Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 98

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 ASC 405. As a result, on December 11, 2024 the Company recognized a loss on extinguishment of $45.6 million based on the difference between the total reacquisition price of the extinguished debt, including the make-whole amount of $37.1 million, and the net carrying amount of the Convertible Notes on the Redemption Date. There is no remaining debt balance associated with the Convertible Notes as of June 30, 2025 and December 31, 2024.Interest expense previously capitalized and included within Cost of sales on the Condensed Consolidated Statements of Operations was $0.6 million and $1.4 million for the Convertible Notes for the three and six months ended June 30, 2025, respectively.Interest expense included within Other expense, net on the Condensed Consolidated Statements of Operations was $2.3 million and $4.4 million for the Convertible Notes for the three and six months ended June 30, 2024, respectively. Interest expense included within Cost of sales on the Condensed Consolidated Statements of Operations was $1.1 million and $3.2 million for the Convertible Notes for the three and six months ended June 30, 2024, respectively.

Note 11 - Stock-based compensationStock optionsThe following table summarizes the activity relating to the Company’s stock options:Stock optionsWeighted-average per share exercise priceOutstanding, December 31, 20245,031,303 $8.92 Granted1,553,666 4.37 Exercised— — Forfeited(430,164)7.59 Outstanding, June 30, 20256,154,805 $7.87 Options exercisable at June 30, 20252,143,970 $8.55 Stock-based compensation expense, net of forfeitures, included in Selling, general and administrative expense in the Condensed Consolidated Statements of Operations for stock options for the three months ended June 30, 2025 and 2024 was $1.1 million and $1.6 million, respectively, and $2.8 million and $2.9 million for the six months ended June 30, 2025 

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and 2024, respectively. As of June 30, 2025, total unrecognized stock compensation expense related to unvested stock option arrangements was $