Company: INVH
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001687229-25-000051
Chunk: 89

Company: Invitation Homes Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 89
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 2,078,089 $34.10 Granted 560,232 33.87 709,684 42.45 1,269,916 38.66 Vested(2)(364,256)(34.97)(129,255)(34.81)(493,511)(34.93)Forfeited / canceled(79,058)(33.59)(529,998)(36.52)(609,056)(36.14)Balance, September 30, 2025748,306 $33.74 1,497,132 $37.05 2,245,438 $35.95 (1)Total share-based awards excludes Outperformance Awards.(2)Vested share-based awards issued in shares of common stock are included in basic EPS for the periods after each award’s vesting date, and vested share-based awards issued in the form LTIP OP Units are included as a component of non-controlling interest for the periods after each award’s vesting date. The estimated aggregate fair value of share-based awards that fully vested during the nine months ended September 30, 2025 was $20,375. During the nine months ended September 30, 2025, 11,106 awards were accelerated pursuant to the terms and conditions of the Omnibus Incentive Plan and related award agreements.

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INVITATION HOMES INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(dollar amounts in thousands)(unaudited)

Grant-Date Fair ValuesThe grant-date fair values of the time-vesting RSUs and PRSUs with performance condition vesting criteria are generally based on the closing price of our common stock on the grant date. However, the grant-date fair values for share-based awards with market condition vesting criteria are based on Monte-Carlo option pricing models. The following table summarizes the significant inputs utilized in these models for such awards granted or modified during the nine months ended September 30, 2025:For the Nine Months Ended September 30,Expected volatility(1)20.1% — 24.5%Risk-free rate3.91%Expected holding period (years)2.83(1)Expected volatility was estimated based on the historical volatility of INVH’s realized returns and of the applicable index.Summary of Total Share-Based Compensation ExpenseDuring the three and nine months ended September 30, 2025 and 2024, we recognized share-based compensation