DHI Form 4: Director reports RSU-to-share conversion and holdings

Rhea-AI Filing Summary

D.R. Horton director reports share acquisition from RSU conversion

A director of D.R. Horton, Inc. (DHI) reported a routine equity transaction. On 11/20/2025, 289 restricted stock units were converted into 289 shares of DHI common stock, coded as an "M" transaction, meaning a derivative security was exercised. After this transaction, the director beneficially owned 36,116 shares of common stock in direct form.

The filing also notes that these restricted stock units come from a prior equity award. On November 20, 2024, the reporting person received a grant of 1,445 restricted stock units scheduled to vest in five annual installments beginning November 20, 2025. Following the reported transaction, 1,156 restricted stock units remain beneficially owned directly.

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^*

ANDERSON BRADLEY S

(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)	36,116	D

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	(2)	(2)	Common Stock	289	$0	1,156	D

Explanation of Responses:

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

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

	/s/ Thomas B. Montano, Attorney-in-Fact	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 D.R. Horton (DHI) report on this Form 4?

A D.R. Horton (DHI) director reported that on 11/20/2025, 289 restricted stock units converted into 289 shares of common stock in a transaction coded "M".

How many D.R. Horton (DHI) shares does the director own after the transaction?

After the transaction, the director beneficially owned 36,116 shares of D.R. Horton common stock in direct form.

What is the background of the restricted stock units in this DHI Form 4?

The filing states that on November 20, 2024, the reporting person was granted 1,445 restricted stock units, vesting in five annual installments beginning November 20, 2025.

How many restricted stock units does the D.R. Horton director still hold?

Following the reported transaction, the director beneficially owned 1,156 restricted stock units directly, each convertible into one share of DHI common stock.

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

In this context, code "M" indicates the exercise or conversion of a derivative security, here the conversion of restricted stock units into D.R. Horton common shares.

Is this D.R. Horton (DHI) Form 4 a purchase on the open market?

No. The Form 4 describes the conversion of restricted stock units into common stock, not an open market purchase, and shows a $0 price for the derivative security.