SEC Form 4 · accession 0000833079-15-000023
Meritage Homes CORP · MTH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Larry Wayne Seay
Officer — Executive VP - CFO
Period of report
Feb 10, 2015
Accepted (ET)
Feb 12, 2015 · 6:25 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 | Feb 10, 2015 | A | 12,500 | $0.00 | A | 90,231 | D | |
| MTH Common StockF2,F3 | Feb 11, 2015 | S | 11,978 | $39.67 | D | 78,253 | D | |
| MTH Common SharesF4,F5 | Feb 11, 2015 | A | 11,177 | $0.00 | A | 33,545 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF6 | $0.00 | Feb 11, 2015 | A | 6,706 | A | — | Feb 11, 2018 | MTH Common Shares | 6,706 | 6,706 | D |
Explanation of responses
- F1Represents vesting of restricted stock upon achievement of pre-specified performance targets
- F2Represents sale of shares to cover required tax withholdings under a 10b5-1 plan.
- F3Balance reflects all other holdings, including restricted shares that have previously vested.
- F4Represents grant of restricted share units. The shares will fully vest on the third anniversary of the date of grant.
- F5Balance represents restricted shares and restricted share units not vested.
- F6Each 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.