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<P ALIGN="CENTER"><FONT SIZE=2><B>As filed with the Securities and Exchange Commission on September&nbsp;14, 2001.  </B></FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2><B> Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>WASHINGTON, D.C. 20549  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>FORM S-8/S-3<BR>  </B></FONT><FONT SIZE=2><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>BEAZER HOMES USA,&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>

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<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2><B>Delaware</B></FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2><B>54-2086934</B></FONT></TD>
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<TD WIDTH="50%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>(IRS Employer Identification No.)</FONT></TD>
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<TD WIDTH="50%" ALIGN="CENTER"><BR><FONT SIZE=2><B>5775 Peachtree Dunwoody Road, Suite B-200<BR>
Atlanta, Georgia<BR> </B></FONT><FONT SIZE=2>(Address of Principal Executive Offices)</FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><BR><FONT SIZE=2><B>30342<BR> </B></FONT><FONT SIZE=2>(Zip Code)</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=3><B>BEAZER HOMES USA,&nbsp;INC.<BR>
1999 STOCK INCENTIVE PLAN<BR>
AMENDED AND RESTATED 1994 STOCK INCENTIVE PLAN  </B></FONT></P>

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<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2>Ian J. McCarthy<BR>
President and Chief Executive Officer<BR>
Beazer Homes USA, Inc.<BR>
5775 Peachtree Dunwoody Road, Suite B-200<BR>
Atlanta, Georgia 30342<BR>
(Name and address of agent for service)</FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2>Please address a copy of all communications to:<BR>
<BR>
Elizabeth H. Noe<BR>
Paul, Hastings, Janofsky &amp; Walker LLP<BR>
Suite 2400<BR>
600 Peachtree Street, N.E.<BR>
Atlanta, Georgia 30308-2222<BR>
Telephone: 404-815-2287</FONT></TD>
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<TD WIDTH="50%" ALIGN="CENTER" VALIGN="TOP"><BR><FONT SIZE=2><B>(404) 250-3420<BR> </B></FONT><FONT SIZE=2>(Telephone number, including area code,<BR>
of agent for service)</FONT></TD>
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&nbsp;</FONT></TD>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Approximate date of commencement of proposed sale to public:</B></FONT><FONT SIZE=2>&nbsp;&nbsp;By Beazer Homes USA,&nbsp;Inc., in accordance with the
terms of the 1999 Stock Incentive Plan and Amended and Restated 1994 Stock Incentive Plan after the effective date of this Registration Statement. By the selling stockholders, from time to time after
the effective date of this Registration Statement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If
the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.&nbsp;/&nbsp;/ </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, other than
securities offered only in connection with dividend or interest reinvestment plans, check the following box.&nbsp;/x/ </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>

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<TD WIDTH="35%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Title of Securities to be Registered</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount to be Registered(1)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed Maximum Offering Price Per Share(2)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed Maximum Aggregate Offering Price(2)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount of Registration Fee(1)(3)</B></FONT></TD>
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<TD WIDTH="35%"><FONT SIZE=2><B>Common Stock $0.01 Par Value Per Share</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT SIZE=2><B>2,175,000</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT SIZE=2><B>$56.38</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER"><FONT SIZE=2><B>$122,626,500</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT SIZE=2><B>$30,657</B></FONT></TD>
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<TD WIDTH="35%"><FONT SIZE=2><B>Preferred Stock Purchase Rights (3)</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT SIZE=2><B>2,175,000</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<DT><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>675,000
shares of Common Stock of the Registrant were previously registered pursuant to the Registrant's Registration Statement on Form&nbsp;S-8/S-3,
Registration No.&nbsp;333-24765 (the "Original Registration Statement") with respect to the Beazer Homes USA,&nbsp;Inc. 1994 Stock Incentive Plan. The 1994 Stock Incentive Plan is now
known as the Amended and Restated 1994 Stock Incentive Plan. Beazer paid a filing fee of $3,067.71 in connection with the registration of its Common Stock pursuant to the Original Registration
Statement of which $2,669 was attributable to the 675,000 shares related to the Amended and Restated 1994 Stock Incentive Plan. The distribution of such shares has not been completed. The Registrant
has amended the Amended and Restated 1994 Stock Incentive Plan since the filing of the Original Registration Statement to increase the number of shares available for issuance thereunder. This
registration statement on Form&nbsp;S-8/S-3 is filed to register an additional 800,000 shares of Common Stock with respect to the Amended and Restated 1994 Stock Incentive
Plan. In accordance with General Instruction E to Form&nbsp;S-8, the Registrant incorporates by reference the contents of the Original Registration Statement, filed on April&nbsp;7,
1997. This Registration Statement is also filed to register 700,000 shares of Common Stock with respect to the 1999 Stock Incentive Plan. Upon a stock split, stock dividend or similar transaction in
the future and during the effectiveness of this Registration Statement involving Common Stock of the Registrant, the number of shares registered shall be automatically increased to cover the
additional shares in accordance with Rule&nbsp;416(a) under the Securities Act of 1933, as amended.
<BR><BR></FONT></DD><DT><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Estimated
solely for the purpose of calculating the amount of the registration fee in accordance with Rule&nbsp;457(h)(1) under the Securities Act of 1933, as amended. The
offering price is calculated pursuant to Rule&nbsp;457(c) based on the average of the high and low sales prices ($56.38 per share) of the Common Stock of the Registrant on the New York Stock
Exchange on September&nbsp;10, 2001.
<BR><BR></FONT></DD><DT><FONT SIZE=2>(3)</FONT></DT><DD><FONT SIZE=2>Rights
are attached to and trade with the Common Stock of the Registrant. Value attributable to such Rights, if any, is reflected in the market price of the Common Stock; therefore,
no additional registration fee is required. </FONT></DD></DL>
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<BR></FONT><FONT SIZE=2><B>PART I<BR>  <BR>    INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS    <BR>  </B></FONT></P>

<P><FONT SIZE=2><B>Item 1. Plan Information*  </B></FONT></P>

<P><FONT SIZE=2><B>Item 2. Registrant Information and Employee Plan Annual Information*  </B></FONT></P>

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<DT><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Information
required by Part&nbsp;I to be contained in the Section&nbsp;10(a) prospectus is omitted from the registration statement in accordance with Rule&nbsp;428 under the
Securities Act of 1933 and the Note to Part&nbsp;I of Form&nbsp;S-8. </FONT></DD></DL>
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<BR></FONT><FONT SIZE=2><B><U>PROSPECTUS</U>    <BR>    <BR>    Beazer Homes USA,&nbsp;Inc.<BR>  Up to 2,175,000 Shares of<BR>  Common Stock    <BR>  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;The stockholders of Beazer identified in this prospectus may offer and resell the shares from time to time, for their own accounts. See "Selling Stockholders." The selling
stockholders have acquired or may acquire the shares pursuant to the terms of the Beazer Amended and Restated 1994 Stock Incentive Plan or the Beazer 1999 Stock Incentive Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
selling stockholders will receive all of the net proceeds from the sale of the shares. These stockholders will pay all underwriting discounts and selling commissions, if any,
applicable to the sale of the shares. Beazer will not receive any proceeds from the sale of the shares. The selling stockholders may offer their Beazer stock through public or private transactions, at
prevailing market prices or at privately negotiated prices. Such future prices are not currently known. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Beazer
common stock is reported on the New York Stock Exchange under the symbol "BZH." On September&nbsp;10, 2001, the last reported sale price of the common stock was $55.29 per
share. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;You
should carefully consider the "Risk Factors" beginning on page&nbsp;3 of this prospectus before purchasing any of the Common Stock. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;These
securities have not been approved or disapproved by the Securities and Exchange Commission or any state securities commission nor has the Securities and Exchange Commission or
any state securities commission passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2>The
date of this prospectus is September&nbsp;14, 2001. </FONT></P>

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<BR></FONT><FONT SIZE=2><B>TABLE OF CONTENTS    <BR>  </B></FONT></P>

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<TD WIDTH="94%"><FONT SIZE=2>FORWARD-LOOKING INFORMATION</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
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<TD WIDTH="94%"><FONT SIZE=2>THE COMPANY</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="94%"><FONT SIZE=2>RISK FACTORS</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="94%"><FONT SIZE=2>USE OF PROCEEDS</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
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<TD WIDTH="94%"><FONT SIZE=2>SELLING STOCKHOLDERS</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
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<TD WIDTH="94%"><FONT SIZE=2>PLAN OF DISTRIBUTION</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
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<TD WIDTH="94%"><FONT SIZE=2>LEGAL MATTERS</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
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<TD WIDTH="94%"><FONT SIZE=2>EXPERTS</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="94%"><FONT SIZE=2>WHERE TO FIND MORE INFORMATION ABOUT BEAZER</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
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<TD WIDTH="94%"><FONT SIZE=2>INCORPORATION OF DOCUMENTS BY REFERENCE</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;You
should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with information different from that contained in the prospectus.
The selling stockholders are offering to sell, and seeking offers to buy, shares of Beazer's common stock only in jurisdictions where offers and sales are permitted. The information contained in this
prospectus is accurate as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of the shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In
this prospectus, unless indicated otherwise, "Beazer," "we," "us," and "our," refer to Beazer Homes USA,&nbsp;Inc. and its subsidiaries. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg1464_forward-looking_information"> </A>
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<BR></FONT><FONT SIZE=2><B>FORWARD-LOOKING INFORMATION    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This prospectus and the documents incorporated herein by reference contain forward-looking statements. Beazer bases these statements on its current
expectations, estimates and projections about its industry. Either the beliefs of management, or assumptions made by management, form the basis for those expectations, estimates and projections. The
safe-harbor created by Section&nbsp;27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), generally protects Beazer and the Selling Stockholders from liability for these statements. You can often recognize such forward-looking statements by words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words, and similar expressions. Our actual results could differ materially from those projected in the
forward-looking statements as a result of the risk factors set forth below. The documents incorporated by reference may also set forth risks and uncertainties that could cause actual results to differ
materially and adversely from those discussed in the forward-looking statements. We undertake no obligation to publicly update any of these forward-looking statements to reflect new information or
future events. </FONT></P>

