[Form 4] Landsea Homes Corporation Warrant Insider Trading Activity

Rhea-AI Filing Summary

Landsea Homes Corporation (LSEA) – Form 4 insider transaction

Director Elias Farhat reported the disposition of 272,685 shares of Landsea Homes Corporation common stock on 24 June 2025. The disposal was coded “U,” indicating the shares were tendered rather than sold on the open market. According to the footnote, the shares were tendered to Lido Merger Sub, Inc., a wholly-owned subsidiary of Lido Holdco, Inc., at a fixed consideration of $11.30 per share.

Following the transaction, Farhat’s beneficial ownership fell to zero, meaning he no longer holds Landsea Homes common stock directly or indirectly. No derivative securities activity was reported in Table II. The filing was signed by attorney-in-fact Kelly Rentzel on 25 June 2025 and reflects the requirements of Section 16 of the Exchange Act.

Key takeaways for investors

• Sizeable tender: 272,685 shares equate to a cash value of roughly $3.08 million (272,685 × $11.30).
• Complete exit: The director’s post-transaction ownership is 0 shares, eliminating insider alignment through equity.
• M&A context: The counter-party is a merger subsidiary, signalling an ongoing corporate transaction at a set purchase price of $11.30.

No earnings data, warrants, or other financial metrics were included in this Form 4.

Positive

• None.

Negative

• Director no longer holds any shares, potentially reducing insider alignment with public shareholders.
• Large disposition of 272,685 shares may be interpreted as an exit signal absent broader merger context.

Insights

Financial Analyst

TL;DR Insider director tendered all shares at $11.30, exiting position.

The filing discloses that Director Elias Farhat tendered 272,685 common shares to Lido Merger Sub for $11.30 each, realising approximately $3.1 million in proceeds and leaving him with no residual stake. From a governance and signalling viewpoint, a full divestiture often removes insider alignment with minority shareholders and can be perceived negatively. However, because the transaction is tied to a tender in a merger context (code U), it appears mechanically driven rather than discretionary selling pressure. Absent additional merger documentation, the filing is largely informational and does not alter the company’s fundamental outlook.

M&A Specialist

TL;DR Tender supports progression of pending Lido merger at $11.30.

Code “U” and the footnote confirm the shares were surrendered to a merger vehicle, suggesting Landsea’s takeover process is advancing. Directors typically must participate to satisfy minimum tender conditions, so this action can be interpreted as constructive for deal closing. The $11.30 consideration provides a reference valuation and implies cash certainty for stakeholders. Nevertheless, completion risk remains until definitive closing disclosures are filed.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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
Estimated average burden
hours per response:			0.5

X

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 for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Farhat Elias

(Last) (First) (Middle)

C/O LANDSEA HOMES CORPORATION

1717 MCKINNEY AVENUE, SUITE 1000

(Street)

DALLAS TX 75202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Landsea Homes Corp [ LSEA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

4. If Amendment, Date of 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

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	06/24/2025		U		272,685(1)	D	$11.3	0	D

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 Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. Represents securities tendered to Lido Merger Sub, Inc., a wholly owned, direct subsidiary of Lido Holdco, Inc., at a price of $11.30 per share.

	/s/ Kelly Rentzel, Attorney-in-fact for Elias Farhat	06/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Director Elias Farhat report in the Landsea Homes (LSEA) Form 4?

He tendered 272,685 common shares to Lido Merger Sub at $11.30 per share, reducing his ownership to zero.

When did the insider transaction occur?

The tender occurred on June 24, 2025 and was filed on June 25, 2025.

What transaction code was used and what does it mean?

Code U indicates shares were tendered or exchanged in connection with a merger or similar corporate action, not an open-market sale.

How much cash value does the tender represent?

Approximately $3.08 million (272,685 shares × $11.30 per share).

Does the Form 4 list any derivative securities activity?

No. Table II shows no options, warrants, or other derivatives acquired or disposed.