KB HOME 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds The following table summarizes purchases of our own equity securities during the three months ended May 31, 2023 (dollars in thousands, except per share amounts): Period Total Number of Shares Purchased Average Price Paid per Share (a) Dollar Value of Shares Purchased as Part of Publicly Announced Plans or Programs (a) Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (a) (b) March 1-31 — $ — $ — $ 500,000 April 1-30 1,236,197 40.92 50,590 449,410 May 1-31 926,685 44.78 41,498 407,912 Total 2,162,882 $ 42.58 $ 92,088 (a) The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. All dollar amounts presented exclude such excise taxes, as applicable. (b) On March 21, 2023, our board of directors authorized us to repurchase up to $500.0 million of our outstanding common stock, excluding excise tax. This authorization replaced a prior board of directors authorization, which had $75.0 million remaining, excluding excise tax. In the 2023 second quarter, we repurchased 2,162,882 shares of our common stock on the open market pursuant to the current authorization at a total cost of $92.1 million. As of May 31, 2023, we were authorized to repurchase up to $407.9 million of common stock in additional transactions, excluding excise tax. 46 Item 6. Exhibits Exhibits 10.35 Amended and Restated KB Home 2014 Equity Incentive Plan, effective April 20, 2023. 22 List of Guarantor Subsidiaries, filed as an exhibit to our Annual Report on Form 10-K for the year ended November 30, 2022 (File No. 001-09195), is incorporated by reference herein. 31.1 Certification of Jeffrey T. Mezger, Chairman, President and Chief Executive Officer of KB Home Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 . 31.2 Certification of Jeff J. Kaminski, Executive Vice President and Chief Financial Officer of KB Home Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 . 32.1 Certification of Jeffrey T. Mezger, Chairman, President and Chief Executive Officer of KB Home Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 . 32.2 Certification of Jeff J. Kaminski, Executive Vice President and Chief Financial Officer of KB Home Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 . 101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.SCH Inline XBRL Taxonomy Extension Schema Document 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). 47 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. KB HOME Registrant Dated July 7, 2023 By: /s/ JEFF J. KAMINSKI Jeff J. Kaminski Executive Vice President and Chief Financial Officer (Principal Financial Officer) Dated July 7, 2023 By: /s/ WILLIAM R. HOLLINGER William R. Hollinger Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) 48