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<BR></FONT><FONT SIZE=2><B>THE COMPANY    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Beazer designs, builds and sells single family homes in the southeast and southwest regions of the United States, as well as in Texas. Beazer's southeast
region includes Georgia, North Carolina, South Carolina, Tennessee and Florida, its west region includes Arizona, California, Colorado and Nevada, its central region covers Texas and its
mid-Atlantic region covers Maryland, New Jersey, Pennsylvania and Virginia. Beazer's homes are designed to appeal primarily to entry-level and first-time move-up
homebuyers. Beazer intends, subject to market conditions, to expand in its existing markets and to consider entering into new markets through expansion from existing markets or through market
acquisitions of established regional homebuilders. While future acquisition opportunities may be considered, Beazer currently has no plans, agreements or understandings with respect to any such
expansion through acquisition. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Beazer's
objective is to provide its customers with homes that incorporate quality and value while seeking to maximize its return on invested capital. To achieve this objective, we
have developed a business strategy which focuses on the following elements: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Geographic Diversity and Growth Markets.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;We compete in a large number of geographically diverse markets in an attempt
to reduce our exposure to any particular regional economy. Virtually all of the
markets in which we operate have experienced significant population growth in recent years. Within these markets, we build homes in a variety of projects, typical with fewer than 150 homesites. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Quality Homes for Entry-Level and First Move-Up Home Buyers.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;We seek to maximize customer satisfaction by
offering homes which incorporate quality materials, distinctive design features, convenient locations and competitive prices. We focus on entry-level and first time move-up buyers because
our management believes they represent the largest segment of the homebuilding market. During fiscal year 2000, the average sales price of Beazer's homes was approximately $190,700. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Additional Products and Services for Homebuyers.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;In order to maximize our profitability and provide our homebuyers with
the additional products and services that they desire, we have incorporated design centers, mortgage origination operations, title services and insurance services into our business. Recognizing that
homebuyers want to choose certain components of their new home, we began offering limited customization through the use of design centers in most of our markets. These design centers allow the
homebuyer to select certain non-structural customizations for their homes such as cabinetry, flooring, fixtures, appliances and wallcoverings. Additionally, recognizing the homebuyer's
desire to simplify the financing process, we began originating mortgages on behalf of our customers through Beazer Mortgage Corp. Beazer offers title services and homeowners and other insurance to our
homebuyers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Decentralized Operations with Experienced Management.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;We believe our in-depth knowledge of our local
markets enables us to better serve our customers. Our local managers, who have significant experience in both the homebuilding industry and the markets they serve, are responsible for operating
decisions regarding design, construction and marketing. We combine these decentralized operations with a centralized corporate-level management which controls decisions regarding overall strategy,
land acquisitions and financial matters. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Conservative Land Policies.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;We seek to maximize our return on capital by limiting our investment in land and by
focusing on inventory turnover. To implement this strategy and to reduce the risks associated with investments in land, we use options to control land whenever possible. In addition, we do not
speculate in unentitled land. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our
principal executive offices are located at 5775 Peachtree Dunwoody Road, Suite B-200, Atlanta, Georgia 30342. The telephone number is
(404)&nbsp;250-3420. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<BR></FONT><FONT SIZE=2><B>RISK FACTORS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>In addition to the other information contained in, or incorporated by reference in, this prospectus, the following factors should be
considered carefully before purchasing any of the shares of common stock.</I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>The homebuilding industry is cyclical and is significantly affected by macro economic and other factors outside of our control such as consumer confidence,
interest rates and employment levels.</I></B></FONT><FONT SIZE=2> Because of the long-term financial commitment involved in purchasing a home, general economic uncertainties tend to result in
more caution on the part of homebuyers and consequently fewer home purchases. While we believe the overall demand for new housing over time should remain stable, these uncertainties could periodically
have an adverse affect on our operating performance and the market price of our securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In
addition, homebuilders are subject to various risks, many of which are outside the control of the homebuilder. These conditions include: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>conditions
of supply and demand in local markets; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>weather
conditions and natural disasters, such as hurricanes, earthquakes and wildfires; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>delays
in construction schedules; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>cost
overruns on land development and home construction; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>changes
in government regulations; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>increases
in real estate taxes and other local government fees; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>availability
and cost of land, materials and labor. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Although
the principal raw materials used in the homebuilding industry generally are available from a variety of sources, such materials are subject to periodic price fluctuations.
There can be no assurance that the occurrence of any of the foregoing will not have a material adverse effect on us. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Our quarterly results may fluctuate, which could cause our stock price to fall.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;While we have
reported positive annual net income for each of the past six fiscal years, our quarterly results of operations have varied significantly and may continue to do so in the future as a result of a
variety of factors both nationally and locally, many of which are outside our control. These factors include: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
timing of home closings and land sales; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
ability to continue to acquire additional land or secure option contracts to acquire land on acceptable terms; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>land
development and construction delays; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>seasonal
home buying patterns; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>delays
in the opening of new active subdivisions by us or our competitors, or market acceptance of the products and services provided in those communities; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>changes
in our pricing policies or those of our competitors; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>other
changes in operating expenses, personnel and general economic conditions. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>As
a result, we believe that quarter-to-quarter comparisons of our operating results are not necessarily meaningful, and you should not rely on them as an indication of our
future performance. In addition, our operating results in a future quarter or quarters may fall below expectations of securities analysts or investors and, as a result, the price of our common stock
may fluctuate. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;We are dependent on the availability of mortgage financing and homeowners' insurance for our customers.</I></B></FONT><FONT SIZE=2>
&nbsp;&nbsp;Virtually all purchasers of our homes finance their acquisitions through lenders providing mortgage financing. A substantial increase in mortgage interest rates would affect the
ability of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<P><FONT SIZE=2>
prospective first time and move up homebuyers to obtain financing for our homes, as well as affect the ability of prospective move up homebuyers to sell their current homes. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any
significant natural disaster will impact our business and the entire homebuilding industry. Any significant restrictions by insurance companies in any of the states in which we
operate on the availability or substantial increases in the costs of homeowners insurance will also adversely affect our industry. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;The homebuilding industry is highly competitive and fragmented.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;The competition in the
homebuilding industry is intense. Some of our competitors have substantially greater financial resources and lower costs of funds than we do. Many of these competitors also have longstanding
relationships with subcontractors and suppliers in the markets in which we operate. There can be no assurance that we will be able to compete successfully in our markets against these competitors. </FONT></P>


<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;The barriers to entry into our business are currently low.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;There are relatively low barriers to
entry into our business. We do not own any technologies that preclude or inhibit competitors from entering our markets. Our competitors may independently develop land and construct housing units that
are superior or substantially similar to our products. We currently build in several of the top markets in the nation and, therefore, we expect to continue to face additional competition from new
entrants into our markets. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Our level of indebtedness could adversely affect the financial health of the company and prevent us from fulfilling our obligations
under our debt securities.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;We currently have a significant amount of indebtedness. Our ability to make payments of principal or interest on, or to refinance our
indebtedness will depend on: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
future operating performance; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
ability to enter into additional debt and/or equity financings. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Both
of these factors are subject, to a certain extent, to economic, financial, competitive and other factors beyond our control. If we are unable to generate sufficient cash flow in
the future to service our debt, we may be required to refinance all or a portion of our existing debt or to obtain additional financing. There can be no assurance that any such refinancing would be
possible or that any additional financing could be obtained. The inability to obtain additional financing could have a material adverse effect on us. Our substantial indebtedness could have important
consequences to the holders of securities, including: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
may be more vulnerable to adverse general economic and industry conditions; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
may find it more difficult to fund future working capital, land purchases, acquisitions, general corporate purposes or other purposes; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
will have to dedicate a substantial portion of our cash resources to the payments on our indebtedness, thereby reducing the funds available for
operations and future business opportunities. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Failure to implement our business strategy could adversely affect our operations.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Our financial
position and results of operations depend on our ability to execute our business strategy. Our ability to execute our business strategy depends on our ability: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
continue to improve profitability; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
identify and acquire attractive parcels of land on which to build our homes; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
expand our market share in regions where we are not currently a top five builder; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
identify, acquire and successfully integrate new business acquisitions; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
attract and retain skilled employees. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>Our
failure or inability to execute our business strategy could materially adversely affect our financial position, liquidity and results of operations. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Our business would be adversely affected if future, more onerous government regulations were
enacted.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;We and our competitors are subject to local, state and federal statutes and rules regulating: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>certain
developmental matters; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>building
and site design; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>matters
concerning the protection of health and the environment; and </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>mortgage
origination procedures. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>These
regulations vary greatly by community and consist of items such as: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>impact
fees, some of which may be substantial, which may be imposed to defray the cost of providing certain governmental services and improvements; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>"no
growth" or "slow growth" initiatives, which may be adopted in communities which have developed rapidly; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>building
permit allocation ordinances; </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>building
moratoriums; or </FONT></DD><DT><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>similar
governmental regulations that could be imposed in the future. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We
believe we are in substantial compliance with current laws and regulations. We further believe that these laws and regulations have had no material adverse effect on our ability to
operate our business. Changes in existing laws or regulations, or in their interpretation, or the adoption of any additional laws or regulations, could have a material adverse effect on our business. </FONT></P>


