D.R. Horton (DHI) CEO Romanowski exercises RSUs and settles taxes in shares

Rhea-AI Filing Summary

Horton D.R. Inc. President and CEO Paul J. Romanowski exercised restricted stock units into common shares as part of his equity compensation. On March 17, he converted 1,734 restricted stock units into 1,734 shares of common stock. Of these, 697 shares were surrendered back to the company at $142.14 per share to cover tax obligations tied to the vesting. After these transactions, he directly owns 194,661 shares of common stock, indicating a routine, compensation-related update rather than a large change in his stake.

Insider Trade Summary

1,734 shares exercised/converted

Mixed 3 txns

Insider Romanowski Paul J

Role President and CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	1,734	$0.00	--
Exercise	Common Stock	1,734	$0.00	--
Tax Withholding	Common Stock	697	$142.14	$99K

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock — 195,358 shares (Direct)

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 1,734 shares of DHI common stock issued upon the vesting of the restricted stock units awarded March 17, 2021. On March 17, 2021, the reporting person was granted 8,670 restricted stock units, vesting in five annual installments beginning March 17, 2022.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/18/2026 - 05:23 PM Learn about SEC filing dates

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^*

Romanowski Paul 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/17/2026		M		1,734	A	(1)	195,358	D
Common Stock	03/17/2026		F(2)		697	D	$142.14	194,661	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)	03/17/2026		M			1,734	(3)	(3)	Common Stock	1,734	$0	0	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 1,734 shares of DHI common stock issued upon the vesting of the restricted stock units awarded March 17, 2021.

3. On March 17, 2021, the reporting person was granted 8,670 restricted stock units, vesting in five annual installments beginning March 17, 2022.

	/s/ Paul J. Romanowski	03/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did D.R. Horton (DHI) CEO Paul Romanowski report in this Form 4?

Paul Romanowski reported routine equity compensation activity. He exercised 1,734 restricted stock units into common shares, then surrendered 697 shares to cover tax obligations. Following these transactions, he directly holds 194,661 shares of D.R. Horton common stock.

How many D.R. Horton (DHI) shares did the CEO acquire through RSU vesting?

He acquired 1,734 shares of common stock when restricted stock units vested. Each restricted stock unit converts into one share of DHI common stock, reflecting the scheduled vesting of prior equity awards granted as part of his long-term compensation package.

Why were 697 D.R. Horton (DHI) shares surrendered by the CEO?

697 shares were surrendered back to the company to cover tax obligations on the vesting of 1,734 shares. This tax-withholding disposition is a common practice, allowing taxes to be settled using shares instead of separate cash payments by the executive.

What is Paul Romanowski’s D.R. Horton (DHI) share ownership after these transactions?

After the March 17 transactions, Paul Romanowski directly owns 194,661 shares of D.R. Horton common stock. This figure reflects the new shares from restricted stock unit vesting, net of those surrendered to satisfy associated tax obligations on the award.

What is the background of the restricted stock units in this D.R. Horton (DHI) Form 4?

The restricted stock units were part of an 8,670-unit award granted on March 17, 2021. That grant vests in five equal annual installments beginning March 17, 2022, making this event one of the scheduled vesting installments for the long-term incentive award.

Was the CEO’s D.R. Horton (DHI) Form 4 transaction an open-market sale or purchase?

The filing shows no open-market purchase or sale. It reflects an exercise of restricted stock units into 1,734 shares and a 697-share surrender for taxes, a compensation-related event rather than discretionary trading in the open market.