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D.R. Horton Insider Sale: Michael Buchanan Disposes 1,000 DHI Shares

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Michael R. Buchanan, a director of D.R. Horton, reported on Form 4 the sale of 1,000 shares of DHI common stock on 09/05/2025 at a price of $180.74 per share. After the transaction, Mr. Buchanan directly owns 1,193 shares and indirectly holds 8,136 shares that are held by his wife. The filing is signed and dated 09/09/2025. No derivative transactions are reported on this form.

Positive

  • Transaction disclosed and filed with signature, showing compliance with reporting rules
  • Clear breakdown of direct (1,193) and indirect (8,136) holdings, including spouse attribution

Negative

  • Director disposed of 1,000 shares of DHI common stock on 09/05/2025 at $180.74 per share

Insights

TL;DR: Director reported a routine sale and disclosed indirect family holdings; filing appears compliant with Section 16 reporting requirements.

The Form 4 shows a single non-derivative disposition by a director rather than a broader change in ownership or governance. The filing identifies direct and indirect holdings and includes a signature, providing transparency about the director's current beneficial ownership. There are no amendments, no option exercises, and no scheduled plan references disclosed on this form.

TL;DR: A director sold 1,000 shares at $180.74; remaining direct and indirect stakes are disclosed precisely.

The transaction is limited to a single sale of common stock at a specified price and date. The report quantifies both direct ownership (1,193 shares) and indirect ownership (8,136 shares held by spouse), which assists investors in understanding insider exposure. There are no derivative positions or additional material disclosures in this filing.

Insider BUCHANAN MICHAEL R
Role Director
Sold 1,000 shs ($181K)
Type Security Shares Price Value
Sale Common Stock 1,000 $180.74 $181K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 1,193 shares (Direct); Common Stock — 8,136 shares (Indirect, Held by Mr. Buchanan's wife.)
Footnotes (1)
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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*
BUCHANAN MICHAEL R
(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)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025
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 09/05/2025 S 1,000 D $180.74 1,193(1) D
Common Stock 8,136(1) I Held by Mr. Buchanan's wife.
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. Following all transactions listed on this Form 4, Mr. Buchanan directly owns 1,193 shares of DHI common stock and indirectly holds 8,136 shares of DHI common stock.
/s/ Michael R. Buchanan 09/09/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Michael R. Buchanan report on Form 4 for DHI?

He reported a sale of 1,000 shares of DHI common stock on 09/05/2025 at $180.74 per share and disclosed current holdings.

How many DHI shares does Michael R. Buchanan directly and indirectly own?

Following the reported transaction he directly owns 1,193 shares and indirectly holds 8,136 shares (held by his wife).

Was any derivative or option transaction reported by the director?

No. Table II shows no derivative securities transactions reported on this Form 4.

When was the Form 4 signed and filed?

The Form 4 is signed by Michael R. Buchanan and dated 09/09/2025.

At what price were the DHI shares sold?

The sale price reported is $180.74 per share for the 1,000 shares disposed.