Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 68

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 months ended March 31, 2025 and 2024, we repurchased 41,685 shares of our common stock for $3.1 million to be held as treasury stock and 89,227 shares of our common stock for $10.0 million to be held as treasury stock, respectively.  A total of 3,289,024 shares of our common stock has been repurchased since our stock repurchase program commenced. As of March 31, 2025, we may purchase up to $177.7 million of shares of our common stock under our stock repurchase program. 

7.     EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2025 and 2024: Three Months Ended March 31,20252024Numerator (in thousands):Net income (Numerator for basic and dilutive earnings per share)$3,994 $17,053 Denominator:       Basic weighted average shares outstanding23,396,470 23,578,576        Effect of dilutive securities:         Stock-based compensation units70,276 96,777        Diluted weighted average shares outstanding23,466,746 23,675,353 Basic earnings per share$0.17 $0.72 Diluted earnings per share$0.17 $0.72 Antidilutive non-vested restricted stock units excluded from calculation of diluted earnings per share 50,771 34,252 

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8.    STOCK-BASED COMPENSATION

Non-performance Based Restricted Stock UnitsThe following table summarizes the activity of our time-vested restricted stock units (“RSUs”):Three Months Ended March 31,2025SharesWeighted Average Grant Date Fair ValueBeginning balance 194,953 $106.60    Granted70,636 $73.19    Vested(28,045)$118.80    Forfeited(1,560)$102.75 Ending balance235,984 $95.18 We recognized $1.7 million and $1.4 million of stock-based compensation expense related to outstanding RSUs for the three months ended March 31, 2025 and 2024, respectively.  Generally, the RSUs cliff vest on the third anniversary of the grant date and can only be settled in shares of