Forestar Group (FOR) director converts 1,096 RSUs into common shares

Rhea-AI Filing Summary

Forestar Group Inc. director Samuel R. Fuller exercised restricted stock units into common shares. On March 21, he converted 1,096 restricted stock units into 1,096 shares of Forestar common stock at a stated price of $0.00 per share.

Following this derivative exercise, Fuller directly holds 31,205 shares of Forestar common stock. The restricted stock units were part of a 3,286-unit grant awarded on March 21, 2023, which vests in three annual installments beginning March 21, 2024.

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^*

FULLER SAMUEL R

(Last) (First) (Middle)

2221 E. LAMAR BLVD.

SUITE 790

(Street)

ARLINGTON TEXAS 76006

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Forestar Group Inc. [ FOR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/21/2026

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	03/21/2026		M		1,096	A	$0(1)	31,205	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)	03/21/2026		M			1,096	(2)	(2)	Common Stock	1,096	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of FOR common stock upon vesting.

2. On March 21, 2023, the reporting person was granted 3,286 restricted stock units, vesting in three annual installments beginning March 21, 2024.

Remarks:

	/s/ James D. Allen, Attorney-in-fact for Samuel R. Fuller	03/24/2026
	** 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 insider transaction did Forestar Group Inc. (FOR) report for Samuel R. Fuller?

Forestar reported that director Samuel R. Fuller exercised 1,096 restricted stock units into 1,096 shares of common stock. This was a derivative exercise at a stated price of $0.00 per share, reflecting vesting of prior equity compensation rather than an open-market stock purchase.

How many Forestar Group (FOR) shares does Samuel R. Fuller own after this Form 4 transaction?

After the reported transaction, Samuel R. Fuller directly owns 31,205 shares of Forestar common stock. This total reflects the addition of 1,096 shares received from exercising restricted stock units, as disclosed in the Form 4 insider filing for the March 21, 2026 transaction date.

What was the nature of the restricted stock unit transaction for Forestar (FOR) on March 21, 2026?

The transaction was an exercise or conversion of derivative securities, specifically restricted stock units. Fuller converted 1,096 units into an equal number of common shares at a recorded price of $0.00 per share, consistent with equity awards that settle in stock upon vesting rather than a cash purchase.

Were the Forestar (FOR) shares in this Form 4 bought or sold on the open market?

The shares were not bought or sold on the open market. The Form 4 shows a derivative exercise coded "M," where restricted stock units vested and settled into 1,096 common shares. No open-market purchase or sale price is reported, only the $0.00 exercise price for the award.

What prior equity grant is linked to Samuel R. Fuller’s Forestar (FOR) Form 4 transaction?

The transaction relates to a grant of 3,286 restricted stock units awarded on March 21, 2023. According to the footnotes, these units vest in three equal annual installments beginning March 21, 2024, with the March 21, 2026 Form 4 reflecting one of those vesting installments converting into shares.

Does Samuel R. Fuller still hold any restricted stock units of Forestar Group (FOR) after this filing?

The derivative position reported for these specific restricted stock units shows zero units remaining after conversion. The Form 4 lists 1,096 restricted stock units exercised and a remaining balance of 0 for that award series, indicating this portion of the 2023 grant has fully settled into common shares.