Tue, Apr 29, 8:34 PM (16 days ago)
**Landsea Homes Corporation (LSEA) 10-K/A Summary** **Financial Performance (2024):** - Revenue: $1,550.337 million - Net Income: $18,534 thousand - Operating Expenses: Not explicitly stated - Earnings Per Share: Not explicitly stated **Executive Compensation:** - CEO John Ho: $3,916,782 - President/COO Michael Forsum: $3,912,500 - CFO Christopher Porter: $1,152,176 **Strategic Overview:** - Landsea Homes Corporation (LSEA) is a homebuilding company that went public through a business combination with LF Capital Acquisition Corp. - The company focuses on the domestic homebuilding business and has strategic agreements with related parties, including Landsea Holdings. **Future Outlook:** - The company aims to grow its revenue and adjusted earnings per share (EPS). - It has a long-term incentive compensation program that aligns executive performance with shareholder value. **Risk Factors:** - The company faces risks related to legal, regulatory, and capital markets matters. - It also faces risks associated with its financial statements, financial reporting processes, compliance, business conduct, ethics, and information technology and cybersecurity. **Financial Condition:** - The company had an aggregate market value of approximately $169.5 million based on the closing sale price as reported on The Nasdaq Capital Market as of June 30, 2024. - There were 36,409,560 shares of the company's common stock issued and outstanding as of the close of business on April 24, 2025. **Market Position Changes:** - The company is no longer a "controlled company" under Nasdaq listing rules, which has implications for its board composition and governance. - The company has entered into various agreements with related parties, including Landsea Holdings, which has a significant ownership stake in the company. **Changes Made in the Amendment:** - The amendment includes information previously omitted from the Original Form 10-K, such as details about the company's directors, executive officers, and corporate governance. - The amendment also includes updated certifications from the company's principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.