment of Other Cash-Based Awards and Other Stock-Based Awards. Payment, if any, with respect to an Other Cash-Based Award or an Other Stock-Based Award will be made in accordance with the terms of the Award, in cash for any Other Cash-Based Award and in cash or shares of Common Stock for any Other Stock-Based Award, as the Committee determines, except to the extent that a Participant has properly elected to defer payment that may be attributable to an Other Cash-Based Award or Other Stock-Based Award under a Company deferred compensation plan or arrangement.

13.	Performance-Based Compensation.

13.1Performance Measures. The Performance Goals may include one or more specified objective Performance Measures that are based on any of the following Performance Measure elements as determined by the Committee (each, a “Performance Measure Element”): sales and revenue measures: gross revenue, sales allowances, net revenue, invoiced revenue, collected revenue, revenues from new products, bad debts, home closings, orders, backlog, annual or multi-year “net-back” sales”; expense measures: direct material costs, direct labor costs, indirect labor costs, direct manufacturing costs, indirect manufacturing costs, cost of goods sold, sales, general and administrative expenses, operating expenses, non-cash expenses, tax expense, non-operating expenses, total expenses; profitability and productivity measures: gross margin, net operating income, EBITDA (earnings before interest, taxes, depreciation and amortization), EBIT (earnings before interest and taxes), net operating income after taxes (NOPAT), net income, net income before taxes, net cash flow, net cash flow from operations, maintenance or improvement of profit margins; asset utilization and effectiveness measures: cash, excess cash, accounts receivable, inventory (WIP or finished goods), inventory days on hand, days sales outstanding, current assets, working capital, total capital, fixed assets, total assets, change in net assets, standard hours, plant utilization, purchase price variance, manufacturing overhead variance; debt and equity measures: accounts payable, current accrued liabilities, total current liabilities, total debt, debt principal payments, net current borrowings, total long-term debt, credit rating, retained earnings, total preferred equity, total common equity, total equity, cash-to-debt, interest coverage, liquidity; stockholder and return measures: earnings per share (diluted and fully diluted), stock price, dividends, shares repurchased, total return to stockholders, price/earnings ratio, market capitalization, book value, debt coverage ratios, return on assets, return on equity, return on invested capital, economic profit (for example, economic value added); customer and market measures: customer satisfaction, customer retention, customer service/care, brand awareness and perception, market share, warranty rates, product quality, inventory, strategic business objectives, introduction of new products, procurement of land/well located lots, mortgage capture rates, acquisition/entrance into new markets, land and other asset acquisitions, strategic asset sales or acquisitions, improvements in capital structure; organizational and employee measures: headcount, employee performance, employee productivity, standard hours, employee engagement/satisfaction, employee turnover, employee diversity, safety, satisfactory completion of major project or organizational initiative, supervision of litigation. Any Performance Measure Element can be a Performance Measure. In addition, any of the Performance Measure Element(s) can be used in an algebraic formula (e.g., averaged over a period, combined into a ratio, compared to a budget or standard, compared to previous periods or other formulaic combinations) based on the Performance Measure Elements to create a Performance Measure. Any Performance Measure(s) may be used to measure the performance of the Company or Subsidiary as a whole or any division or business unit of the Company, product or product group, region or territory, or Subsidiary, or any combination thereof, as the Committee may deem appropriate. Any Performance Measure(s) can be compared to the performance of a peer group or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select any Performance Measure(s) above as compared to various stock market indices. The Committee also has the authority to provide for accelerated vesting of any Award based on the achievement of Performance Goals pursuant to any Performance Measure(s) specified in this Section 13.1.

13.2Establishment of Performance Goals. Unless otherwise determined by the Committee, any Award that is intended to qualify as Performance-Based Compensation will be granted, and Performance Goals for such an Award will be established, by the Committee in writing not later than ninety (90) days after the commencement of the Performance Period to which the Performance Goals relate; provided, however, that the outcome is substantially uncertain at the time the Committee establishes the Performance Goal; and providedfurther that in no event will a Performance Goal be considered to be pre-established if it is established after twenty-five percent (25%) of the Performance Period (as scheduled in good faith at the time the Performance Goal is established) has elapsed.

13.3Certification of Payment. Before any payment is made in connection with any Award that is intended to qualify as Performance-Based Compensation, the Committee must certify in writing, as reflected in the minutes, that the Performance Goals established with respect to such Award have been achieved.

13.4Evaluation of Performance. The Committee may provide in any such Award Agreement including Performance Goals, or in applicable resolutions, that any evaluation of performance may include or exclude any event that occurs during a Performance Period as determined appropriate by the Committee, including: (a) items related to a change in accounting principles; (b) items relating to financing activities; (c) expenses for restructuring or productivity initiatives; (d) other non-operating items; (e) items related to acquisitions; (f) items attributable to the business operations of any entity acquired by the Company during the Performance Period; (g) items related to the disposal of a business or segment of a business; (h) items related to discontinued operations that do not qualify as a segment of a business under applicable accounting standards; (i) items attributable to any stock dividend, stock split, combination or exchange of stock occurring during the Performance Period; (j) any other items of significant income or expense which are determined to be appropriate adjustments; (k) items relating to unusual or extraordinary corporate transactions, events or developments; (l) items related to amortization of acquired intangible assets; (m) items that are outside the scope of the Company’s core, on-going business activities; (n) items related to acquired in-process research and development; (o) items relating to changes in tax laws; (p) items relating to major licensing or partnership arrangements; (q) items relating to asset impairment charges; (r) items relating to gains or losses for litigation, arbitration and contractual settlements; (s) foreign exchange gains and losses; or (t) items relating to any other unusual or nonrecurring events or changes in applicable laws, accounting principles or business conditions.

13.5Adjustment of Performance Goals, Performance Periods or other Vesting Criteria. Subject to Section 13.6 of this Plan, the Committee may amend or modify the vesting criteria (including any Performance Goals, Performance Measures or Performance Periods) of any outstanding Awards based in whole or in part on the financial performance of the Company (or any Subsidiary or division, business unit or other sub-unit thereof) in recognition of unusual or nonrecurring events (including the events described in Sections 13.4 or 4.5(a) of this Plan) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if any, will be final, conclusive and binding on Participants under this Plan.

13.6Adjustment of Performance-Based Compensation. The Committee retains the discretion to adjust Awards that are intended to qualify as Performance-Based Compensation either upward or downward, either on a formula or discretionary basis or any combination, as the Committee determines.

13.7Committee Discretion. In the event that applicable tax or securities laws change to permit Committee discretion to alter the governing Performance Measures without obtaining stockholder approval of such changes, the Committee will have sole discretion to make such changes without obtaining stockholder approval. In addition, the Committee may grant Performance Awards based on Performance Measures other than those set forth in Section 13.1 of this Plan.

14.	Dividend Equivalents.

Subject to the provisions of this Plan and any Award Agreement, any Participant selected by the Committee may be granted Dividend Equivalents based on the dividends declared on shares of Common Stock that are subject to any Award (including any Award that has been deferred), to be ~~held on May 11, 2016 at 1:00 p.m. local time at Hyatt Regency Denver Tech Center, 7800 East Tufts Avenue, Denver, Colorado 80237,~~credited as of dividend payment dates, during the period between the date the Award is granted and the date the Award is exercised, vests, settles, is paid or expires, as determined by the Committee. Such Dividend Equivalents will be converted to cash or additional shares of Common Stock by such formula and at such time and subject to such limitations as may be determined by the Committee and the Committee may provide that such amounts (if any) will be deemed to have been reinvested in additional shares of Common Stock or otherwise reinvested. Notwithstanding the foregoing, the Committee may not grant Dividend Equivalents based on the dividends declared on shares of Common Stock that are subject to an Option or Stock Appreciation Right; and further, no dividend or Dividend Equivalents will be paid out with respect to any ~~adjournments~~unvested Awards.

15.	Effect of Termination of Employment or Other Service.

15.1Termination Due to Cause. Unless otherwise expressly provided by the Committee in its sole discretion in an Award Agreement or ~~postponements thereof,~~the terms of an Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates or a plan or policy of the Company applicable to the Participant specifically provides otherwise, and subject to Sections 15.4 and 15.5 of this Plan, in the event a Participant’s employment or other service with the Company and all Subsidiaries is terminated for Cause:

(a)All outstanding Options and Stock Appreciation Rights held by the Participant as ~~follows:~~

~~(Continued~~of the effective date of such termination will be immediately terminated and forfeited;

(b)All outstanding but unvested Restricted Stock Awards, Restricted Stock Units, Performance Awards Other Cash-Based Awards and Other Stock-Based Awards held by the Participant as of the effective date of such termination will be terminated and forfeited; and

(c)All other outstanding Awards to the extent not vested will be immediately terminated and forfeited.

15.2Termination Due to Death, Disability or Retirement. Unless otherwise expressly provided by the Committee in its sole discretion in an Award Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates or the terms of an Individual Agreement or a plan or policy of the Company applicable to the Participant specifically provides otherwise, and subject to Sections 15.4, 15.5 and 17 of this Plan, in the event a Participant’s employment or other service with the Company and all Subsidiaries is terminated by reason of death or Disability of a Participant, or in the case of a Participant that is an Employee, Retirement:

(a)All outstanding Options (excluding Non-Employee Director Options in the case of Retirement) and Stock Appreciation Rights held by the Participant as of the effective date of such termination or Retirement will, to the extent exercisable as of the date of such termination or Retirement, remain exercisable for a period of one (1) year after the date of such termination or Retirement (but in no event after the expiration date of any such Option or Stock Appreciation Right) and Options and Stock Appreciation Rights not exercisable as of the date of such termination or Retirement will be terminated and forfeited;

(b)All outstanding unvested Restricted Stock Awards held by the Participant as of the effective date of such termination or Retirement will be terminated and forfeited;

(c)All outstanding unvested Restricted Stock Units, Performance Awards, Other Cash-Based Awards and Other Stock-Based Awards held by the Participant as of the effective date of such termination or Retirement will be terminated and forfeited; provided, however, that with respect to any such Awards the vesting of which is based on the achievement of Performance Goals, if a Participant’s employment or other service with the Company or any Subsidiary, as the case may be, is terminated prior to the end of the Performance Period of such Award, but after the conclusion of a portion of the Performance Period (but in no event less than one year), the Committee may, in its sole discretion, cause shares of Common Stock to be delivered or payment made (except to the extent that a Participant has properly elected to defer income that may be attributable to such Award under a Company deferred compensation plan or arrangement) with respect to the Participant’s Award, but only if otherwise earned for the entire Performance Period and only with respect to the portion of the applicable Performance Period completed at the date of such event, with proration based on the number of months or years that the Participant was employed or performed services during the Performance Period. The Committee will consider the provisions of Section 15.5 of this Plan and will have the discretion to consider any other fact or circumstance in making its decision as to whether to deliver such shares of Common Stock or other payment, including whether the Participant again becomes employed; and

(d)If the effective date of such termination or Retirement is before the end of the Performance Period to which an Annual Performance Cash Award relates, then any such Annual Performance Cash Award held by a Participant will be terminated and forfeited; and if the effective date of such termination or Retirement is on or after the end of the Performance Period to which an Annual Performance Cash Award relates, then any such Annual Performance Cash Award held by a Participant will be paid to the Participant in accordance with the payment terms of such Award.

