In June 2026, the Company’s Board of Directors approved the amendment and restatement of the Five Point Holdings, LLC 2023 Incentive Award Plan (the “A&R Incentive Award Plan”). The A&R Incentive Award Plan became effective on June 4, 2026, the date on which it was approved by shareholders at the 2026 Annual Meeting of Shareholders, and increased the aggregate number of common shares available for issuance by 7,500,000 Class A common shares of the Holding Company.

The following table summarizes share-based equity compensation activity for the six months ended June 30, 2026:


	Share-Based Awards (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2026	8,614	$	2.52
Granted	2,417	$	4.03

Forfeited	(496)	$	1.84
Vested	(2,545)	$	2.31
Nonvested at June 30, 2026	7,990	$	3.10

Share-based compensation expense was $2.0 million and $3.9 million for the three and six months ended June 30, 2026, respectively, and $1.7 million and $2.9 million for the three and six months ended June 30, 2025, respectively. Share-based compensation expense is included in selling, general, and administrative expenses on the accompanying condensed consolidated statements of operations.

The estimated fair value at vesting of share-based awards that vested during the six months ended June 30, 2026 was $13.5 million. During the six months ended June 30, 2026 and 2025, the Company reacquired vested restricted Class A common shares for $6.5 million and $1.8 million, respectively, for the purpose of settling tax withholding obligations of employees. The reacquisition cost is based on the fair value of the Company’s Class A common shares on the date the tax obligation is incurred.