Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 101

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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% upon a subsequent financing, equity financing or a change in control, and (iii) a weighted average discount rate of 14.5%. During the six months ended June 30, 2025, the fair value of the convertible notes increased by approximately $267,000, primarily due to accrued interest and the reduction in the estimated time to settlement from a weighted average of 0.77 years to 0.58 years.Nonrecurring Fair Value Measurements 

In accordance with U.S. GAAP, from time to time, the Company measures certain assets at fair value on a nonrecurring basis. The Company reviews the carrying value of intangibles, goodwill and other assets for indications of impairment at least annually. When indications of potential impairment are identified, the Company may be required to determine the fair value of those assets and record an adjustment for the carrying amount in excess of the fair value determined. Any fair value determination would be based on valuation approaches, which are appropriate under the circumstances and utilize Level 2 and Level 3 measurements as required. 

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Table of ContentsMARCUS & MILLICHAP, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 

8.    Stockholders’ Equity 

Common Stock As of June 30, 2025 and December 31, 2024, there were 38,996,974 and 38,856,790 shares of common stock, $0.0001 par value, issued and outstanding, which included unvested RSAs issued to non-employee directors, respectively. See Note 11 – “Loss per Share” for additional information. On July 31, 2025, the Board of Directors declared a semi-annual regular dividend of $0.25 per share, with a payment date of October 6, 2025, to stockholders of record at the close of business on September 15, 2025. The compensation committee of the Company’s Board of Directors (“Compensation Committee”) granted dividend equivalents to all unvested grants as of the record date.As of June 30, 2025, the $2.2 million dividend payable related to unvested stock awards remain to be paid upon vesting of stock awards. The dividend payable is recorded in other liabilities in the condensed consolidated balance sheets, of which $1.2 million is classified as non-current. See Note 5 – “Selected Balance Sheet Data.”Preferred Stock The Company has 25,000