Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 24

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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     EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024: 

Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Numerator (in thousands): Net income (Numerator for basic and diluted earnings per share)$19,704 $69,575 $55,231 $145,201 Denominator:       Basic weighted average shares outstanding23,056,904 23,500,349 23,223,736 23,540,620        Effect of dilutive securities:Stock-based compensation units92,101 79,243 65,544 71,286       Diluted weighted average shares outstanding23,149,005 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