Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 5

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 3
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 UHG’s Executive Chairman and continuing member of the Board is working to identify replacement directors with the requisite qualifications in order to maintain compliance with the requirements under Nasdaq Listing Rule 5605 (the “Corporate Governance Requirements”). In light of UHG’s status with respect to appointment of replacement directors, directors Robert Dozier Jr., Jason Enoch, and Alan Levine informed UHG of their willingness to remain on the Board and applicable committees beyond November 14, 2025, to ensure an orderly transition as director candidates are identified and recruited in order to maintain compliance with the Corporate Governance Requirements. There can be no assurance that UHG will be able to maintain compliance with Nasdaq’s listing standards. If UHG is unable to maintain compliance with Nasdaq’s listing standards, UHG’s common stock may become subject to delisting. A delisting of UHG’s Class A common stock from Nasdaq may materially impair stockholders’ ability to buy and sell UHG’s Class A common stock and may adversely affect both the market for and the liquidity of UHG’s Class A common stock. If UHG’s stock is delisted from Nasdaq, whether by choice or otherwise, such delisting could significantly impair UHG’s ability to raise capital and negatively impact stockholder value.

The recent announcement regarding the planned resignations of substantially all of the members of UHG’s board of directors has caused significant operational difficulty, and UHG expects such operational difficulties to continue and potentially increase until a satisfactory replacement board is seated. 

Since UHG’s announcement on October 20, 2025 regarding the resignation or planned resignation of substantially all of the members of the board of directors, UHG has faced significant operational difficulties. Numerous key counterparties, including UHG’s auditors, lenders, land banking partners, and insurers have expressed concern regarding UHG’s ongoing corporate governance. Management of UHG has been engaged in discussions with these and other counterparties regarding, among other things, the pressing need to identify replacement directors, maintaining compliance with loan covenants, and planning for UHG’s ongoing operations. In light of UHG’s status with respect to appointment of replacement directors, directors Robert Dozier Jr., Jason Enoch, and Alan Levine informed UHG of their willingness to remain on the Board and applicable committees beyond November 14, 2025, to ensure an orderly transition as director candidates are identified and recruited in order to maintain compliance with the requirements under Nasdaq Listing Rule 5605. Despite this, UHG cannot provide any assurance that any counterpart