[Form 4] NVR INC Insider Trading Activity

Rhea-AI Filing Summary

Insider option grant reported for NVR, Inc. Director George Oliver received an award of 338 stock options on 10/01/2025 under the NVR, Inc. 2018 Equity Incentive Plan. The options are exercisable for 338 shares of common stock and are reported as held directly by the reporting person. The grant vests in four equal 25% installments on 12/31/27, 12/31/28, 12/31/29 and 12/31/30. The reported conversion/exercise price is listed as $8,034.66 and the options have an exercisable/expiration schedule noted with an expiration date of 09/30/2035. The filing was submitted by an attorney-in-fact on behalf of the reporting person.

Positive

• Director received equity-based compensation: 338 stock options granted under the NVR, Inc. 2018 Equity Incentive Plan.
• Clear multi-year vesting schedule: Options vest 25% on each of 12/31/27, 12/31/28, 12/31/29 and 12/31/30, supporting retention.

Negative

• None.

Insights

Securities/Corporate Governance Analyst

TL;DR: A director received a modest equity grant with multi-year vesting, typical for retention alignment.

The Form 4 discloses a director-level grant of 338 stock options under the companys 2018 Equity Incentive Plan. The vesting schedule is specified clearly in the filing: four equal tranches at year-ends 2027 through 2030. The grant size, as reported, appears routine for director compensation plans and is structured to retain service through 2030. The filing shows direct ownership of the underlying 338 shares post-grant and an expiration date in 2035. No other transactions or dispositions are reported.

Compensation/Risk Specialist

TL;DR: Compensation award aligns director incentives with long-term performance via time-based vesting to 2030.

The disclosure specifies the awards terms: 338 options granted on 10/01/2025 with vesting in 25% increments on each of four year-ends and an indicated expiration of 09/30/2035. Such time-based vesting is a standard retention mechanism and does not, by itself, indicate unusual dilution or immediate cash impact. The Form 4 was filed by an attorney-in-fact, which is properly noted. The conversion/exercise price is reported in the form and should be cross-checked with company equity plan documents for interpretation of per-share economics.

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^*

Oliver George

(Last) (First) (Middle)

11700 PLAZA AMERICA DR.

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)
10/01/2025

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

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)	$8,034.66	10/01/2025		A		338		(1)	09/30/2035	Common stock	338	$0	338	D

Explanation of Responses:

1. Stock options were granted under the NVR, Inc. 2018 Equity Incentive Plan. These options vest in 25% increments on 12/31/27, 12/31/28, 12/31/29 and 12/31/30.

Remarks:

	Matthew B. Kelpy, Attorney-in-fact for George Oliver	10/01/2025
	** 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 did NVR director George Oliver report on Form 4 (NVR)?

The Form 4 reports a grant of 338 stock options to George Oliver on 10/01/2025 under the 2018 Equity Incentive Plan.

What is the vesting schedule for the options reported in the NVR Form 4?

The options vest in 25% increments on 12/31/2027, 12/31/2028, 12/31/2029 and 12/31/2030.

How many shares underlie the derivative award and when do they expire?

The derivative award underlies 338 shares of common stock and the filing lists an expiration date of 09/30/2035.

What exercise price is reported for the options in the Form 4?

The Form 4 lists a conversion/exercise price of $8,034.66 for the reported stock options.

Who signed or filed the Form 4 for George Oliver?

The filing was submitted by Matthew B. Kelpy, Attorney-in-fact for George Oliver on 10/01/2025.