KB Home awards bonuses to execs

From Times Staff and Wire Reports

KB Home Chief Executive Jeffrey T. Mezger has been awarded a $6-million bonus for his job performance in fiscal 2007, the company said in a filing at the Securities and Exchange Commission.

The Los Angeles home builder also designated bonuses ranging from $350,000 to $450,000 for three other senior executives.

KB Home has been battered by the U.S. housing slump. It lost $929.4 million for its fiscal year ended Nov. 30, and sales fell 32% to $6.4 billion.