Sec Form 4 Filing - Brown Lance @ Harbor Custom Development, Inc. - 2023-07-21

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Brown Lance 2. Issuer Name and Ticker or Trading Symbol Harbor Custom Development, Inc. [ HCDI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Financial Officer (Last) (First) (Middle) 1201 PACIFIC AVENUE, SUITE 1200 3. Date of Earliest Transaction (MM/DD/YY) 07/21/2023 (Street) TACOMA,, WA98402 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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, no par value 3,353 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Options ( 1 ) ( 1 ) ( 1 ) Common Stock, no par value 0 0 D Restricted Stock Units ( 2 ) ( 2 ) ( 2 ) Common Stock, no par value 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Brown Lance 1201 PACIFIC AVENUE, SUITE 1200 TACOMA,, WA98402 Chief Financial Officer Signatures /s/ Lance Brown 07/21/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On June 13, 2023, Mr. Brown was granted 65,000 Incentive Stock Options pursuant to the Company's 2018 Equity Incentive Plan, and subject to a vesting schedule. As of the date of Mr. Brown's resignation, none of the options vested and therefore all 65,000 options were forfeited. ( 2 )On November 8, 2021 and May 26, 2022, Mr. Brown was granted 5,000 and 1,750 shares of common stock, respectively, pursuant to the 2020 Restricted Stock Plan. The vesting of such common stock was contingent on Mr. Brown's continued employment through each applicable vesting date. Following his resignation on July 21, 2023, the remaining 3,667 unvested shares were forfeited.

Remarks: Effective July 21, 2023, Mr. Brown resigned as Chief Financial Officer. He is voluntarily filing this Form 4 to indicate that he is no longer subject to Section 16 of the Securities Exchange Act of 1934, as amended.

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).

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