15.3Termination for Reasons Other than Death, Disability or Retirement. Unless otherwise expressly provided by the Committee in its sole discretion in an Award Agreement or the terms of an Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates or a plan or policy of the Company applicable to the Participant specifically provides otherwise, and subject to Sections 15.4, 15.5 and 17 of this Plan, in the event a Participant’s employment or other service with the Company and all Subsidiaries is terminated for any reason other than for Cause or death or Disability of a Participant, or in the case of a Participant that is an Employee, Retirement:

(a)All outstanding Options (including Non-Employee Director Options) and Stock Appreciation Rights held by the Participant as of the effective date of such termination will, to the extent exercisable as of such termination, remain exercisable for a period of three (3) months after such termination (but in no event after the expiration date of any such Option or Stock Appreciation Right) and Options and Stock Appreciation Rights not exercisable as of such termination will be terminated and forfeited.

(b)All outstanding unvested Restricted Stock Awards held by the Participant as of the effective date of such termination will be terminated and forfeited;

(c)All outstanding unvested Restricted Stock Units, Performance Awards, Annual Performance Cash Awards, Other Cash-Based Awards and Other Stock-Based Awards held by the Participant as of the effective date of such termination will be terminated and forfeited; provided, however, that with respect to any such Awards the vesting of which is based on the achievement of Performance Goals, if a Participant’s employment or other service with the Company or any Subsidiary, as the case may be, is terminated by the Company without Cause prior to the end of the Performance Period of such Award, but after the conclusion of a portion of the Performance Period (but in no event less than one year), the Committee may, in its sole discretion, cause Shares to be delivered or payment made (except to the extent that a Participant has properly elected to defer income that may be attributable to such Award under a Company deferred compensation plan or arrangement) with respect to the Participant’s Award, but only if otherwise earned for the entire Performance Period and only with respect to the portion of the applicable Performance Period completed at the date of such event, with proration based on the number of months or years that the Participant was employed or performed services during the Performance Period.

15.4Modification of Rights upon Termination. Notwithstanding the other provisions of this Section 15, upon a Participant’s termination of employment or other service with the Company or any Subsidiary, as the case may be, the Committee may, in its sole discretion (which may be exercised at any time on or after the Grant Date, including following such termination) cause Options or Stock Appreciation Rights (or any part thereof) held by such Participant as of the effective date of such termination to terminate, become or continue to become exercisable or remain exercisable following such termination of employment or service, and Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Awards, Annual Performance Cash Awards, Non-Employee Director Awards, Other Cash-Based Awards and Other Stock-Based Awards held by such Participant as of the effective date of such termination to terminate, vest or become free of restrictions and conditions to payment, as the case may be, following such termination of employment or service, in each case in the manner determined by the Committee; provided, however, that (a) no Option or Stock Appreciation Right may remain exercisable beyond its expiration date; (b) the Committee may not take any action not permitted pursuant to Section 13.6 of this Plan; and (c) any such action by the Committee adversely affecting any outstanding Award will not be effective without the consent of the affected Participant (subject to the right of the Committee to take whatever action it deems appropriate under Section 4.5, 15.5, 17 or 21 of this Plan).

15.5Additional Forfeiture Events.

(a)Effect of Actions Constituting Cause or Adverse Action. Notwithstanding anything in this Plan to the contrary and in addition to the other rights of the Committee under this Plan, including this Section 15.5, if a Participant is determined by the Committee, acting in its sole discretion, to have taken any action that would constitute Cause or an Adverse Action during or after the termination of employment or other service with the Company or a Subsidiary, irrespective of whether such action or the Committee’s determination occurs before or after termination of such Participant’s employment or other service with the Company or any Subsidiary and irrespective of whether or not the Participant was terminated as a result of such Cause or Adverse Action, (i) all rights of the Participant under this Plan and any Award Agreements evidencing an Award then held by the Participant will terminate and be forfeited without notice of any kind, and (ii) the Committee in its sole discretion will have the authority to rescind the exercise, vesting or issuance of, or payment in respect of, any Awards of the Participant that were exercised, vested or issued, or as to which such payment was made, and to require the Participant to pay to the Company, within ten (10) days of receipt from the Company of notice of such rescission, any amount received or the amount of any gain realized as a result of such rescinded exercise, vesting, issuance or payment (including any dividends paid or other distributions made with respect to any shares of Common Stock subject to any Award). The Company may defer the exercise of any Option or Stock Appreciation Right for a period of up to six (6) months after receipt of the Participant’s written notice of exercise or the issuance of share certificates upon the vesting of any Award for a period of up to six (6) months after the date of such vesting in order for the Committee to make any determination as to the existence of Cause or an Adverse Action. The Company will be ~~signed~~entitled to withhold and deduct from future wages of the Participant (or from other amounts that may be due and owing to the Participant from the Company or a Subsidiary) or make other arrangements for the collection of all amounts necessary to satisfy such payment obligations. Unless otherwise provided by the Committee in an applicable Award Agreement, this Section 15.5(a) will not apply to any Participant following a Change in Control.

(b)Forfeiture or Clawback of Awards Under Applicable Law and Company Policy. If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, then any Participant who is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002 will reimburse the Company for the amount of any Award received by such individual under this Plan during the 12-month period following the first public issuance or filing with the Securities and Exchange Commission, as the case may be, of the financial document embodying such financial reporting requirement. The Company also may seek to recover any Award made as required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act or any other clawback, forfeiture or recoupment provision required by Applicable Law or under the requirements of any stock exchange or market upon which the shares of Common Stock are then listed or traded. In addition, all Awards under this Plan will be subject to forfeiture or other penalties pursuant to any clawback or forfeiture policy of the Company, as in effect from time to time (including, but not limited to, the Company’s Clawback and Forfeiture Policy as adopted in 2018), and such forfeiture and/or penalty conditions or provisions as determined by the Committee and set forth in the applicable Award Agreement.

16.	Payment of Withholding Taxes.

16.1General Rules. The Company is entitled to (a) withhold and deduct from future wages of the Participant (or from other amounts that may be due and owing to the Participant from the Company or a Subsidiary), or make other arrangements for the collection of, all legally required amounts necessary to satisfy any and all federal, foreign, state and local withholding and employment related tax requirements attributable to an Award, including the grant, exercise, vesting or settlement of, or payment of dividends with respect to, an Award or a disqualifying disposition of stock received upon exercise of an Incentive Stock Option, or (b) require the Participant promptly to remit the amount of such withholding to the Company before taking any action, including issuing any shares of Common Stock, with respect to an Award. When withholding shares of Common Stock for taxes is effected under this Plan, it will be withheld only up to an amount based on the ~~reverse side.)~~

maximum statutory tax rates in the Participant’s applicable tax jurisdiction or such other rate that will not trigger a negative accounting impact on the Company.

16.2Special Rules. The Committee may, in its sole discretion and upon terms and conditions established by the Committee, permit or require a Participant to satisfy, in whole or in part, any withholding or employment related tax obligation described in Section 16.1 of this Plan by withholding shares of Common Stock underlying an Award, by electing to tender, or by attestation as to ownership of, Previously Acquired Shares, by delivery of a Broker Exercise Notice or a combination of such methods. For purposes of satisfying a Participant’s withholding or employment-related tax obligation, shares of Common Stock withheld by the Company or Previously Acquired Shares tendered or covered by an attestation will be valued at their Fair Market Value on the Tax Date.

17.
~~1.1~~Change in Control		~~14475~~ .

17.1Definition of Change in Control. Unless otherwise provided in an Award Agreement or Individual Agreement between the Participant and the Company or one of its Subsidiaries or Affiliates, a “Change in Control” will mean the occurrence of any of the following:

(a)The acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of either the then outstanding shares of Common Stock of the Company or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors, but excluding, for this purpose, any such acquisition by the Company or any of its Subsidiaries, or any employee benefit plan (or related trust) of the Company or its Subsidiaries, or any entity with respect to which, following such acquisition, more than fifty percent (50%) of, respectively, the then outstanding equity of such entity and the combined voting power of the then outstanding voting equity of such entity entitled to vote generally in the election of all or substantially all of the members of such entity's governing body is then beneficially owned, directly or indirectly, by the individuals and entities who were the beneficial owners, respectively, of the Common Stock and voting securities of the Company immediately prior to such acquisition in substantially the same proportion as their ownership, immediately prior to such acquisition, of the then outstanding shares of Common Stock of the Company or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors, as the case may be; or

(b)The consummation of a reorganization, merger or consolidation of the Company, in each case, with respect to which all or substantially all of the individuals and entities who were the respective beneficial owners of the Common Stock and voting securities of the Company immediately prior to such reorganization, merger or consolidation do not, following such reorganization, merger or consolidation, beneficially own, directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares of Common Stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such reorganization, merger or consolidation; or

~~ANNUAL MEETING OF STOCKHOLDERS OF~~

~~CENTURY COMMUNITIES, INC.~~

~~May 11, 2016~~

~~GO GREEN~~

~~e-Consent makes~~

(c)a complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company.

