1 unchanged sentence
Rule 10b5-1 Trading Arrangements
−Removed: During the three months ended March 31, 2025, 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.
−Removed: Amendment to 2024 Credit Agreement
−Removed: On April 28, 2025, we entered into the Sixth Amendment, which amended the 2024 Credit Agreement.
−Removed: The Sixth Amendment, among other things, (a) extended the maturity of the commitments of certain lenders under the Credit Agreement to April 28, 2029, (b) added certain financial institutions as issuers of letters of credit and (c) reset the tangible net worth financial covenant for the period from and after the date of the Sixth Amendment.
−Removed: The Credit Agreement matures on April 28, 2029 with respect to $972.5 million, or 82.2%, of the $1.1825 billion of commitments thereunder and on April 28, 2028 with respect to 17.8% of the commitments thereunder.
−Removed: The Credit Agreement otherwise has substantially similar terms and provisions to the 2024 Credit Agreement.
+Added: During the three months ended June 30, 2025, 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.
+Added: Amendment to June 2025 Credit Agreement
+Added: On August 1, 2025, we entered into the Letter Agreement Amendment, which amended the June 2025 Credit Agreement.
+Added: The Letter Agreement Amendment, among other things, amended (i) the borrowing base by removing model housing units from the borrowing base sublimit, (ii) the financial covenants to (a) decrease the minimum EBITDA to interest expense ratio through December 31, 2026, (b) increase the minimum liquidity amount, (c) decrease the maximum leverage ratio through December 31, 2026 and (d) delete the covenant related to limitations on wholesale sales contracts, (iii) the permitted secured debt basket by increasing the available capacity thereunder and (iv) the restricted payment covenant to restrict the repurchase of shares and payment of dividends through December 31, 2026, subject to the terms and conditions set forth therein.
+Added: The Credit Agreement otherwise has substantially similar terms and provisions to the June 2025 Credit Agreement.
For additional information on the Credit Agreement (including defined terms used in this paragraph), see Note 4, “Notes Payable” to our consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.
12 unchanged sentences
Sixth Amendment to Fifth Amended and Restated Credit Agreement, dated as of April 28, 2025, by and among LGI Homes, Inc., each of the financial institutions initially a signatory thereto, and Wells Fargo Bank, National Association, as administrative agent.
+Added: Amendment No.
+Added: 1 to the LGI Homes, Inc.
+Added: 2016 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K (File No.
+Added: 001-36126) of LGI Homes, Inc.
+Added: filed with the SEC on April 29, 2025).
+Added: Letter Agr eement , dated as of Ju ne 2 , 2025, by and among LGI Homes, Inc., each of the financial institutions initially a signatory thereto, and Wells Fargo Bank, National Association, as administrative agent.
+Added: Letter Agreement, dated as of August 1 , 2025, by and among LGI Homes, Inc., each of the financial institutions initially a signatory thereto, and Wells Fargo Bank, National Association, as administrative agent.
31.1* CEO Certification, Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
16 unchanged sentences
LGI Homes, Inc.
−Removed: April 29, 2025 /s/ Eric Lipar
+Added: August 5, 2025 /s/ Eric Lipar
Chief Executive Officer and Chairman of the Board
−Removed: April 29, 2025 /s/ Charles Merdian
+Added: August 5, 2025 /s/ Charles Merdian
Charles Merdian
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.