Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 87

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 87
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 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 six months ended June 30, 2025:For the Six Months Ended June 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.

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

Summary of Total Share-Based Compensation ExpenseDuring the three and six months ended June 30, 2025 and 2024, we recognized share-based compensation expense as follows:For the Three MonthsEnded June 30,For the Six Months Ended June 30,2025202420252024General and administrative$6,898 $5,818 $15,404 $12,120 Property management expense1,566 1,674 3,217 3,272 Total$8,464 $7,492 $18,621 $15,392  As of June 30, 2025, there is $53,242 of unrecognized share-based compensation expense related to non-vested share-based awards which is expected to be recognized over a weighted average period of 2.06 years.

Note 11—Fair Value Measurements

The carrying amounts of restricted cash, certain components of other assets, accounts payable and accrued expenses, resident security deposits, and certain components of other liabilities approximate fair value due to the short maturity of these amounts. Our interest rate swap agreements, interest rate cap agreements, if any, and investments in equity securities with a readily determinable fair value are recorded at fair value on a recurring basis within our condensed consolidated financial statements. The fair values of interest rate swaps, which are classified as Level 2 in the fair value hierarchy, are estimated using market values of instruments with similar attributes and maturities. See Note 8 for the details of the condensed consolidated balance sheet classification and the fair values for the interest