Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 82

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 23,579,592 23,289,280 23,611,906 Basic earnings per share$0.85 $2.96 $2.38 $6.17 Diluted earnings per share$0.85 $2.95 $2.37 $6.15 Antidilutive non-vested restricted stock units excluded from calculations of diluted earnings per share18,563 3,069 37,143 10,025 

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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”) for the nine months ended September 30, 2025:Nine Months Ended September 30,2025SharesWeighted Average Grant Date Fair ValueBeginning balance194,953 $106.60    Granted86,878 $68.74    Vested(29,952)$116.59    Forfeited(6,247)$96.91 Ending balance245,632 $92.24 We recognized $1.8 million and $1.3 million of stock-based compensation expense related to outstanding RSUs for the three months ended September 30, 2025 and 2024, respectively. We recognized $5.3 million and $4.1 million of stock-based compensation expense related to outstanding RSUs for the nine months ended September 30, 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 our common stock.  At September 30, 2025, we had unrecognized compensation cost of $10.4 million related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.0 years.Performance-Based Restricted Stock UnitsThe Compensation Committee of the Board has granted awards of performance-based RSUs (“PSUs”) under the Amended and Restated LGI Homes, Inc. 2013 Equity Incentive Plan to certain members of senior management based on three-year performance cycles. The PSUs provide for shares of our common stock to be issued based on the attainment of certain performance metrics over the applicable three-year periods. 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