DHI insider Michael Murray updates D.R. Horton share holdings

Rhea-AI Filing Summary

D.R. Horton executive vice president and COO Michael J. Murray reported equity award activity involving company common stock. On 11/20/2025, 1,564 restricted stock units converted into the same number of DHI common shares. Of these, 616 shares were surrendered at $137.32 per share to cover tax obligations related to the vesting.

After these transactions, Murray directly owns 129,675 shares of DHI common stock, indirectly beneficially owns 249,825 shares through a limited partnership controlled by him and his wife, and indirectly holds 32,340 shares through a family foundation. He also continues to hold 6,256 restricted stock units from a grant of 7,820 units awarded on November 20, 2024, scheduled to vest in five annual installments beginning November 20, 2025.

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

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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)
11/20/2025

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
Common Stock	11/20/2025		M		1,564	A	(1)	130,291	D
Common Stock	11/20/2025		F(2)		616	D	$137.32	129,675(3)	D
Common Stock								249,825(3)	I	Held by Limited Partnership controlled by Mr. Murray and his wife.
Common Stock								32,340(3)	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
Restricted Stock Unit	(1)	11/20/2025		M			1,564	(4)	(4)	Common Stock	1,564	$0	6,256	D

Explanation of Responses:

1. Each restricted stock unit converts into one share of DHI common stock.

2. These shares were surrendered to issuer to cover tax obligations of the 1,564 shares of DHI common stock issued upon the vesting of the restricted stock units awarded November 20, 2024.

3. Following all transactions on this Form 4, Mr. Murray owns directly 129,675 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.

4. On November 20, 2024, the reporting person was granted 7,820 restricted stock units, vesting in five annual installments beginning November 20, 2025.

	/s/ Michael J. Murray	11/21/2025
	** 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).
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FAQ

What insider activity did DHI executive Michael J. Murray report?

Michael J. Murray, EVP and COO of D.R. Horton (DHI), reported the vesting of 1,564 restricted stock units into DHI common stock on 11/20/2025, along with a related tax share surrender.

How many D.R. Horton shares did Michael J. Murray acquire and surrender in this Form 4?

Murray acquired 1,564 DHI common shares upon RSU vesting and surrendered 616 shares at $137.32 per share to cover tax obligations.

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

Following the reported activity, Murray directly owns 129,675 DHI shares, indirectly owns 249,825 shares through a limited partnership, and indirectly holds 32,340 shares through a family foundation.

What are the remaining restricted stock units held by the DHI insider?

After the conversion of vested units, Murray beneficially owns 6,256 restricted stock units, each of which converts into one share of DHI common stock upon vesting.

When were Michael J. Murrays restricted stock units originally granted and how do they vest?

The 7,820 restricted stock units were granted on November 20, 2024 and are scheduled to vest in five annual installments beginning November 20, 2025.

Why were 616 DHI shares surrendered by Michael J. Murray?

The 616 DHI shares were surrendered to the issuer to cover tax obligations arising from the 1,564 shares issued upon the vesting of restricted stock units.