<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;If we are unable to retain skilled personnel, our business could be adversely affected.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Our
future success depends upon our ability to attract, train, assimilate and retain skilled personnel and subcontractors. Competition for qualified personnel and subcontractors in all of our operating
markets is intense. A significant increase in the number of our active communities would necessitate the hiring of a significant number of additional construction managers and subcontractors, each of
which is in short supply in our markets. We cannot assure you that we will be able to retain our key employees or that we can attract, train, assimilate or retain other skilled personnel in the
future. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;Anti-takeover provisions in our organizational documents and Delaware law may make change in the control of our company
more difficult.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;Our organizational documents allow us to issue preferred stock with rights senior to those of our common stock without any further vote or
action by our stockholders. The issuance of preferred stock could decrease the amount of earnings and assets available for distribution to the holders of our common stock or could adversely affect the
rights and powers, including voting rights, of the holders of our common stock. In some circumstances, the issuance of preferred stock could have the effect of decreasing the market price of our
common stock. We are also subject to provisions of the Delaware corporation law that, in general, prohibit any business combination with a beneficial owner of 15% or more of our common stock for five
years unless the holder's acquisition of our stock was approved in advance by our board of directors. Further, we have adopted a stockholder rights plan which is designed to prevent, or make more
expensive, a hostile takeover of the Company. Under our plan, once an acquirer acquires more than 20% of our common stock, rights to purchase shares of preferred stock become exercisable by all
stockholders other than the acquirer, diluting substantially the value of the stock previously purchased by the acquiror. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<A NAME="toc_di1464_1"> </A>
<BR></FONT><FONT SIZE=2><B>USE OF PROCEEDS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If shares are resold by the selling stockholders, Beazer will receive no proceeds from such sale. The shares will be offered for the respective accounts of the
selling stockholders. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_selling_stockholders"> </A>
<A NAME="toc_di1464_2"> </A>
<BR></FONT><FONT SIZE=2><B>SELLING STOCKHOLDERS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The shares that may be offered from time to time pursuant to this prospectus have been or will be acquired by the selling stockholders from time to time upon
payment of awards granted under the Amended and Restated 1994 Stock Incentive Plan and the 1999 Stock Incentive Plan (the "Plans"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth (i)&nbsp;the name of each selling stockholder; (ii)&nbsp;the position, office, or other material relationship between Beazer and each selling
stockholder; (iii)&nbsp;the amount of common stock owned by the selling stockholder prior to the offering, including shares each selling stockholder may acquire pursuant to the exercise of
previously granted options under the Plans which have vested or may vest within 60&nbsp;days of September&nbsp;12, 2001; (iv)&nbsp;the amount of common stock that may be offered by the selling
stockholder; and (v)&nbsp;the amount of common stock to be held by each selling stockholder subsequent to the offering. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="53%" ALIGN="LEFT"><FONT SIZE=1><B>Name and Position with Company<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B>Number of<BR>
Shares<BR>
Beneficially<BR>
Owned<SUP>(1)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B>Shares<BR>
that may<BR>
be Offered</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER"><FONT SIZE=1><B>Common Stock that<BR>
would be Owned<BR>
Subsequent to the<BR>
Offering<SUP>(2)</SUP></B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="53%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER"><FONT SIZE=1><B>Number<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER"><FONT SIZE=1><B>Percent<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Brian C. Beazer<BR>
Non-Executive Chairman of the Board and Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>81,981</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>97,225</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>20,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Ian J. McCarthy<BR>
President, Chief Executive Officer and Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>415,399</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>555,371</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>1,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>David S. Weiss<BR>
Executive Vice President, Chief Financial Officer and Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>172,946</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>207,690</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>John Skelton<BR>
Senior Vice President, Financial Planning</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>86,319</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>90,209</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>100</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Mike Furlow<BR>
Executive Vice President and Chief Operating Officer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>89,989</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>148,728</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Cory Boydston<BR>
Vice President, Financial Services and Treasurer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>9,500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>4,750</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4,750</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Michael T. Rand<BR>
Vice President, Corporate Controller</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>13,471</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>8,721</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>4,750</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Gary N. Baucom<BR>
Regional President, Carolinas</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>62,148</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>44,148</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>18,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Jerry Gates<BR>
Regional President, Southern California Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>18,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>9,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>9,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Don Knutson<BR>
Senior Division President, Virginia Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>16,731</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>16,731</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Eddie Phillips<BR>
Regional President, Phillips Builders</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>75,823</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>39,823</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>36,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Joseph Thompson<BR>
Regional President, Arizona Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>54,422</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>36,422</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>18,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

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<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Scott Thorson<BR>
Senior Division President, Charlotte Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>18,979</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>18,979</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Tony Tonso<BR>
Senior Division President, Northern California Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>34,061</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>25,061</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>9,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Kent Lay<BR>
Division President, Nevada Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>537</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>537</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Peter Simons<BR>
Senior Division President, Colorado Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>78,407</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>41,120</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>37,287</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Jennifer Jones<BR>
Vice President, Human Resources</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>506</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>406</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>100</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Dave Carney<BR>
Division President, Maryland Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>5,116</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>5,116</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Christin Cupp<BR>
Division President, Mid-Florida Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>2,112</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>2,112</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Frank Finlaw<BR>
Division President, Charleston Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,689</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,689</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Michael Neill<BR>
Division President, New Jersey Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>3,807</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>3,507</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>300</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Bob Polanco<BR>
Division President, Raleigh Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>495</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>495</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Kurt Watzek<BR>
Division President, Houston Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>44,827</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>26,827</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>18,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Curt Hathaway<BR>
Operations Manager, Charlotte Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>871</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>871</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Brendan O'Neill<BR>
Senior Division Chief Financial Officer, Northern California Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>5,952</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>5,952</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Tara Shipley<BR>
Regional Chief Financial Officer, Phillips Builders</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,325</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,325</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Brady Simmerman<BR>
Regional Chief Financial Officer, Arizona Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,091</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,091</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>George Trippe<BR>
Senior Division Chief Financial Officer, Virginia Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>731</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>731</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Joavan Tseng<BR>
Regional Chief Financial Officer, Southern California Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>3,266</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>3,266</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Jimmy Yandle<BR>
Regional Chief Financial Officer, Carolinas</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,250</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,250</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Bryan Schreiber<BR>
Chief Financial Officer, Nevada Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>266</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>266</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
</TABLE>
<!-- insert table folio -->
<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=2,SEQ=11,EFW="2059212",CP="BEAZER HOMES USA, INC.",DN="1",CHK=458288,FOLIO='7',FILE='DISK034:[01ATA4.01ATA1464]DI1464A.;7',USER='SSTANSE',CD='14-SEP-2001;09:40' -->
<A NAME="page_di1464_1_8"> </A>
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<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Bill Brown<BR>
Chief Financial Officer, Houston Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>557</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>557</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Steve Mutascio<BR>
Chief Financial Officer, New Jersey Division</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>639</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>639</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>George Mefferd<BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>4,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>7,705</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>1,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Ned Mundell<BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>9,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>10,705</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>3,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Larry Solari<BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>7,500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>10,705</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>1,500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="53%"><FONT SIZE=2>Tom Howard<BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>16,500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>20,705</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Less
than 1%
<BR><BR></FONT></DD><DT><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Certain
shares listed in this column are currently represented by options to purchase common stock granted under the Plans which have vested or will vest within sixty 60&nbsp;days
or shares of common stock subject to restrictions on transfer and risk of forfeiture under the Plans. This column does not include unvested options (which will not vest in the next sixty
60&nbsp;days) that are disclosed as shares that may be offered as follows: Mr.&nbsp;Beazer&#151;35,244 shares, Mr.&nbsp;McCarthy&#151;140,972 shares,
Mr.&nbsp;Weiss&#151;35,244 shares, Mr.&nbsp;Skelton&#151;3,990 shares, Mr.&nbsp;Furlow&#151;58,739 shares and Messrs.&nbsp;Mefferd, Mundell, Solari and
Howard&#151;4,705 shares each.
<BR><BR></FONT></DD><DT><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>For
purposes of this column, we have assumed the sale of all shares of restricted common stock received to date by each selling stockholder pursuant to the Plans and, with respect
to selling stockholders who are "affiliates" of Beazer for purposes of Rule&nbsp;144 under the Securities Act of 1933, as amended, all such restricted common stock and all shares of common stock
issued or issuable under options granted under the Plans, including options that have not yet vested. Therefore, this column may include, for persons who are not "affiliates" for purposes of
Rule&nbsp;144, shares that are currently represented by options to purchase common stock granted under the Plans which have vested or will vest within sixty (60)&nbsp;days. These shares will be
freely tradable upon exercise of such options and may be sold by such employees outside of this prospectus. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_plan_of_distribution"> </A>
<A NAME="toc_di1464_3"> </A>
<BR></FONT><FONT SIZE=2><B>PLAN OF DISTRIBUTION    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Beazer has been advised by the selling stockholders that they intend to sell all or a portion of the Shares offered hereby from time to time in ordinary
brokers transactions on the New York Stock Exchange at the prices prevailing at the time of such sale. The selling stockholders may also make private sales directly or through a broker or brokers. The
selling stockholders will be responsible for payment of any and all commissions to brokers, which will be negotiated on an individual basis. Beazer will pay all expenses incident to the sale of the
common stock to the public other than brokerage commissions and other expenses incurred by individual selling stockholders which will be paid by the selling stockholders. In connection with any sale,
the selling stockholders and any brokers participating in such sales may be deemed to be underwriters within the meaning of the Act. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
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<A NAME="page_di1464_1_9"> </A>

