SEC Form 4 · accession 0000833079-15-000020
Meritage Homes CORP · MTH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
C Timothy White
Officer — EVP - Gen. Counsel, Secretary
Period of report
Feb 11, 2015
Accepted (ET)
Feb 12, 2015 · 6:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000833079
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| MTH Common StockF1,F2 | Feb 11, 2015 | S | 11,297 | $39.67 | D | 29,149 | D | |
| MTH Common SharesF3,F4 | Feb 11, 2015 | A | 10,556 | $0.00 | A | 32,376 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF5 | $0.00 | Feb 11, 2015 | A | 6,334 | A | — | Feb 11, 2018 | MTH Common Shares | 6,334 | 6,334 | D |
Explanation of responses
- F1Represents sale of shares to cover required tax withholdings under a 10b5-1 plan.
- F2Balance reflects all other holdings, including restricted shares that have previously vested.
- F3Represents grant of restricted share units. The shares will fully vest on the third anniversary of the date of grant.
- F4Balance represents restricted shares and restricted share units not vested.
- F5Each performance award represents a contingent right to receive one share of MTH common stock. The performance awards vest upon MTH's common stock achieving a three-year total shareholder return relative to the Company's peer group, as determined by the Company and its compensation committee. The number of derivative securities and underlying securities is based on the maximum amount of shares that may be earned under the performance awards. The actual performance awards issued may range from 0 shares to the maximum noted above.