Sheryl Palmer - Feb 20, 2023 Form 4 Insider Report for Taylor Morrison Home Corp (TMHC)

Role: Chairman, President and CEO, Director
Signature: /s/ Darrell Sherman, as Attorney-in-Fact
Stock symbol: TMHC
Transactions as of: Feb 20, 2023
Transactions value $: -$1,695,669
Form type: 4
Date filed: 2/22/2023, 08:07 PM
Previous filing: Feb 21, 2023
Next filing: Feb 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TMHC	Common Stock	Award	$0	+110K	+32.77%	$0.00	447K	Feb 20, 2023	Direct	F1
transaction	TMHC	Common Stock	Tax liability	-$1.7M	-47.3K	-10.58%	$35.85	400K	Feb 20, 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TMHC	Performance-based restricted stock units	Award		+110K			110K	Feb 20, 2023	Common Stock	110K		Direct	F3
transaction	TMHC	Performance-based restricted stock units	Options Exercise		-110K	-100%		0	Feb 20, 2023	Common Stock	110K		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the vesting and settlement of performance-based vesting restricted stock units ("PSUs") granted by the Issuer on February 10, 2020, under Issuer's 2013 Omnibus Equity Award Plan, as amended. Upon vesting, each PSU is settled in a share of the Issuer's Common Stock.
F2	Represents shares of Common Stock withheld by the Issuer to cover tax withholding obligations upon the vesting of PSUs.
F3	On February 10, 2020, the Reporting Person received a grant of PSUs representing 110,382 shares of the Issuer's Common Stock (at target), half of which vest based on the Issuer's earnings before taxes ("EBT") and a relative total shareholder return modifier, and half of which vest based on the Company's EBT margin and a relative total shareholder return modifier. The PSUs cliff vest at the end of a three year performance cycle, generally subject to the Reporting Person's continued employment through the date the compensation committee determines and certifies the applicable level of performance achieved for the fiscal 2022 tranche. The compensation committee determined that the objectives for the fiscal 2022 tranche were achieved at a level resulting in 110,382 PSUs being earned by the Reporting Person on February 20, 2023, subject to satisfaction of the vesting conditions for such grant.