[Form 4] AMERICAN HOMES 4 RENT Insider Trading Activity

Rhea-AI Filing Summary

Matthew J. Hart, a director of American Homes 4 Rent (AMH), reported multiple transactions on 09/09/2025. He acquired three lots of 10,000 Class A common shares each through option exercises at exercise prices of $19.40, $23.38 and $14.00, and recorded those underlying shares as acquired. He also sold 23,270 Class A shares at a weighted-average price of $34.4456, leaving him with 61,002 beneficially owned shares after the transactions. The reported holdings include 5,672 restricted share units granted as trustee compensation that vest on the earlier of one year from grant or the next annual meeting. The Form 4 was signed by an attorney-in-fact on 09/11/2025.

Positive

• Exercised longstanding options converting 30,000 options into common shares shows planned vesting/exercise activity
• Disclosure of 5,672 restricted share units with explicit vesting conditions provides clarity on future share availability

Negative

• Sale of 23,270 shares at a weighted-average price of $34.4456 reduced the reporting person's stake to 61,002 shares

Insights

Securities Analyst

TL;DR: Director exercised multiple options, sold a block of shares, and retains 61,002 shares including 5,672 RSUs.

These transactions show routine option exercises followed by a partial disposition. The exercises converted three previously-issued options into 30,000 Class A shares at strike prices of $19.40, $23.38 and $14.00, indicating option maturities triggered on the same date. The subsequent sale of 23,270 shares at a weighted-average of $34.4456 reduced the post-exercise position to 61,002 shares. The disclosure that 5,672 restricted share units are included and their vesting conditions is material for timing of future share availability. Overall, this is a common insider liquidity event rather than a corporate change.

Corporate Governance Specialist

TL;DR: Insider exercised longstanding options and sold shares; RSU grant disclosed with clear vesting terms.

The filing documents conversion of legacy options (exercisable from 2017–2019 grant dates) into shares and a contemporaneous sale. The inclusion of non-management trustee RSUs (5,672) and their vesting trigger is relevant to governance and future dilution considerations. The filing contains explicit prices and remaining beneficial ownership, enabling investors to precisely track insider holdings without inference.

SEC Form 4

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

OMB APPROVAL

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HART MATTHEW J

(Last) (First) (Middle)

C/O AMH

280 PILOT ROAD

(Street)

LAS VEGAS NV 89119

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Homes 4 Rent [ AMH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of 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

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
Class A Common Shares	09/09/2025		M		10,000	A	$19.4	64,272(1)	D
Class A Common Shares	09/09/2025		M		10,000	A	$23.38	74,272(1)	D
Class A Common Shares	09/09/2025		M		10,000	A	$14	84,272(1)	D
Class A Common Shares	09/09/2025		S		23,270	D	$34.4456(2)	61,002(1)	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 (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)	$19.4	09/09/2025		M			10,000	02/22/2019	02/22/2028	Class A Common Shares	10,000	$0	0	D
Stock Option (right to buy)	$23.38	09/09/2025		M			10,000	02/23/2018	02/23/2027	Class A Common Shares	10,000	$0	0	D
Stock Option (right to buy)	$14	09/09/2025		M			10,000	02/25/2017	02/25/2026	Class A Common Shares	10,000	$0	0	D

Explanation of Responses:

1. Includes 5,672 restricted share units as non-management trustee compensation. The restricted share units vest in full on the earlier of (i) one year from the date of grant or (ii) the date of the next annual meeting of shareholders.

2. Represents weighted average price. The price ranged from $34.415 to $34.485. The reporting person will provide the issuer, any security holder of issuer or the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each price.

Remarks:

	/s/ Justin Liu, attorney-in-fact	09/11/2025
	** 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.

FAQ

Who filed the Form 4 for AMH and what is their role?

The Form 4 was filed for Matthew J. Hart, who is reported as a director of American Homes 4 Rent (AMH).

What transactions did the insider report on 09/09/2025 for AMH?

On 09/09/2025 the insider reported acquiring three lots of 10,000 Class A shares each (via option exercises) and selling 23,270 Class A shares at a weighted-average price of $34.4456.

How many shares does the reporting person own after the transactions?

After the reported transactions the reporting person beneficially owns 61,002 Class A shares.

Are there any restricted share units disclosed for AMH insider?

Yes, the report includes 5,672 restricted share units granted as non-management trustee compensation which vest on the earlier of one year from grant or the next annual shareholders meeting.

What were the exercise prices of the options converted into shares?

The listed exercise prices converted into shares were $19.40, $23.38, and $14.00.