Erin McGinnis
About Erin McGinnis
Erin Reeves McGinnis is General Counsel and Corporate Secretary of United Homes Group (UHG), serving since July 2023; she was 40 years old as of the 2025 proxy record date and holds a JD from the University of Georgia School of Law and a BA in Political Science from the University of Georgia . Prior to UHG, she was Partner and Co‑Chair of the Securities Practice Group at Nelson Mullins Riley & Scarborough (Dec 2018–Jun 2023), Of Counsel (Mar 2017–Dec 2018), and previously held associate roles at Troutman Sanders and Baker Donelson, as well as Associate General Counsel at Griffin Capital Company, LLC . During her tenure, she has served as a key governance and disclosure gatekeeper, including hosting and delivering forward‑looking statement disclaimers on UHG’s Q4’24, Q1’25, and Q2’25 earnings calls . Company KPIs during her tenure reflect operational pressure in 2025: revenue fell to $283.3M for the nine months ended Sep 30, 2025 vs $328.9M in 2024; gross profit declined to $50.1M from $58.1M; and UHG posted a net loss of $19.5M vs net income of $46.2M in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nelson Mullins Riley & Scarborough LLP | Partner; Co‑Chair, Securities Practice Group | Dec 2018–Jun 2023 | Led public company SEC reporting/compliance advisory; capital markets transactions support |
| Nelson Mullins Riley & Scarborough LLP | Of Counsel | Mar 2017–Dec 2018 | Corporate governance and securities advisory |
| Troutman Sanders LLP (now Troutman Pepper) | Associate | Not disclosed | SEC reporting and corporate transactions experience |
| Baker, Donelson, Bearman, Caldwell & Berkowitz, P.C. | Associate | Not disclosed | Corporate/securities legal practice |
| Griffin Capital Company, LLC | Associate General Counsel | Not disclosed | Alternative investment sponsor GC support; capital‑raising |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nelson Mullins Riley & Scarborough LLP | Partner; Co‑Chair, Securities Practice Group | Dec 2018–Jun 2023 | Public company advisory and transaction execution; leadership in securities practice |
| Troutman Sanders LLP; Baker Donelson | Associate | Not disclosed | Foundation in securities and corporate law |
| Griffin Capital Company, LLC | Associate General Counsel | Not disclosed | Real‑assets sponsor counsel; governance and capital markets |
Fixed Compensation
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Base Salary | Not disclosed | Retention payment equal to 100% of 2025 base salary (amount not disclosed) | Cash retention agreement executed Nov 6, 2025; repayment if terminated before Mar 31, 2026 by Company for Cause or by executive other than for Good Reason, per employment agreement definitions . |
| Target Bonus % | Not disclosed | Not disclosed | Compensation framework set by Compensation Committee for executives, but NEO details disclosed; Erin not a named executive officer in 2025 proxy . |
| Actual Bonus Paid | Not disclosed | Not disclosed | Not disclosed for Erin in proxy; applies to NEOs only . |
Performance Compensation
| Incentive Type | Grant Date | Amount | Performance Metric / Terms | Vesting | Expiration / End Date | Status |
|---|---|---|---|---|---|---|
| Employee Stock Options | Feb 16, 2024 | 67,500 options | Exercise price $6.96 per share | Vests in 4 equal annual installments beginning Feb 16, 2025 | Feb 16, 2034 | Outstanding |
| Performance Stock Units (PSUs) | Feb 16, 2024 | 22,500 PSUs | Vest in full if daily VWAP ≥ $18.00 for any 20 trading days within a 30‑day window | Performance‑based vest; no interim vesting | March 30, 2028 (performance window end) | Outstanding |
| Employee Stock Options | Jan 22, 2025 | 67,500 options | Exercise price $4.42 per share | Vests in 4 equal annual installments beginning Jan 22, 2026 | Jan 22, 2035 | Outstanding |
| Performance Stock Units (PSUs) | Jan 22, 2025 | 22,500 PSUs | Vest in full if daily VWAP ≥ $13.50 for any 20 trading days within a 30‑day window | Performance‑based vest; no interim vesting | March 31, 2029 (performance window end) | Outstanding |
Notes:
- Option vesting schedules are four equal annual tranches; PSUs are cliff vesting contingent on stock price VWAP hurdles .
- Grants are consistent with UHG’s executive compensation frameworks using time‑based options and performance‑based PSUs .
Equity Ownership & Alignment
- Insider policy prohibits hedging and pledging by officers, directors, employees, and consultants; executives may use Rule 10b5‑1 trading plans, enhancing alignment and reducing pledging risk .
- Reported derivative holdings (as of filings): 130,841 options at $10.55 (grant 07/10/2023, 4‑year ratable vesting) per amended Form 4/A; subsequent grants of 67,500 options and 22,500 PSUs in both 2024 and 2025 as detailed above .
Employment Terms
- Retention Agreement (Nov 6, 2025): Cash retention equal to 100% of 2025 base salary; pro‑rata after‑tax repayment obligation if employment ends before Mar 31, 2026 due to termination by Company for Cause or by executive other than for Good Reason (as defined in her employment agreement previously filed) .
- General framework: UHG executive Employment Agreements provide base salary, potential annual bonuses, and equity under the 2023 Plan; at‑will with termination for death/disability, cause, or by executive for good reason; change‑in‑control terms include potential acceleration of equity awards (specific severance multiples disclosed for certain NEOs—not specifically for Erin) .
Company Performance Context During Tenure
| Metric ($ thousands except per share) | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Revenue, net | $118,644 | $90,794 | $328,902 | $283,301 |
| Gross profit | $22,383 | $16,048 | $58,055 | $50,095 |
| Net (loss) income | $(7,339) | $(31,295) | $46,239 | $(19,456) |
| Diluted EPS | $(0.15) | $(0.53) | $0.86 | $(0.33) |
Risk Indicators & Red Flags (Governance Context)
- Board/leadership turbulence in late 2025: multiple director resignations; management instituted retention payments for CEO, CFO, and General Counsel to mitigate continuity risk .
- Insider policy forbids hedging and pledging—reduces alignment risk associated with collateralized shares .
Expertise & Qualifications
- Education: JD, University of Georgia School of Law; BA, Political Science, University of Georgia .
- Technical/Domain: Extensive SEC reporting, compliance, corporate governance, and capital‑raising experience; prior roles in law firms and as Associate GC at Griffin Capital .
- Role at UHG: General Counsel and Corporate Secretary since July 2023; serves as designated proxyholder with CFO for shareholder voting processes .
Investment Implications
- Alignment and incentives: Erin’s equity mix is heavily performance‑linked via PSUs with absolute share price hurdles ($18.00 by Mar 30, 2028 and $13.50 by Mar 31, 2029), creating high sensitivity to TSR and share price trajectory; time‑based options add retention value via multi‑year vesting .
- Near‑term retention signal: The Nov 2025 cash retention payment equal to base salary across senior leadership indicates perceived retention risk amid board transitions; repayment terms (Cause/Good Reason) and the Mar 31, 2026 date create incentives to remain through strategic stabilization .
- Selling pressure considerations: Option vesting schedules beginning in 2025 and 2026 and potential PSU vest triggers could create episodic selling windows; however, hedging/pledging prohibitions and 10b5‑1 plan usage reduce misalignment risks .
- Execution risk backdrop: 2025 financials show revenue and gross profit pressure and net losses, raising the hurdle for PSU vesting tied to sustained price performance; legal and governance continuity from GC role supports disclosure quality and lender/counterparty negotiations during transition .