17.2Continuation, Assumption or Substitution of Outstanding Awards; Treatment Upon Subsequent Termination. In the event of a Change in Control, the surviving or successor organization (or a parent or subsidiary thereof) (the “Successor”) may continue, assume or substitute equivalent awards (with such adjustments as may be required or permitted by Section 4.5 of this Plan). The Successor may elect to continue, assume or substitute only some Awards or portions of Awards. A substitute equivalent award must (i) have a value at least equal to the value of the Award being substituted; (ii) relate to a publicly-traded equity security of the Successor involved in the Change in Control or another entity that is affiliated with the Company or the Successor following the Change in Control; (iii) be the same type of award as the Award being substituted; (iv) be vested to the extent vested at the time of and as a result of the Change in Control and (v) have other terms and conditions (including vesting, exercisability and effect of termination within two (2) years following a Change in Control) that are not less favorable to the Participant than the terms and conditions of the Award being substituted, in each case, as determined by the Committee (as constituted prior to the Change in Control) in its sole discretion. If an Award is continued, assumed or substituted by the Successor and within two (2) years following a Change in Control the Participant (i) is terminated by the Successor (or an Affiliate thereof) without Cause or (ii) if the Participant is an executive officer of the Company (who is subject to reporting under Section 16 of the Exchange Act) or was an executive officer of the Company immediately prior to the Change in Control and resigns for Good Reason, the following rules will apply to the continued, assumed or substituted Awards, unless otherwise specifically provided in the applicable Award Agreement:

(a)Any and all Options and Stock Appreciation Rights will vest and become immediately exercisable as of the termination or resignation and will remain exercisable until the earlier of the expiration of its full specified term or the first anniversary of the date of such termination or resignation.

(b)All restrictions imposed on Restricted Stock, Restricted Stock Units or Deferred Units that are not performance-based will lapse. Such Restricted Stock Units and Deferred Stock Units will be settled and paid in cash or shares of Common Stock as provided in the Award Agreement. If such Restricted Stock Units or Deferred Stock Units are exempt from the requirements of Section 409A of the Code, the Restricted Stock Units or Deferred Stock Units will be paid within thirty (30) days following the termination or resignation. If such Restricted Stock Units or Deferred Stock Units are subject to the requirements of Section 409A of the Code, then the Restricted Stock Units or Deferred Stock Units will be paid within the thirty (30) day period following the Participant’s separation from service (within the meaning of Section 409A of the Code) (a “Separation from Service”); provided, however, that if at the time of the Participant’s Separation from Service, such Participant is a “specified employee” (within the meaning of Code Section 409A), then payment will be suspended, except as permitted under Code Section 409A, until the first business day after the earlier of (i) the date that is six (6) months after the date of the Participant’s Separation from Service or (ii) the Participant’s death.

(c)All vested and earned Awards that are performance-based for which the Performance Period has been completed as of the date of such termination or resignation but have not yet been paid will be paid in cash or Shares and at such time as provided in the Award Agreement. All performance-based Awards for which the Performance Period has not been completed as of the date of such termination or resignation will immediately vest and be earned in full, and paid out with respect to each Performance Goal based on actual performance achieved through the date of such termination or resignation with the manner of payment to be made in cash or Shares as provided in the Award Agreement within thirty (30) days following the date of such termination or resignation. If such Awards are subject to the requirements of Section 409A of the Code, then the Awards will be paid within the thirty (30) day period following the Participant’s Separation from Service; provided, however, that if at such time, such Participant is a “specified employee” (within the meaning of Code Section 409A), then payment will be suspended, except as permitted under Code Section 409A, until to the first business day after the earlier of (i) the date that is six (6) months after the date of the Separation from Service or (ii) the Participant’s death.

17.3No Continuation, Assumption or Substitution of Outstanding Awards; Dissolution or Liquidation. In the event of a Change in Control, any outstanding Awards that are not continued, assumed or substituted with equivalent awards by the Successor pursuant to Section 17.2 of this Plan, or in the case of a dissolution or liquidation of the Company, all Awards, will be subject to the following rules, in each case effective immediately prior to such Change in Control but conditioned upon the completion of such Change in Control:

(a)Any Options and Stock Appreciation Rights will be fully vested and exercisable and the Committee will either (1) give a Participant a reasonable opportunity to exercise the Option and Stock Appreciation Right before the transaction resulting in the Change in Control (including cashless exercise by a Participant) or (2) pay the Participant the difference between the exercise price for such Option or the grant price for such Stock Appreciation Right and the per Share consideration provided to other similarly situated stockholders in such Change in Control; provided, however, that if the exercise price of such Option or the grant price of such Stock Appreciation Right exceeds the aforementioned consideration provided, then the Option or Stock Appreciation Right will be canceled and terminated without any payment. In either case, such Option or Stock Appreciation Right will be cancelled. The Committee will not be obligated to treat all Options and Stock Appreciation Rights subject to this Section 17.3 in the same manner. The exercise of any Option or Stock Appreciation Right whose exercisability is accelerated as provided in this Section 17.3 will be conditioned upon the consummation of the Change in Control and will be effective only immediately before such consummation.

(b)All restrictions imposed on Restricted Stock, Restricted Stock Units or Deferred Stock Units that are not performance-based will lapse. Such Restricted Stock Units or Deferred Stock Units will be settled and paid in cash or shares of Common Stock as provided in the Award Agreement. If Restricted Stock Units or Deferred Stock Units are exempt from the requirements of Section 409A of the Code, then the Restricted Stock Units or Deferred Stock Units will be paid within thirty (30) days following the Change in Control. If Restricted Stock Units or Deferred Stock Units are subject to the requirements of Section 409A of the Code, then the time of payment will depend on whether the Change in Control is a distribution event under Treasury Regulation § 1.409A-3(a)(5) (a “409A Change in Control”). If the Change in Control is a 409A Change in Control, then the Restricted Stock Units or Deferred Stock Units subject to the requirements of Section 409A of the Code will be paid within the thirty (30) day period following the Change in Control. If the Change in Control is not a 409A Change in Control, Restricted Stock Units or Deferred Stock Units subject to the requirements of Section 409A of the Code will be paid as of the earlier of the time specified in the Award Agreement or within the thirty (30) day period following the date the Participant has a Separation from Service following such Change in Control; provided, however, that if at the time of the Participant’s Separation from Service, such Participant is a “specified employee” (within the meaning of Code Section 409A), then payment will be suspended, except as permitted under Code Section 409A, until the first business day after the earlier of (i) the date that is six (6) months after the date of the Participant’s Separation from Service or (ii) the Participant’s death.

(c)All vested and earned Awards that are performance-based for which the Performance Period has been completed as of the date of the Change in Control but have not yet been paid will be paid in cash or Shares and at such time as provided in the Award Agreement. All performance-based Awards for which the Performance Period has not been completed as of the date of the Change in Control will immediately vest and be earned in full, and paid out with respect to each Performance Goal based on actual performance achieved through the date of such Change in Control with the manner of payment to be made in cash or Shares as provided in the Award Agreement as soon as reasonably practicable after the Change in Control, but no later than within thirty (30) days following the date of the Change in Control; provided, however that if any such payment is to be made in Shares, the Committee may in its discretion, provide such holders the consideration provided to other similarly situated shareholders in such Change in Control.

17.4Alternative Special Treatment of Performance-Based Awards. Notwithstanding Section 17.2 and 17.3 above, in the event of a Change in Control, the Committee, may decide in its discretion that, in lieu of treatment under Section 17.2 or 17.3 above, with respect to any outstanding Performance Awards, (i) the Performance Period will end as of the date immediately prior to such Change in Control and the Committee will determine the extent to which the Performance Goals applicable to such Performance Award have been satisfied at such time, (ii) the portion of such Performance Award that is deemed to have been earned pursuant to clause (i) above will be converted into a time-vesting Award of equivalent value to which any service vesting requirements applicable to the predecessor Performance Award will continue to apply and (iii) the converted time-vesting Award will be paid or settled on the settlement date or dates as provided under the terms of the predecessor Performance Award that would have applied had a Change in Control not occurred; providedhowever, that if within two (2) years following a Change in Control the Participant (i) is terminated by the Successor (or an Affiliate thereof) without Cause or (ii) if the Participant is an executive officer of the Company (who is subject to reporting under Section 16 of the Exchange Act) or was an executive officer of the Company immediately prior to the Change in Control and resigns for Good Reason, any service vesting requirements applicable to any such converted Award will be deemed to have been met and such converted Award will be immediately paid or settled upon such termination. The Committee will not be obligated to treat all Performance Awards subject to this Section 17.4 in the same manner.

17.5Limitation on Change in Control Payments. Notwithstanding anything in this Section 17 to the contrary, if, with respect to a Participant, the acceleration of the vesting of an Award or the payment of cash in exchange for all or part of a Stock-Based Award (which acceleration or payment could be deemed a “payment” within the meaning of Section 280G(b)(2) of the Code), together with any other “payments” that such Participant has the right to receive from the Company or any corporation that is a member of an “affiliated group” (as defined in Section 1504(a) of the Code without regard to Section 1504(b) of the Code) of which the Company is a member, would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the “payments” to such Participant pursuant to Section 17.2 of this Plan will be reduced (or acceleration of vesting eliminated) to the largest amount as will result in no portion of such “payments” being subject to the excise tax imposed by Section 4999 of the Code; provided, however, that such reduction will be made only if the aggregate amount of the payments after such reduction exceeds the difference between (a) the amount of such payments absent such reduction minus (b) the aggregate amount of the excise tax imposed under Section 4999 of the Code attributable to any such excess parachute payments; and provided,further that such payments will be reduced (or acceleration of vesting eliminated) by first reducing or eliminating payments or benefits the full value of which are required to be recognized as contingent upon a Change in Control (determined in accordance with Treasury Regulation § 1.280G-1, Q/A-24), followed by reducing or eliminating payments or benefits which are not payable in cash and then by reducing or eliminating cash payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time from such date. Notwithstanding the foregoing sentence, if a Participant is subject to a separate agreement with the Company or a Subsidiary that expressly addresses the potential application of Section 280G or 4999 of the Code, then this Section 17.5 will not apply and any “payments” to a Participant pursuant to Section 17 of this Plan will be treated as “payments” arising under such separate agreement; provided, however, such separate agreement may not modify the time or form of payment under any Award that constitutes deferred compensation subject to Section 409A of the Code if the modification would cause such Award to become subject to the adverse tax consequences specified in Section 409A of the Code.