<P><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;There is no assurance that any of the selling stockholders will sell any or all of the shares of common stock offered by them. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_legal_matters"> </A>
<A NAME="toc_di1464_4"> </A>
<BR></FONT><FONT SIZE=2><B>LEGAL MATTERS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Paul, Hastings, Janofsky&nbsp;&amp; Walker LLP, counsel to Beazer, has rendered an opinion to Beazer that the common stock offered hereby is or will be duly and
validly issued, fully paid and non-assessable. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_experts"> </A>
<A NAME="toc_di1464_5"> </A>
<BR></FONT><FONT SIZE=2><B>EXPERTS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements incorporated in this prospectus and Registration Statement by reference from Beazer's Annual Report on
Form&nbsp;10-K for the year ended September&nbsp;30, 2000 have been audited by Deloitte&nbsp;&amp; Touche LLP, independent auditors, as stated in their report, which is incorporated
herein by reference, and have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_where_to_find_more_information_about_beazer"> </A>
<A NAME="toc_di1464_6"> </A>
<BR></FONT><FONT SIZE=2><B>WHERE TO FIND MORE INFORMATION ABOUT BEAZER    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Beazer is subject to the informational requirements of the Exchange Act and files reports, proxy statements and other information with the SEC. Reports, proxy
statements, and other information filed by Beazer with the SEC may be inspected and copied at the SEC's public reference facilities at Room 1024, Judiciary Plaza, 450 Street, N.W., Washington, D.C.
20549. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference room and for other public reference room locations.
Our SEC filings are also available to the public from the SEC's web site at http:\\www.sec.gov. In addition, our common stock is listed on the New York Stock Exchange and reports, proxy statements and
other information concerning us may also be inspected at the offices of the New York Stock Exchange, 20 Broad Street, New York, New York 10005. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This
prospectus contains information concerning Beazer and the sale of the common stock by the selling stockholders, but does not contain all the information set forth in the
Registration Statement on Form&nbsp;S-8/S-3 which we have filed with the SEC under the Securities Act. Statements made in this prospectus as to the contents of any referenced
contract, agreement or document are not necessarily complete, and such statement shall be deemed qualified in its entirety by reference thereto. The Registration Statement, including various exhibits,
may be obtained upon payment of the fee prescribed by the SEC, or may be examined without charge at the SEC's office in Washington, D.C. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1464_incorporation_of_documents_by_reference"> </A>
<A NAME="toc_di1464_7"> </A>
<BR></FONT><FONT SIZE=2><B>INCORPORATION OF DOCUMENTS BY REFERENCE    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The SEC allows us to "incorporate by reference" the information we file with them, which means that we can disclose important information to you by referring
you to those documents that we have previously filed with the SEC or documents that we will file with the SEC in the future. This information incorporated by reference is considered to be a part of
this prospectus, and later
information that we file with the SEC will automatically update and supercede this information. The following documents previously filed with the SEC are incorporated herein by reference: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>Beazer's
Annual Report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 2000;
<BR><BR></FONT></DD><DT><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>Beazer's
Quarterly Reports on Form&nbsp;10-Q for the fiscal quarter ended December&nbsp;31, 2000, March&nbsp;31, 2001 and June&nbsp;30, 2001;
<BR><BR></FONT></DD><DT><FONT SIZE=2>(c)</FONT></DT><DD><FONT SIZE=2>all
other reports filed pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act since September&nbsp;30, 2000; and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

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<DL compact>
<DT><FONT SIZE=2>(d)</FONT></DT><DD><FONT SIZE=2>the
description of Beazer's common stock as set forth in the Registration Statement filed with the SEC on Form&nbsp;8-A filed under Section&nbsp;12 of the Exchange
Act, including any amendments or reports thereto filed with the SEC for the purpose of updating such description. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>In
addition to the foregoing, all documents and any amendments thereto subsequently filed by Beazer pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the filing of a
post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference and to be a part of this prospectus from the date of filing of such documents. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any
statement contained in any document incorporated by reference herein shall be deemed to be modified or superseded for all purposes to the extent that a statement contained in this
prospectus, or in any other subsequently filed document which is also incorporated by reference, modifies or replaces such statement. Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this prospectus. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>10</FONT></P>

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<A NAME="toc_dk1464_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II    <BR>    <BR>    INFORMATION REQUIRED IN THE REGISTRATION STATEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2><B>Item 3. Incorporation of Documents by Reference  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The following documents are incorporated herein by reference: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The
Registrant's annual report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 2000 filed pursuant to the Securities Exchange Act of
1934 (the "Exchange Act"); </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The
Registrant's quarterly report on Form&nbsp;10-Q for the fiscal quarter ended December&nbsp;31, 2000, March&nbsp;31, 2001 and June&nbsp;30,
2001 filed pursuant to the Exchange Act; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;All
other reports filed pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant's annual report
referred to in (a)&nbsp;above; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The
description of the Registrant's common stock, $.01 par value per share (the "Common Stock"), which is contained in its registration statement on Form&nbsp;10
filed under Section&nbsp;12 of the Exchange Act, including any amendments or reports filed for the purpose of updating such descriptions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All
documents subsequently filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which de-registers all securities then remaining unsold,
shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents. </FONT></P>

<P><FONT SIZE=2><B>Item 4. Description of Securities  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. </FONT></P>

<P><FONT SIZE=2><B>Item 5. Interests of Named Experts and Counsel  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. </FONT></P>


<P><FONT SIZE=2><B>Item 6. Indemnification of Directors and Officers  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the General Corporation Law of the State of Delaware provides for the indemnification by a corporation incorporated in the State of
Delaware of officers and directors under certain circumstances against expenses incurred in successfully defending against a claim and authorizes Delaware corporations to indemnify their officers and
directors under certain circumstances against expenses and liabilities incurred in legal proceedings involving such persons because of their being or having been an officer or director. The
By-laws of the Registrant provide for indemnification of its officers and directors to the full extent authorized by such section. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145(g)
of the General Corporation Law of the State of Delaware authorizes a corporation incorporated in the State of Delaware to provide liability insurance for
directors and officers for certain losses arising from claims or charges made against them while acting in their capacity as directors or officers of the corporation. The Registrant maintains a
directors and officers insurance policy in the aggregate amount of $15,000,000 which insures the directors and officers of the Registrant against losses arising from certain claims for any wrongful
act (as defined in the policy) by the directors or officers in their respective capacities as such, or to the extent that the Registrant has indemnified such directors or officers, insures the
Registrant against such losses. The policy does not cover losses in connection with claims relating to the purchase, sale, offer or solicitation of an offer to purchase or sell any securities or any
violation of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, and excludes certain other losses. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>11</FONT></P>

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<P><FONT SIZE=2><B>Item 7. Exemption from Registration Claimed  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The issuance of certain of the shares being offered pursuant to the Form&nbsp;S-3 prospectus included herein have previously been issued pursuant
to the Plans registered hereby and were deemed to be exempt from registration under the Securities Act in reliance on Section&nbsp;4(2) of the Securities Act or Regulation&nbsp;D promulgated
thereunder, as transactions by an issuer not involving a public offering. The recipients of securities in each such transaction represented their intention to acquire the securities for investment
only and not with a view to or for sale in connection with any distribution thereof and appropriate legends were affixed to the share certificates and instruments issued in such transactions. All
recipients had adequate access, through their relationship with the Registrant, to information about the Registrant. </FONT></P>

<P><FONT SIZE=2><B>Item 8. Exhibits  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The exhibits filed as part of this Registration Statement are as follows: </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT"><FONT SIZE=1><B>Exhibit Number<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="85%" ALIGN="CENTER"><FONT SIZE=1><B>Description of Exhibit</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Beazer Homes USA,&nbsp;Inc. Amended and Restated 1994 Stock Incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form&nbsp;10-Q for the fiscal quarter ended December&nbsp;31,
2000).</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Beazer Homes USA,&nbsp;Inc. 1999 Stock incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 1994).</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Opinion of Paul, Hastings, Janofsky&nbsp;&amp; Walker LLP as to the legality of the Common Stock registered hereunder.</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>23.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche LLP, Independent Auditors, relating to the use of their report contained in Registrant's Annual Report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 2000.</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>23.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Paul, Hastings, Janofsky&nbsp;&amp; Walker LLP to the filing and use of their opinion relating to the legality of the securities. Such consent is contained in their opinion filed as Exhibit&nbsp;5 to this
Registration Statement.</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>24</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Power of Attorney authorizing David S. Weiss and Ian J. McCarthy to sign amendments to this Registration Statement on behalf of officers and directors of the Registrant (contained on signature page of Registration
Statement).</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2><B>Item 9. Undertakings  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;The undersigned registrant hereby undertakes: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That,
for purposes of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed the initial bona fide offering thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the
offering. </FONT></P>

</UL>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's
annual report pursuant to Section&nbsp;13(a) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>12</FONT></P>

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<P><FONT SIZE=2>
or 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial </FONT><FONT SIZE=2><I>bona fide</I></FONT><FONT SIZE=2> offering thereof. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to provisions pursuant to which the directors, officers or controlling persons may be indemnified by the registrant or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>13</FONT></P>

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NAME="jc1464_signatures"> </A>
<A NAME="toc_jc1464_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Atlanta,
State of Georgia, on this 14th day of September, 2001. </FONT></P>

