Tacoma, Washington, May 16, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Harbor Custom Development, Inc. ("Harbor," "Harbor Custom Homes®," or the "Company"), (NASDAQ: HCDI; HCDIP; HCDIW, HCDIZ) on May 10, 2022, authorized a stock repurchase plan of up to an aggregate of $5.0 million, excluding fees and expenses, which may be used to repurchase shares of the Company’s outstanding common stock, warrants to purchase shares of common stock, and shares of preferred stock (collectively, the “Securities”), over the next 12 months.