17.6Exceptions. Notwithstanding anything in this Section 17 to the contrary, individual Award Agreements or Individual Agreements between a Participant and the Company or one of its Subsidiaries or Affiliates may contain provisions with respect to vesting, payment or treatment of Awards upon the occurrence of a Change in Control, and the terms of any such Award Agreement or Individual Agreement will govern to the extent of any inconsistency with the terms of this Section 17. The Committee will not be obligated to treat all Awards subject to this Section 17 in the same manner. The timing of any payment under this Section 17 may be governed by any election to defer receipt of a payment made under a Company deferred compensation plan or arrangement.

18.	Rights of Eligible Recipients and Participants; Transferability.

18.1Employment. Nothing in this Plan or an Award Agreement will interfere with or limit in any way the right of the Company or any Subsidiary to terminate the employment or service of any Eligible Recipient or Participant at any time, nor confer upon any Eligible Recipient or Participant any right to continue employment or other service with the Company or any Subsidiary.

18.2No Rights to Awards. No Participant or Eligible Recipient will have any claim to be granted any Award under this Plan.

18.3Rights as a Stockholder. Except as otherwise provided in the Award Agreement, a Participant will have no rights as a stockholder with respect to shares of Common Stock covered by any Stock-Based Award unless and until the Participant becomes the holder of record of such shares of Common Stock and then subject to any restrictions or limitations as provided herein or in the Award Agreement.

18.4Restrictions on Transfer.

(a)Except pursuant to testamentary will or the laws of descent and distribution or as otherwise expressly permitted by subsections (b) and (c) below, no right or interest of any Participant in an Award prior to the exercise (in the case of Options or Stock Appreciation Rights) or vesting, issuance or settlement of such Award will be assignable or transferable, or subjected to any lien, during the lifetime of the Participant, either voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise.

(b)A Participant will be entitled to designate a beneficiary to receive an Award upon such Participant’s death, and in the event of such Participant’s death, payment of any amounts due under this Plan will be made to, and exercise of any Options or Stock Appreciation Rights (to the extent permitted pursuant to Section 15 of this Plan) may be made by, such beneficiary. If a deceased Participant has failed to designate a beneficiary, or if a beneficiary designated by the Participant fails to survive the Participant, payment of any amounts due under this Plan will be made to, and exercise of any Options or Stock Appreciation Rights (to the extent permitted pursuant to Section 15 of this Plan) may be made by, the Participant’s legal representatives, heirs and legatees. If a deceased Participant has designated a beneficiary and such beneficiary survives the Participant but dies before complete payment of all amounts due under this Plan or exercise of all exercisable Options or Stock Appreciation Rights, then such payments will be made to, and the exercise of such Options or Stock Appreciation Rights may be made by, the legal representatives, heirs and legatees of the beneficiary.

(c)Upon a Participant’s request, the Committee may, in its sole discretion, permit a transfer of all or a portion of a Non-Statutory Stock Option, other than for value, to such Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, any person sharing such Participant’s household (other than a tenant or employee), a trust in which any of the foregoing have more than fifty percent (50%) of the beneficial interests, a foundation in which any of the foregoing (or the Participant) control the management of assets, and any other entity in which these persons (or the Participant) own more than fifty percent (50%) of the voting interests. Any permitted transferee will remain subject to all the terms and conditions applicable to the Participant prior to the transfer. A permitted transfer may be conditioned upon such requirements as the Committee may, in its sole discretion, determine, including execution or delivery of appropriate acknowledgements, opinion of counsel, or other documents by the transferee.

(d)The Committee may impose such restrictions on any shares of Common Stock acquired by a Participant under this Plan as it ~~easy~~may deem advisable, including minimum holding period requirements in addition to ~~go paperless.~~those under Section 4.8 of this Plan, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which the Common Stock is then listed or traded, or under any blue sky or state securities laws applicable to such shares or the Company’s insider trading policy.

18.5Non-Exclusivity of this Plan. Nothing contained in this Plan is intended to modify or rescind any previously approved compensation plans or programs of the Company or create any limitations on the power or authority of the Board to adopt such additional or other compensation arrangements as the Board may deem necessary or desirable.

19.	Securities Law and Other Restrictions.

Notwithstanding any other provision of this Plan or any Award Agreements entered into pursuant to this Plan, the Company will not be required to issue any shares of Common Stock under this Plan, and a Participant may not sell, assign, transfer or otherwise dispose of shares of Common Stock issued pursuant to Awards granted under this Plan, unless (a) there is in effect with respect to such shares a registration statement under the Securities Act and any applicable securities laws of a state or foreign jurisdiction or an exemption from such registration under the Securities Act and applicable state or foreign securities laws, and (b) there has been obtained any other consent, approval or permit from any other U.S. or foreign regulatory body which the Committee, in its sole discretion, deems necessary or advisable. The Company may condition such issuance, sale or transfer upon the receipt of any representations or agreements from the parties involved, and the placement of any legends on certificates representing shares of Common Stock, as may be deemed necessary or advisable by the Company in order to comply with such securities law or other restrictions.

20.	Deferred Compensation; Compliance with Section 409A.

It is intended that all Awards issued under this Plan be in a form and administered in a manner that will comply with the requirements of Section 409A of the Code, or the requirements of an exception to Section 409A of the Code, and the Award Agreements and this Plan will be construed and administered in a manner that is consistent with and gives effect to such intent. The Committee is authorized to adopt rules or regulations deemed necessary or appropriate to qualify for an exception from or to comply with the requirements of Section 409A of the Code. With ~~e-Consent, you can quickly access your proxy materials, statements~~respect to an Award that constitutes a deferral of compensation subject to Code Section 409A: (a) if any amount is payable under such Award upon a termination of service, a termination of service will be treated as having occurred only at such time the Participant has experienced a Separation from Service; (b) if any amount is payable under such Award upon a Disability, a Disability will be treated as having occurred only at such time the Participant has experienced a “disability” as such term is defined for purposes of Code Section 409A; (c) if any amount is payable under such Award on account of the occurrence of a Change in Control, a Change in Control will be treated as having occurred only at such time a “change in the ownership or effective control of the corporation or in the ownership of a substantial portion of the assets of the corporation” as such terms are defined for purposes of Code Section 409A, (d) if any amount becomes payable under such Award on account of a Participant’s Separation from Service at such time as the Participant is a “specified employee” within the meaning of Code Section 409A, then no payment will be made, except as permitted under Code Section 409A, prior to the first business day after the earlier of (i) the date that is six months after the date of the Participant’s Separation from Service or (ii) the Participant’s death, and (e) no amendment to or payment under such Award will be made except and only to the extent permitted under Code Section 409A.

21.	Amendment, Modification and Termination.

21.1Generally. Subject to other ~~eligible documents online, while reducing costs, clutter~~subsections of this Section 21 and ~~paper waste. Enroll today via www.amstock.com~~Sections 3.4 and 21.3 of this Plan, the Board at any time may suspend or terminate this Plan (or any portion thereof) or terminate any outstanding Award Agreement and the Committee, at any time and from time to ~~enjoy online access.~~

~~NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS~~:

time, may amend this Plan or amend or modify the terms of an outstanding Award. The ~~Notice~~Committee’s power and authority to amend or modify the terms of ~~Meeting, proxy statement, proxy card,~~an outstanding Award includes the authority to modify the number of shares of Common Stock or other terms and ~~our Annual Report~~conditions of an Award, extend the term of an Award, accept the surrender of any outstanding Award or, to the extent not previously exercised or vested, authorize the grant of new Awards in substitution for surrendered Awards; provided, however that the amended or modified terms are permitted by this Plan as then in effect, including without limitation Section 3.4 of this Plan and that any Participant adversely affected by such amended or modified terms has consented to such amendment or modification.

21.2Stockholder Approval. No amendments to this Plan will be effective without approval of the Company’s stockholders if: (a) stockholder approval of the amendment is then required pursuant to Section 422 of the Code, the rules of the primary stock exchange or stock market on ~~Form 10-K~~

which the Common Stock is then traded, applicable state corporate laws or regulations, applicable federal laws or regulations, and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under this Plan; or (b) such amendment would: (i) modify Section 3.4 of this Plan; (ii) materially increase benefits accruing to Participants; (iii) increase the aggregate number of shares of Common Stock issued or issuable under this Plan; (iv) increase any limitation set forth in this Plan on the number of shares of Common Stock which may be issued or the aggregate value of Awards which may be made, in respect of any type of Award to any single Participant during any specified period; (v) modify the eligibility requirements for Participants in this Plan; or (vi) reduce the minimum exercise price or grant price as set forth in Sections 6.3 and 7.3 of this Plan.

21.3Awards Previously Granted. Notwithstanding any other provision of this Plan to the contrary, no termination, suspension or amendment of this Plan may adversely affect any outstanding Award without the consent of the affected Participant; provided, however, that this sentence will not impair the right of the Committee to take whatever action it deems appropriate under Sections 3.4, 4.5, 13.5, 15, 17, 20 or 21.4 of this Plan.

21.4Amendments to Conform to Law. Notwithstanding any other provision of this Plan to the contrary, the Committee may amend this Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the ~~fiscal year ended December 31, 2015 are available at http://www.astproxyportal.com/ast/19474/~~

~~Please sign, date~~purpose of conforming this Plan or an Award Agreement to any present or future law relating to plans of this or similar nature, and ~~mail~~

~~your proxy card~~to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this Section 21.4 to any Award granted under this Plan without further consideration or action.

