 Irani chaired the KB Home executive compensation committee during the time period when CEO Bruce Karatz lied about the company's practice of backdating options.Karatz was subsequently indicted and convicted April 21, 2010 on Federal charges stemming from his actions and sanctioned by the SEC in a separate civil action.The KB Home shareholders expressed their lack of confidence in the board and the compensation committee by a 19% opposition vote against Irani, who resigned from the KB Home board of directors after 15 years of service.