Company: BWMN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023232
Chunk: 97

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 unpaid principal balance.Bowman Realty Investments 2010, LLC (“BR10”) is an entity in which Mr. Bowman has an ownership interest. On March 31, 2025 and December 31, 2024, the Company’s notes receivable included $0.2 million, from BR10, with a 

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maturity date of January 31, 2027. BR10 executed a Pledge and Assignment Agreement as security for its obligations to the Company.Alwington Farm Developers, LLC (“AFD”) is an entity in which BR10 has a minority ownership interest. On March 31, 2025 and December 31, 2024, our notes receivable included $0.4 million and $1.2 million respectively, from AFD, with a maturity date of February 15, 2026.MREC Shenandoah VA, LLC (“MREC Shenandoah”) is an entity in which Lake Frederick Holdings, LLC (“Lake Frederick Holdings”) owns a 92% interest and Shenandoah Station Partners LLC, an entity owned in part by BLD and in part by Bowman Realty Investments 2013 LLC "Bowman Realty" (BR13), owns an 8% interest. Mr. Bowman owns a 100% interest in, and is the manager of, Lake Frederick Holdings. Mr. Bowman is the sole member of Bowman Realty 2013 (BR13). Since 2020, the Company has provided engineering services to MREC Shenandoah in exchange for cash payments. During the three months ended March 31, 2025, the Company invoiced $0.1 million, and received payments of $0.1 million. During the three months ended March 31, 2024, the Company invoiced $0.1 million, and received payments of $38,000.During the three months ended March 31, 2025 and 2024, the Company provided administrative, accounting and project management services to certain of the related party entities. The cost of these services was $0.1 million and $11,000, respectively. These entities were billed $0.1 million and $17,000, respectively.In August 2022, the Company agreed to reimburse Mr. Bowman at a fixed hourly rate for the business use of an aircraft owned by Sunrise Asset Management, a company owned 100% by Mr. Bowman. No costs were incurred for aircraft services as of March 31, 2025