John Ho - Mar 1, 2022 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Role
Chief Executive Officer, Director
Signature
/s/ Franco Tenerelli, Attorney-in-fact for John Ho
Stock symbol
LSEA
Transactions as of
Mar 1, 2022
Transactions value $
-$211,255
Form type
4
Date filed
3/3/2022, 04:37 PM
Next filing
Mar 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LSEA Common Stock, par value $0.0001 Award $0 +66K +16.94% $0.00 455K Mar 1, 2022 Direct F1
transaction LSEA Common Stock, par value $0.0001 Tax liability -$211K -32.7K -7.18% $6.46 423K Mar 2, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock"), received upon the vesting and settlement of the first tranche of the performance share units ("PSUs") granted on April 19, 2022 under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan"). The portion of the PSUs reported in this filing vested at 200% achievement.
F2 In connection with the vesting and settlement of the PSUs, the Issuer withheld shares of Common Stock to satisfy its tax withholding obligations. The number of shares withheld was based on the closing price per share on March 1, 2022. The withholding of vested shares was approved by the Board of the Directors of the Issuer.
F3 Includes (i) 207,182 restricted stock units ("RSUs") previously granted under the 2020 Plan that will vest as to 20% on each of March 15, 2022 and March 15, 2023 and as to 30% on each of March 15, 2024 and March 15, 2025 and (ii) 65,957 RSUs previously granted under the 2020 Plan that will vest as to one-third on each of April 19, 2022, April 19, 2023 and April 19, 2024. Each RSU represents the right to receive one share of Common Stock.