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<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><B>BEAZER HOMES USA,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="5%"><BR><FONT SIZE=2>By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>DAVID S. WEISS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> David S. Weiss<BR></FONT> <FONT SIZE=2><I>Executive Vice President and<BR>
Chief Financial Officer</I></FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>POWER OF ATTORNEY  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>KNOW ALL MEN BY THESE PRESENTS,</B></FONT><FONT SIZE=2> that each person whose signature appears below constitutes and appoints David
S. Weiss and Ian J. McCarthy, jointly and severally, his attorneys-in-fact, each with power of substitution for him in any and all capacities, to sign any amendments to this
Registration Statement, and to file the same, with the exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission hereby ratifying and confirming all
that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated. </FONT></P>

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<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1><B>Signature<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="27%" ALIGN="CENTER"><FONT SIZE=1><B>Title</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="24%" ALIGN="CENTER"><FONT SIZE=1><B>Date</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="CENTER"><BR><FONT SIZE=2>/s/&nbsp;</FONT><FONT SIZE=2>BRIAN C. BEAZER</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Brian C. Beazer</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director and Non-Executive Chairman of the Board</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>IAN J. MCCARTHY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Ian J. McCarthy</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director, President and Chief Executive Officer (Principal Executive Officer)</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>DAVID S. WEISS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> David S. Weiss</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director, Executive Vice President and Chief Financial Officer (Principal Financial Officer)</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>THOMAS B. HOWARD</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Thomas B. Howard</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%">&nbsp;</TD>
<TD COLSPAN=3 VALIGN="CENTER"><FONT SIZE=2><BR>
[Signatures continued on next page]</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" VALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>S&#150;1</FONT></P>