22.	Substituted Awards.

The Committee may grant Awards under this Plan in substitution for stock and stock-based awards held by employees of another entity who become employees of the

~~envelope provided~~ Company or a Subsidiary as ~~soon~~

a result of a merger or consolidation of the former employing entity with the Company or a Subsidiary or the acquisition by the Company or a Subsidiary of property or stock of the former employing corporation. The Committee may direct that the substitute Awards be granted on such terms and conditions as ~~possible.~~

~~Please detach along perforated line and mail~~the Committee considers appropriate in the ~~envelope provided.~~

circumstances.

23.
Effective Date and Duration of this Plan	~~20530000000000000000 7~~	~~051116~~
			.

This Plan is effective as of the Effective Date. This Plan will terminate at midnight on the day before the ten (10) year anniversary of the Effective Date, and may be terminated prior to such time by Board action. No Award will be granted after termination of this Plan, but Awards outstanding upon termination of this Plan will remain outstanding in accordance with their applicable terms and conditions and the terms and conditions of this Plan.

24.

~~THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” EACH OF THE NOMINEES AND “FOR” PROPOSAL 2.~~

~~PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE~~

Miscellaneous.

~~FOR~~

~~AGAINST~~

~~ABSTAIN~~

~~1. Election Directors:~~

~~NOMINEES:~~

~~2. Proposal to ratify the appointment of Ernst & Young LLP to serve as our independent registered public accounting firm for the year ending December 31, 2016.~~

~~FOR ALL NOMINEES~~

~~WITHHOLD AUTHORITY~~

~~FOR ALL NOMINEES~~

~~FOR ALL EXCEPT~~

~~(See instructions below)~~

~~John P. Box~~

~~Dale Francescon~~

~~Robert J. Francescon~~

~~Keith R. Guericke~~

~~James M. Lippman~~

~~3. Such other business as may properly come before the Annual Meeting or at any continuation, postponement or adjournment thereof.~~

~~INSTRUCTIONS:~~ ~~To withhold authority to vote for any individual nominee(s), mark~~~~“FOR ALL EXCEPT”~~ ~~and fill in the circle next to each nominee you wish to withhold, as shown here:~~

To change the address on your account, please check the box at right and indicate your new address in the address space above. Please note that changes to the registered name(s) on the account may not be submitted via this method.

~~Signature of Stockholder~~

~~Date:~~

~~Signature of Stockholder~~

~~Date:~~

~~Note:~~ Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.

24.1Usage. In this Plan, except where otherwise indicated by clear contrary intention, (a) any masculine term used herein also will include the feminine, (b) the plural will include the singular, and the singular will include the plural, (c) “including” (and with correlative meaning “include”) means including without limiting the generality of any description preceding such term, and (d) “or” is used in the inclusive sense of “and/or”.

24.2Unfunded Plan. Participants will have no right, title or interest whatsoever in or to any investments that the Company or its Subsidiaries may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative, or any other individual. To the extent that any individual acquires a right to receive payments from the Company or any Subsidiary under this Plan, such right will be no greater than the right of an unsecured general creditor of the Company or the Subsidiary, as the case may be. All payments to be made hereunder will be paid from the general funds of the Company or the Subsidiary, as the case may be, and no special or separate fund will be established and no segregation of assets will be made to assure payment of such amounts except as expressly set forth in this Plan.

~~ANNUAL MEETING OF STOCKHOLDERS OF~~

~~CENTURY COMMUNITIES, INC.~~

~~May 11, 2016~~

~~PROXY VOTING INSTRUCTIONS~~


~~INTERNET~~- ~~Access “~~~~www.voteproxy.com~~~~” and follow the on-screen instructions or scan the QR code with your smartphone. Have your proxy card available when you access the web page.~~

~~Vote online until 11:59 PM EST the day before the meeting.~~
~~MAIL~~ -~~Sign, date and mail your proxy card in the envelope provided as soon as possible.~~				~~COMPANY NUMBER~~
~~IN PERSON~~ -~~You may vote your shares in person by attending the Annual Meeting.~~				~~ACCOUNT NUMBER~~
~~GO GREEN~~ -~~e-Consent makes it easy to go paperless. Withe-Consent,~~ ~~you can quickly access your proxy materials, statements and other eligible documents online, while reducing costs, clutter and paper waste. Enroll today via www.amstock.com to enjoy online access.~~

~~NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS~~~~: The Notice of Meeting, proxy statement, proxy card, and our Annual Report onForm 10-K~~ ~~for the fiscal year ended December 31, 2015 are available at http://www.astproxyportal.com/ast/19474/~~

~~Please detach along perforated line and mail in the envelope provided~~IF ~~you arenot~~ ~~voting via the Internet.~~

~~20530000000000000000 7~~

~~051116~~

~~THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” EACH OF THE NOMINEES AND “FOR” PROPOSAL 2.~~

~~PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE~~

~~FOR~~

~~AGAINST~~

~~ABSTAIN~~

~~1. Election Directors:~~

~~2. Proposal to ratify the appointment of Ernst & Young LLP to serve as our independent registered public accounting firm for the year ending December 31, 2016.~~

~~NOMINEES:~~

~~FOR ALL NOMINEES~~

~~WITHHOLD AUTHORITY~~

~~FOR ALL NOMINEES~~

~~FOR ALL EXCEPT~~

~~(See instructions below)~~

~~John P. Box~~

~~Dale Francescon~~

~~Robert J. Francescon~~

~~Keith R. Guericke~~

~~James M. Lippman~~

~~3. Such other business as may properly come before the Annual Meeting or at any continuation, postponement or adjournment thereof.~~

~~Signature of Stockholder~~

~~Date:~~

~~Signature of Stockholder~~

~~Date:~~

24.3Relationship to Other Benefits. Neither Awards made under this Plan nor shares of Common Stock or cash paid pursuant to such Awards under this Plan will be included as “compensation” for purposes of computing the benefits payable to any Participant under any pension, retirement (qualified or non-qualified), savings, profit sharing, group insurance, welfare, or benefit plan of the Company or any Subsidiary unless provided otherwise in such plan.

24.4Fractional Shares. No fractional shares of Common Stock will be issued or delivered under this Plan or any Award. The Committee will determine whether cash, other Awards or other property will be issued or paid in lieu of fractional shares of Common Stock or whether such fractional shares of Common Stock or any rights thereto will be forfeited or otherwise eliminated by rounding up or down.

24.5Governing Law; Mandatory Jurisdiction. Except to the extent expressly provided herein or in connection with other matters of corporate governance and authority (all of which will be governed by the laws of the Company’s jurisdiction of incorporation), the validity, construction, interpretation, administration and effect of this Plan and any rules, regulations and actions relating to this Plan will be governed by and construed exclusively in accordance with the laws of the State of Delaware, notwithstanding the conflicts of laws principles of any jurisdictions. Unless otherwise expressly provided in an Award Agreement, the Company and recipients of an Award under this Plan hereby irrevocably submit to the jurisdiction and venue of the Federal or State courts of the States of Colorado and Delaware relative to any and all disputes, issues and/or claims that may arise out of or relate to this Plan or any related Award Agreement. The Company and recipients of an Award under this Plan further agree that any and all such disputes, issues and/or claims arising out of or related to this Plan or any related Award Agreement will be brought and decided in the Federal or State courts of the States of Colorado or Delaware, with such jurisdiction and venue selected by and at the sole discretion of the Company.

24.6Successors. All obligations of the Company under this Plan with respect to Awards granted hereunder will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of the business or assets of the Company.

24.7Construction. Wherever possible, each provision of this Plan and any Award Agreement will be interpreted so that it is valid under the Applicable Law. If any provision of this Plan or any Award Agreement is to any extent invalid under the Applicable Law, that provision will still be effective to the extent it remains valid. The remainder of this Plan and the Award Agreement also will continue to be valid, and the entire Plan and Award Agreement will continue to be valid in other jurisdictions.

24.8Delivery and Execution of Electronic Documents. To the extent permitted by Applicable Law, the Company may: (a) deliver by email or other electronic means (including posting on a Web site maintained by the Company or by a third party under contract with the Company) all documents relating to this Plan or any Award hereunder (including prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including annual reports and proxy statements), and (b) permit Participants to use electronic, internet or other non-paper means to execute applicable Plan documents (including Award Agreements) and take other actions under this Plan in a manner prescribed by the Committee.

24.9No Representations or Warranties Regarding Tax Effect. Notwithstanding any provision of this Plan to the contrary, the Company and its Subsidiaries, the Board, and the Committee neither represent nor warrant the tax treatment under any federal, state, local, or foreign laws and regulations thereunder (individually and collectively referred to as the “Tax Laws”) of any Award granted or any amounts paid to any Participant under this Plan including, but not limited to, when and to what extent such Awards or amounts may be subject to tax, penalties, and interest under the Tax Laws.

24.10Indemnification. Subject to any limitations and requirements of Delaware law, each individual who is or will have been a member of the Board, or a Committee appointed by the Board, or an officer or Employee of the Company to whom authority was delegated in accordance with Section 3.3 of this Plan, will be indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under this Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit or proceeding against him or her, provided he or she will give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his/her own behalf. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which such individuals may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or pursuant to any agreement with the Company, or any power that the Company may have to indemnify them or hold them harmless.


¨	☐	Preliminary Proxy Statement

¨	☐	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

x	☒	Definitive Proxy Statement

¨	☐	Definitive Additional Materials

¨	☐	Soliciting Material Under Rule 14a-12



x	☒	No fee required.

