DFH Adds $25M to Stock Repurchase Program, Extends Capital Return

Rhea-AI Filing Summary

Dream Finders Homes (NYSE:DFH) filed an 8-K revealing its board has doubled the existing share-repurchase authorization to $50 million, up from $25 million approved in June 2023.

The program permits open-market or privately negotiated buybacks, compliant with Rule 10b-18, and runs through June 30, 2026. Management kept full discretion over timing, size and pricing.

• Total authorization: $50 M
• Incremental capacity added: $25 M
• Expiration unchanged

No additional financial results were provided; the filing contains standard forward-looking statements and refers investors to the most recent 10-K/10-Q for risk factors.

Positive

• Share-repurchase authorization doubled to $50 million, providing additional $25 million capacity for potential EPS-accretive buybacks through June 30, 2026.

Negative

• None.

Insights

Capital Markets Analyst

TL;DR – Buyback capacity doubled, signaling confidence and potential EPS tailwind.

Increasing the authorization to $50 million adds $25 million of dry powder for opportunistic repurchases. While execution remains discretionary, any shares retired at or below book value would be immediately accretive to per-share metrics and could soften volatility in a rate-sensitive sector. The move also suggests the balance sheet can fund both land investment and capital return without stretching leverage. With the window open until June 2026, management has flexibility to time purchases around cash-flow peaks and housing-cycle swings.

Risk Analyst

TL;DR – Optics positive; actual impact hinges on execution pace.

The headline increase is constructive, yet the filing offers no commitment to a minimum buyback cadence. Housing demand and input-cost inflation could redirect cash toward working capital, limiting repurchase activity. Additionally, the authorization equals a fixed dollar amount, so rising share prices could reduce the number of shares retired. Investors should watch quarterly cash-flow statements for tangible buyback progress before banking on EPS leverage.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 26, 2025

Dream Finders Homes, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39916

85-2983036

(State or other jurisdiction of incorporation)

(Commission  File Number)

(I.R.S. Employer  Identification No.)

14701 Phillips Highway, Suite 300 Jacksonville , Florida						32256
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (904) 644-7670

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class A Common Stock			DFH			NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On June 26, 2025, Dream Finders Homes, Inc. (the “Company”) announced an increase in the limit of its Class A common stock that can be repurchased under its share buyback program to $50.0 million from $25.0 million, as previously approved in June 2023. As established in the June 2023 share buyback program, repurchases may be executed through June 30, 2026 in open market purchases, privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Forward-Looking Statements

This Form 8-K includes forward-looking statements regarding future events, including expectations and projections relating to the share buyback program. All forward-looking statements are based on the Company’s beliefs as well as assumptions made by and information currently available to it. These statements reflect the Company’s current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and other filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			DREAM FINDERS HOMES, INC.
Date: June 26, 2025			By:			/s/ Robert E. Riva
						Robert E. Riva
						Vice President, General Counsel and Corporate Secretary

FAQ

How much stock can Dream Finders Homes (DFH) now repurchase?

The total authorization has been increased to $50 million of Class A common stock.

What was DFH's previous share-buyback limit?

The prior limit, set in June 2023, was $25 million.

Until when is DFH's repurchase program valid?

Repurchases may be made through June 30, 2026.

How will DFH execute the share buybacks?

Purchases can occur in open-market or privately negotiated transactions, or otherwise in compliance with Rule 10b-18.

Did DFH disclose specific timing or pricing for the buybacks?

No. Management retained full discretion over the timing, amount and price of any future repurchases.