[Form 4] Landsea Homes Corporation Warrant Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing – Landsea Homes Corporation (LSEA)

Director Bruce D. Frank disclosed a single disposition on 06/24/2025. He tendered 48,405 common shares to Lido Merger Sub, Inc. at $11.30 per share (Transaction Code “U”). Following the transaction, the filing shows 0 shares remaining under his beneficial ownership, indicating a complete exit of his direct stake.

No derivative securities were reported and no 10b5-1 plan was indicated. The filing states only that the shares were surrendered in connection with the tender offer; additional merger terms are not provided.

• Insider role: Director
• Gross value tendered: ≈ $546,977 (48,405 × $11.30)

Positive

• Clear disclosure of $11.30 cash consideration gives investors a reference price for the merger-related tender offer, providing transparency on deal economics.

Negative

• Director’s beneficial ownership drops to zero, reducing insider equity alignment with remaining shareholders.

Insights

Securities Analyst

TL;DR – Director tenders 48k LSEA shares at $11.30; insider ownership now zero; merger-driven, market impact neutral.

The Form 4 shows Bruce D. Frank, a board member, disposed of his entire 48,405-share position via a tender to Lido Merger Sub at $11.30. Transaction Code “U” denotes corporate action rather than discretionary trading, so it provides limited insight into operating outlook or valuation. Nonetheless, the price signals the cash consideration being offered in the pending deal. With the director’s stake now eliminated, ongoing insider alignment with minority holders diminishes, but because the sale reflects the merger mechanics rather than sentiment, I view the filing as informational and broadly neutral to the trading thesis.

M&A Specialist

TL;DR – Tender confirms merger execution step; cash price disclosed, modest standalone impact.

The disclosed $11.30 tender suggests the acquisition structure is advancing toward close. While the filing confirms consideration per share and insider participation, it offers no new details on conditions, timing, or premium. From an M&A perspective, the event is procedural; therefore, the update is noteworthy but not independently value-moving.

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^*

FRANK BRUCE D

(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		48,405(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 Bruce Frank	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 Bruce D. Frank report in the June 24 2025 Form 4 for LSEA?

He reported disposing of 48,405 common shares via tender to Lido Merger Sub, Inc. at $11.30 per share.

How many Landsea Homes shares were tendered and at what price?

A total of 48,405 shares were tendered at $11.30 each.

Does the filing include any derivative security transactions?

No. Table II shows no derivative securities were acquired or disposed of.

How many shares does the director own after the reported transaction?

The filing lists 0 shares beneficially owned following the transaction.

What does Transaction Code "U" signify in this Form 4?

Code "U" indicates a disposition pursuant to a tender or exchange offer connected to a corporate action.