[Form 4] Forestar Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Forestar Group Inc. reported a routine insider equity transaction by its chief financial officer. On December 1, 2025, the officer acquired 400 shares of common stock through the vesting and exercise of restricted stock units at an effective price of $0 per share. On the same date, the officer disposed of 400 shares of common stock at $25.57 per share, which were surrendered to the company to satisfy withholding tax obligations related to a 13,245 restricted stock unit award granted on October 29, 2025. Following these transactions, the officer beneficially owned 31,486 shares of common stock directly and 12,845 restricted stock units, reflecting ongoing equity-based compensation rather than an open-market purchase or sale.

Insider Trade Summary

400 shares exercised/converted

Mixed 3 txns

Insider Allen James Douglas

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	400	$0.00	--
Exercise	Common Stock	400	$0.00	--
Tax Withholding	Common Stock	400	$25.57	$10K

Holdings After Transaction: Restricted Stock Unit — 12,845 shares (Direct); Common Stock — 31,886 shares (Direct)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of FOR common stock upon vesting. These shares were surrendered to issuer to cover withholding tax obligations of the 13,245 restricted stock units awarded October 29, 2025. Represents common stock acquired by the vesting of a portion of the 13,245 restricted stock units awarded October 29, 2025, to cover withholding tax obligations. On October 29, 2025, the reporting person was granted 13,245 restricted stock units.

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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^*

Allen James Douglas

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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	12/01/2025		M		400	A	$0(1)	31,886	D
Common Stock	12/01/2025		F(2)		400	D	$25.57	31,486	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)	12/01/2025		M			400(3)	(4)	(4)	Common Stock	400	$0	12,845	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 were surrendered to issuer to cover withholding tax obligations of the 13,245 restricted stock units awarded October 29, 2025.

3. Represents common stock acquired by the vesting of a portion of the 13,245 restricted stock units awarded October 29, 2025, to cover withholding tax obligations.

4. On October 29, 2025, the reporting person was granted 13,245 restricted stock units.

Remarks:

	/s/ Ashley Dagley, Attorney-in-fact for James Douglas Allen	12/03/2025
	** 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.