Forestar COO exercises RSUs, shares withheld for tax

Forestar Group Inc. Chief Operating Officer Mark Stephen Walker exercised restricted stock units into common shares and had shares withheld for taxes.

Rhea-AI Filing Summary

Forestar Group Inc. Chief Operating Officer Mark Stephen Walker exercised restricted stock units into common shares and had shares withheld for taxes. On March 31, 2026, he converted 2,815 restricted stock units into 2,815 shares of common stock.

To cover withholding tax obligations on the vested shares, 1,254 common shares were surrendered to the issuer at $24.44 per share, leaving Walker with 26,847 common shares held directly after these transactions.

Insider Trade Summary

2,815 shares exercised/converted

Exercise 3 txns

Insider Walker Mark Stephen

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	2,815	$0.00	$0.00
Exercise	Common Stock	2,815	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	1,254	$24.44	$31K

Holdings After Transaction: Restricted Stock Unit — 2,815 contracts (Direct); Common Stock — 26,847 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of FOR common stock upon vesting.
2. F2. These shares are surrendered to issuer to cover withholding tax obligations of the shares vested on March 31, 2026.
3. F3. On March 31, 2022, the reporting person was granted 14,077 restricted stock units, vesting in five annual installments beginning March 31, 2023.

Key Figures

RSUs exercised: 2,815 units Shares surrendered for tax: 1,254 shares Tax withholding price: $24.44 per share +2 more

5 metrics

RSUs exercised 2,815 units Restricted stock units converted to common stock on March 31, 2026

Shares surrendered for tax 1,254 shares Common shares surrendered to issuer to cover withholding tax at $24.44

Tax withholding price $24.44 per share Value used for 1,254 surrendered shares on March 31, 2026

Shares held after transaction 26,847 shares Direct common stock holdings after March 31, 2026 Form 4 transactions

Original RSU grant 14,077 units Grant on March 31, 2022, vesting in five annual installments

Key Terms

Restricted Stock Unit, withholding tax obligations, vests in five annual installments, tax-withholding disposition

4 terms

Restricted Stock Unit financial

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

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

withholding tax obligations financial

"These shares are surrendered to issuer to cover withholding tax obligations of the shares vested on March 31, 2026."

vests in five annual installments financial

"On March 31, 2022, the reporting person was granted 14,077 restricted stock units, vesting in five annual installments beginning March 31, 2023."

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

FAQ

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

What did Forestar Group (FOR) COO Mark Stephen Walker report in this Form 4?

Mark Stephen Walker reported exercising 2,815 restricted stock units into common stock. As part of the same event, 1,254 shares were surrendered back to Forestar Group to satisfy withholding tax obligations tied to the March 31, 2026 vesting.

How many Forestar Group (FOR) shares does the COO hold after these transactions?

After the March 31, 2026 transactions, Mark Stephen Walker directly holds 26,847 shares of Forestar Group common stock. This reflects the newly issued shares from vested restricted stock units minus shares surrendered for tax withholding.

What is the size of the restricted stock unit grant reported for Forestar Group (FOR) COO?

The filing notes that on March 31, 2022, Mark Stephen Walker was granted 14,077 restricted stock units. These units vest in five equal annual installments beginning March 31, 2023, creating a multi-year equity compensation schedule for the COO.

Why were 1,254 Forestar Group (FOR) shares surrendered in this Form 4?

The 1,254 common shares were surrendered to Forestar Group to cover withholding tax obligations arising from the restricted stock units that vested on March 31, 2026. This tax-withholding disposition is not an open-market sale by the executive.

What does each restricted stock unit represent for Forestar Group (FOR) executives?

Each restricted stock unit represents a contingent right to receive one share of Forestar Group common stock upon vesting. Once vesting conditions are met, the units convert into shares, which may trigger associated tax withholding requirements.

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

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Accepted by SEC EDGAR 04/02/2026 - 04:05 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^*

Walker Mark Stephen

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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	03/31/2026		M		2,815	A	$0(1)	28,101	D
Common Stock	03/31/2026		F		1,254(2)	D	$24.44	26,847	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)	03/31/2026		M			2,815	(3)	(3)	Common Stock	2,815	$0	2,815	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 March 31, 2026.

3. On March 31, 2022, the reporting person was granted 14,077 restricted stock units, vesting in five annual installments beginning March 31, 2023.

Remarks:

	/s/ James D. Allen, Attorney-in-fact for Mark Stephen Walker	04/02/2026
	** 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)