Company: SDHC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001982518-25-000064
Chunk: 40

Company: Smith Douglas Homes Corp.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 restricted stock units.Time-based Restricted Stock UnitsThe following table summarizes information about our time-based restricted stock units (RSUs):Three months ended June 30,Six months ended June 30,2025202420252024RSUsWeighted Average Grant Date Fair ValueRSUsWeighted Average Grant Date Fair ValueRSUsWeighted Average Grant Date Fair ValueRSUsWeighted Average Grant Date Fair ValueBeginning balance518,007 $21.12 440,727 $21.00 463,938 $21.34 — $— Granted39,364 19.87 24,269 25.42 283,887 20.51 464,996 21.22 Vested(23,897)25.46 — — (214,161)21.50 — — Forfeited— — (2,850)21.00 (190)21.00 (2,850)21.00 Ending balance533,474 $20.83 462,146 $21.23 533,474 $20.83 462,146 $21.23 Generally, the RSUs granted during the six months ended June 30, 2025 vest in three equal installments on each of the first three anniversaries of the grant date, subject to the employee’s continued employment through the applicable vesting date. The RSUs granted during the six months ended June 30, 2024 vested in full upon the one-year anniversary of the closing date of the IPO, subject to the employee’s continued employment or the director’s continued service, with the exception of one executive’s award that vests in six equal installments on each of the first six anniversaries of the closing date of the IPO, subject to the employee’s continued employment through the applicable vesting date. Additionally, vesting of the awards granted during the six months ended June 30, 2025 and 2024 is subject to certain change in control and qualifying termination provisions as provided in the award agreements.The Company recognized compensation expense for RSUs of approximately $0.9 million and $1.5 million during the three and six months ended June 30, 2025, respectively, and $1.0 million and $1.9 million during the three and six months ended June 30, 2024, respectively, which is included in selling, general and administrative costs in the accompanying unaud