Michael Forsum - Apr 25, 2022 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Role: President and COO, Director
Signature: /s/ Franco Tenerelli, Attorney-in-fact for Michael Forsum
Stock symbol: LSEA
Transactions as of: Apr 25, 2022
Transactions value $: -$73,815
Form type: 4
Date filed: 4/27/2022, 06:42 PM
Previous filing: Mar 15, 2022
Next filing: Mar 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LSEA	Common Stock, par value $0.0001	Tax liability	-$73.8K	-8.8K	-2.14%	$8.39	401K	Apr 25, 2022	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	19,858 restricted stock units ("RSUs") previously granted under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan") vested on April 19, 2022. In connection with the vesting and settlement of such RSUs, 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 April 22, 2022. The withholding of vested shares was approved by the Board of the Directors of the Issuer.
F2	Includes (i) 165,746 RSUs previously granted under the 2020 Plan, 41,436 of which will vest on March 15, 2023, 62,155 will vest on March 15, 2024 and the remaining 62,155 will vest on March 15, 2025 and (ii) 39,716 RSUs previously granted under the 2020 Plan that will vest as to one-half on each of April 19, 2023 and April 19, 2024. Each RSU represents the right to receive one share of Common Stock.

Content

19,858 restricted stock units ("RSUs") previously granted under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan") vested on April 19, 2022. In connection with the vesting and settlement of such RSUs, 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 April 22, 2022. The withholding of vested shares was approved by the Board of the Directors of the Issuer.

Includes (i) 165,746 RSUs previously granted under the 2020 Plan, 41,436 of which will vest on March 15, 2023, 62,155 will vest on March 15, 2024 and the remaining 62,155 will vest on March 15, 2025 and (ii) 39,716 RSUs previously granted under the 2020 Plan that will vest as to one-half on each of April 19, 2023 and April 19, 2024. Each RSU represents the right to receive one share of Common Stock.