Forestar Group director updates holdings after 750-share RSU vest

Rhea-AI Filing Summary

Forestar Group Inc. (FOR) director Lisa H. Jamieson reported an equity compensation-related transaction. On 11/20/2025, 750 restricted stock units were converted into 750 shares of common stock at an exercise price of $0, increasing her directly held common stock to 24,609 shares.

The derivative holdings reflect restricted stock units originally granted on November 20, 2024, when 2,250 units were awarded to vest in three annual installments beginning November 20, 2025. Following this vesting event, 1,500 restricted stock units remain beneficially owned. Each restricted stock unit represents a contingent right to receive one share of Forestar common stock upon vesting.

Insider Trade Summary

750 shares exercised/converted

Mixed 2 txns

Insider Jamieson Lisa H.

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	750	$0.00	--
Exercise	Common Stock	750	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 1,500 shares (Direct); Common Stock — 24,609 shares (Direct)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of FOR common stock upon vesting. On November 20, 2024, the reporting person was granted 2,250 restricted stock units, vesting in three annual installments beginning November 20, 2025.

Form 4 Insider Transactions: What Each Field Means →

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^*

Jamieson Lisa H.

(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
	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		750	A	$0	24,609	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			750	(2)	(2)	Common Stock	750	$0	1,500	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 November 20, 2024, the reporting person was granted 2,250 restricted stock units, vesting in three annual installments beginning November 20, 2025.

Remarks:

	/s/ Ashley Dagley, Attorney-in-fact for Lisa H. Jamieson	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 in this Form 4?

The filing reports that director Lisa H. Jamieson had 750 restricted stock units convert into 750 shares of Forestar common stock on 11/20/2025 at an exercise price of $0.

How many Forestar (FOR) common shares does the reporting person own after this transaction?

After the reported transaction, the director beneficially owns 24,609 shares of Forestar common stock in direct ownership.

What restricted stock unit (RSU) grant is referenced in the Forestar (FOR) Form 4?

The Form 4 notes that on November 20, 2024 the reporting person was granted 2,250 restricted stock units, scheduled to vest in three annual installments beginning November 20, 2025.

How many Forestar (FOR) restricted stock units remain after the reported transaction?

Following the conversion of 750 units, the director beneficially owns 1,500 restricted stock units, each representing a right to receive one share of Forestar common stock upon vesting.

What is the relationship of the reporting person to Forestar Group Inc. (FOR)?

The reporting person in this Form 4 is identified as a director of Forestar Group Inc.

Was the Forestar (FOR) equity transaction a purchase for cash or an RSU conversion?

The transaction was an RSU conversion, coded as transaction type M, where 750 restricted stock units converted into common stock at an exercise price of $0.