Forestar Group COO reports Form 4 RSU conversion and tax surrender

Rhea-AI Filing Summary

Forestar Group Inc. (FOR) reported insider equity activity by its Chief Operating Officer on a Form 4. On November 20, 2025, the officer acquired 3,542 shares of common stock at $0 upon conversion of restricted stock units and surrendered 1,578 shares at $23.22 to cover withholding taxes tied to the vesting event. After these transactions, the officer directly owned 21,284 shares of common stock and 14,168 restricted stock units. The filing notes a prior grant of 17,710 restricted stock units on November 20, 2024, vesting in five annual installments beginning November 20, 2025.

Insider Trade Summary

5,880 shares exercised/converted

Mixed 3 txns

Insider Walker Mark Stephen

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	5,880	$0.00	--
Exercise	Common Stock	3,542	$0.00	--
Tax Withholding	Common Stock	1,578	$23.22	$37K

Holdings After Transaction: Restricted Stock Unit — 14,168 shares (Direct); Common Stock — 22,862 shares (Direct)

Footnotes (1)

1. Each restricted stock unit converts into one share of FOR common stock upon vesting. These shares are surrendered to issuer to cover withholding tax obligations of the shares vested on November 20, 2025. On November 20, 2024, the reporting person was granted 17,710 restricted stock units, vesting in five annual installments beginning November 20, 2025.

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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^*

Walker Mark Stephen

(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 Operating 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		3,542	A	$0(1)	22,862	D
Common Stock	11/20/2025		F		1,578(2)	D	$23.22	21,284	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			5,880	(3)	(3)	Common Stock	5,880	$0	14,168	D

Explanation of Responses:

1. Each restricted stock unit converts into 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 17,710 restricted stock units, vesting in five annual installments beginning November 20, 2025.

Remarks:

	/s/ Ashley Dagley, Attorney-in-fact for Mark Stephen Walker	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) disclose on this Form 4?

The Form 4 reports the Chief Operating Officer acquiring 3,542 shares of Forestar common stock upon restricted stock unit conversion and surrendering 1,578 shares to cover withholding taxes on November 20, 2025.

How many Forestar (FOR) shares does the reporting officer own after the Form 4 transactions?

Following the reported transactions, the officer directly owns 21,284 shares of Forestar common stock and 14,168 restricted stock units.

Why were 1,578 Forestar (FOR) shares surrendered in this Form 4?

The 1,578 shares were surrendered to Forestar Group Inc. to cover withholding tax obligations related to shares that vested on November 20, 2025.

What is the background of the restricted stock units in the Forestar (FOR) Form 4?

On November 20, 2024, the officer was granted 17,710 restricted stock units, scheduled to vest in five annual installments beginning November 20, 2025.

What position does the reporting person hold at Forestar Group Inc. (FOR)?

The reporting person is identified as an Officer of Forestar Group Inc., holding the title of Chief Operating Officer.

At what prices were the Forestar (FOR) Form 4 transactions recorded?

The restricted stock unit conversion into 3,542 shares was recorded at $0 per share, and the 1,578 surrendered shares were valued at $23.22 per share.