Green Brick Partners Extends $330M Credit Facility And Launches $150M Share Repurchase Program

Item 1.01 Entry into a Material Definitive Agreement.

 

On December 10, 2025, Green Brick Partners, Inc., a Delaware corporation (the "Company"), as borrower, entered into the Thirteenth Amendment (the "Thirteenth Amendment") to the Credit Agreement, with the lenders named therein and Flagstar Bank, N.A., as administrative agent (as previously amended, the "Credit Agreement"). Pursuant to the Thirteenth Amendment, the Credit Agreement was amended (i) to reduce the SOFR spread and base rate spread, (ii) to allow the Company to request a revolving credit advance using Daily SOFR (as defined in the Credit Agreement) and (iii) for other administrative changes. The total commitments remain at $330 million. The maturity of all commitments under the facility have been extended to December 14, 2028.

 

All other material terms of the Credit Agreement, as amended, remained unchanged. The description above is qualified in its entirety by the Thirteenth Amendment, a copy of which is filed as Exhibit 10.13 to this Current Report on Form 8-K.

 

The Company and certain of its affiliates from time to time enter into commercial financial arrangements with the lenders under the Credit Agreement and/or their respective affiliates, and affiliates of certain of the lenders provide financial, advisory, investment banking and other services to the Company and its affiliates.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

 

The information set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

 

Item 8.01 Other Events.

 

On December 11, 2025, the Company's Board of Directors (the "Board") authorized a new share repurchase program of up to $150.0 million (the "2026 Repurchase Plan"), which shall commence upon the date in which the Company has exhausted the repurchases available under the Company's previously authorized share repurchase program for the repurchase of up to $100.0 million of common stock of the Company. The new plan has no time deadline and will continue until otherwise modified or terminated by the Company's Board of Directors at any time in its sole discretion. Repurchases will be made from time to time in the open market, through block trades or in privately negotiated transactions based on market and business conditions, applicable legal requirements and other factors. All shares repurchased will be retired.