Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 33

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 counsel believe that the probable resolution of such contingencies will not materially affect the financial position, results of operations, or cash flows of the Company. In the normal course of business, the Company posts letters of credit and performance and other surety bonds related to certain development obligations with local municipalities, government agencies and developers. As of March 31, 2025 and December 31, 2024, performance and surety bonds totaled $38.9 million and $32.1 million, respectively. As of March 31, 2025 and December 31, 2024, there were no outstanding letters of credit.

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Note 10 - Equity:

The following table summarizes the capitalization and voting rights of the Company’s classes of stock as of March 31, 2025: AuthorizedIssued & OutstandingVotes pershareEconomicRightsPreferred stock10,000,000None   Common stock:Class A250,000,0008,991,3781YesClass B100,000,00042,435,89710(1)No(1)Each share of Class B common stock entitles its holders to ten votes per share on all matters presented to the stockholders and on which the holders of the Class B common stock are entitled to vote; provided, that each share of Class B common stock will only be entitled to one vote per share on all matters presented to the stockholders generally upon the Sunset Date.The following table summarizes Class A common stock reserved for issuances as of March 31, 2025:Conversion of LLC Interests held by Continuing Equity Owners42,435,897RSUs2,416,878Total44,852,775The Company’s board of directors is authorized to direct the Company to issue shares of preferred stock in one or more series and the discretion to determine the number and designation of such series and the powers, rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. Through March 31, 2025, no series of preferred stock have been issued.Holders of shares of Class A common stock are entitled to receive dividends when and if declared by the board of directors out of funds legally available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock. Upon dissolution or liquidation, after payment in full of all amounts required to be paid to creditors