Company: LGIH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001580670-25-000016
Chunk: 271

Company: LGI Homes, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 271
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239 $100.93 Granted48,946 $109.47 Vested(53,894)$71.84 Forfeited(7,932)$115.05 Balance at December 31, 2023133,359 $114.98 Granted105,350 $104.63 Vested(28,100)$138.06 Forfeited(15,656)$108.24 Balance at December 31, 2024194,953 $106.60 In 2024, we issued 17,767 RSUs to senior management for the time-based portion of our 2024 long-term incentive compensation program and 30,876 RSUs for 2023 annual bonuses to managers, which generally cliff vest on the third anniversary of the grant date. In 2023, we issued 22,912 RSUs to senior management for the time-based portion of our 2023 long-term incentive compensation program and 8,256 RSUs for 2022 annual bonuses to managers, which generally cliff vest on the third anniversary of the grant date. In 2022, we issued 16,731 RSUs to senior management for the time-based portion of our 2022 long-term incentive compensation program and 10,404 RSUs for 2021 annual bonuses to managers, which generally cliff vest on the third anniversary of the grant date. In addition, during the years ended December 31, 2024, 2023 and 2022, we issued 56,707, 17,778 and 56,116 RSUs, respectively, to certain employees, executives and non-employee directors, which vest over periods ranging from one to three years. Under the terms of the grant award agreements, all of the RSUs may only be settled in shares of our common stock.We recognized $5.2 million, $4.9 million, and $3.6 million of stock-based compensation expense related to outstanding RSUs for the years ended December 31, 2024, 2023 and 2022, respectively. At December 31, 2024, we had unrecognized 

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compensation cost of $11.0 million related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.1 years.Performance-Based Restricted Stock UnitsThe Compensation Committee of the Board has granted awards of performance-based RSUs (“PSUs”) under the 2013 Incentive