¨	☐	Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

		(1)		Title of each class of securities to which transaction applies:

	(2)		Aggregate number of securities to which transaction applies:

	(3)		Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):

	(4)		Proposed maximum aggregate value of transaction:

	(5)		Total fee paid:

¨
☐	Fee paid previously with preliminary materials:

¨	☐	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
	(1)	Amount Previously Paid:
		~~(1)~~		~~Amount Previously Paid:~~
		(2)		Form, Schedule or Registration Statement No:

	(3)		Filing Party:

	(4)	Date Filed:
	~~Date Filed:~~

✓	Annual election of all directors	✓	Robust Board and committee evaluations
			31
~~Policies and Procedures for Review and Approval~~✓	Majority of ~~Related Party Transactions~~ independent directors	✓	No poison pill
			31
~~Transactions with Related Persons~~ ✓	Independent presiding director	✓	Annual say-on-pay vote
			31
~~OTHER MATTERS~~ ✓	Officer and director stock ownership requirements	✓	Double triggers for cash severance and accelerated vesting of equity upon a change in control
			32
✓	Hedging, pledging, and stock option repricing prohibitions	✓	Robust clawback policy covering cash and equity incentive compensation paid to current and former executives


WRITE	CALL	EMAIL	ATTEND
Corporate Secretary Century Communities, Inc. 8390 E. Crescent Pkwy. Suite 650 Greenwood Village, CO 80111	Investor Relations 303-268-8398	investorrelations@ centurycommunities.com	Annual Meeting of Stockholders Wednesday, May 8, 2019 Hyatt Regency Denver Tech Center

Director	Board	Audit	Compensation	Nominating and Corporate Governance	Attendance Rate
Dale Francescon	●			32	100%
~~Stockholder Proposals and Director Nominations for 2017 Annual Meeting~~ Robert J. Francescon	●			32	100%
John P. Box	●	●	●	● Chair	96%
Keith R. Guericke	●	● Chair	●	●	100%
James M. Lippman	●	●	● Chair	●	83%

	Sincerely,

	Dale Francescon
	Chairman of the Board and
	Co-Chief Executive Officer

	March 27, 2019

		BY ORDER OF THE BOARD OF DIRECTORS

~~Page~~

~~INFORMATION ABOUT THE ANNUAL MEETING~~	David L. Messenger
	Chief Financial Officer and Secretary

Greenwood Village, Colorado
March 27, 2019

	1Page

~~General~~PROXY STATEMENT SUMMARY		1

~~Availability of Proxy Materials for the 2016 Annual Meeting~~CORPORATE GOVERNANCE	14
	1
~~Who Can Vote, Outstanding Shares~~EXECUTIVE OFFICERS	23
	2
~~Voting of Shares~~PROPOSAL NO. 1: ELECTION OF DIRECTORS	24
	2
~~Revocation of Proxy~~PROPOSAL NO. 2: CENTURY COMMUNITIES, INC. AMENDED AND RESTATED 2017 OMNIBUS INCENTIVE PLAN	27
	2
~~Voting in Person~~		3
~~Quorum and Votes Required~~		3
~~Solicitation of Proxies~~		4
~~Stockholder List~~		4
~~Forward-Looking Statements~~		4
PROPOSAL NO. ~~1—ELECTION OF DIRECTORS~~		5
~~Board Nominees~~		5
~~Board Recommendation~~		5
~~Information about Director Nominees~~		6
~~CORPORATE GOVERNANCE~~		8
~~Corporate Governance Guidelines~~		8
~~Board Composition and Size~~		8
~~Board Leadership Structure~~		8
~~Director Independence~~		9
~~Board Meetings~~		9
~~Executive Sessions~~		9
~~Committees of the Board of Directors~~		10
~~Audit Committee~~		10
~~Compensation Committee~~		10
~~Nominating and Corporate Governance Committee~~		11
~~Other Committees~~		12
~~Role of our Board of Directors in Risk Oversight~~		12
~~Compensation Committee Interlocks and Insider Participation~~		12
~~Communications with the Board of Directors~~		12
~~Code of Business Conduct and Ethics~~		12
~~PROPOSAL NO. 2—~~3: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	44
	14
~~Board Recommendation~~PROPOSAL NO. 4: ADVISORY VOTE ON EXECUTIVE COMPENSATION	46
	14
~~Fees Incurred for Services by Principal Accountant~~COMPENSATION DISCUSSION AND ANALYSIS	49
	14
~~Pre-Approval Policies and Procedures~~COMPENSATION COMMITTEE REPORT	66
	14
~~Audit Committee Report~~EXECUTIVE COMPENSATION	66
	15
~~SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS~~DIRECTOR COMPENSATION	78
	16
~~EXECUTIVE OFFICERS AND COMPENSATION~~		18
~~Executive Officers~~		18
~~Compensation Discussion and Analysis~~		18
~~Summary Compensation Table~~		28
~~Grants of Plan-Based Awards in 2015~~		29
~~Outstanding Equity Awards as of December 31, 2015~~		29
~~Director Compensation~~		30
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	80

STOCK OWNERSHIP	81

OTHER MATTERS	86

ANNEX I- RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES	I-1

DATE AND TIME	PROPOSALS
Wednesday, May 8, 2019 1:00 p.m. (Mountain Time) LOCATION Hyatt Regency Denver Tech Center 7800 East Tufts Avenue Denver, CO 80237 RECORD DATE Holders of record of our common stock at the close of business on March 14, 2019, are entitled to notice of, to attend, and to vote at the 2019 Annual Meeting of Stockholders or any continuation, postponement, or adjournment thereof.	Proposal	Board’s Vote Recommendation	Page
	Proposal No. 1: Election of director	FOR	24
	Proposal No. 2: Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan	FOR	27
	Proposal No. 3: Ratification of appointment of independent registered public accounting firm	FOR	44
	Proposal No. 4: Advisory vote on executive compensation	FOR	46

Director	Age	Serving Since	Independent	Committees
Dale Francescon⁽¹⁾	66	2013	No⁽²⁾	N/A
Robert J. Francescon	61	2013	No⁽²⁾	N/A
John P. Box	72	2014	Yes	Audit, Compensation, Nominating and Corporate Governance
Keith R. Guericke⁽¹⁾	70	2013	Yes	Audit, Compensation, Nominating and Corporate Governance
James M. Lippman	61	2013	Yes	Audit, Compensation, Nominating and Corporate Governance

Director	CEO/Senior Officer Experience	Financial/Finance Experience	Industry Experience	Sales/Marketing Experience	Corporate Governance
Dale Francescon	●	●	●	●	●
Robert J. Francescon	●	●	●	●	●
John P. Box	●		●	●	●
Keith R. Guericke	●	●	●	●	●
James M. Lippman	●	●	●	●	●

✓	Aligning the interests of our executives with those of our stockholders and linking pay to performance by providing compensation opportunities that are tied directly to the achievement of financial performance goals and long-term stock price performance;

~~Householding~~✓	Targeting fixed compensation at the market median; and

✓	Targeting performance-based award levels at the market median and setting maximum award levels, if earned, at or above the market 75th percentile, thereby emphasizing performance-based compensation elements, with superior performance resulting in above-market pay, and underwhelming performance resulting in below-market pay.

✓	Base salary

✓	Short-term cash incentive compensation, based on performance

✓	Long-term equity incentive compensation, in the form of performance share and restricted stock unit awards

Stockholder Action	Submission Deadline
Proposal Pursuant to Rule 14a-8 of the Securities Exchange Act of 1934	No later than November 26, 2019
Nomination of a Candidate Pursuant to our Bylaws	Between January 8, 2020, and February 7, 2020
Proposal of Other Business for Consideration Pursuant to our Bylaws	Between January 8, 2020, and February 7, 2020

Proposal	Item of Business
Proposal No. 1	Election of Directors
Proposal No. 2	Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan
Proposal No. 3	Ratification of Appointment of Independent Registered Public Accounting Firm
Proposal No. 4	Advisory Vote on Executive Compensation

Proposal	Votes Required		Effect of Votes Withheld / Abstentions	Effect of Broker Non- Votes
Proposal No. 1: Election of Directors		Plurality of votes cast. This means that the five nominees receiving the highest number of affirmative “FOR” votes will be elected as directors.	Votes withheld will have no effect.	Broker non-votes will have no effect.
Proposal No. 2: Century Communities, Inc. Amended and Restated 2017 Omnibus Incentive Plan		Affirmative vote of a majority of votes cast on the proposal.	Abstentions will have the effect of a vote against the proposal.	Broker non-votes will have no effect.
Proposal No. 3: Ratification of Appointment of Independent Registered Public Accounting Firm		Affirmative vote of the holders of a majority in voting power of the shares of common stock present in person or by proxy and entitled to vote thereon.	Abstentions will have the effect of a vote against the proposal.	We do not expect any broker non-votes on this proposal.
Proposal No. 4: Advisory Vote on Executive Compensation		Affirmative vote of the holders of a majority in voting power of the shares of common stock present in person or by proxy and entitled to vote thereon.	Abstentions will have the effect of a vote against the proposal.	Broker non-votes will have no effect.

✓	Annual election of all directors	✓	Robust Board and committee evaluations

✓	Majority of independent directors	✓	No poison pill

✓	Independent presiding director	✓	Annual say-on-pay vote

✓	Officer and director stock ownership requirements	✓	Double triggers for cash severance and accelerated vesting of equity upon a change in control

✓	Hedging, pledging and stock option repricing prohibitions	✓	Robust clawback policy covering cash and equity incentive compensation paid to current and former executives

Name	Age	Position with Century
Dale Francescon	66	Chairman of the Board and Co-Chief Executive Officer
Robert J. Francescon	61	Co-Chief Executive Officer, President, and Director
David L Messenger	48	Chief Financial Officer and Secretary

Name	Age	Position with the Company
Dale Francescon	66	Chairman of the Board and Co-Chief Executive Officer
Robert J. Francescon	61	Co-Chief Executive Officer, President, and Director
John P. Box	72	Independent Director
Keith R. Guericke	70	Independent Director
James M. Lippman	61	Independent Director

✓	No evergreen provision	✓	No liberal share counting

✓	Not excessively dilutive	✓	No discounted or reload stock options or SARs

✓	Minimum vesting and performance period requirements	✓	No liberal change in control definition

✓	Holding period requirements	✓	“Double-trigger” acceleration of vesting upon a change in control

✓	No dividend payments on unvested awards	✓	No tax gross-ups

✓	No re-pricing of “underwater” stock options or SARs, without stockholder approval	✓	Robust clawback policy covering cash and equity incentive compensation paid to current and former executives

