4/A: Landsea Homes Director Thomas Hartfield Files Amended Form 4, Disclosing Power of Attorney

Thomas Hartfield, a director of Landsea Homes Corporation, filed an amended Form 4 to include a previously omitted power of attorney document, while also reporting a purchase of 2,586 shares of common stock.

Summary

• Thomas Hartfield, a director of Landsea Homes Corporation, filed an amendment to a previously submitted Form 4.
• The amendment includes the power of attorney document that was inadvertently omitted in the original filing.
• The original filing reported that on March 8, 2024, Hartfield purchased 2,586 shares of Landsea Homes Corp common stock at $11.60 per share.
• This purchase was part of an underwritten public offering by Landsea Holdings Corporation, the issuer's largest stockholder.
• Hartfield directly owns 61,023 shares of common stock, which includes 13,540 restricted stock units (RSUs) granted under the Landsea Homes Corporation 2020 Stock Incentive Plan.
• The RSUs will vest on the earlier of June 21, 2024, or the Issuer's next annual meeting of stockholders, provided Hartfield remains continuously providing services to the Issuer or its subsidiaries through such vesting date.
• A power of attorney was executed on March 26, 2024, appointing C. Kelly Rentzel as attorney-in-fact to handle SEC filings on Hartfield's behalf.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Future Outlook

The vesting of RSUs is contingent on continued service through either June 21, 2024, or the next annual meeting of stockholders.

Industry Context

Form 4 filings are standard practice for company insiders (directors, officers, and principal stockholders) to report transactions in their company's stock, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the US.
• The details disclosed, such as the number of shares purchased and the price, are typical for this type of filing.
• Comparable companies would have similar filings from their directors and officers.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The power of attorney simplifies the process for future SEC filings.

Key Dates