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

D.R. Horton (NYSE: DHI) COO logs RSU vesting, bonus shares and tax share surrenders

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

D.R. Horton EVP and COO Michael J. Murray reported routine equity compensation activity and related tax withholding. On April 20, 2026, 2,370 restricted stock units vested and converted into the same number of common shares, part of a grant of 11,850 units awarded April 20, 2023 and vesting in five annual installments.

Murray surrendered 933 shares at $153.34 and 4,992 shares at $162.95 to the issuer to cover tax obligations tied to the RSU vesting and a share bonus. He also received a grant of 6,388 common shares with no purchase price as a bonus for the six-month period ended March 31, 2026.

Following these transactions, he owns directly 128,968 D.R. Horton common shares, indirectly beneficially owns 249,825 shares through a limited partnership he and his wife control, and indirectly holds 32,340 shares through a family foundation.

Positive

  • None.

Negative

  • None.
Insider Murray Michael J
Role EVP and COO
Type Security Shares Price Value
Grant/Award Common Stock 6,388 $0.00 --
Tax Withholding Common Stock 4,992 $162.95 $813K
Exercise Restricted Stock Unit 2,370 $0.00 --
Exercise Common Stock 2,370 $0.00 --
Tax Withholding Common Stock 933 $153.34 $143K
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 133,960 shares (Direct, null); Restricted Stock Unit — 4,740 shares (Direct, null); Common Stock — 249,825 shares (Indirect, Held by Limited Partnership controlled by Mr. Murray and his wife.)
Footnotes (1)
  1. Each restricted stock unit converts into one share of DHI common stock. These shares were surrendered to issuer to cover tax obligations of the 2,370 shares of DHI common stock issued upon the vesting of the restricted stock units awarded April 20, 2023. These shares were issued pursuant to Mr. Murray's bonus earned for the six-months ended March 31, 2026. These shares were surrendered to issuer to cover tax obligations of Mr. Murray's bonus referenced in note 3 above. Following all transactions on this Form 4, Mr. Murray owns directly 128,968 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. On April 20, 2023, the reporting person was granted 11,850 restricted stock units, vesting in five annual installments beginning April 20, 2024.
RSU vesting 2,370 shares Restricted stock units converting 1:1 into common stock on April 20, 2026
Bonus share grant 6,388 shares Shares issued as bonus for six-months ended March 31, 2026
Tax withholding shares 5,925 shares Shares surrendered at $153.34 and $162.95 to cover tax obligations
Direct holdings after transactions 128,968 shares Direct D.R. Horton common stock owned following all reported transactions
Indirect LP holdings 249,825 shares Indirect beneficial ownership via limited partnership controlled by Murray and his wife
Indirect foundation holdings 32,340 shares Indirect holdings through a family foundation controlled by Murray and relatives
Tax surrender price 1 $153.34/share Price for 933 shares surrendered to cover tax obligations
Tax surrender price 2 $162.95/share Price for 4,992 shares surrendered to cover tax obligations
restricted stock unit financial
"On April 20, 2023, the reporting person was granted 11,850 restricted stock units, vesting in five annual installments"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax obligations financial
"These shares were surrendered to issuer to cover tax obligations of the 2,370 shares of DHI common stock issued"
indirectly beneficially owns financial
"indirectly beneficially owns 249,825 shares of DHI common stock"
limited partnership financial
"Held by Limited Partnership controlled by Mr. Murray and his wife."
A limited partnership is a legal business structure with two types of partners: at least one general partner who runs the business and bears full legal responsibility, and one or more limited partners who contribute money, share profits, and have liability capped at their investment. For investors, it matters because it separates control from financial exposure — like putting money into a store without managing it — and affects how returns, risks, taxes and transferability of ownership are handled.
foundation financial
"Held by Foundation controlled by Mr. Murray and members of his immediate family."
grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Murray Michael J
(Last)(First)(Middle)
1341 HORTON CIRCLE
(Street)
ARLINGTON TEXAS 76011
(City)(State)(Zip)
UNITED STATES
(Country)		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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP and COO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/20/2026M2,370A(1)128,505D
Common Stock04/20/2026F(2)933D$153.34127,572D
Common Stock04/22/2026A(3)6,388A$0133,960D
Common Stock04/22/2026F(4)4,992D$162.95128,968(5)D
Common Stock249,825(5)IHeld by Limited Partnership controlled by Mr. Murray and his wife.
Common Stock32,340(5)IHeld 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)04/20/2026M2,370 (6) (6)Common Stock2,370$04,740D
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 2,370 shares of DHI common stock issued upon the vesting of the restricted stock units awarded April 20, 2023.
3. These shares were issued pursuant to Mr. Murray's bonus earned for the six-months ended March 31, 2026.
4. These shares were surrendered to issuer to cover tax obligations of Mr. Murray's bonus referenced in note 3 above.
5. Following all transactions on this Form 4, Mr. Murray owns directly 128,968 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.
6. On April 20, 2023, the reporting person was granted 11,850 restricted stock units, vesting in five annual installments beginning April 20, 2024.
/s/ Michael J. Murray04/22/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did D.R. Horton EVP and COO Michael J. Murray report in this Form 4 for DHI?

Murray reported vesting of restricted stock units, a share-based bonus, and related tax-withholding dispositions. These transactions reflect routine equity compensation events rather than open-market trades, updating his direct and indirect ownership in D.R. Horton common stock.

How many D.R. Horton (DHI) shares did Michael J. Murray receive from RSU vesting and bonuses?

He received 2,370 D.R. Horton common shares upon restricted stock unit vesting and 6,388 additional shares as a bonus for the six-month period ended March 31, 2026, both issued without a cash purchase price per share.

Why did Michael J. Murray surrender DHI shares on April 20 and April 22, 2026?

He surrendered 933 DHI shares at $153.34 and 4,992 shares at $162.95 to the issuer to cover tax obligations arising from the RSU vesting and his share-based bonus, a common mechanism instead of paying the tax liability in cash.

What is Michael J. Murray’s direct ownership in D.R. Horton (DHI) after these transactions?

After the reported transactions, Murray directly owns 128,968 shares of D.R. Horton common stock. This figure reflects his position following the RSU vesting, bonus share issuance, and share surrenders for tax obligations described in the filing’s footnotes.

What indirect D.R. Horton (DHI) holdings are associated with Michael J. Murray?

He indirectly beneficially owns 249,825 D.R. Horton shares through a limited partnership controlled by him and his wife, and indirectly holds 32,340 shares through a family foundation, expanding his economic interest beyond directly registered holdings.

Are the share dispositions in Michael J. Murray’s Form 4 open-market sales of DHI stock?

No. The dispositions involve 933 and 4,992 shares surrendered to D.R. Horton to satisfy tax obligations on equity compensation. They are classified as tax-withholding events, not open-market sales to outside investors on an exchange.