Company: LGIH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001580670-25-000028
Chunk: 65

Company: LGI Homes, Inc.
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 65
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 1,048,318 |     |       |           |

*Mr. Lipar received no additional compensation for serving on the Board of Directors.

(1) The amounts shown constitute the annual cash bonus program at payouts further discussed under “Compensation Discussion and Analysis - What We Paid and Why - Compensation for NEOs - Target Compensation Mix - 2024”.

(2) With respect to the PSUs granted in 2024, the estimate of the grant date fair value determined in accordance with FASB ASC Topic 718 assumes the vesting of 100% of the PSUs granted. Assuming the highest level of performance is achieved, which would result in the vesting of 200% of the PSUs granted, the aggregate grant date fair value of the PSUs included for (i) 2024 would be $6,630,000, $2,183,900, $2,059,500, and $772,400 for Messrs. Lipar, Snider, Merdian, and Garber, respectively, (ii) 2023 would be $6,630,200, $2,100,140, $1,920,016, and $720,084 for Messrs. Lipar, Snider, Merdian, and Garber, respectively, and (iii) 2022 would be $6,630,228, $2,100,146, $1,920,046, and $720,166 for Messrs. Lipar, Snider, Merdian, and Garber, respectively.

(3) The amounts shown include the grant date fair value of the target number of PSUs of 29,615 ($3,315,103), 9,756 ($1,092,087), 8,920 ($998,505), and 3,345 ($374,439), awarded on March 8, 2024, to Messrs. Lipar, Snider, Merdian, and Garber, respectively, that provide for shares of our common stock to be issued based on the attainment of the performance metric of the Company over the three-year period, January 1, 2024 to December 31, 2026. The number of shares of our common stock that may be issued to the recipients for the PSUs range from 0% to 200% of the target amount depending on actual results as compared to the target performance metric. The terms of the PSUs provide that the payouts will