{"schema_version":"secwatch.filing_event.v1","accession":"0001578732-23-000017","form_type":"8-K","ticker":"MMI","cik":"0001578732","company_name":"Marcus & Millichap, Inc.","filed_at":"2023-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.492484+00:00","generated_at":"2026-06-15T16:45:28.796930+00:00","sec_items":["2.02","5.07","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Marcus & Millichap posts Q1 net loss of $0.15 per share; revenue down 51.5%","bullets":["Total revenue $154.8M, down 51.5% from record Q1 2022; net loss of $5.8M vs net income $32.8M.","Brokerage commissions $135.0M, down 52.9%; Private Client revenue -43.8%, Middle Market -67.1%.","Financing fees $15.9M, down 40.0%; adjusted EBITDA -$7.4M vs +$51.9M in prior year.","Board added $70M to share repurchase authorization, leaving ~$80M available; semi-annual dividend $0.25 per share."],"urls":{"canonical":"https://secwatch.observer/filing/0001578732-23-000017","json":"https://secwatch.observer/filing/0001578732-23-000017.json","markdown":"https://secwatch.observer/filing/0001578732-23-000017.md","text":"https://secwatch.observer/filing/0001578732-23-000017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/mmi-20230505.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T16:45:28.796930+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7d2c7fabc28c3b2831897e7da041c38dccbd155d","claim":"Marcus & Millichap, Inc. reported first quarter ended March 31, 2023 results: revenue $154.8 million, net income Net loss was $5.8 million, or $0.15 per common share, diluted, EPS $0.15 per common share, diluted.","evidence_excerpt":"sales, financing, research and advisory services, today reported its first quarter results. First Quarter 2023 Highlights Compared to First Quarter 2022 • Total revenue of $154.8 million decreased 51.5%, a tough comparable to a record first quarter 2022 where revenue was up 73.6% compared to first quarter 2021 • Brokerage commissions of $135.0 million, decreased","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$154.8 million"},{"label":"Net income","value":"Net loss was $5.8 million, or $0.15 per common share, diluted"},{"label":"EPS","value":"$0.15 per common share, diluted"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"7ddf348411bd5bec0cdab5b771284d7a93054939","claim":"Marcus & Millichap, Inc. shareholders approved Election of Directors at the 2023-05-02 meeting.","evidence_excerpt":"The following individuals were elected to serve as directors for a three-year term ending with the 2026 Annual Meeting by the votes shown below: For Withheld Broker Non-Votes Hessam Nadji 35,357,703 1,561,352 522,024 Norma J. Lawrence 34,689,172 2,229,883 522,024","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm","confidence":1.0,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-05-02"}],"fact_type":"shareholder_vote"},{"claim_id":"b1efed4682196fd0683b34e06da89854cf7cc710","claim":"Marcus & Millichap, Inc. shareholders approved Advisory Vote on Executive Compensation at the 2023-05-02 meeting.","evidence_excerpt":"Proposal 3: Advisory Vote on Executive Compensation The non-binding resolution regarding the compensation paid to the Company’s named executive officers (the “ say-on-pay vote ”) was approved by the votes shown below: For Against Abstain Broker Non-Votes 34,190,487 2,714,380 14,188 522,024","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm","confidence":1.0,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-05-02"}],"fact_type":"shareholder_vote"},{"claim_id":"f6e184452d39802b31032635751063f2c9a10d55","claim":"Marcus & Millichap, Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm for 2023 at the 2023-05-02 meeting.","evidence_excerpt":"Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm for 2023 The appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2023 was ratified by the votes shown below: For Against Abstain Broker Non-Votes(1) 37,380,502 47,224 13,353 0","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm","confidence":1.0,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"auditor ratification"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-05-02"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}