Meritage Homes Corporation Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2020

STOCKHOLDERS’ EQUITY

A summary of changes in stockholders’ equity is presented below (in thousands):


	Nine Months Ended September 30, 2020
	(In thousands)
	Number of Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Total
Balance at December 31, 2019	38,199	$	382	$	505,352	$	1,468,256	$	1,973,990
Net earnings	—	—		—		71,152		71,152
Stock-based compensation expense	—	—		6,437		—		6,437
Issuance of stock	398	4		(4)		—		—
Share repurchases	(1,000)	(10)		(60,803)		—		(60,813)
Balance at March 31, 2020	37,597	$	376	$	450,982	$	1,539,408	$	1,990,766
Net earnings	—	—		—		90,678		90,678
Stock-based compensation expense	—	—		3,157		—		3,157
Issuance of stock	6	1		(1)		—		—
Balance at June 30, 2020	37,603	377		454,138		1,630,086		2,084,601
Net earnings	—	—		—		109,118		109,118
Stock-based compensation expense	—	—		6,130		—		6,130
Issuance of stock	9	—		—		—		—
Balance at September 30, 2020	37,612	$	377	$	460,268	$	1,739,204	$	2,199,849


	Nine Months Ended September 30, 2019
	(In thousands)
	Number of Shares	Common Stock		Additional Paid-In Capital		Retained Earnings		Total
Balance at December 31, 2018	38,073	$	381	$	501,781	$	1,218,593	$	1,720,755
Net earnings	—	—		—		25,412		25,412
Stock-based compensation expense	—	—		5,861		—		5,861
Issuance of stock	400	4		(4)		—		—
Share repurchases	(209)	(2)		(8,955)		—		(8,957)


Balance at March 31, 2019	38,264	$	383	$	498,683	$	1,244,005	$	1,743,071
Net earnings	—	—		—		50,828		50,828
Stock-based compensation expense	—	—		4,201		—		4,201
Issuance of stock	3	—		—		—		—
Balance at June 30, 2019	38,267	383		502,884		1,294,833		1,798,100
Net earnings	—	—		—		69,809		69,809
Stock-based compensation expense	—	—		5,657		—		5,657
Issuance of stock	32	—		—		—		—
Balance at September 30, 2019	38,299	$	383	$	508,541	$	1,364,642	$	1,873,566