Westwood Holdings Group Q3 Compensation Expense Declines

TL;DR

**WHG Q3 comp expense down to $1.28M from $1.38M last year.**

AI Summary

Westwood Holdings Group Inc. reported total stock-based compensation expense of $1,380 thousand for the three months ended September 30, 2023, and $1,283 thousand for the same period in 2024. The expense primarily relates to service condition stock-based compensation. The company's fiscal year ends on December 31st, and this 10-Q filing covers the period ending September 30, 2024.

Why It Matters

A decrease in stock-based compensation expense can indicate a reduction in equity awards granted or a change in valuation assumptions, potentially impacting future dilution and employee incentives.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative financial events or disclosures.

Key Numbers

• $1,380,000 — Stock-based compensation expense (For the three months ended September 30, 2023)
• $1,283,000 — Stock-based compensation expense (For the three months ended September 30, 2024)
• 20240930 — Reporting Period End Date (As of September 30, 2024)

Key Players & Entities

• WESTWOOD HOLDINGS GROUP INC (company) — Filer
• 20240930 (date) — Reporting period end date
• $1,380 (dollar_amount) — Stock-based compensation expense for Q3 2023
• $1,283 (dollar_amount) — Stock-based compensation expense for Q3 2024

FAQ

Key Financial Figures

• $0.01 — ich Registered Common stock, par value $0.01 per share WHG New York Stock Exchange
• $8,326 — ent, net of accumulated depreciation of $8,326 and $10,078 1,014 1,444 Other long-ter
• $10,078 — accumulated depreciation of $8,326 and $10,078 1,014 1,444 Other long-term assets 1,1
• $0.15 — — — — 105 54 159 Dividends declared ($0.15 per share) — — ( 1,226 ) — ( 151 ) — (
• $0.45 — 6 4 ( 4 ) — — — — Dividends declared ($0.45 per share) — — ( 3,692 ) — ( 515 ) — (

Filing Documents

• whg-20240930.htm (10-Q) — 1358KB
• a3q24exhibit311.htm (EX-31.1) — 10KB
• a3q24exhibit312.htm (EX-31.2) — 9KB
• a3q24exhibit321.htm (EX-32.1) — 5KB
• a3q24exhibit322.htm (EX-32.2) — 5KB
• 0001165002-24-000076.txt ( ) — 6732KB
• whg-20240930.xsd (EX-101.SCH) — 53KB
• whg-20240930_cal.xml (EX-101.CAL) — 47KB
• whg-20240930_def.xml (EX-101.DEF) — 266KB
• whg-20240930_lab.xml (EX-101.LAB) — 619KB
• whg-20240930_pre.xml (EX-101.PRE) — 467KB
• whg-20240930_htm.xml (XML) — 798KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Statements of Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 PART II OTHER INFORMATION 28 Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 30 WESTWOOD HOLDINGS GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value and share amounts) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 22,790 $ 20,422 Accounts receivable 14,596 14,394 Investments, at fair value 25,522 32,674 Prepaid income taxes 639 205 Other current assets 5,075 4,543 Total current assets 68,622 72,238 Investments 8,944 7,247 Equity method investments 4,211 4,284 Noncurrent investments at fair value 1,919 241 Goodwill 39,501 39,501 Deferred income taxes 1,590 726 Operating lease right-of-use assets 2,842 3,673 Intangible assets, net 21,718 24,803 Property and equipment, net of accumulated depreciation of $8,326 and $10,078 1,014 1,444 Other long-term assets 1,140 1,010 Total long-term assets 82,879 82,929 Total assets $ 151,501 $ 155,167 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 4,934 $ 6,130 Dividends payable 1,431 1,692 Compensation and benefits payable 8,283 9,539 Operating lease liabilities 1,523 1,286 Total current liabilities 16,171 18,647 Accrued dividends 905 675 Contingent consideration 12,000 10,133 Noncurrent operating lease liabilities 2,041 3,266 Total long-term liabilities 14,946 14,074 Total liabilities 31,117 32,721 Commitments and contingencies (Note 11) Stockholders' Equity: Common stock, $0.01 par value, authorized 25,000,000 shares, issued 12,174,073 and 11,856,737, respectively and outstanding 9,271,568 and 9,140,760, respectively 123 119 Additional paid-in capital 202,247 201,622 Treasury stock, at cost – 2,902,505 and 2,715,977, respectively ( 88,278 ) ( 85,990 ) Retained earnings 4,293 4,650 Total Westwood Holdings Group, Inc. stockholders' equity 118,385 120,401 Noncontrolling interest in consolidated subsidiary 1,999 2,045 Total equity 120,384 122,446 Total liabilities and stockholders' equity $ 15

View Full Filing

View this 10-Q filing on SEC EDGAR