✓	Limits on non-employee director awards

Purpose	The purpose of the amended 2017 plan is to advance the interests of Century and our stockholders by enabling Century and our subsidiaries to attract and retain qualified individuals to perform services, provide incentive compensation for such individuals in a form that is linked to the growth and profitability of Century and increases in stockholder value, and provide opportunities for equity participation that align the interests of recipients with those of our stockholders.
Administration	The Compensation Committee administers the amended 2017 plan. All members of the Compensation Committee are “non-employee directors” within the meaning of Rule 16b-3 under the Exchange Act and “independent” under the NYSE rules.
Delegation	To the extent permitted by applicable law, the Compensation Committee may delegate to one or more of its members or to one or more officers of Century such administrative duties or powers, as it may deem advisable, including the grant of certain awards to employees, other than Section 16 officers, non-employee directors, or 10% stockholders of Century.
No-Repricing	The Compensation Committee may not, except as described below under “—Adjustments,” without prior approval of our stockholders, seek to effect any re-pricing of any previously granted “underwater” option or SAR by: (i) amending or modifying the terms of the option or SAR to lower the exercise price or grant price; (ii) canceling the underwater option or SAR in exchange for (A) cash; (B) replacement options or SARs having a lower exercise price or grant price; or (C) other awards; or (iii) repurchasing the underwater options or SARs and granting new awards under the amended 2017 plan. An option or SAR will be deemed to be “underwater” at any time when the fair market value of the common stock is less than the exercise price of the option or the grant price of the SAR.
Shares Authorized	Subject to adjustment (as described below), the maximum number of shares of our common stock available for issuance under the amended 2017 plan is 2,481,000 shares, plus (i) 575,984 shares of our common stock that were available for issuance under our prior 2013 plan as of the date of stockholder approval of the 2017 plan, but not subject to outstanding awards and (ii) up to 690,182 shares that were subject to awards outstanding under the 2013 plan as of the date of stockholder approval of the 2017 plan that are subsequently forfeited or cancelled or expire or otherwise terminate without the issuance of such shares. No more than 2,481,000 shares may be granted as incentive stock options.

Share Counting	Shares that are issued under the amended 2017 plan or that are subject to outstanding awards are applied to reduce the maximum number of shares remaining available for issuance to the extent they are used; provided, however, that the full number of shares subject to a stock-settled SAR or other stock-based award are counted against the shares authorized for issuance, regardless of the number of shares actually issued. Furthermore, any shares withheld to satisfy tax withholding obligations on awards issued under the amended 2017 plan, any shares withheld to pay the exercise price or grant price of awards under the amended 2017 plan and any shares not issued or delivered as a result of the “net exercise” of an outstanding option or settlement of a SAR in shares are counted against the shares authorized for issuance under the amended 2017 plan and are not available again for grant under the amended 2017 plan. Any shares subject to awards settled in cash will again be available for issuance under the amended 2017 plan. Any shares repurchased by Century on the open market using the proceeds from the exercise of an award will not increase the number of shares available for future grant of awards. Any shares related to awards granted under the amended 2017 plan, and shares related to awards granted under the 2017 plan and 2013 plan, that terminate by expiration, forfeiture, cancellation or otherwise without the issuance of the shares, will be available again for grant under the amended 2017 plan and correspondingly increase the total number of shares available for issuance under the amended 2017 plan. To the extent permitted by applicable law, shares issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by Century or a subsidiary or otherwise will not be counted against shares available for issuance pursuant to the amended 2017 plan. The shares available for issuance under the amended 2017 plan may be authorized and unissued shares or treasury shares.
Annual Award Limits	The following limits are per participant per fiscal year. ·500,000 shares subject to stock options and SARs; ·500,000 shares subject to restricted stock awards, restricted stock units and deferred stock units; ·$15,000,000 in performance awards denominated in cash or 750,000 shares of common stock for performance awards denominated in shares; ·$15,000,000 in annual performance cash awards; ·$15,000,000 in other cash-based awards; and ·500,000 shares granted under other stock-based awards.
Non-Employee Director Limits	The sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of awards granted to a non-employee director as compensation for services as a non-employee director during any fiscal year may not exceed $400,000 (increased to $600,000 with respect to any non-employee director serving as Chairman of the Board or Lead Independent Director or in the fiscal year of a non-employee director's initial service as a non-employee director). Any compensation that is deferred counts towards this limit for the year in which the compensation is first earned, and not a later year of settlement.

Adjustments	In the event of any reorganization, merger, consolidation, recapitalization, liquidation, reclassification, stock dividend, stock split, combination of shares, rights offering, divestiture or extraordinary dividend (including a spin off) or other similar change in the corporate structure or shares of common stock of Century, the Compensation Committee will make the appropriate adjustment or substitution. These adjustments or substitutions may be to the number and kind of securities and property that may be available for issuance under the amended 2017 plan. In order to prevent dilution or enlargement of the rights of participants, the Compensation Committee may also adjust the number, kind, and exercise price of securities or other property subject to outstanding awards.
Minimum Vesting Requirements	The amended 2017 plan provides that no awards will vest earlier than one year from the grant date and any awards that vest upon the attainment of performance goals will have a minimum performance period of one year. There is an exception with respect to shares of common stock that do not exceed 5% of the total number of shares of common stock authorized for awards under the amended 2017 plan. There is also an exception for shares delivered in lieu of fully vested cash awards and awards to non-employee directors that vest on the earlier of the one year anniversary of the date of grant or the next annual meeting of stockholders which is at least 50 weeks after the immediately preceding year’s annual meeting.
Holding Period	Any net shares of common stock received by an executive officer participant in connection with the vesting or settlement of an award under the amended 2017 plan must be held by such participant for at least 12 months after such vesting or settlement, or if earlier, termination of employment or satisfaction of Century’s stock ownership guidelines, if applicable and as in effect from time to time. In addition, the Committee may in its discretion impose a more restrictive holding period on an award in an individual award agreement similar to the one-year mandatory holding period that commences after the vesting of certain PSU awards granted to executives in April 2018, which one-year mandatory holding period supersedes and replaces the holding period provided in the plan. This holding period lapses only upon a termination due to death or disability or in connection with a change in control.
Eligible Participants	Awards may be granted to employees, non-employee directors and consultants of Century or any of its subsidiaries. A “consultant” is one who renders services that are not in connection with the offer and sale of our securities in a capital raising transaction and do not directly or indirectly promote or maintain a market for our securities. As of March 14, 2019, 1,334 employees, three non-employee directors and approximately 200 independent consultants would have been eligible to participate in the amended 2017 plan had it been approved by our stockholders at such time.
Types of Awards	The amended 2017 plan will permit us to grant non-statutory and incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units, deferred stock units, performance awards, annual performance cash awards, non-employee director awards, other cash-based awards and other stock based awards. Awards may be granted either alone or in addition to or in tandem with any other type of award.

Stock Options	Stock options entitle the holder to purchase a specified number of shares of our common stock at a specified price, which is called the exercise price, subject to the terms and conditions of the stock option grant. The amended 2017 plan permits the grant of both non-statutory and incentive stock options. Incentive stock options may be granted solely to eligible employees of Century or its subsidiary. Each stock option granted under the amended 2017 plan must be evidenced by an award agreement that specifies the exercise price, the term, the number of shares underlying the stock option, the vesting and any other conditions. The exercise price of each stock option granted under the amended 2017 plan must be at least 100% of the fair market value of a share of our common stock as of the date the award is granted to a participant. Fair market value is the closing price of our common stock, as reported on the NYSE. The closing price of our common stock, as reported on the NYSE, on March 14, 2019, was $23.50 per share. The Compensation Committee will fix the terms and conditions of each stock option, subject to certain restrictions, such as a ten-year maximum term.
Stock Appreciation Rights	A stock appreciation right, or SAR, is a right granted to receive payment of cash, stock or a combination of both, equal to the difference between the fair market value of shares of our common stock and the grant price of such shares. Each SAR granted must be evidenced by an award agreement that specifies the grant price, the term, and such other provisions as the Compensation Committee may determine. The grant price of a SAR must be at least 100% of the fair market value of our common stock on the date of grant. The Compensation Committee will fix the term of each SAR, but SARs granted under the amended 2017 plan will not be exercisable more than 10 years after the date the SAR is granted.
Restricted Stock Awards, Restricted Stock Units and Deferred Stock Units	Restricted stock awards, restricted stock units, or RSUs, and/or deferred stock units may be granted under the amended 2017 plan. A restricted stock award is an award of common stock that is subject to restrictions on transfer and risk of forfeiture upon certain events, typically including termination of service. RSUs or deferred stock units are similar to restricted stock awards except that no shares are actually awarded to the participant on the grant date. Deferred stock units permit the holder to receive shares of common stock or the equivalent value in cash or other property at a future time as determined by the Compensation Committee. The Compensation Committee will determine, and set forth in an award agreement, the period of restriction, the number of shares of restricted stock awards or the number of RSUs or deferred stock units granted, the time of payment for deferred stock units and other such conditions or restrictions.
Performance Awards	Performance awards, in the form of cash, shares of common stock, other awards or a combination of both, may be granted under the amended 2017 plan in such amounts and upon such terms as the Compensation Committee may determine. The Compensation Committee shall determine, and set forth in an award agreement, the amount of cash and/or number of shares or other awards, the performance goals, the performance periods and other terms and conditions. The extent to which the participant achieves his or her performance goals during the applicable performance period will determine the amount of cash and/or number of shares or other awards earned by the participant. At any time during a performance period of more than one fiscal year, the Compensation Committee may, in its discretion, cancel a portion of, or scale back, unvested performance awards under certain circumstances set forth in the amended 2017 plan, including that the performance goals for the performance period cannot be achieved at the maximum levels established at the time of grant.

