NVR (NVR) Insider Exercise & Sale: 125 Shares Sold at $7,850.28

Rhea-AI Filing Summary

On 08/05/2025, director Susan Williamson Ross filed a Form 4 covering transactions in NVR, Inc. (NVR) common stock executed on 08/04/2025. She exercised 125 stock options at an exercise price of $1,700 (code M) and sold the same 125 shares into the market at $7,850.28 per share (code S). The paired exercise-and-sale generated an implied gross spread of roughly $770 k but left her net share count unchanged.

Post-transaction, Ross holds 386 common shares directly and 858 unexercised options under the 2014 Equity Incentive Plan. The filing contains no new equity grants, compensation changes or company-level financial data. Given the zero net change in ownership and the modest size relative to NVR’s multi-billion-dollar market cap, the activity appears routine portfolio management rather than a signal of changing insider sentiment.

Positive

• Director retains 386 shares, maintaining equity alignment with shareholders.
• 858 unexercised options remain, indicating continued long-term incentive exposure.

Negative

• Insider sale at $7,850.28 could be interpreted as profit-taking at a perceived peak price.

Insights

Financial Analyst

TL;DR: Director exercised 125 options and immediately sold, net shares unchanged; routine, neutral signal.

The transaction sequence converts options to cash while preserving Ross’s equity exposure through 386 shares and 858 remaining options. Selling into the market at >4.6× exercise price monetises value but does not reduce her net stake, mitigating bearish interpretation. Scale is immaterial to NVR’s float, so portfolio managers are unlikely to adjust models. Overall, the filing is informational with neutral investment impact.

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^*

Ross Susan Williamson

(Last) (First) (Middle)

11700 PLAZA AMERICA DRIVE

SUITE 500

(Street)

RESTON VA 20190

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NVR INC [ NVR ]

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)
08/04/2025

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
NVR, Inc. common stock	08/04/2025		M		125	A	$1,700	511	D
NVR, Inc. common stock	08/04/2025		S		125	D	$7,850.28	386	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
Stock option (right to buy)	$1,700	08/04/2025		M			125	(1)	07/27/2026	Common stock	125	$0	858	D

Explanation of Responses:

1. Stock options granted under the 2014 Equity Incentive Plan vest in 25% increments on 12/31/18, 12/31/19, 12/31/20 and 12/31/21.

Remarks:

	Matthew B. Kelpy, Attorney-in-fact for Susan Williamson Ross	08/05/2025
	** 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 activity did NVR (NVR) report on Form 4?

Director Susan Ross exercised 125 options at $1,700 and sold the resulting 125 shares at $7,850.28 on 08/04/2025.

Did the NVR director’s net share ownership change?

No. After exercising and selling, Ross still directly owns 386 common shares.

How many NVR options does the director still hold?

Ross retains 858 unexercised stock options under the 2014 Equity Incentive Plan.

Is this Form 4 likely to impact NVR’s stock price?

Given the small size relative to NVR’s float and net-zero share change, the filing is viewed as neutral.

What was the profit spread on the exercised options?

The option was exercised at $1,700 and shares sold at $7,850.28, implying a gross spread of about $6,150 per share.