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<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>GEORGE W. MEFFERD</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> George W. Mefferd</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>D. E. MUNDELL</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> D. E. Mundell</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>LARRY T. SOLARI</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Larry T. Solari</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>MICHAEL T. RAND</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Michael T. Rand</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="27%" VALIGN="CENTER"><FONT SIZE=2><BR>
Vice President and Controller (Principal Accounting Officer)</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="24%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
September 14, 2001</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>S&#150;2</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<A NAME="toc_ka1464_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT INDEX    <BR>  </B></FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="LEFT"><FONT SIZE=1><B>Exhibit Number<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="85%" ALIGN="CENTER"><FONT SIZE=1><B>Description of Exhibit</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Beazer Homes USA,&nbsp;Inc. Amended and Restated 1994 Stock Incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form&nbsp;10-Q for the fiscal quarter ended December&nbsp;31,
2000).</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Beazer Homes USA,&nbsp;Inc. 1999 Stock incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 1994).</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Opinion of Paul, Hastings, Janofsky&nbsp;&amp; Walker LLP as to the legality of the Common Stock registered hereunder.</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>23.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Deloitte&nbsp;&amp; Touche LLP, Independent Auditors, relating to the use of their report contained in Registrant's Annual Report on Form&nbsp;10-K for the fiscal year ended September&nbsp;30, 2000.</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>23.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Paul, Hastings, Janofsky&nbsp;&amp; Walker LLP to the filing and use of their opinion relating to the legality of the securities. Such consent is contained in their opinion filed as Exhibit&nbsp;5 to this
Registration Statement.</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>24</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Power of Attorney authorizing David S. Weiss and Ian J. McCarthy to sign amendments to this Registration Statement on behalf of officers and directors of the Registrant (contained on signature page of Registration
Statement).</FONT></TD>
</TR>
</TABLE>
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<P><br><A NAME="01ATA1464_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_bc1464_1">PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bc1464_2">PROSPECTUS Beazer Homes USA, Inc. Up to 2,175,000 Shares of Common Stock</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_bg1464_1">TABLE OF CONTENTS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg1464_2">FORWARD-LOOKING INFORMATION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg1464_3">THE COMPANY</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_de1464_1">RISK FACTORS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_di1464_1">USE OF PROCEEDS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_2">SELLING STOCKHOLDERS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_3">PLAN OF DISTRIBUTION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_4">LEGAL MATTERS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_5">EXPERTS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_6">WHERE TO FIND MORE INFORMATION ABOUT BEAZER</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di1464_7">INCORPORATION OF DOCUMENTS BY REFERENCE</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_dk1464_1">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_jc1464_1">SIGNATURES</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_ka1464_1">EXHIBIT INDEX</A></FONT><BR>
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Prepared by MERRILL CORPORATION
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As filed with the Securities and Exchange Commission on September 14, 2001.
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8/S-3
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
BEAZER HOMES USA, INC.
(Exact name of registrant as specified in its charter)
Delaware
54-2086934
(State or other jurisdiction of
incorporation or organization)
(IRS Employer Identification No.)
5775 Peachtree Dunwoody Road, Suite B-200
Atlanta, Georgia
(Address of Principal Executive Offices)
30342
(Zip Code)
BEAZER HOMES USA, INC.
1999 STOCK INCENTIVE PLAN
AMENDED AND RESTATED 1994 STOCK INCENTIVE PLAN
Ian J. McCarthy
President and Chief Executive Officer
Beazer Homes USA, Inc.
5775 Peachtree Dunwoody Road, Suite B-200
Atlanta, Georgia 30342
(Name and address of agent for service)
Please address a copy of all communications to:
Elizabeth H. Noe
Paul, Hastings, Janofsky & Walker LLP
Suite 2400
600 Peachtree Street, N.E.
Atlanta, Georgia 30308-2222
Telephone: 404-815-2287
(404) 250-3420
(Telephone number, including area code,
of agent for service)
Approximate date of commencement of proposed sale to public:
By Beazer Homes USA, Inc., in accordance with the
terms of the 1999 Stock Incentive Plan and Amended and Restated 1994 Stock Incentive Plan after the effective date of this Registration Statement. By the selling stockholders, from time to time after
the effective date of this Registration Statement.
If
the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. / /
If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than
securities offered only in connection with dividend or interest reinvestment plans, check the following box. /x/
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered(1)
Proposed Maximum Offering Price Per Share(2)
Proposed Maximum Aggregate Offering Price(2)
Amount of Registration Fee(1)(3)
Common Stock $0.01 Par Value Per Share
2,175,000
$56.38
$122,626,500
$30,657
Preferred Stock Purchase Rights (3)
2,175,000
(1)
675,000
shares of Common Stock of the Registrant were previously registered pursuant to the Registrant's Registration Statement on Form S-8/S-3,
Registration No. 333-24765 (the "Original Registration Statement") with respect to the Beazer Homes USA, Inc. 1994 Stock Incentive Plan. The 1994 Stock Incentive Plan is now
known as the Amended and Restated 1994 Stock Incentive Plan. Beazer paid a filing fee of $3,067.71 in connection with the registration of its Common Stock pursuant to the Original Registration
Statement of which $2,669 was attributable to the 675,000 shares related to the Amended and Restated 1994 Stock Incentive Plan. The distribution of such shares has not been completed. The Registrant
has amended the Amended and Restated 1994 Stock Incentive Plan since the filing of the Original Registration Statement to increase the number of shares available for issuance thereunder. This
registration statement on Form S-8/S-3 is filed to register an additional 800,000 shares of Common Stock with respect to the Amended and Restated 1994 Stock Incentive
Plan. In accordance with General Instruction E to Form S-8, the Registrant incorporates by reference the contents of the Original Registration Statement, filed on April 7,
1997. This Registration Statement is also filed to register 700,000 shares of Common Stock with respect to the 1999 Stock Incentive Plan. Upon a stock split, stock dividend or similar transaction in
the future and during the effectiveness of this Registration Statement involving Common Stock of the Registrant, the number of shares registered shall be automatically increased to cover the
additional shares in accordance with Rule 416(a) under the Securities Act of 1933, as amended.
(2)
Estimated
solely for the purpose of calculating the amount of the registration fee in accordance with Rule 457(h)(1) under the Securities Act of 1933, as amended. The
offering price is calculated pursuant to Rule 457(c) based on the average of the high and low sales prices ($56.38 per share) of the Common Stock of the Registrant on the New York Stock
Exchange on September 10, 2001.
(3)
Rights
are attached to and trade with the Common Stock of the Registrant. Value attributable to such Rights, if any, is reflected in the market price of the Common Stock; therefore,
no additional registration fee is required.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information*
Item 2. Registrant Information and Employee Plan Annual Information*
*
Information
required by Part I to be contained in the Section 10(a) prospectus is omitted from the registration statement in accordance with Rule 428 under the
Securities Act of 1933 and the Note to Part I of Form S-8.
PROSPECTUS
Beazer Homes USA, Inc.
Up to 2,175,000 Shares of
Common Stock
The stockholders of Beazer identified in this prospectus may offer and resell the shares from time to time, for their own accounts. See "Selling Stockholders." The selling
stockholders have acquired or may acquire the shares pursuant to the terms of the Beazer Amended and Restated 1994 Stock Incentive Plan or the Beazer 1999 Stock Incentive Plan.
The
selling stockholders will receive all of the net proceeds from the sale of the shares. These stockholders will pay all underwriting discounts and selling commissions, if any,
applicable to the sale of the shares. Beazer will not receive any proceeds from the sale of the shares. The selling stockholders may offer their Beazer stock through public or private transactions, at
prevailing market prices or at privately negotiated prices. Such future prices are not currently known.
Beazer
common stock is reported on the New York Stock Exchange under the symbol "BZH." On September 10, 2001, the last reported sale price of the common stock was $55.29 per
share.
You
should carefully consider the "Risk Factors" beginning on page 3 of this prospectus before purchasing any of the Common Stock.
These
securities have not been approved or disapproved by the Securities and Exchange Commission or any state securities commission nor has the Securities and Exchange Commission or
any state securities commission passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
The
date of this prospectus is September 14, 2001.
TABLE OF CONTENTS
FORWARD-LOOKING INFORMATION
1
THE COMPANY
2
RISK FACTORS
3
USE OF PROCEEDS
6
SELLING STOCKHOLDERS
6
PLAN OF DISTRIBUTION
8
LEGAL MATTERS
9
EXPERTS
9
WHERE TO FIND MORE INFORMATION ABOUT BEAZER
9
INCORPORATION OF DOCUMENTS BY REFERENCE
9
You
should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with information different from that contained in the prospectus.
The selling stockholders are offering to sell, and seeking offers to buy, shares of Beazer's common stock only in jurisdictions where offers and sales are permitted. The information contained in this
prospectus is accurate as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of the shares.
In
this prospectus, unless indicated otherwise, "Beazer," "we," "us," and "our," refer to Beazer Homes USA, Inc. and its subsidiaries.
FORWARD-LOOKING INFORMATION
This prospectus and the documents incorporated herein by reference contain forward-looking statements. Beazer bases these statements on its current
expectations, estimates and projections about its industry. Either the beliefs of management, or assumptions made by management, form the basis for those expectations, estimates and projections. The
safe-harbor created by Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), generally protects Beazer and the Selling Stockholders from liability for these statements. You can often recognize such forward-looking statements by words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words, and similar expressions. Our actual results could differ materially from those projected in the
forward-looking statements as a result of the risk factors set forth below. The documents incorporated by reference may also set forth risks and uncertainties that could cause actual results to differ
materially and adversely from those discussed in the forward-looking statements. We undertake no obligation to publicly update any of these forward-looking statements to reflect new information or
future events.
THE COMPANY
Beazer designs, builds and sells single family homes in the southeast and southwest regions of the United States, as well as in Texas. Beazer's southeast
region includes Georgia, North Carolina, South Carolina, Tennessee and Florida, its west region includes Arizona, California, Colorado and Nevada, its central region covers Texas and its
mid-Atlantic region covers Maryland, New Jersey, Pennsylvania and Virginia. Beazer's homes are designed to appeal primarily to entry-level and first-time move-up
homebuyers. Beazer intends, subject to market conditions, to expand in its existing markets and to consider entering into new markets through expansion from existing markets or through market
acquisitions of established regional homebuilders. While future acquisition opportunities may be considered, Beazer currently has no plans, agreements or understandings with respect to any such
expansion through acquisition.
Beazer's
objective is to provide its customers with homes that incorporate quality and value while seeking to maximize its return on invested capital. To achieve this objective, we
have developed a business strategy which focuses on the following elements:
Geographic Diversity and Growth Markets.
We compete in a large number of geographically diverse markets in an attempt
to reduce our exposure to any particular regional economy. Virtually all of the
markets in which we operate have experienced significant population growth in recent years. Within these markets, we build homes in a variety of projects, typical with fewer than 150 homesites.
Quality Homes for Entry-Level and First Move-Up Home Buyers.
We seek to maximize customer satisfaction by
offering homes which incorporate quality materials, distinctive design features, convenient locations and competitive prices. We focus on entry-level and first time move-up buyers because
our management believes they represent the largest segment of the homebuilding market. During fiscal year 2000, the average sales price of Beazer's homes was approximately $190,700.
Additional Products and Services for Homebuyers.
In order to maximize our profitability and provide our homebuyers with
the additional products and services that they desire, we have incorporated design centers, mortgage origination operations, title services and insurance services into our business. Recognizing that
homebuyers want to choose certain components of their new home, we began offering limited customization through the use of design centers in most of our markets. These design centers allow the
homebuyer to select certain non-structural customizations for their homes such as cabinetry, flooring, fixtures, appliances and wallcoverings. Additionally, recognizing the homebuyer's
desire to simplify the financing process, we began originating mortgages on behalf of our customers through Beazer Mortgage Corp. Beazer offers title services and homeowners and other insurance to our
