Dream Finders Homes insider sale; 3,912,625 shares remain indirect

Rhea-AI Filing Summary

Dream Finders Homes (DFH) insider activity: On 10/20/2025, a director and 10% owner reported an open-market sale of 8,258 shares of Class A common stock at a weighted average price of $23.17, with individual sale prices ranging from $23.00 to $23.66.

Following the transaction, the reporting person beneficially owned 3,912,625 shares indirectly through the W. Radford Lovett II GST Exempt Trust, where the reporting person is the sole trustee, and 22,349 shares directly.

Insider Trade Summary

Net Seller: 8,258 shares ($191,338)

Net Sell 2 txns

Insider Lovett William Radford II

Role 10% Owner

Sold 8,258 shs ($191K)

Type	Security	Shares	Price	Value
Sale	Class A common stock, par value $0.01 per share	8,258	$23.17	$191K
holding	Class A common stock, par value $0.01 per share	--	--	--

Holdings After Transaction: Class A common stock, par value $0.01 per share — 3,912,625 shares (Indirect, See Footnote); Class A common stock, par value $0.01 per share — 22,349 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. The prices sold ranged from $23.00 to $23.66. 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. 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.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

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)
10/20/2025

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	10/20/2025		S		8,258	D	$23.17(1)	3,912,625	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 $23.00 to $23.66. 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.

	/s/ Robert E. Riva, Jr. by Power of Attorney	10/22/2025
	** 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

What did DFH’s insider report in the latest Form 4?

A director and 10% owner reported selling 8,258 shares of Class A common stock on 10/20/2025.

What price did the DFH shares sell for in the transaction?

The weighted average sale price was $23.17, with trades ranging from $23.00 to $23.66.

How many DFH shares does the reporting person own after the sale?

Beneficial ownership after the sale was 3,912,625 shares indirectly and 22,349 shares directly.

How is most of the DFH ownership held by the insider?

Indirectly through the W. Radford Lovett II GST Exempt Trust, for which the reporting person is the sole trustee.

What was the transaction code on the Form 4 for DFH?

Transaction code S, indicating an open-market or private sale of non-derivative securities.

Is the DFH filer a director or a major shareholder?

The filer is identified as a director and a 10% owner.