Jeffrey Habersetzer - May 26, 2023 Form 4 Insider Report for Harbor Custom Development, Inc. (HCDI)

Role: COO/Secretary
Signature: /s/ Jeffrey Habersetzer
Stock symbol: HCDI
Transactions as of: May 26, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/31/2023, 05:17 PM
Previous filing: Jun 9, 2022
Next filing: Jun 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCDI	Common Stock, no par value	Options Exercise		+583	+50.09%		1.75K	May 26, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HCDI	Restricted Stock Units	Options Exercise		-583	-33.31%		1.17K	May 26, 2023	Common Stock, no par value	583		Direct	F1, F2, F3
holding	HCDI	Stock Options						6.45K	May 26, 2023	Common Stock, no par value	6.45K		Direct	F4

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents the right to receive, at settlement, one share of common stock. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.
F2	On May 26, 2022, Mr. Habersetzer was granted 1,750 shares of common stock pursuant to the 2020 Restricted Stock Plan, whereby 1/3 of the shares of common stock vest on each anniversary until May 26, 2025, contingent on Mr. Habersetzer's continued employment through each applicable vesting date.
F3	Represents the total number of unvested common stock granted to Mr. Habersetzer pursuant to the 2020 Restricted Stock Plan.
F4	Mr. Habersetzer was granted 451 stock options with an exercise price of $7.99 on December 19, 2019. These stock options are fully vested and have an expiration date of December 19, 2029, subject to Mr. Habersetzer continuing to be an employee of the Company. Mr. Habersetzer was granted 1,000 stock options with an exercise price of $130.00 on September 1, 2020. These stock options are fully vested and have an expiration date of September 1, 2030, subject to Mr. Habersetzer continuing to be an employee of the Company. Mr. Habersetzer was granted 5,000 stock options with an exercise price of $65.00 on June 28, 2021. One twenty-fourth of the shares subject to this option vest each month and they have an expiration date of June 28, 2031, subject to Mr. Habersetzer continuing to be an employee of the Company.