homebuyers.
Decentralized Operations with Experienced Management.
We believe our in-depth knowledge of our local
markets enables us to better serve our customers. Our local managers, who have significant experience in both the homebuilding industry and the markets they serve, are responsible for operating
decisions regarding design, construction and marketing. We combine these decentralized operations with a centralized corporate-level management which controls decisions regarding overall strategy,
land acquisitions and financial matters.
Conservative Land Policies.
We seek to maximize our return on capital by limiting our investment in land and by
focusing on inventory turnover. To implement this strategy and to reduce the risks associated with investments in land, we use options to control land whenever possible. In addition, we do not
speculate in unentitled land.
Our
principal executive offices are located at 5775 Peachtree Dunwoody Road, Suite B-200, Atlanta, Georgia 30342. The telephone number is
(404) 250-3420.
2
RISK FACTORS
In addition to the other information contained in, or incorporated by reference in, this prospectus, the following factors should be
considered carefully before purchasing any of the shares of common stock.
The homebuilding industry is cyclical and is significantly affected by macro economic and other factors outside of our control such as consumer confidence,
interest rates and employment levels.
Because of the long-term financial commitment involved in purchasing a home, general economic uncertainties tend to result in
more caution on the part of homebuyers and consequently fewer home purchases. While we believe the overall demand for new housing over time should remain stable, these uncertainties could periodically
have an adverse affect on our operating performance and the market price of our securities.
In
addition, homebuilders are subject to various risks, many of which are outside the control of the homebuilder. These conditions include:
•
conditions
of supply and demand in local markets;
•
weather
conditions and natural disasters, such as hurricanes, earthquakes and wildfires;
•
delays
in construction schedules;
•
cost
overruns on land development and home construction;
•
changes
in government regulations;
•
increases
in real estate taxes and other local government fees; and
•
availability
and cost of land, materials and labor.
Although
the principal raw materials used in the homebuilding industry generally are available from a variety of sources, such materials are subject to periodic price fluctuations.
There can be no assurance that the occurrence of any of the foregoing will not have a material adverse effect on us.
Our quarterly results may fluctuate, which could cause our stock price to fall.
While we have
reported positive annual net income for each of the past six fiscal years, our quarterly results of operations have varied significantly and may continue to do so in the future as a result of a
variety of factors both nationally and locally, many of which are outside our control. These factors include:
•
the
timing of home closings and land sales;
•
our
ability to continue to acquire additional land or secure option contracts to acquire land on acceptable terms;
•
land
development and construction delays;
•
seasonal
home buying patterns;
•
delays
in the opening of new active subdivisions by us or our competitors, or market acceptance of the products and services provided in those communities;
•
changes
in our pricing policies or those of our competitors; and
•
other
changes in operating expenses, personnel and general economic conditions.
As
a result, we believe that quarter-to-quarter comparisons of our operating results are not necessarily meaningful, and you should not rely on them as an indication of our
future performance. In addition, our operating results in a future quarter or quarters may fall below expectations of securities analysts or investors and, as a result, the price of our common stock
may fluctuate.
We are dependent on the availability of mortgage financing and homeowners' insurance for our customers.
Virtually all purchasers of our homes finance their acquisitions through lenders providing mortgage financing. A substantial increase in mortgage interest rates would affect the
ability of
3
prospective first time and move up homebuyers to obtain financing for our homes, as well as affect the ability of prospective move up homebuyers to sell their current homes.
Any
significant natural disaster will impact our business and the entire homebuilding industry. Any significant restrictions by insurance companies in any of the states in which we
operate on the availability or substantial increases in the costs of homeowners insurance will also adversely affect our industry.
The homebuilding industry is highly competitive and fragmented.
The competition in the
homebuilding industry is intense. Some of our competitors have substantially greater financial resources and lower costs of funds than we do. Many of these competitors also have longstanding
relationships with subcontractors and suppliers in the markets in which we operate. There can be no assurance that we will be able to compete successfully in our markets against these competitors.
The barriers to entry into our business are currently low.
There are relatively low barriers to
entry into our business. We do not own any technologies that preclude or inhibit competitors from entering our markets. Our competitors may independently develop land and construct housing units that
are superior or substantially similar to our products. We currently build in several of the top markets in the nation and, therefore, we expect to continue to face additional competition from new
entrants into our markets.
Our level of indebtedness could adversely affect the financial health of the company and prevent us from fulfilling our obligations
under our debt securities.
We currently have a significant amount of indebtedness. Our ability to make payments of principal or interest on, or to refinance our
indebtedness will depend on:
•
our
future operating performance; and
•
our
ability to enter into additional debt and/or equity financings.
Both
of these factors are subject, to a certain extent, to economic, financial, competitive and other factors beyond our control. If we are unable to generate sufficient cash flow in
the future to service our debt, we may be required to refinance all or a portion of our existing debt or to obtain additional financing. There can be no assurance that any such refinancing would be
possible or that any additional financing could be obtained. The inability to obtain additional financing could have a material adverse effect on us. Our substantial indebtedness could have important
consequences to the holders of securities, including:
•
we
may be more vulnerable to adverse general economic and industry conditions;
•
we
may find it more difficult to fund future working capital, land purchases, acquisitions, general corporate purposes or other purposes; and
•
we
will have to dedicate a substantial portion of our cash resources to the payments on our indebtedness, thereby reducing the funds available for
operations and future business opportunities.
Failure to implement our business strategy could adversely affect our operations.
Our financial
position and results of operations depend on our ability to execute our business strategy. Our ability to execute our business strategy depends on our ability:
•
to
continue to improve profitability;
•
to
identify and acquire attractive parcels of land on which to build our homes;
•
to
expand our market share in regions where we are not currently a top five builder;
•
to
identify, acquire and successfully integrate new business acquisitions; and
•
to
attract and retain skilled employees.
4
Our
failure or inability to execute our business strategy could materially adversely affect our financial position, liquidity and results of operations.
Our business would be adversely affected if future, more onerous government regulations were
enacted.
We and our competitors are subject to local, state and federal statutes and rules regulating:
•
certain
developmental matters;
•
building
and site design;
•
matters
concerning the protection of health and the environment; and
•
mortgage
origination procedures.
These
regulations vary greatly by community and consist of items such as:
•
impact
fees, some of which may be substantial, which may be imposed to defray the cost of providing certain governmental services and improvements;
•
"no
growth" or "slow growth" initiatives, which may be adopted in communities which have developed rapidly;
•
building
permit allocation ordinances;
•
building
moratoriums; or
•
similar
governmental regulations that could be imposed in the future.
We
believe we are in substantial compliance with current laws and regulations. We further believe that these laws and regulations have had no material adverse effect on our ability to
operate our business. Changes in existing laws or regulations, or in their interpretation, or the adoption of any additional laws or regulations, could have a material adverse effect on our business.
If we are unable to retain skilled personnel, our business could be adversely affected.
Our
future success depends upon our ability to attract, train, assimilate and retain skilled personnel and subcontractors. Competition for qualified personnel and subcontractors in all of our operating
markets is intense. A significant increase in the number of our active communities would necessitate the hiring of a significant number of additional construction managers and subcontractors, each of
which is in short supply in our markets. We cannot assure you that we will be able to retain our key employees or that we can attract, train, assimilate or retain other skilled personnel in the
future.
Anti-takeover provisions in our organizational documents and Delaware law may make change in the control of our company
more difficult.
Our organizational documents allow us to issue preferred stock with rights senior to those of our common stock without any further vote or
action by our stockholders. The issuance of preferred stock could decrease the amount of earnings and assets available for distribution to the holders of our common stock or could adversely affect the
rights and powers, including voting rights, of the holders of our common stock. In some circumstances, the issuance of preferred stock could have the effect of decreasing the market price of our
common stock. We are also subject to provisions of the Delaware corporation law that, in general, prohibit any business combination with a beneficial owner of 15% or more of our common stock for five
years unless the holder's acquisition of our stock was approved in advance by our board of directors. Further, we have adopted a stockholder rights plan which is designed to prevent, or make more
expensive, a hostile takeover of the Company. Under our plan, once an acquirer acquires more than 20% of our common stock, rights to purchase shares of preferred stock become exercisable by all
stockholders other than the acquirer, diluting substantially the value of the stock previously purchased by the acquiror.
5
USE OF PROCEEDS
If shares are resold by the selling stockholders, Beazer will receive no proceeds from such sale. The shares will be offered for the respective accounts of the
selling stockholders.
SELLING STOCKHOLDERS
The shares that may be offered from time to time pursuant to this prospectus have been or will be acquired by the selling stockholders from time to time upon
payment of awards granted under the Amended and Restated 1994 Stock Incentive Plan and the 1999 Stock Incentive Plan (the "Plans").
The
following table sets forth (i) the name of each selling stockholder; (ii) the position, office, or other material relationship between Beazer and each selling
stockholder; (iii) the amount of common stock owned by the selling stockholder prior to the offering, including shares each selling stockholder may acquire pursuant to the exercise of
previously granted options under the Plans which have vested or may vest within 60 days of September 12, 2001; (iv) the amount of common stock that may be offered by the selling
stockholder; and (v) the amount of common stock to be held by each selling stockholder subsequent to the offering.
Name and Position with Company
Number of
Shares
Beneficially
Owned
(1)
Shares
that may
be Offered
Common Stock that
would be Owned
Subsequent to the
Offering
(2)
Number
Percent
Brian C. Beazer
Non-Executive Chairman of the Board and Director
81,981
97,225
20,000
*
Ian J. McCarthy
President, Chief Executive Officer and Director
415,399
555,371
1,000
*
David S. Weiss
Executive Vice President, Chief Financial Officer and Director
172,946
207,690
500
*
John Skelton
Senior Vice President, Financial Planning
86,319
90,209
100
*
Mike Furlow
Executive Vice President and Chief Operating Officer
89,989
148,728
0
*
Cory Boydston
Vice President, Financial Services and Treasurer
9,500
4,750
4,750
*
Michael T. Rand
Vice President, Corporate Controller
13,471
8,721
4,750
*
Gary N. Baucom
Regional President, Carolinas
62,148
44,148
18,000
*
Jerry Gates
Regional President, Southern California Division
18,000
9,000
9,000
*
Don Knutson
Senior Division President, Virginia Division
16,731
16,731
0
*
Eddie Phillips
Regional President, Phillips Builders
75,823
39,823
36,000
*
Joseph Thompson
Regional President, Arizona Division
54,422
36,422
18,000
*
6
Scott Thorson
Senior Division President, Charlotte Division
18,979
18,979
0
*
Tony Tonso
Senior Division President, Northern California Division
34,061
25,061
9,000
*
Kent Lay
Division President, Nevada Division
537
537
0
*
Peter Simons
Senior Division President, Colorado Division
78,407
41,120
37,287
*
Jennifer Jones
Vice President, Human Resources
506
406
100
*
Dave Carney
Division President, Maryland Division
5,116
5,116
0
*
Christin Cupp
Division President, Mid-Florida Division
2,112
2,112
0
*
Frank Finlaw
Division President, Charleston Division
1,689
1,689
0
*
Michael Neill
Division President, New Jersey Division
3,807
3,507
300
*
Bob Polanco
Division President, Raleigh Division
495
495
0
*
Kurt Watzek
Division President, Houston Division
44,827
26,827
18,000
*
Curt Hathaway
Operations Manager, Charlotte Division
871
871
0
*
Brendan O'Neill
Senior Division Chief Financial Officer, Northern California Division
5,952
5,952
0
*
Tara Shipley
Regional Chief Financial Officer, Phillips Builders
1,325
1,325
0
*
Brady Simmerman
Regional Chief Financial Officer, Arizona Division
1,091
1,091
0
*
George Trippe
Senior Division Chief Financial Officer, Virginia Division
731
731
0
*
Joavan Tseng
Regional Chief Financial Officer, Southern California Division
3,266
3,266
0
*
Jimmy Yandle
Regional Chief Financial Officer, Carolinas
1,250
1,250
0
*
Bryan Schreiber
Chief Financial Officer, Nevada Division
266
266
0
*
7
Bill Brown
Chief Financial Officer, Houston Division
557
557
0
*
Steve Mutascio
Chief Financial Officer, New Jersey Division
639
639
0
*
George Mefferd
Director
4,000
7,705
1,000
*
Ned Mundell
Director
9,000
10,705
3,000
*
Larry Solari
Director
7,500
10,705
1,500
*
Tom Howard
Director
16,500
20,705
500
*
*
Less
than 1%
(1)
Certain
