[Form 4] Dream Finders Homes, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dream Finders Homes, Inc. (DFH) – SEC Form 4

On 07/24/2025, 10 % owner W. Radford Lovett II, through the W. Radford Lovett II GST Exempt Trust, reported two open-market sales of Class A common stock:

• 28,172 shares at a weighted-average $27.95 (price range $27.82-$27.96)
• 21,904 shares at a weighted-average $26.98 (price range $26.68-$27.20)

Total shares sold: 50,076. Following the transactions, indirect beneficial ownership declined from 4,190,959 to 4,140,883 shares. No derivative activity or acquisitions were disclosed.

The sale represents roughly 1 % of the insider’s stake and does not materially change overall ownership, but provides insight into insider trading behavior.

Positive

• None.

Negative

• 10 % owner sold 50,076 DFH shares on 07/24/25
• Insider selling can be viewed negatively by some investors despite modest size

Insights

Financial Analyst

TL;DR: Minor insider sale – 50k DFH shares vs. 4.1 M stake; signal neutral unless selling accelerates.

Lovett’s trust moved 50,076 shares on 07/24/25 for roughly $1.36 M gross proceeds, cutting its position by about 1 %. The transaction size is immaterial relative to the 4.14 M shares still held, suggesting routine diversification rather than a conviction-driven exit. No derivative hedges accompany the sale, so delta exposure declines modestly. Historical patterns show larger ownership blocks retained after similar sales, tempering bearish readings. Impact on float is negligible; watch for additional filings to gauge trend.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Lovett William Radford II

(Last) (First) (Middle)

14701 PHILIPS HIGHWAY

SUITE 300

(Street)

JACKSONVILLE FL 32256

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dream Finders Homes, Inc. [ DFH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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 stock, par value $0.01 per share	07/24/2025		S		28,172	D	$27.95(1)	4,162,787	I	See Footnote(2)
Class A common stock, par value $0.01 per share	07/24/2025		S		21,904	D	$26.98(3)	4,140,883	I	See Footnote(2)
Class A common stock, par value $0.01 per share								22,349	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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.82 to $27.96. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

2. Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

3. The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.68 to $27.20. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

	/s/ Robert E. Riva, Jr. by Power of Attorney	07/28/2025
	** 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

How many DFH shares did W. Radford Lovett II sell on 07/24/2025?

He sold 50,076 Class A common shares in two separate transactions.

What prices were the Dream Finders Homes shares sold for?

Weighted-average prices were $27.95 (range $27.82-$27.96) and $26.98 (range $26.68-$27.20).

How many DFH shares does the insider still own after the sale?

The trust now beneficially owns 4,140,883 shares of DFH Class A common stock.

Through what entity are the remaining shares held?

Shares are held indirectly via the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.