Michael Forsum - Mar 15, 2023 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Role: President and COO
Signature: /s/ Franco Tenerelli, Attorney-in-fact for Michael Forsum
Stock symbol: LSEA
Transactions as of: Mar 15, 2023
Transactions value $: -$119,681
Form type: 4
Date filed: 3/16/2023, 07:26 PM
Previous filing: Mar 3, 2023
Next filing: Apr 21, 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	-$120K	-18.4K	-4.14%	$6.52	425K	Mar 15, 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	41,437 restricted stock units ("RSUs") previously granted under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan") vested on March 15, 2023. 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 March 15, 2023. The withholding of vested shares was approved by the Board of the Directors of the Issuer.
F2	Includes (i) 124,309 RSUs previously granted under the 2020 Plan that will vest as to one-half on each of March 15, 2024 and 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

41,437 restricted stock units ("RSUs") previously granted under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan") vested on March 15, 2023. 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 March 15, 2023. The withholding of vested shares was approved by the Board of the Directors of the Issuer.

Includes (i) 124,309 RSUs previously granted under the 2020 Plan that will vest as to one-half on each of March 15, 2024 and 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.