Pay vs Performance Disclosure - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Pay vs Performance Disclosure [Table]

Pay Versus Performance

As discussed in the “Executive Compensation” disclosures above, the Board and the Compensation Committee have implemented an executive compensation program designed to link a substantial portion of each executive’s realized compensation to the achievement of the Company’s performance objectives as well as to align realized compensation with changes in the value of stockholders’ investments. As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information regarding the compensation of our NEOs and the Company’s performance.

Year		Summary Compensation Table Total For CEO (1) ($)		Compensation Actually Paid To CEO (2) ($)		Average Summary Compensation Table Total For Non-CEO NEOs (3) ($)		Average Compensation Actually Paid to Non-CEO NEOs (4) ($)		Value of Initial Fixed $100 Investment Based on Total Shareholder Return (5) ($)		Net Income (6) ($ In Thousands)
	2024		3,916,782		3,046,325		2,532,338		1,986,615		79.94		18,534
	2023		2,512,652		3,621,182		1,907,638		2,527,876		123.73		32,650
	2022		6,459,924		1,584,072		3,949,907		1,417,792		49.06		75,665

_____________

(1)

Represents the amounts reported for Mr. Ho, our Chief Executive Officer (“CEO”), in the “Total” column of the Summary Compensation Table in each applicable year.

(2)

Represents the amount of “compensation actually paid” to Mr. Ho, as computed in accordance with SEC rules and does not reflect the actual amount of compensation earned by or paid to Mr. Ho during the applicable year. In accordance with SEC rules, the following adjustments were made to the total compensation for Mr. Ho set forth in the Summary Compensation Table for each year to calculate the compensation actually paid. Equity values used in calculating the adjustments values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. There were inadvertent computational errors in the equity award adjustments included in our 2023 proxy statement. As such, we have corrected such adjustments as shown below for 2022.

Adjustments	2024 ($)			2023 ($)			2022 ($)
Summary Compensation Table Total		3,916,782			2,512,652			6,459,924
Less, value of “Stock Awards” reported in Summary Compensation Table		(2,026,500	)		—			(4,210,000	)
Plus, year-end fair value of outstanding and unvested equity awards granted in the year		1,536,860			—			—
Plus, fair value as of the vesting date of equity awards granted and vested in the year		—			—			—
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years		(289,016	)		1,160,111			(581,672	)
Plus (less), change in fair value from prior year-end to vesting date of equity awards granted in prior years that vested in the year		(91,801	)		(51,581	)		(84,180	)
Compensation Actually Paid		3,046,325			3,621,182			1,584,072

(3)

Represents the average of the amounts reported for the NEOs as a group, excluding Mr. Ho as CEO, in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs included for these purposes in each applicable year are as follows: for 2024, 2023, and 2022, Messrs. Forsum and Porter.

(4)

Represents the average amount of “compensation actually paid” to the NEOs as a group, excluding Mr. Ho, as computed in accordance with SEC rules and does not reflect the actual amount of compensation earned by or paid during the applicable year. In accordance with SEC rules, the following adjustments were made to the average total compensation set forth in the Summary Compensation Table for each year to calculate the compensation actually paid. Equity values used in calculating the adjustments values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. There were inadvertent computational errors in the equity award adjustments included in our 2023 proxy statement. As such, we have corrected such adjustments as shown below for 2022.

Adjustments	2024 ($)			2023 ($)			2022($)
Summary Compensation Table Total		2,532,338			1,907,638			3,949,907
Less, value of “Stock Awards” reported in Summary Compensation Table		(1,182,882	)		(149,791	)		(2,252,548	)
Plus, year-end fair value of outstanding and unvested equity awards granted in the year		870,521			179,943			36,520
Plus, fair value as of the vesting date of equity awards granted and vested in the year		—			—			—
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years		(190,978	)		608,675			(279,614	)
Plus (less), change in fair value from prior year-end to vesting date of equity awards granted in prior years that vested in the year		(42,384	)		(18,589	)		(36,472	)
Compensation Actually Paid		1,986,615			2,527,876			1,417,792

(5)

Cumulative total shareholder return (TSR) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. The beginning of the measurement period for each year in the table is December 31, 2020.

(6)

Represents the amount of net income reflected in the Company’s audited financial statements for the applicable year.

Analysis of the Information Presented in the Pay Versus Performance Table

As described in more detail in “Executive Compensation” above, the Company’s executive compensation program reflects a variable pay-for-performance philosophy. While the Company utilizes several performance measures to align executive compensation with Company performance, all of those performance measures are not presented in the Pay Versus Performance table above. Moreover, the Company generally seeks to incentivize long-term performance, and therefore does not specifically align the Company’s performance measures with compensation that is actually paid (as computed in accordance with SEC rules) for a particular year. In accordance with SEC rules, the Company is providing the following descriptions of the relationships between information presented in the Pay Versus Performance table above.

Net Income (Loss)

$ 18,534

$ 32,650

$ 75,665

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Landsea Homes Corp 10-K/A