Welcome to our dedicated page for Smith Douglas Homes SEC filings (Ticker: SDHC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Smith Douglas Homes Corp. filings document the company’s public-company reporting as a NYSE-listed homebuilder and emerging growth company. Recent Form 8-K reports furnish quarterly and annual financial-result releases that include home closings, home closing revenue, gross margin, net new orders, backlog and income measures tied to its homebuilding operations.
The company’s definitive proxy statement covers annual meeting procedures, stockholder voting matters and governance disclosures. Its filings also identify emerging growth company status and provide formal records for material events, operating results and corporate governance matters affecting Smith Douglas Homes.
Smith Douglas Homes Corp. director and 10% owner Thomas L. Bradbury bought 22,618 shares of Class A Common Stock in an open-market transaction at a weighted average price of $11.3578 per share. After this purchase, his direct holdings increased to 58,918 shares. The filing notes these shares were acquired through multiple trades at prices ranging from $11.35 to $11.86.
Smith Douglas Homes Corp. director George Ervin Perdue III reported an open-market purchase of 20,300 shares of Class A common stock. The weighted-average purchase price was $12.2666 per share, with individual trades executed between $11.76 and $12.67 per share. Following this transaction, he directly owns 60,684 shares of Smith Douglas Homes common stock.
Bennett Gregory S reported acquisition or exercise transactions in this Form 4 filing.
Smith Douglas Homes Corp. reported that insider Gregory S. Bennett received a grant of 133,717 shares of Class A Common Stock as a restricted stock unit award at a price of $0.00 per share. Following this grant, he directly holds 230,757 shares.
The footnotes explain that each RSU represents one share of Class A Common Stock and that the RSUs vest in three equal installments on each of the first three anniversaries of March 13, 2026, subject to continued employment. A prior Form 4 had incorrectly shown GSB Holdings LLC as indirectly holding shares; the correction states GSB Holdings holds no Class A shares.
Smith Douglas Homes Corp. details its business model and structure in its annual report. The company builds single-family homes for entry-level and empty-nest buyers in high-growth Southeastern and Southern U.S. markets using a land-light, option-based lot strategy that limits balance sheet risk. As of December 31, 2025, it controlled 22,268 lots, with 20,556 under option, and operated 100 active communities.
The builder emphasizes an efficient, schedule-driven production platform supported by its SMART Builder ERP system and Rteam partner model, producing average construction cycle times of about 57 business days and inventory turnover of 2.6x in 2025. Home closing gross margins were approximately 22% in 2025 versus 26% in 2024, with 2,908 homes closed and an average sales price of about $334,000.
The report explains its 2024 IPO and Up-C structure, dual-class high/low vote shares, and a Tax Receivable Agreement under which Continuing Equity Owners receive 85% of certain tax benefits. The company highlights conservative leverage, with debt-to-book capitalization of 9% and significant undrawn revolver capacity, and outlines growth plans to expand within existing and adjacent markets.
Smith Douglas Homes Corp. reported softer results for Q4 and full year 2025, with profitability pressured despite record activity. Q4 home closing revenue fell 9% to $260.4 million, and home closing gross margin declined to 19.9% from 25.5%, cutting pre-tax income to $16.9 million from $30.0 million.
For 2025, home closings inched up 1% to 2,908, but home closing revenue was essentially flat at $971.1 million and gross margin compressed to 21.8% from 26.2%. Net income dropped to $68.4 million from $111.8 million, with diluted EPS at $1.19. Debt-to-book capitalization rose to 9.0%, operating cash flow swung to a $31.3 million outflow, while active communities increased 28% to 100 and total controlled lots grew 14% to 22,268.
Smith Douglas Homes Corp. received an amended beneficial ownership report showing that former institutional holder 12 West Capital Management LP and its managing member, Joel Ramin, now report 0 shares of Class A common stock, representing 0% of the class as of 12/31/2025.
The filers confirm they own 5% or less of the stock and state that the securities referenced were not acquired and are not held for the purpose of changing or influencing control of the company.
Kayne Anderson Rudnick Investment Management, LLC and affiliated Virtus entities report sizable ownership stakes in Smith Douglas Homes Corp Class A shares. As of 12/31/2025, Kayne Anderson Rudnick reports beneficial ownership of 1,469,003 shares, representing 16.3% of the class, with both sole and shared voting and dispositive powers.
Virtus Investment Advisers, LLC reports beneficial ownership of 898,919 shares, or 10.0%, all with shared voting and dispositive power. Virtus Equity Trust, on behalf of Virtus KAR Small-Cap Growth Fund, reports 861,148 shares, or 9.5%, also with shared voting and dispositive power. The filers state the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Smith Douglas Homes.
Smith Douglas Homes Corp. Executive Vice President & Chief Financial Officer Russell Devendorf reported a Form 4 transaction involving Class A common stock. On January 16, 2026, 14,024 shares were withheld at $20.90 per share to pay withholding taxes due upon the vesting of a portion of restricted stock units that were granted to him on January 16, 2024. After this tax withholding transaction, he beneficially owns 285,928 Class A common shares, held directly.
Smith Douglas Homes (SDHC): 12 West Capital Management LP and Joel Ramin filed Amendment No. 1 to Schedule 13G reporting beneficial ownership of 535,140 shares of Class A common stock, representing 5.9% of the class as of the reporting date. The filing lists shared voting and dispositive power over 535,140 shares and no sole voting or dispositive power. The date of event triggering the filing is 09/30/2025.
The percentage was calculated using 9,017,152 shares outstanding as of August 1, 2025, as disclosed in the company’s Form 10‑Q. The filers certified the holdings were not acquired and are not held for the purpose of changing or influencing control, consistent with a passive 13G filing.
Wasatch Advisors LP filed an amended Schedule 13G reporting beneficial ownership of 1,177,332 Smith Douglas Homes Corp Class A shares, representing 13.1% of the class. The event date prompting the filing is 09/30/2025.
Wasatch reports 893,264 shares with sole voting power and 1,177,332 shares with sole dispositive power, with no shared voting or dispositive power. The filer is classified as an investment adviser (IA) and certifies the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.