D.R. Horton (DHI) director converts 289 RSUs to common stock

Rhea-AI Filing Summary

D.R. Horton director reports routine equity transaction

A director of D.R. Horton, Inc. (DHI) reported a stock transaction dated 11/20/2025. The filing shows that 289 restricted stock units were converted to an equal number of shares of common stock through a transaction coded "M," which typically indicates an exercise or conversion of a derivative security.

After this conversion, the reporting person beneficially owns 553 shares of DHI common stock directly, along with 1,156 restricted stock units that remain outstanding. Each restricted stock unit represents the right to receive one share of DHI common stock upon vesting, so this filing mainly reflects normal vesting and conversion activity rather than a new open‑market purchase or sale.

Insider Trade Summary

289 shares exercised/converted

Exercise 2 txns

Insider Smith Barbara

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	289	$0.00	$0.00
Exercise	Common Stock	289	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 1,156 contracts (Direct); Common Stock — 553 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock unit converts into one share of DHI common stock.
2. F2. On November 20, 2024, the reporting person was granted 1,445 restricted stock units, vesting in five annual installments beginning November 20, 2025.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did the DHI insider report on this Form 4?

The insider reported that 289 restricted stock units were converted into 289 shares of D.R. Horton (DHI) common stock on 11/20/2025 via transaction code "M."

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

Following the reported transaction, the insider beneficially owns 553 shares of DHI common stock directly.

How many restricted stock units does the DHI insider still hold?

After the conversion, the insider continues to hold 1,156 restricted stock units, each convertible into one share of DHI common stock upon vesting.

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

Transaction code "M" indicates the exercise or conversion of a derivative security, here the conversion of restricted stock units into DHI common stock.

Is this DHI Form 4 transaction an open-market buy or sell?

No. The filing describes a conversion of restricted stock units into common stock, not an open-market purchase or sale.

When were the DHI restricted stock units originally granted?

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

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/21/2025 - 03:06 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^*

Smith Barbara

(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)	553	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.