LGIH — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• For the six months ended June 30, 2026, we closed 2,356 homes, including 110 currently and previously leased single-family homes. Excluding the 110 currently or previously leased single-family homes, our average sales price per home closed was $365,649. For the six months ended June 30, 2025, we clo…

• We sell homes under the LGI Homes and Terrata Homes brands. Our 151 active communities at June 30, 2026 included 16 Terrata Homes communities. At June 30, 2025, we had 146 active communities, including 16 Terrata Homes communities.

• On July 9, 2026, we commenced the dual listing and trading of our common stock on Nasdaq Texas, LLC under the trading symbol “LGIH”.

• Key financial results as of and for the three months ended June 30, 2026, as compared to the three months ended June 30, 2025, were as follows:

• •Homebuilding revenues increased 3.7% to $501.5 million from $483.5 million.

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• We sell homes under the LGI Homes and Terrata Homes brands. Our 142 active communities at March 31, 2026 included 18 Terrata Homes communities. At March 31, 2025, we had 146 active communities, including 17 Terrata Homes communities.

• Key financial results as of and for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, were as follows:

• •Home sales revenues decreased 9.0% to $319.7 million from $351.4 million.

• •Gross margin as a percentage of home sales revenues decreased to 18.7% from 21.0%.

• •Net income before income taxes decreased 24.5% to $4.3 million from $5.7 million.

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that…

• to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision-making can be f…

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• During the three months ended June 30, 2026, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• Retention Arrangements and Annual Cash Bonus Plan Modification

• On February 13, 2026, in order to enhance the retention of certain key officers of the Company, the Compensation Committee of the Board authorized and approved retention arrangements with the executive officers of the Company and certain other officers of the Company. Certain officers of the Company…

• In addition, the Compensation Committee of the Board modified the potential bonus to be paid under the Company’s 2026 annual cash bonus plan for all participants in the plan, including Messrs. Lipar, Snider, Merdian, and Garber. Such participants will receive an additional bonus equal to 25% of such…

• On April 22, 2026, the Company entered into an amendment to the employment agreement with Eric Lipar, our Chief Executive Officer and Chairman of the Board (the “Lipar Employment Agreement”). The amendment provides that, if both the Lipar Employment Agreement and the Change in Control Severance Agre…

• During the three months ended March 31, 2026, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.