[Form 4] Forestar Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Forestar Group Inc. director and CEO Anthony W. Oxley reported equity transactions in company stock. On November 20, 2025, 5,880 restricted stock units were converted into an equal number of common shares at an exercise price of $0, reflecting previously granted equity that vested. On the same date, 2,314 shares of common stock were surrendered at $23.22 per share to cover withholding taxes tied to the vesting event.

After these transactions, Oxley directly owned 9,793 shares of Forestar common stock, and an additional 9,263 shares were held indirectly through The Anthony and Mary Oxley Revocable Trust. The restricted stock units originated from a grant of 29,400 units awarded on November 20, 2024, scheduled to vest in five annual installments beginning November 20, 2025.

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
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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^*

Oxley Anthony W

(Last) (First) (Middle)

2221 E. LAMAR BLVD., SUITE 790

(Street)

ARLINGTON TX 76006

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

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		5,880	A	$0(1)	12,107	D
Common Stock	11/20/2025		F		2,314(2)	D	$23.22	9,793	D
Common Stock								9,263	I	Held by The Anthony and Mary Oxley Revocable Trust.

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			5,880	(3)	(3)	Common Stock	5,880	$0	23,520	D

Explanation of Responses:

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

2. These shares are surrendered to issuer to cover withholding tax obligations of the shares vested on November 20, 2025.

3. On November 20, 2024, the reporting person was granted 29,400 restricted stock units, vesting in five annual installments beginning November 20, 2025.

Remarks:

	/s/ Ashley Dagley, Attorney-in-fact for Anthony W. Oxley	11/24/2025
	** 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 Forestar Group Inc. (FOR) report for Anthony W. Oxley?

The report shows that Anthony W. Oxley, Forestar Group Inc.'s director and Chief Executive Officer, had 5,880 restricted stock units convert into the same number of common shares on November 20, 2025, and a portion of those shares was surrendered to cover taxes.

How many Forestar (FOR) shares were surrendered to cover taxes in this Form 4?

Oxley surrendered 2,314 shares of Forestar common stock at a price of $23.22 per share to satisfy withholding tax obligations related to the vesting of restricted stock units on November 20, 2025.

How many Forestar Group Inc. (FOR) shares does Anthony W. Oxley own after the reported transactions?

Following the reported transactions, Oxley directly owned 9,793 shares of Forestar common stock, and 9,263 shares were held indirectly through The Anthony and Mary Oxley Revocable Trust.

What was the origin of the 5,880 restricted stock units reported for Forestar (FOR)?

The 5,880 restricted stock units came from a grant of 29,400 restricted stock units awarded on November 20, 2024, which vest in five annual installments beginning November 20, 2025.

What does each restricted stock unit represent in the Forestar (FOR) Form 4 filing?

Each restricted stock unit represents a contingent right to receive one share of Forestar Group Inc. common stock upon vesting, as described in the explanation of responses.

What roles does Anthony W. Oxley hold at Forestar Group Inc. (FOR) according to the filing?

According to the filing, Anthony W. Oxley is both a Director and an Officer, serving as Chief Executive Officer of Forestar Group Inc.