Forestar (NYSE: FOR) COO nets shares after RSU vesting and tax cover

Rhea-AI Filing Summary

Forestar Group Inc. Chief Operating Officer Mark Stephen Walker exercised 4,065 restricted stock units, receiving an equal number of common shares at no exercise price. Each unit converts into one share upon vesting.

To cover withholding taxes on the March 21, 2026 vesting, 1,946 common shares were surrendered back to the company at $24.29 per share. After these transactions, Walker directly holds 24,182 shares of common stock and 8,130 restricted stock units.

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

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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^*

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)
03/21/2026

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		4,065	A	$0(1)	26,128	D
Common Stock	03/21/2026		F		1,946(2)	D	$24.29	24,182	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			4,065	(3)	(3)	Common Stock	4,065	$0	8,130	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 21, 2026.

3. On March 21, 2023, the reporting person was granted 20,325 restricted stock units, vesting in five annual installments beginning March 21, 2024.

Remarks:

	/s/ James D. Allen, Attorney-in-fact for Mark Stephen Walker	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 transactions did Forestar (FOR) report for COO Mark Stephen Walker?

Mark Stephen Walker exercised 4,065 restricted stock units into common shares and surrendered 1,946 shares for taxes. These actions occurred on March 21, 2026 and are compensation-related, not open-market buying or selling of Forestar stock.

How many Forestar (FOR) shares does COO Mark Stephen Walker hold after this Form 4?

After the reported transactions, Walker directly holds 24,182 Forestar common shares. He also holds 8,130 restricted stock units, which may convert into additional shares as they vest under the original multi-year grant schedule.

What does the RSU exercise in Forestar (FOR) COO’s Form 4 mean?

The RSU exercise converts 4,065 restricted stock units into the same number of common shares at no cash cost. RSUs are stock-based compensation that deliver shares to the executive as they vest over time, aligning pay with company performance.

Why were 1,946 Forestar (FOR) shares surrendered in this insider filing?

1,946 common shares were surrendered to Forestar to cover withholding tax obligations on vested RSUs. This tax-withholding disposition, coded “F,” is not an open-market sale and simply uses shares instead of cash to pay required taxes.

What is the origin of the RSUs in Forestar (FOR) COO’s March 2026 transaction?

The RSUs come from a 20,325-unit grant awarded on March 21, 2023. That grant vests in five equal annual installments beginning March 21, 2024, which explains the 2026 vesting event and associated share delivery and tax withholding.