Brown Lance 4
4 · Harbor Custom Development, Inc. · Filed May 31, 2023
Insider Transaction Report
Form 4
Brown Lance
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock, no par value
2023-05-26+583→ 3,559 total - Exercise/Conversion
Restricted Stock Units
2023-05-26−583→ 3,667 total→ Common Stock, no par value (583 underlying) - Tax Payment
Common Stock, no par value
2023-05-26$3.96/sh−206$816→ 3,353 total
Footnotes (4)
- [F1]Each restricted stock unit represents the right to receive, at settlement, one share of common stock. This transaction represents the settlement of restricted stock units in shares of common stock on their scheduled vesting date.
- [F2]Represents shares of common stock withheld by the Issuer to pay tax withholding obligations of the Reporting Person for the previously granted common stock pursuant to the Issuer's 2020 Restricted Stock Plan on May 26, 2022.
- [F3]On November 8, 2021, Mr. Brown was granted 5,000 shares of common stock pursuant to the 2020 Restricted Stock Plan, 1/3 of which vested on November 8, 2022, and the remaining vest in eight equal installments every three months thereafter until November 8, 2024, contingent on Mr. Brown's continued employment through each applicable vesting date. On May 26, 2022, Mr. Brown was granted 1,750 shares of common stock pursuant to the 2020 Restricted Stock Plan, whereby 1/3 of the shares of common stock vest on each anniversary until May 26, 2025, contingent on Mr. Brown's continued employment through each applicable vesting date.
- [F4]Represents the total number of unvested common stock granted to Mr. Brown pursuant to the 2020 Restricted Stock Plan.