FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Meritage Homes CORP [ MTH ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/30/2009 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 6,000 | I | Penny Sarver (wife)(1) | |||||||
Common Stock | 2,000 | I | Penny Sarver, custodian FBO Max Sarver (minor son)(1) | |||||||
Common Stock | 4,400 | I | Robert Sarver, trustee of the Eva Lauren Hilton Trust(1) | |||||||
Common Stock | 4,400 | I | Robert Sarver, trustee of the Shari Rachel Hilton Trust(1) | |||||||
Common Stock | 8,000(2) | D | ||||||||
Common Stock | 14,000(3) | D | ||||||||
Common Stock | 1,000,000 | I | See note.(4) | |||||||
Common Stock | 07/30/2009 | S | 20,700 | D | $21.9969(5) | 453,300(6) | I | Robert Sarver, Trustee of the Robert Sarver Trust | ||
Common Stock | 07/30/2009 | S | 12,300 | D | $22.4345(7) | 44,100(6) | I | Robert Sarver, Trustee of the Robert Sarver Trust |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (right to buy) | $31.31(8) | (9) | 05/12/2011 | Common Stock | 10,000(8) | 10,000 | D | ||||||||
Stock Option (right to buy) | $42.82 | (10) | 01/28/2014 | Common Stock | 4,000 | 4,000 | D | ||||||||
Stock Option (right to buy) | $15.98 | (11) | 12/10/2014 | Common Stock | 7,500 | 7,500 | D |
Explanation of Responses: |
1. Mr. Sarver disclaims any beneficial or pecuniary ownership of these shares. |
2. Restricted stock granted 1/29/2007; vesting in equal installments on 1/29/2009 and 1/29/2010. |
3. Restricted stock granted 2/11/2009; vesting 2,000 shares on 2/11/2010 and 6,000 shares each on 2/11/2011 and 2/11/2012. |
4. These represent shares purchased by Southwest Value Partners Fund XIV, LP. Mr. Sarver indirectly shares control over the voting, purchase and disposition of these shares. He disclaims any direct pecuniary interest in such shares and has only an indirect beneficial or pecuniary interest in them. |
5. This is a weighted average of the sale prices. The actual sale prices varied from $21.402666 per share to $22.40 per share. Full information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff, the issuer or a security holder of the issuer. |
6. Mr. Sarver's holdings of MTH common stock were overstated on the May 27, 2009 Form 4 by 21,750 shares. The corrected balances are reflected on this Form 4. |
7. This is a weighted average of the sale price. The actual sale price for these shares varied from $22.4027 to $22.50 per shares. Full information regarding the number of shares sold at each separate price will be provided upon request by the Commission staff, the issuer or a security holder of the issuer. |
8. Adjusted for a 2:1 stock split in 2005. |
9. Stock option granted 5/13/2004; vesting in 2 equal annual installments on 5/13/2005 and 5/13/2006. |
10. Stock option granted 1/29/2007; vesting in 2 equal annual installments on 1/29/2008 and 1/29/2009. |
11. Stock option granted 12/11/2007; vesting in 2 equal annual installments on 12/11/2008 and 12/11/2009. |
Robert G. Sarver | 07/31/2009 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |