Form 4: Landsea Homes COO Michael Forsum Reports Stock Transactions
SEC Form 4 Filing
Michael Forsum, President and COO of Landsea Homes Corp, reports acquisition and disposal of common stock related to performance share units and tax withholding.
Summary
- Michael Forsum, the President and COO of Landsea Homes Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On March 28, 2024, Forsum acquired 14,894 shares of common stock related to the vesting of performance share units (PSUs) at 50% achievement.
- These PSUs were granted on April 19, 2022, under the company's 2020 Stock Incentive Plan, with each PSU representing the right to receive one share of common stock.
- On April 1, 2024, 6,553 shares were disposed of to satisfy tax withholding obligations related to the PSU settlement at a price of $14.53 per share.
- Following these transactions, Forsum beneficially owns 427,015 shares, including restricted stock units (RSUs) that will vest on March 15, 2025 (62,155 shares) and April 19, 2024 (19,858 shares).
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an executive, with no inherent positive or negative sentiment. It reflects routine compensation and tax-related activities.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates transactions related to previously granted equity compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/19/2022 | Date of grant for the performance share units (PSUs) under the 2020 Stock Incentive Plan. |
| 03/28/2024 | Date of acquisition of 14,894 shares of common stock due to PSU vesting. |
| 04/01/2024 | Date of disposal of 6,553 shares for tax withholding obligations and date of filing. |
| 04/19/2024 | Vesting date for 19,858 restricted stock units (RSUs). |
| 03/15/2025 | Vesting date for 62,155 restricted stock units (RSUs). |
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