Darrell Sherman - Feb 20, 2023 Form 4 Insider Report for Taylor Morrison Home Corp (TMHC)

Signature
/s/ Darrell Sherman
Stock symbol
TMHC
Transactions as of
Feb 20, 2023
Transactions value $
-$252,563
Form type
4
Date filed
2/22/2023, 08:09 PM
Previous filing
Feb 21, 2023
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TMHC Common Stock Award $0 +21K +19.85% $0.00 127K Feb 20, 2023 Direct F1
transaction TMHC Common Stock Tax liability -$253K -7.05K -5.56% $35.85 120K Feb 20, 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TMHC Performance-based restricted stock units Award +21K 21K Feb 20, 2023 Common Stock 21K Direct F3
transaction TMHC Performance-based restricted stock units Options Exercise -21K -100% 0 Feb 20, 2023 Common Stock 21K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting and settlement of performance-based vesting restricted stock units ("PSUs") granted by the Issuer on February 10, 2020, under Issuer's 2013 Omnibus Equity Award Plan, as amended. Upon vesting, each PSU is settled in a share of the Issuer's Common Stock.
F2 Represents shares of Common Stock withheld by the Issuer to cover tax withholding obligations upon the vesting of PSUs.
F3 On February 10, 2020, the Reporting Person received a grant of PSUs representing 20,973 shares of the Issuer's Common Stock (at target), half of which vest based on the Issuer's earnings before taxes ("EBT") and a relative total shareholder return modifier, and half of which vest based on the Company's EBT margin and a relative total shareholder return modifier. The PSUs cliff vest at the end of a three year performance cycle, generally subject to the Reporting Person's continued employment through the date the compensation committee determines and certifies the applicable level of performance achieved for the fiscal 2022 tranche. The compensation committee determined that the objectives for the fiscal 2022 tranche were achieved at a level resulting in 20,973 PSUs being earned by the Reporting Person on February 20, 2023, subject to satisfaction of the vesting conditions for such grant.