[Form 4] Meritage Homes Corporation Insider Trading Activity

Rhea-AI Filing Summary

Meritage Homes Corp. (MTH) – Form 4 filed 07/29/2025 reports director Dennis V. Arriola’s latest insider activity.

• 07/25/2025: Open-market purchase of 2,200 shares at $70 (≈$154 k).
• Dividend reinvestment: Added 20 shares on 12/31/24 at $77.21, 45 shares on 03/31/25 at $69.62 and 47 shares on 06/30/25 at $66.62.
• Post-transaction holdings: 9,512 common shares held indirectly in a living trust plus 3,200 unvested restricted stock units.

The filing reflects a net addition of 2,312 shares (≈+32% to the reported indirect stake). Although small relative to MTH’s float, an independent director buying on the open market is typically viewed as a confidence signal rather than routine compensation-linked activity.

Positive

• Director purchased 2,200 shares on the open market, indicating discretionary confidence rather than automatic vesting.
• Total indirect stake rose to 9,512 shares, enhancing board-shareholder alignment.
• Purchases occurred across multiple price points ($66-$77), suggesting conviction over a sustained period.

Negative

• Transaction size is immaterial relative to company market capitalization and trading volume, limiting financial impact.

Insights

Equity Analyst

TL;DR: Director’s $154 k open-market buy modest but directionally bullish; signals insider confidence, impact marginal on valuation.

Open-market purchases, as opposed to option exercises, often convey genuine conviction. The 2,200-share buy lifts Arriola’s indirect stake to 9,512 shares, aligning his economic exposure with shareholders. However, the dollar amount is immaterial versus Meritage’s daily trading liquidity and market cap; therefore price impact should be negligible. Still, insider buying after a ~10-15% price range ($66-$77) suggests the director views current valuation as attractive, a soft positive for sentiment.

Corporate Governance Specialist

TL;DR: Purchase executed under trust, not 10b5-1; governance optics positive, but scale too small to be material.

The transactions were not pre-set under Rule 10b5-1, indicating discretionary buying. Coupled with continuous DRIP participation, the pattern supports board-level alignment with long-term shareholders. No sales or option exercises were disclosed, reducing concerns about mixed signals. That said, volume represents less than 0.1 % of average daily volume; thus, governance benefit is reputational rather than financial.

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).

1. Name and Address of Reporting Person^*

ARRIOLA DENNIS V

(Last) (First) (Middle)

18655 NORTH CLARET DRIVE

SUITE 400

(Street)

SCOTTSDALE AZ 85255

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Meritage Homes CORP [ MTH ]

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)
12/31/2024

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
MTH Common Stock	12/31/2024		P		20	A	$77.21	7,220(1)	I	HELD IN TRUST
MTH Common Stock	03/31/2025		L		45	A	$69.62	7,265(1)	I	HELD IN TRUST
MTH Common Stock	06/30/2025		L		47	A	$66.62	7,312(1)	I	HELD IN TRUST
MTH Common Stock	07/25/2025		P		2,200	A	$70	9,512(2)(3)	I	HELD IN TRUST
MTH Common Shares								3,200(4)	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

Explanation of Responses:

1. Shares acquired through broker-administered dividend reinvestment program intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

2. Balance reflects all other holdings, including restricted stock units that have previously vested.

3. All shares are held in a living trust controlled by Mr. Arriola, and includes 6,200 shares previously reported as directly held by Mr. Arriola and 1,000 shares acquired upon the vesting of 1,000 restricted stock units on February 22, 2025 that were previously reported as directly held by Mr. Arriola.

4. Balance represents restricted stock units not vested.

Remarks:

	/s/ Alison Sasser, attorney-in-fact for Dennis V. Arriola	07/29/2025
	** 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

How many Meritage Homes (MTH) shares did Director Dennis V. Arriola buy?

2,200 shares were purchased on 07/25/2025 at $70 each, plus small DRIP additions totaling 112 shares.

What is Arriola’s total ownership in Meritage Homes after the transactions?

He indirectly owns 9,512 common shares in a trust and also holds 3,200 unvested RSUs.

Were any shares sold in this Form 4 filing?

No sales were reported; all listed transactions added to the director’s position.

Does the filing indicate use of a Rule 10b5-1 trading plan?

Dividend reinvestment buys satisfy 10b5-1(c), but the 2,200-share open-market purchase was discretionary, not under a preset plan.

Why is insider buying considered positive for MTH investors?

Discretionary insider purchases often signal management’s confidence that the stock is undervalued, potentially supporting market sentiment.