Company: MMI
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050707
Chunk: 35

Company: Marcus & Millichap, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 held as a Company asset in a rabbi trust, which is recorded in assets held in rabbi trust in the accompanying condensed consolidated balance sheets. The assets in the trust are restricted unless the Company becomes insolvent, in which case the trust assets are subject to the claims of the Company’s creditors. The Company may also, in its sole and absolute discretion, elect to withdraw at any time a portion of the trust assets by an amount by which the fair market value of the trust assets exceeds 110% of the aggregate deferred compensation liability represented by the participants’ accounts. Estimated payouts within the next twelve months for participants that have separated from service or elected an in-service payout have been classified as current. During the nine months ended September 30, 2025 and 2024, the Company made total payments to participants of $260,000 and $172,000 respectively.The assets held in the rabbi trust are carried at the cash surrender value of the variable life insurance policies, which represents its fair value. The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses, consisted of the following (in thousands): Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Increase in the carrying value of the assets held in the rabbi trust (1)$542 $549 $1,173 $1,518 Increase in the net carrying value of the deferred compensation obligation (2)$(524)$(649)$(1,069)$(1,385)(1)Recorded in other income, net in the condensed consolidated statements of operations. (2)Recorded in selling, general and administrative expense in the condensed consolidated statements of operations.

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Table of ContentsMARCUS & MILLICHAP, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 

Other Liabilities Other liabilities consisted of the following (in thousands): CurrentNon-CurrentSeptember 30,2025December 31,2024September 30,2025December 31,2024Deferred consideration$— $411 $— $— Contingent consideration595 4,614 553 117 Dividends payable10,803 942 1,321 1,559 Stock repurchase payable49 — — — Loan guarantee obligation1,851 1