Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 114

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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.1 million for the three months ended September 30, 2025 and 2024, respectively, and $0.3 million and $0.2 million for the nine months ended September 30, 2025 and 2024, respectively. As of September 30, 2025, total unrecognized pre-tax compensation expense was $0.5 million related to time-based restricted stock units which is expected to be recognized over a weighted-average period of 2.47 years.Performance-based restricted stock units (“PSUs”)The following table summarizes the activity relating to the Company’s PSUs:SharesWeighted-average grant date fair value per unitOutstanding, December 31, 2024443,500 $3.45 Granted389,750 1.95 Vested— — Forfeited(116,250)2.87 Outstanding, September 30, 2025717,000 $2.73 Stock compensation expense for the PSUs is recorded based on the estimated fair value of the equity-based award on the grant date using the Monte Carlo simulation method. Stock-based compensation expense, net of forfeitures, included in Selling, general and administrative expense in the Condensed Consolidated Statements of Operations for PSUs was $0.1 million and $0.2 million for the three months ended September 30, 2025 and 2024, respectively, and $0.5 million for both the nine months ended September 30, 2025 and 2024. As of September 30, 2025, total unrecognized pre-tax compensation expense was $0.8 million related to the PSUs which is expected to be recognized over a weighted-average period of 1.30 years.Stock warrantsThe Company previously granted an option to non-employee directors to purchase 1,867,368 stock warrants for $0.2 million. Each warrant represents one non-voting common share. The warrants are exercisable at $4.05 per warrant, and can be exercised for 10 years starting from July 1, 2022. As of September 30, 2025, there are 746,947 stock warrants outstanding. There were no additional stock warrants granted, and no compensation expense recorded, during the three and nine months ended September 30, 2025 and 2024.

Note 12 - Earnout sharesAs of September 30, 2025, the fair value