Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 39

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 39
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 up to 16,000,000 shares of common stock.Share-based awards in connection with our annual long term incentive plan (“LTIP”) may be issued in the form of time vesting, performance based vesting, and/or market based vesting restricted stock units (“RSUs”) or, in certain cases, partnership ownership units (“LTIP OP Units”). Historically, we also issued Outperformance Awards (defined below). Time-vesting RSUs and LTIP OP Units are participating securities for earnings (loss) per share (“EPS”) purposes, and performance and/or market based RSUs and LTIP OP Units (“PRSUs”) and Outperformance Awards are not. For a detailed discussion of share-based awards issued prior to January 1, 2025, refer to our Annual Report on Form 10-K for the year ended December 31, 2024.Share-Based AwardsThe following summarizes our share-based award activity during the three months ended March 31, 2025.LTIP Awards:•Annual LTIP Awards Granted: During the three months ended March 31, 2025, we granted 865,182 RSUs and 207,173 LTIP OP Units pursuant to LTIP awards. Each award includes components which vest based on time-vesting conditions, market-based vesting conditions, and/or performance-based vesting conditions, each of which is subject to continued employment through the applicable vesting date.Time-vesting RSUs and LTIP OP Units vest in three equal annual installments based on an anniversary date of March 1st. LTIP PRSUs may be earned based on the achievement of certain measures over a three year performance 

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

period. The number of PRSUs earned will be determined based on performance achieved during the performance period for each measure at certain threshold, target, or maximum levels and corresponding payout ranges. In general, the LTIP PRSUs are earned after the end of the performance period on the date on which the performance results are certified by our compensation and management development committee (the “Compensation Committee”).All of the LTIP awards are subject to certain change in control and retirement eligibility provisions that may impact these vesting schedules.•PRSU Results: During the three months ended March 31, 2025, certain PRSUs did not achieve performance criteria, resulting in the cancellation of