D.R. Horton Insider Gifts 3,010 Shares; Murray Discloses Holdings

Rhea-AI Filing Summary

Michael J. Murray, Executive Vice President and COO of D.R. Horton, reported gifts and changes in beneficial ownership on Form 4. The filing shows two gift transactions on 09/09/2025: a disposition of 1,860 shares reported as a gift and another disposition of 1,150 shares transferred by a family-controlled foundation to an outside entity. After these transactions, Mr. Murray directly owns 81,606 shares and indirectly beneficially owns 249,825 shares; he also indirectly holds 32,340 shares held by the family-controlled foundation. The filing includes his signature dated 09/11/2025.

The report states the 1,860-share transfer was a gift to the foundation controlled by Mr. Murray and immediate family, and the 1,150-share transfer was a gift by that foundation to an outside entity, with Mr. Murray disclaiming beneficial ownership of the gifted shares.

Positive

• Clear disclosure of direct and indirect holdings after the transactions: 81,606 direct, 249,825 indirect, and 32,340 held by the foundation
• Transparency in reporting gifts and disclaimers, including foundation relationships and that gifted shares were transferred to an outside entity

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider gift transactions were disclosed; no cash sales or acquisitions affecting liquidity were reported.

The Form 4 documents non‑derivative dispositions via gifts on 09/09/2025 totaling 3,010 shares reported under transaction codes G. These are non‑cash transfers: 1,860 shares gifted to a family‑controlled foundation and 1,150 shares transferred from that foundation to an outside entity. Post‑transaction beneficial ownership is disclosed precisely: 81,606 shares direct, 249,825 shares indirect, and 32,340 shares indirectly held by the foundation. For investors, this is a governance/transparency disclosure rather than an operational or financial development.

Corporate Governance Expert

TL;DR: The filing shows standard insider gift activity with explicit disclaimers of ownership for gifted shares.

The reporting distinguishes direct holdings from indirect holdings and documents the foundation relationship and disclaimer of beneficial ownership after the foundation's gift to a third party. The clarity on ownership forms

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^*

Murray Michael J

(Last) (First) (Middle)

1341 HORTON CIRCLE

(Street)

ARLINGTON TX 76011

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HORTON D R INC /DE/ [ DHI ]

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

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

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
Common Stock	09/09/2025		G(1)		1,860	D	$0	81,606(2)	D
Common Stock								249,825(2)	I	Held by Limited Partnership controlled by Mr. Murray and his wife.
Common Stock	09/09/2025		G(3)		1,150	D	$0	32,340(2)	I	Held by Foundation controlled by Mr. Murray and members of his immediate family.

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. This transaction involved a gift of securities to the Foundation controlled by Mr. Murray and his immediate family.

2. Following all transactions on this Form 4, Mr. Murray owns directly 81,606 shares of DHI common stock, indirectly beneficially owns 249,825 shares of DHI common stock and indirectly holds 32,340 shares of DHI common stock.

3. This transaction involved a gift of securities by the Foundation controlled by Mr. Murray and members of his immediate family to an outside entity. Mr. Murray disclaims beneficial ownership of the shares gifted.

	/s/ Michael J. Murray	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

What transactions did Michael J. Murray report on Form 4 for DHI?

He reported gifts on 09/09/2025: a disposition of 1,860 shares to a family‑controlled foundation and a disposition of 1,150 shares transferred by that foundation to an outside entity.

How many DHI shares does Michael J. Murray own after the reported transactions?

Post‑transaction holdings: 81,606 shares directly, 249,825 shares indirectly beneficially owned, and 32,340 shares indirectly held by the foundation.

Did the Form 4 report any cash sales or purchases by Mr. Murray?

No. Both reported dispositions are coded as gifts (transaction code G) with a reported price of $0.

When were the transactions and when was the Form 4 signed?

Transactions dated: 09/09/2025. Signature date: 09/11/2025.

Does Mr. Murray retain beneficial ownership of shares gifted by the foundation?

No. The filing states the foundation gifted shares to an outside entity and Mr. Murray disclaims beneficial ownership of those gifted shares.