Jeffrey Habersetzer - Jun 13, 2023 Form 4 Insider Report for Harbor Custom Development, Inc. (HCDI)

Role
COO/Secretary
Signature
/s/ Jeffrey Habersetzer
Stock symbol
HCDI
Transactions as of
Jun 13, 2023
Transactions value $
$0
Form type
4
Date filed
6/15/2023, 01:17 PM
Previous filing
May 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HCDI Common Stock, no par value 1.75K Jun 13, 2023 Direct

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 Stock Options Award +75K +1162.61% 81.5K Jun 13, 2023 Common Stock, no par value 75K Direct F1, F2
holding HCDI Restricted Stock Units 1.17K Jun 13, 2023 Common Stock, no par value 1.17K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 On June 13, 2023, Mr. Habersetzer was granted 75,000 stock options with an exercise price of $3.73. One half of the shares subject to this option shall vest upon the filing of the Company's next Form 10-K with the U.S. Securities and Exchange Commission, with the remainder to vest in equal proportions upon the first and second anniversary of said filing, subject to Mr. Habersetzer continuing to be an employee through such date. These stock options will have an expiration date of June 13, 2033.
F3 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.
F4 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.
F5 Represents the total number of unvested common stock granted to Mr. Habersetzer pursuant to the 2020 Restricted Stock Plan.