Departure of Directors or Certain



of 2020 Bonuses


On February 10, 2021, the Board of Directors of Landsea
Homes Corporation (the “Company”) approved the 2020 bonus awards for John Ho and Michael Forsum, two of the
Company’s named executive officers. The named executive officers’ other compensation for 2020 was previously
reported by the Company in the Summary Compensation Table included in the Company’s Registration Statement on Form S-1
(File No. 333-252569), initially filed with the Securities and Exchange Commission on January 29, 2021 (the
“Registration Statement”). As of the date of the most recent amendment to the Registration Statement, bonuses for
fiscal year 2020 could not be determined and, therefore, were omitted from the Su mmary Compensation Table in the Registration
Statement. In accordance with Item 5.02(f), the total bonuses for 2020, which are considered non-equity incentive plan
compensation, were $500,000 for Mr. Ho and $750,000 for Mr. Forsum, resulting in total compensation for 2020 of $1,421,833
for Mr. Ho and $1,618,375 for Mr. Forsum.









Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.























Date: February 17, 2021








/s/ Franco Tenerelli









Name: Franco Tenerelli









Title: EVP, Chief Legal Officer and Secretary






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