[Form 4] HORTON D R INC /DE/ Insider Trading Activity

Rhea-AI Filing Summary

D.R. Horton, Inc. (DHI) director Michael R. Buchanan reported an equity transaction involving company stock. On 11/20/2025, 289 restricted stock units were converted into 289 shares of DHI common stock at an exercise price of $0, reported with transaction code "M".

After these transactions, Mr. Buchanan directly owns 1,482 shares of DHI common stock and indirectly holds 8,136 shares through his wife. The filing also notes that he had previously been granted 1,445 restricted stock units 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

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^*

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)
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		289	A	(1)	1,482(2)	D
Common Stock								8,136(2)	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
Restricted Stock Unit	(1)	11/20/2025		M			289	(3)	(3)	Common Stock	289	$0	1,156	D

Explanation of Responses:

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

2. Following all transactions listed on this Form 4, Mr. Buchanan directly owns 1,482 shares of DHI common stock and indirectly holds 8,136 shares of DHI common stock.

3. On November 20, 2024, the reporting person was granted 1,445 restricted stock units, vesting in five annual installments beginning November 20, 2025.

	/s/ Michael R. Buchanan	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).
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 insider transaction did DHI director Michael R. Buchanan report?

D.R. Horton (DHI) director Michael R. Buchanan reported the conversion of 289 restricted stock units into 289 shares of DHI common stock on 11/20/2025, using transaction code "M".

How many DHI shares does Michael R. Buchanan own after this Form 4 filing?

Following the reported transactions, Michael R. Buchanan directly owns 1,482 shares of DHI common stock and indirectly holds 8,136 shares through his wife.

What are the details of the restricted stock units reported by DHI for Buchanan?

The filing states that on November 20, 2024, Michael R. Buchanan was granted 1,445 restricted stock units, vesting in five annual installments beginning November 20, 2025. Each restricted stock unit converts into one share of DHI common stock.

What does transaction code "M" mean in the DHI Form 4 filing?

In this context, transaction code "M" indicates the conversion or exercise of a derivative security, here showing 289 restricted stock units converting into 289 shares of DHI common stock.

What is Michael R. Buchanan’s relationship to D.R. Horton (DHI)?

The filing identifies Michael R. Buchanan as a Director of D.R. Horton, Inc. (DHI). The form is filed by one reporting person.

How are indirect holdings reported for DHI director Michael R. Buchanan?

The Form 4 notes that 8,136 shares of DHI common stock are held indirectly, described as being held by Mr. Buchanan's wife.