Michael Forsum - Apr 19, 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: Apr 19, 2023
Transactions value $: -$54,277
Form type: 4
Date filed: 4/21/2023, 06:11 PM
Previous filing: Mar 16, 2023
Next filing: Jun 14, 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	-$54.3K	-8.8K	-2.07%	$6.17	416K	Apr 19, 2023	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, 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 April 19, 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) 19,858 RSUs previously granted under the 2020 Plan that will vest on 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, 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 April 19, 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) 19,858 RSUs previously granted under the 2020 Plan that will vest on April 19, 2024. Each RSU represents the right to receive one share of Common Stock.