Equity |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Equity [Abstract] | |
| Equity | Equity The Company’s second amended and restated certificate of incorporation currently authorizes the issuance of 100,000,000 shares of common stock, par value $0.0001, and 1,000,000 shares of preferred stock, par value $0.0001. Incentive Plan Upon the consummation of the Company’s business combination with LHLLC in July 2016, the Company adopted an omnibus incentive plan (as amended, the “Omnibus Incentive Plan”) pursuant to which equity awards may be granted thereunder. See Note 14 – Management Incentive Plans for a discussion of the Company’s management incentive plans for restricted stock units (“RSUs”) granted, vested, forfeited and remaining unvested. Share Repurchase Program In December 2025, the Company announced that its Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), pursuant to which the Company may, from time to time, purchase up to $50.0 million of shares of its common stock through December 15, 2027. Share repurchases may be executed through various means, including, without limitation, open market transactions, privately negotiated transactions or by other means in accordance with federal securities laws. Repurchases may also be made under Rule 10b5-1 plans. The Share Repurchase Program does not obligate the Company to acquire any particular amount of common stock, and the program may be suspended or terminated by the Company at any time at its discretion without prior notice. As of September 30, 2026, the Company had repurchased 194,788 shares under the Share Repurchase Program at an average price of $51.31 per share for an aggregate cost of approximately $10.0 million. The repurchased shares are held as treasury stock. Employee Stock Purchase Plan Upon approval of the Company’s stockholders on May 30, 2019, the Company adopted the Limbach Holdings, Inc. 2019 Employee Stock Purchase Plan (the “ESPP”), which became effective on January 1, 2020. The ESPP permits eligible employees to purchase shares of the Company's common stock through payroll deductions at a purchase price equal to 85% of the fair market value of the Company's common stock at the end of each offering period. Offering periods are six months in duration and commence on January 1st and July 1st of each year. A total of 500,000 shares of common stock are authorized for issuance under the ESPP. In January 2026 and July 2026, the Company issued 3,305 and 3,926 shares of common stock, respectively, under the ESPP. In January 2025 and July 2025, the Company issued a total of 2,321 and 2,175 shares of common stock, respectively, under the ESPP. As of September 30, 2026, 371,139 shares of common stock remain available for future issuance under the ESPP.
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