PORTER CHRISTOPHER T. - 08 Apr 2024 Form 4 Insider Report for Landsea Homes Corp (LSEA)

Signature
/s/ Kelly Rentzel, Attorney-in-fact for Christopher T. Porter
Issuer symbol
LSEA
Transactions as of
08 Apr 2024
Net transactions value
-$28,907
Form type
4
Filing time
11 Apr 2024, 14:48:05 UTC
Previous filing
28 Jul 2023
Next filing
05 Aug 2024

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 $28,907 -2,154 -2.9% $13.42 72,929 08 Apr 2024 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the vesting and settlement of restricted stock units ("RSUs") previously granted under the Landsea Homes Corporation 2020 Stock Incentive Plan (the "2020 Plan") on April 6, 2022 and July 26, 2023, the Issuer withheld shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock") to satisfy its tax withholding obligations. The number of shares withheld was based on the closing price per share on April 5, 2024. The withholding of vested shares was approved by the Board of Directors of the Issuer.
F2 Includes (i) 4,673 RSUs previously granted under the 2020 Plan that will vest on April 6, 2025 and (ii) 8,356 RSUs previously granted under the 2020 Plan that will vest as to one-half on each of April 6, 2025 and April 6, 2026 so long as the Reporting Person remains continuously providing services to the Issuer or its subsidiaries through such vesting date. Each RSU represents the right to receive one share of Common Stock.

Remarks:

Exhibit 24 - Power of Attorney