Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 187

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 15
Chunk 187
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 employment through the applicable vesting date.

F-33

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

LTIP time-vesting RSUs vest in three equal annual installments based on an anniversary date of March 1st. LTIP PRSUs may be earned based on the achievement of certain measures over a three year performance period. The number of PRSUs earned will be determined based on performance achieved during the performance period for each measure at certain threshold, target, or maximum levels and corresponding payout ranges. In general, the LTIP PRSUs are earned after the end of the performance period on the date on which the performance results are certified by our compensation and management development committee (the “Compensation Committee”).All of the LTIP Awards are subject to certain change in control and retirement eligibility provisions that may impact these vesting schedules.•PRSU Results: During the years ended December 31, 2024, 2023, and 2022, certain LTIP PRSUs vested and achieved performance in excess of the target level, resulting in the issuance of an additional 193,615, 188,001, and 285,601 shares of common stock, respectively. Such awards are reflected as an increase in the number of awards granted and vested in the table below.Other Award Activity•Other Awards: During the year ended December 31, 2024, we granted 51,372 time-vesting RSUs to members of our board of directors, which will fully vest on the date of INVH’s 2025 annual stockholders meeting, subject to continued service on the board of directors through such date. During the years ended December 31, 2023 and 2022, INVH issued 50,895 and 36,912 time-vesting RSUs, which fully vested on the dates of INVH’s 2024 and 2023 annual stockholders meetings, respectively.During the year ended December 31, 2023, we granted 56,562 employment awards, respectively, in the form of time-vesting RSUs that vest in three equal annual installments based on an anniversary date of the grant date. •Modifications: On February 1, 2023, the vesting conditions of certain outstanding equity awards with a pre-modification aggregate fair value of $3,741 were modified, resulting in an incremental $309 of share-based compensation expense over the remaining service period.