shares listed in this column are currently represented by options to purchase common stock granted under the Plans which have vested or will vest within sixty 60 days
or shares of common stock subject to restrictions on transfer and risk of forfeiture under the Plans. This column does not include unvested options (which will not vest in the next sixty
60 days) that are disclosed as shares that may be offered as follows: Mr. Beazer—35,244 shares, Mr. McCarthy—140,972 shares,
Mr. Weiss—35,244 shares, Mr. Skelton—3,990 shares, Mr. Furlow—58,739 shares and Messrs. Mefferd, Mundell, Solari and
Howard—4,705 shares each.
(2)
For
purposes of this column, we have assumed the sale of all shares of restricted common stock received to date by each selling stockholder pursuant to the Plans and, with respect
to selling stockholders who are "affiliates" of Beazer for purposes of Rule 144 under the Securities Act of 1933, as amended, all such restricted common stock and all shares of common stock
issued or issuable under options granted under the Plans, including options that have not yet vested. Therefore, this column may include, for persons who are not "affiliates" for purposes of
Rule 144, shares that are currently represented by options to purchase common stock granted under the Plans which have vested or will vest within sixty (60) days. These shares will be
freely tradable upon exercise of such options and may be sold by such employees outside of this prospectus.
PLAN OF DISTRIBUTION
Beazer has been advised by the selling stockholders that they intend to sell all or a portion of the Shares offered hereby from time to time in ordinary
brokers transactions on the New York Stock Exchange at the prices prevailing at the time of such sale. The selling stockholders may also make private sales directly or through a broker or brokers. The
selling stockholders will be responsible for payment of any and all commissions to brokers, which will be negotiated on an individual basis. Beazer will pay all expenses incident to the sale of the
common stock to the public other than brokerage commissions and other expenses incurred by individual selling stockholders which will be paid by the selling stockholders. In connection with any sale,
the selling stockholders and any brokers participating in such sales may be deemed to be underwriters within the meaning of the Act.
8
There is no assurance that any of the selling stockholders will sell any or all of the shares of common stock offered by them.
LEGAL MATTERS
Paul, Hastings, Janofsky & Walker LLP, counsel to Beazer, has rendered an opinion to Beazer that the common stock offered hereby is or will be duly and
validly issued, fully paid and non-assessable.
EXPERTS
The consolidated financial statements incorporated in this prospectus and Registration Statement by reference from Beazer's Annual Report on
Form 10-K for the year ended September 30, 2000 have been audited by Deloitte & Touche LLP, independent auditors, as stated in their report, which is incorporated
herein by reference, and have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.
WHERE TO FIND MORE INFORMATION ABOUT BEAZER
Beazer is subject to the informational requirements of the Exchange Act and files reports, proxy statements and other information with the SEC. Reports, proxy
statements, and other information filed by Beazer with the SEC may be inspected and copied at the SEC's public reference facilities at Room 1024, Judiciary Plaza, 450 Street, N.W., Washington, D.C.
20549. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference room and for other public reference room locations.
Our SEC filings are also available to the public from the SEC's web site at http:\\www.sec.gov. In addition, our common stock is listed on the New York Stock Exchange and reports, proxy statements and
other information concerning us may also be inspected at the offices of the New York Stock Exchange, 20 Broad Street, New York, New York 10005.
This
prospectus contains information concerning Beazer and the sale of the common stock by the selling stockholders, but does not contain all the information set forth in the
Registration Statement on Form S-8/S-3 which we have filed with the SEC under the Securities Act. Statements made in this prospectus as to the contents of any referenced
contract, agreement or document are not necessarily complete, and such statement shall be deemed qualified in its entirety by reference thereto. The Registration Statement, including various exhibits,
may be obtained upon payment of the fee prescribed by the SEC, or may be examined without charge at the SEC's office in Washington, D.C.
INCORPORATION OF DOCUMENTS BY REFERENCE
The SEC allows us to "incorporate by reference" the information we file with them, which means that we can disclose important information to you by referring
you to those documents that we have previously filed with the SEC or documents that we will file with the SEC in the future. This information incorporated by reference is considered to be a part of
this prospectus, and later
information that we file with the SEC will automatically update and supercede this information. The following documents previously filed with the SEC are incorporated herein by reference:
(a)
Beazer's
Annual Report on Form 10-K for the fiscal year ended September 30, 2000;
(b)
Beazer's
Quarterly Reports on Form 10-Q for the fiscal quarter ended December 31, 2000, March 31, 2001 and June 30, 2001;
(c)
all
other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since September 30, 2000; and
9
(d)
the
description of Beazer's common stock as set forth in the Registration Statement filed with the SEC on Form 8-A filed under Section 12 of the Exchange
Act, including any amendments or reports thereto filed with the SEC for the purpose of updating such description.
In
addition to the foregoing, all documents and any amendments thereto subsequently filed by Beazer pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the filing of a
post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference and to be a part of this prospectus from the date of filing of such documents.
Any
statement contained in any document incorporated by reference herein shall be deemed to be modified or superseded for all purposes to the extent that a statement contained in this
prospectus, or in any other subsequently filed document which is also incorporated by reference, modifies or replaces such statement. Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this prospectus.
10
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The following documents are incorporated herein by reference:
(a) The
Registrant's annual report on Form 10-K for the fiscal year ended September 30, 2000 filed pursuant to the Securities Exchange Act of
1934 (the "Exchange Act");
(b) The
Registrant's quarterly report on Form 10-Q for the fiscal quarter ended December 31, 2000, March 31, 2001 and June 30,
2001 filed pursuant to the Exchange Act;
(c) All
other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrant's annual report
referred to in (a) above; and
(d) The
description of the Registrant's common stock, $.01 par value per share (the "Common Stock"), which is contained in its registration statement on Form 10
filed under Section 12 of the Exchange Act, including any amendments or reports filed for the purpose of updating such descriptions.
All
documents subsequently filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a
post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which de-registers all securities then remaining unsold,
shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents.
Item 4. Description of Securities
Not applicable.
Item 5. Interests of Named Experts and Counsel
Not applicable.
Item 6. Indemnification of Directors and Officers
Section 145 of the General Corporation Law of the State of Delaware provides for the indemnification by a corporation incorporated in the State of
Delaware of officers and directors under certain circumstances against expenses incurred in successfully defending against a claim and authorizes Delaware corporations to indemnify their officers and
directors under certain circumstances against expenses and liabilities incurred in legal proceedings involving such persons because of their being or having been an officer or director. The
By-laws of the Registrant provide for indemnification of its officers and directors to the full extent authorized by such section.
Section 145(g)
of the General Corporation Law of the State of Delaware authorizes a corporation incorporated in the State of Delaware to provide liability insurance for
directors and officers for certain losses arising from claims or charges made against them while acting in their capacity as directors or officers of the corporation. The Registrant maintains a
directors and officers insurance policy in the aggregate amount of $15,000,000 which insures the directors and officers of the Registrant against losses arising from certain claims for any wrongful
act (as defined in the policy) by the directors or officers in their respective capacities as such, or to the extent that the Registrant has indemnified such directors or officers, insures the
Registrant against such losses. The policy does not cover losses in connection with claims relating to the purchase, sale, offer or solicitation of an offer to purchase or sell any securities or any
violation of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, and excludes certain other losses.
11
Item 7. Exemption from Registration Claimed
The issuance of certain of the shares being offered pursuant to the Form S-3 prospectus included herein have previously been issued pursuant
to the Plans registered hereby and were deemed to be exempt from registration under the Securities Act in reliance on Section 4(2) of the Securities Act or Regulation D promulgated
thereunder, as transactions by an issuer not involving a public offering. The recipients of securities in each such transaction represented their intention to acquire the securities for investment
only and not with a view to or for sale in connection with any distribution thereof and appropriate legends were affixed to the share certificates and instruments issued in such transactions. All
recipients had adequate access, through their relationship with the Registrant, to information about the Registrant.
Item 8. Exhibits
The exhibits filed as part of this Registration Statement are as follows:
Exhibit Number
Description of Exhibit
4.1
Beazer Homes USA, Inc. Amended and Restated 1994 Stock Incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form 10-Q for the fiscal quarter ended December 31,
2000).
4.2
Beazer Homes USA, Inc. 1999 Stock incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form 10-K for the fiscal year ended September 30, 1994).
5
Opinion of Paul, Hastings, Janofsky & Walker LLP as to the legality of the Common Stock registered hereunder.
23.1
Consent of Deloitte & Touche LLP, Independent Auditors, relating to the use of their report contained in Registrant's Annual Report on Form 10-K for the fiscal year ended September 30, 2000.
23.2
Consent of Paul, Hastings, Janofsky & Walker LLP to the filing and use of their opinion relating to the legality of the securities. Such consent is contained in their opinion filed as Exhibit 5 to this
Registration Statement.
24
Power of Attorney authorizing David S. Weiss and Ian J. McCarthy to sign amendments to this Registration Statement on behalf of officers and directors of the Registrant (contained on signature page of Registration
Statement).
Item 9. Undertakings
(a)  The undersigned registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
(2) That,
for purposes of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed the initial bona fide offering thereof.
(3) To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the
offering.
(b)  The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's
annual report pursuant to Section 13(a)
12
or 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)  Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to provisions pursuant to which the directors, officers or controlling persons may be indemnified by the registrant or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
13
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Atlanta,
State of Georgia, on this 14th day of September, 2001.
BEAZER HOMES USA, INC.
By:
/s/
DAVID S. WEISS
David S. Weiss
Executive Vice President and
Chief Financial Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS,
that each person whose signature appears below constitutes and appoints David
S. Weiss and Ian J. McCarthy, jointly and severally, his attorneys-in-fact, each with power of substitution for him in any and all capacities, to sign any amendments to this
Registration Statement, and to file the same, with the exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission hereby ratifying and confirming all
that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/
BRIAN C. BEAZER
Brian C. Beazer
Director and Non-Executive Chairman of the Board
September 14, 2001
/s/
IAN J. MCCARTHY
Ian J. McCarthy
Director, President and Chief Executive Officer (Principal Executive Officer)
September 14, 2001
/s/
DAVID S. WEISS
David S. Weiss
Director, Executive Vice President and Chief Financial Officer (Principal Financial Officer)
September 14, 2001
/s/
THOMAS B. HOWARD
Thomas B. Howard
Director
September 14, 2001
[Signatures continued on next page]
S–1
/s/
GEORGE W. MEFFERD
George W. Mefferd
Director
September 14, 2001
/s/
D. E. MUNDELL
D. E. Mundell
Director
September 14, 2001
/s/
LARRY T. SOLARI
Larry T. Solari
Director
September 14, 2001
/s/
MICHAEL T. RAND
Michael T. Rand
Vice President and Controller (Principal Accounting Officer)
September 14, 2001
S–2
EXHIBIT INDEX
Exhibit Number
Description of Exhibit
4.1
Beazer Homes USA, Inc. Amended and Restated 1994 Stock Incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form 10-Q for the fiscal quarter ended December 31,
2000).
4.2
Beazer Homes USA, Inc. 1999 Stock incentive Plan (incorporated herein by reference to the exhibits to the Registrant's report on Form 10-K for the fiscal year ended September 30, 1994).
5
Opinion of Paul, Hastings, Janofsky & Walker LLP as to the legality of the Common Stock registered hereunder.
23.1
Consent of Deloitte & Touche LLP, Independent Auditors, relating to the use of their report contained in Registrant's Annual Report on Form 10-K for the fiscal year ended September 30, 2000.
23.2
Consent of Paul, Hastings, Janofsky & Walker LLP to the filing and use of their opinion relating to the legality of the securities. Such consent is contained in their opinion filed as Exhibit 5 to this
Registration Statement.
24
Power of Attorney authorizing David S. Weiss and Ian J. McCarthy to sign amendments to this Registration Statement on behalf of officers and directors of the Registrant (contained on signature page of Registration
Statement).
QuickLinks
PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
PROSPECTUS Beazer Homes USA, Inc. Up to 2,175,000 Shares of Common Stock
TABLE OF CONTENTS
FORWARD-LOOKING INFORMATION
THE COMPANY
RISK FACTORS
USE OF PROCEEDS
SELLING STOCKHOLDERS
PLAN OF DISTRIBUTION
LEGAL MATTERS
EXPERTS
WHERE TO FIND MORE INFORMATION ABOUT BEAZER
INCORPORATION OF DOCUMENTS BY REFERENCE
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
SIGNATURES
EXHIBIT INDEX