Green Brick Partners (NYSE: GRBK) okays $150M buyback, extends $330M credit line

Rhea-AI Filing Summary

Green Brick Partners amended its revolving credit facility on December 10, 2025 through a Thirteenth Amendment that reduces both the SOFR spread and the base rate spread. The total lender commitments remain at $330 million, and the maturity of all commitments is extended to December 14, 2028, providing longer-term access to this source of funding.

On December 11, 2025, the board authorized a new share repurchase program of up to $150.0 million of common stock, which will begin once the company has exhausted its previously approved $100.0 million repurchase program. The new plan has no time deadline, allows repurchases in the open market, through block trades, or privately negotiated transactions based on market and business conditions and legal requirements, and specifies that all repurchased shares will be retired.

Insights

Corporate finance analyst

Lower-cost, longer-dated credit and a new $150.0 million buyback authorization increase capital allocation flexibility.

The Thirteenth Amendment keeps total revolving credit commitments at $330 million but reduces the SOFR and base rate spreads. That means interest charged on borrowings under this facility will be based on lower margins over the reference rates than before. Extending the maturity of all commitments to December 14, 2028 also lengthens the period over which this funding source is contractually available.

The board’s authorization of a new common stock repurchase program of up to $150.0 million, starting after the existing $100.0 million program is fully used, lays out a framework for returning capital through open-market purchases, block trades, or privately negotiated transactions. Actual effects on share count and per-share metrics will depend on future repurchase activity and prevailing market and business conditions, and the board can modify or terminate the plan at its discretion.

8-K Event Classification

4 items: 1.01, 2.03, 8.01, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

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

The company incurred a new significant debt or off-balance-sheet obligation.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

___________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 10, 2025

Green Brick Partners, Inc.

(Exact name of registrant as specified in its charter)

Delaware															001-33530						20-5952523
(State or other jurisdiction of incorporation)															(Commission File Number)						(IRS Employer Identification Number)
5501 Headquarters Drive			,			Ste 300W
Plano			,			TX			75024						(469)						573-6755
(Address of principal executive offices, including Zip Code)															(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report) Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.01 per share			GRBK			The New York Stock Exchange
Common Stock, par value $0.01 per share			GRBK			NYSE Texas, Inc.
Depositary Shares (each representing a 1/1000th interest in a share of 5.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share)			GRBK PRA			The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

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.

Item 9.01 Financial Statements and Exhibits.

Exhibit						Description
10.13						Thirteenth Amendment to the Credit Agreement, dated December 10, 2025, by and among Green Brick Partners, Inc., the lenders named therein, and Flagstar Bank, N.A., as administrative agent.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                

GREEN BRICK PARTNERS, INC.
By:			/s/ Jeffery D. Cox
Name:			Jeffery D. Cox
Title:			Chief Financial Officer

Date:    December 16, 2025

FAQ

What changes did Green Brick Partners (GRBK) make to its credit facility?

Green Brick Partners entered a Thirteenth Amendment to its Credit Agreement, reducing the SOFR spread and base rate spread while keeping total commitments at $330 million and extending the maturity of all commitments to December 14, 2028.

How large is Green Brick Partners' new share repurchase program?

The board authorized a new share repurchase program, called the 2026 Repurchase Plan, for up to $150.0 million of the company’s common stock.

When will the new GRBK 2026 Repurchase Plan start?

The new 2026 Repurchase Plan will commence once Green Brick Partners has exhausted the repurchases available under its previously authorized $100.0 million share repurchase program.

Does Green Brick Partners' new repurchase plan have an expiration date?

The new share repurchase plan has no time deadline and will continue until it is modified or terminated by the board of directors.

How can Green Brick Partners (GRBK) execute share repurchases under the new plan?

Repurchases may be made from time to time in the open market, through block trades, or in privately negotiated transactions, subject to market and business conditions, legal requirements, and other factors. All repurchased shares will be retired.

Who is the administrative agent on Green Brick Partners' amended credit agreement?

Flagstar Bank, N.A. serves as the administrative agent under the amended Credit Agreement, alongside the lenders named in the agreement.