Landsea Homes Corp.

04/08/2025 | Press release | Distributed by Public on 04/08/2025 19:45

Statement of Changes in Beneficial Ownership (Form 4)

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PORTER CHRISTOPHER T
2. Issuer Name and Ticker or Trading Symbol
Landsea Homes Corp [LSEA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last) (First) (Middle)
C/O LANDSEA HOMES CORPORATION, 1717 MCKINNEY AVENUE, SUITE 1000
3. Date of Earliest Transaction (Month/Day/Year)
04/06/2025
(Street)
DALLAS, TX 75202
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.0001 04/06/2025 F 2,154(1) D $6.25 106,031(2) D
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PORTER CHRISTOPHER T
C/O LANDSEA HOMES CORPORATION
1717 MCKINNEY AVENUE, SUITE 1000
DALLAS, TX 75202
Chief Financial Officer

Signatures

/s/ Kelly Rentzel, Attorney-in-fact for Christopher T Porter 04/08/2025
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 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 4, 2025. The withholding of vested shares was approved by the Board of Directors of the Issuer.
(2) Includes (i) 4,178 RSUs previously granted under the 2020 Plan that will vest on April 6, 2026, (ii) 11,160 RSUs previously granted under the 2020 Plan that will vest as to one-third on each of July 30, 2025, July 30, 2026, and July 30, 2027, and (iii) 24,096 RSUs previously granted under the 2020 Plan that will vest as to one-third on each of February 26, 2026, February 26, 2027, and February 26, 2028, 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.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.