Company: UHG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001830188-25-000028
Chunk: 41

Company: United Homes Group, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 41
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 In addition, Mr. Nieri has a 49% ownership interest in Pennington Communities, LLC, an entity formed for the purpose of being the sole manager of each of the Land Development Affiliates. The Lot Purchase Agreements provide for the purchase by GSH of lots that are owned and developed by the Land Development Affiliates at a price equal to fair market value. Following the Business Combination, GSH pays an initial deposit to the applicable Land Development Affiliate upon entry into a Lot Purchase Agreement. During the years ended December 31, 2024 and 2023, such deposits totaled approximately $8.5 million and approximately $30.9 million, respectively. During the years ended December 31, 2024 and 2023, GSH paid the Land Development Affiliates an aggregate of approximately $17.3 million and approximately $17.1 million, respectively, for the purchase of lots pursuant to Lot Purchase Agreements.

#### PCLDC Services Agreement & Other
During 2023, UHG became a party to a services agreement with PCLDC, pursuant to which certain employees of each party provide services to the other party and certain shared costs are allocated in line with a predetermined methodology based on headcount. During the years ended December 31, 2024 and 2023, UHG allocated overhead costs to PCLDC in the amount of approximately $353,000 and approximately $413,000, respectively, and was charged by PCLDC for property maintenance, consulting, and land development management services in the amount of approximately $884,000 and approximately $206,000, respectively. In addition, in 2024, GSH and PCLDC agreed to share closing costs and legal expenses of approximately $327,000 in connection with a land banking transaction, for which PCLDC reimbursed GSH approximately $166,000.

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#### Office Leases
GSH leases office space from Two Blue Stallions, LLC (“TBS”), which is owned by Mr. Nieri’s children and trusts for the benefit of such children, including Pennington Nieri. During the years ended December 31, 2024 and 2023, GSH paid TBS approximately $57,000 and approximately $488,000, respectively, pursuant to such lease arrangements.

GSH also leases office space from University Cottages, LLC (“UC”), which is owned by TBS and Mr. Nieri’s wife. During the