Share-based payments	12 Months Ended
Share-based payments	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based payments	Note 14 - Share-based payments: In connection with the IPO, the stockholders approved the 2024 Incentive Award Plan (the 2024 Plan), which became effective on January 10, 2024. The 2024 Plan generally is administered by the board of directors with respect to awards to non-employee directors and by the compensation committee with respect to other participants and authorizes the Company to grant incentive stock-based awards. Under the 2024 Plan, 2,051,282 shares of Class A common stock were initially reserved for issuance, which shares may be granted pursuant to a variety of equity-based compensation awards, including stock options, stock appreciation rights, RSUs, and other equity-based awards. The number of shares initially reserved for issuance pursuant to awards under the 2024 Plan includes an annual increase on the first day of each calendar year beginning on January 1, 2025 and ending on January 1, 2034, equal to (a) a number of shares of Class A common stock equal to 1% of the aggregate number of shares of Class A and Class B common stock outstanding on the last day of the immediately preceding calendar year or (b) such smaller number of shares of Class A common stock as determined by the board of directors. No more than 10,000,000 shares of Class A common stock may be issued upon the exercise of incentive stock options. As of December 31, 2024, 1,580,201 shares of Class A common stock are available for future grant under the 2024 Plan. In January 2024, the Company granted an aggregate of 440,727 RSUs to certain of the Company’s executives, directors, and employees under the 2024 Plan with an aggregate grant date fair value of $9.3 million. The awards 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 is subject to certain change in control and qualifying termination provisions as provided in the award agreements. During the year ended December 31, 2024, with the exception of the January 2024 RSU awards described above, the Company granted an aggregate of 36,054 RSUs to certain of the Company's executives and directors under the 2024 Plan with an aggregate grant date fair value of $0.9 million. The awards vest in equal installments over terms ranging from one to three years, subject to certain change in control and qualifying termination provisions as provided in the award agreements. During the year ended December 31, 2024, the Company recognized forfeitures of 5,700 RSUs with a weighted average grant date fair value of $21.00 per share. As of December 31, 2024, 463,938 RSUs are outstanding and remain unvested with a weighted-average grant date fair value of $21.34. As of December 31, 2024, 7,143 vested RSUs have not yet been settled through issuance of shares of Class A common stock with a weighted-average grant date fair value of $21.00 per share. Total compensation expense for RSUs was approximately $4.4 million for the year ended December 31, 2024 and is included in selling, general and administrative costs in the accompanying consolidated statement of income. The unamortized compensation cost related to RSUs of approximately $5.7 million as of December 31, 2024 is expected to be recognized over a weighted-average period of approximately 1.64 years.

Smith Douglas Homes Corp. 10-K