Annual Performance Cash Awards	Annual performance cash awards may be granted under the amended 2017 plan in such amounts and upon such terms as the Compensation Committee may determine, based on the achievement of specified performance goals for annual periods or other time periods as determined by the Compensation Committee. The Compensation Committee will determine the target amount that may be paid with respect to an annual performance award, which will be based on a percentage of a participant’s actual annual base compensation at the time of grant. The Compensation Committee may establish a maximum potential payout amount with respect to an annual performance award in the event performance goals are exceeded by an amount established by the Compensation Committee at the time performance goals are established. The Compensation Committee may establish measurements for prorating the amount of payouts for achievement of performance goals at less than or greater than the target payout but less than the maximum payout.
Non-Employee Director Awards	The Compensation Committee at any time and from time to time may approve resolutions providing for the automatic grant to non-employee directors of non-statutory stock options, SARs or full value awards. The Compensation Committee may also at any time and from time to time grant on a discretionary basis to non-employee directors non-statutory stock options, SARs or full value awards. In either case, any such awards may be granted singly, in combination, or in tandem, and may be granted pursuant to such terms, conditions and limitations as the Compensation Committee may establish in its sole discretion consistent with the provisions of the amended 2017 plan. The Compensation Committee may permit non-employee directors to elect to receive all or any portion of their annual retainers, meeting fees or other fees in restricted stock, RSUs, deferred stock units or other stock-based awards in lieu of cash. Any awards granted to non-employee directors under the amended 2017 plan must be made by a committee consisting solely of directors who are “independent directors” under the NYSE rules and will not be subject to management’s discretion.
Other Cash-Based Awards and Other Stock-Based Awards	Consistent with the terms of the 2017 plan, other cash-based awards that are not annual performance cash awards and other stock-based awards may be granted to participants in such amounts and upon such terms as the Compensation Committee may determine.
Performance Measures	The performance goals selected by the Compensation Committee may be based on any one or more performance measures, including those listed in the amended 2017 plan. Any of the performance measures can be used in an algebraic formula (e.g., averaged over a period), combined into a ratio, compared to a budget or standard, compared to previous periods or other formulaic combinations. Any of the performance measures specified in the amended 2017 plan may be used to measure the performance of Century or any subsidiary, as a whole, or any division or business unit, product or product group, region or territory, or any combination thereof, as the Compensation Committee deems appropriate. Performance measures may be compared to the performance of a peer group or a published or special index that the Compensation Committee deems appropriate or, with respect to share price, various stock market indices. The Compensation Committee also may provide for accelerated vesting of any award based on the achievement of performance goals. The Compensation Committee may amend or modify the vesting criteria (including any performance goals, performance measures or performance periods) of any outstanding awards based in whole or in part on the financial performance of Century (or any subsidiary or division, business unit or other sub-unit thereof) in recognition of unusual or nonrecurring events affecting Century or the financial statements of Century or of changes in applicable laws, regulations or accounting principles, whenever the Compensation Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under the amended 2017 plan.

	In the event a participant’s employment or other service with Century is terminated by reason other than for cause, death, disability or retirement, then: ·All outstanding stock options (including non-employee director options) and SARs held by the participant that then are exercisable will remain exercisable for three months after the date of such termination, but will not be exercisable later than the date the stock options or SARs expires; and ·All outstanding unvested restricted stock awards, performance awards, annual performance cash awards, other cash-based awards and other stock-based awards will be terminated and forfeited. However, with respect to any awards that vest based on the achievement of performance goals, if a participant’s employment or other service with Century or any subsidiary is terminated prior to the end of the performance period of such award, but after the conclusion of a portion of the performance period (but in no event less than one year), the Compensation Committee may, in its sole discretion, cause shares to be delivered or payment made with respect to the participant’s award, but only if otherwise earned for the entire performance period and only with respect to the portion of the applicable performance period completed at the date of such event, with proration based on the number of months or years that the participant was employed or performed services during the performance period.
Modification of Rights upon Termination	Upon a participant’s termination of employment or other service with Century or any subsidiary, the Compensation Committee may, in its sole discretion (which may be exercised at any time on or after the grant date, including following such termination) cause stock options or SARs (or any part thereof) held by such participant as of the effective date of such termination to terminate, become or continue to become exercisable or remain exercisable following such termination of employment or service, and restricted stock, RSUs, performance awards, annual performance cash awards, non-employee director awards, other cash-based awards and other stock-based awards held by such participant as of the effective date of such termination to terminate, vest or become free of restrictions and conditions to payment, as the case may be, following such termination of employment or service, in each case in the manner determined by the Compensation Committee; provided, however, that (a) no stock option or SAR may remain exercisable beyond its expiration date; and (b) any such action by the Compensation Committee adversely affecting any outstanding award will not be effective without the consent of the affected participant, except to the extent the Compensation Committee is authorized by the amended 2017 plan to take such action.
Forfeiture and Recoupment	If a participant is determined by the Compensation Committee to have taken any action while providing services to Century or after termination of such services, that would constitute “cause” or an “adverse action,” as such terms are defined in the amended 2017 plan, all rights of the participant under the amended 2017 plan and any agreements evidencing an award then held by the participant will terminate and be forfeited. The Compensation Committee has the authority to rescind the exercise, vesting, issuance or payment in respect of any awards of the participant that were exercised, vested, issued or paid, and require the participant to pay to Century, within 10 days of receipt of notice, any amount received or the amount gained as a result of any such rescinded exercise, vesting, issuance or payment. Century may defer the exercise of any stock option or SAR for up to six months after receipt of notice of exercise in order for the Compensation Committee to determine whether “cause” or “adverse action” exists. Century is entitled to withhold and deduct future wages to collect any amount due.


Type of Fees	2015		2014
Audit Fees	$	795,000	$	1,530,000
Audit Related Fees		0		0
Tax Fees		110,803		56,513
All Other Fees		4,125		0

Total Fees	$	909,928	$	1,586,513


Amount and Nature of Beneficial Ownership as of March 28, 2016

Name and Address of Beneficial Owner	Title / Position	Shares Owned		Percentage
Directors and Named Executive Officers:
Dale Francescon⁽¹⁾	Chairman of our Board of Directors and Co-Chief Executive Officer		2,983,479		14.12	%
Robert J. Francescon⁽²⁾	Co-Chief Executive Officer, President and Director		2,883,479		13.65	%
David L. Messenger	Chief Financial Officer		156,795		*
James M. Lippman	Director		11,157		*
Keith R. Guericke	Director		11,157		*
John P. Box	Director		22,657		*
All directors and executive officers as a group (6 persons)			6,068,724		28.73	%

5% or more Stockholders:
Dale Francescon⁽¹⁾			2,983,479		14.12	%
Robert J. Francescon⁽²⁾			2,883,479		13.65	%
Capital World Investors⁽³⁾			1,716,000		8.12	%
Oaktree Value Equity Holdings, L.P., et al.⁽⁴⁾			1,469,003		6.95	%


Named Executive Officer	2014 Base Salary		2015 Base Salary		Change (%)
Dale Francescon	$	750,000	$	750,000		0.0	%
Robert J. Francescon	$	750,000	$	750,000		0.0	%
David L. Messenger	$	400,000	$	425,000		6.25	%


Performance Measure	Threshold		Target		Maximum		Actual
Closings		1,700		2,000		2,300		2,401
Revenue	$	552.5 million	$	650.0 million	$	747.5 million	$	734.5 million
EBITDA⁽¹⁾	$	53.6 million	$	63.0 million	$	72.5 million	$	79.2 million


	Non-equity Incentive Plan Compensation
Executive Officer	2014⁽¹⁾		2015⁽²⁾
Dale Francescon	$	1,687,500	$	1,500,000
Robert J. Francescon	$	1,687,500	$	1,500,000
David L. Messenger	$	600,000	$	600,000

Named Executive Officer	Threshold Payout ($)	Target Payout ($)	Maximum Payout ($)	Actual Payout ($)
Dale Francescon	743,750	1,487,500	2,975,000	2,506,812
Robert J. Francescon	743,750	1,487,500	2,975,000	2,506,812
David L. Messenger	275,000	550,000	1,100,000	951,686


Name	Benefit	Termination without Cause or Good Reason Prior to Change in Control		Termination without Cause or Good Reason within 24 Months Following Change in Control		Voluntary Termination; Death, Disability
Dale Francescon	Severance Pay	$	4,500,000	$	4,500,000		—
	Incentive Pay	$	2,250,000	$	3,375,000		—
	Stock Vesting	$	3,536,563	$	3,536,563		—
	Other Benefits ⁽¹⁾	$	16,986	$	16,986	$	16,986


Robert J. Francescon	Severance Pay	$	4,500,000	$	4,500,000		—
	Incentive Pay	$	2,250,000	$	3,375,000		—
	Stock Vesting	$	3,536,563	$	3,536,563		—
	Other Benefits ⁽²⁾	$	23,193	$	23,193	$	23,193


David L. Messenger	Severance Pay		—		—		—
	Incentive Pay		—		—		—
	Stock Vesting		—		—		—
	Other Benefits		—		—		—


Name and Principal Position	Year		Salary ($)⁽¹⁾		Bonus ($)⁽²⁾		Stock Awards ($)⁽³⁾		Non-equity Incentive Plan Compensation ($)⁽⁴⁾		All Other Compensation ($)⁽⁵⁾		Total ($)
Dale Francescon,		2015		750,000		—		2,249,986		1,500,000		65,609		4,565,595
Co-Chief Executive Officer		2014		681,891		250,000		1,499,990		1,687,500		66,842		4,186,223
		2013		466,666		—		1,260,000		1,500,000		55,400		3,282,066


Robert J. Francescon,		2015		750,000		—		2,249,986		1,500,000		65,609		4,565,595
Co-Chief Executive Officer and President		2014		681,891		250,000		1,499,990		1,687,500		66,842		4,186,223
Co-Chief Executive Officer and President		2013		466,666		—		1,260,000		1,500,000		55,400		3,282,066


David L. Messenger,		2015		415,909		—		599,990		600,000		6,000		1,621,899
Chief Financial Officer		2014		355,320		125,000		1,000,000		600,000		6,000		2,086,320
		2013		135,417		250,000		242,500		—		3,500		631,417


Name	Grant Date		Shares of Restricted Stock (#)		Fair Value on Grant Date ($/share)		Grant Date Fair Value of Restricted Stock Awards
Dale Francescon		2/18/2015		131,964	$	17.05	$	2,249,986
Robert J. Francescon		2/18/2015		131,964	$	17.05	$	2,249,986
David L. Messenger		2/18/2015		35,190	$	17.05	$	599,990