Noncontrolling Interests (Tables)
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12 Months Ended |
Dec. 31, 2025 |
|---|
| Noncontrolling Interest [Abstract] |
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| Schedule of Redeemable Noncontrolling Interests |
The following table presents the capital contributions, distributions, and profits and losses allocated to PI Units and OP Units not held by the Company (the “noncontrolling interests”) in the OP (in thousands):
|
|
|
|
|
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Balances |
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Redeemable noncontrolling interests in the OP, December 31, 2024 |
|
$ |
257,454 |
|
Net loss attributable to redeemable noncontrolling interests in the OP |
|
|
(32,131 |
) |
Contributions by redeemable noncontrolling interests in the OP |
|
|
7,471 |
|
Distributions to redeemable noncontrolling interests in the OP |
|
|
(11,692 |
) |
Equity-based compensation |
|
|
26,814 |
|
Other comprehensive loss attributable to redeemable noncontrolling interests in the OP |
|
|
(2,332 |
) |
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP |
|
|
32,260 |
|
Redeemable noncontrolling interests in the OP, December 31, 2025 |
|
$ |
277,844 |
|
The following table presents the capital contributions, distributions, and profits and losses allocated to SFR OP Units not held by the Company (the “redeemable noncontrolling interests in consolidated VIEs”) (in thousands):
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Balances |
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Redeemable noncontrolling interests in consolidated VIEs, December 31, 2024 |
|
$ |
80,711 |
|
Net loss attributable to redeemable noncontrolling interests in consolidated VIEs |
|
|
(17,993 |
) |
Contributions by redeemable noncontrolling interests in consolidated VIEs |
|
|
5,647 |
|
Distributions to redeemable noncontrolling interests in consolidated VIEs |
|
|
(5,647 |
) |
Redemptions by redeemable noncontrolling interests in consolidated VIEs |
|
|
(256 |
) |
Adjustment to reflect redemption value of redeemable noncontrolling interests in consolidated VIEs |
|
|
5,373 |
|
Redeemable noncontrolling interests in consolidated VIEs, December 31, 2025 |
|
$ |
67,835 |
|
|
| Schedule of Pi units Granted Vested Forfeited and Outstanding |
As of December 31, 2025, the Company had granted 705,311 PI Units under the 2018 LTIP. The following table includes the number of PI Units granted, vested, forfeited and outstanding to certain key personnel and senior management under the 2018 LTIP:
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Grant Date |
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PIUs Granted |
|
|
PIUs Vested |
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|
PIUs Forfeited |
|
|
PIUs Outstanding |
|
April 19, 2019 |
|
|
40,000 |
|
|
|
40,000 |
|
|
|
— |
|
|
|
— |
|
November 21, 2019 |
|
|
80,399 |
|
|
|
80,399 |
|
|
|
— |
|
|
|
— |
|
May 11, 2020 |
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|
219,826 |
|
|
|
215,326 |
|
|
|
4,500 |
|
|
|
— |
|
November 30, 2020 |
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|
11,764 |
|
|
|
7,353 |
|
|
|
4,412 |
|
|
|
— |
|
May 31, 2021 |
|
|
246,169 |
|
|
|
234,545 |
|
|
|
11,624 |
|
|
|
— |
|
August 10, 2022 |
|
|
27,849 |
|
|
|
20,957 |
|
|
|
4,646 |
|
|
|
2,245 |
|
February 22, 2023 |
|
|
79,304 |
|
|
|
34,815 |
|
|
|
26,408 |
|
|
|
18,081 |
|
Total |
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|
705,311 |
|
|
|
633,395 |
|
|
|
51,590 |
|
|
|
20,326 |
|
|
| Schedule of Share-based Payment Arrangement, Activity |
As of December 31, 2025, the number of PI Units granted that are outstanding and unvested was as follows (dollars in thousands):
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|
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Dates |
|
Number of PI Units |
|
|
Value (1) |
|
Outstanding December 31, 2023 |
|
|
893,733 |
|
|
$ |
47,438 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(79,893 |
) |
|
|
(3,325 |
) |
Forfeited |
|
|
— |
|
|
|
— |
|
Outstanding December 31, 2024 |
|
|
813,840 |
|
|
$ |
44,113 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(755,442 |
) |
|
|
(39,884 |
) |
Forfeited |
|
|
(38,072 |
) |
|
|
(2,145 |
) |
Outstanding December 31, 2025 |
|
|
20,326 |
|
|
$ |
2,084 |
|
(1)Value is based on the number of PI Units granted multiplied by the estimated per unit fair value on the date of grant, which was $30.16 for the May 11, 2020 grant, $33.45 for the November 30, 2020 grant, $38.29 for the May 31, 2021 grant, $61.74 for the August 10, 2022 grant, $63.04 for the February 22, 2023 grant and $61.63 for the August 3, 2023 grant.
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| Schedule of Vesting Schedule for the PI Units |
The vesting schedule for the PI Units is as follows:
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|
|
|
|
Vest Date |
|
PI Units Vesting |
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February 22, 2026 |
|
|
7,772 |
|
February 24, 2026 |
|
|
398 |
|
April 25, 2026 |
|
|
923 |
|
February 22, 2027 |
|
|
5,155 |
|
April 25, 2027 |
|
|
923 |
|
February 22, 2028 |
|
|
5,155 |
|
|
|
|
20,326 |
|
|
| Schedule of Consolidated Common Stock and OP Units Outstanding |
The table below presents the consolidated Common Stock and OP Units outstanding held by the noncontrolling interests (“NCI”), as the OP Units held by the Company are eliminated in consolidation.
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Year End |
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Common Stock Shares Outstanding |
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|
OP Units Held by NCI |
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Consolidated Common Stock Shares and NCI OP Units Outstanding |
|
December 31, 2023 |
|
|
25,006,237 |
|
|
|
4,266,382 |
|
|
|
29,272,619 |
|
December 31, 2024 |
|
|
25,377,421 |
|
|
|
4,720,458 |
|
|
|
30,097,879 |
|
December 31, 2025 |
|
|
25,912,630 |
|
|
|
5,062,751 |
|
|
|
30,975,381 |
|
|
| Schedule of Noncontrolling Interest |
The following table presents the capital contributions, distributions, and profits and losses allocated to NexPoint Homes Class A common stock, par value $0.01 per share and NexPoint Homes Class I common stock, par value $0.01 not held by the Company (the “noncontrolling interests in consolidated VIEs”) (in thousands):
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|
|
|
|
|
|
Balances |
|
Noncontrolling interests in consolidated VIEs, December 31, 2024 |
|
$ |
6,083 |
|
Net loss attributable to noncontrolling interests in consolidated VIEs |
|
|
(2,468 |
) |
Contributions by noncontrolling interests in consolidated VIEs |
|
|
699 |
|
Distributions to noncontrolling interests in consolidated VIEs |
|
|
(813 |
) |
Redemptions by noncontrolling interests in consolidated VIEs |
|
|
(1,278 |
) |
Noncontrolling interests in consolidated VIEs, December 31, 2025 |
|
$ |
2,223 |
|
|