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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
WHITE C TIMOTHY
   2. Issuer Name and Ticker or Trading Symbol
Meritage Homes CORP [MTH] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP - Gen. Counsel, Secretary
(Last)
(First)
(Middle)
17851 N. 85TH STREET, SUITE 300		 3. Date of Earliest Transaction (Month/Day/Year)
02/10/2012
(Street)

SCOTTSDALE, AZ 85255		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 (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
MTH COMMON STOCK 02/10/2012   M   6,257 A $ 15.98 44,383 D  
MTH COMMON STOCK 02/10/2012   M   3,743 A $ 15.98 48,126 D  
MTH COMMON STOCK 02/10/2012   S   6,257 D $ 26.72 41,869 D  
MTH COMMON STOCK 02/10/2012   S   3,743 D $ 26.72 38,126 D  
MTH COMMON STOCK 02/11/2012   A   7,500 (1) A $ 0 55,626 (2) D  
MTH COMMON STOCK 02/10/2012   A   12,500 (3) (4) A $ 0 35,000 (5) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (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 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
MTH COMMON STOCK $ 15.98 02/10/2012   M     6,257 12/11/2011 12/11/2014 MTH COMMON STOCK 6,257 $ 0 0 D  
MTH COMMON STOCK $ 15.98 02/10/2012   M     3,743 12/11/2011 12/11/2014 MTH COMMON STOCK 3,743 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WHITE C TIMOTHY
17851 N. 85TH STREET
SUITE 300
SCOTTSDALE, AZ 85255		       EVP - Gen. Counsel, Secretary  

Signatures

 /s/ C. Timothy White   02/13/2012
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Represents vesting of restricted stock contingent upon the achievement of pre-specified performance goals. An additional 7,500 of restricted stock were forfeited as the performance goals were not obtained.
(2) Balance reflects all other holdings, including restricted shares that have vested.
(3) Represents grant of restricted shares. The shares will fully vest on the third anniversary of the date of grant.
(4) In addition to this restricted stock grant, Mr. White also received a grant of 12,500 shares of restricted stock on 2/10/2012 that will fully vest on the third anniversary of the date of grant; however, vesting is also contingent upon the achievement of pre-specified performance targets.
(5) Balance represents restricted shares not vested but does not include 40,000 shares of restricted stock with vesting contingent upon the achievement of pre-specified performance targets.

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