Form 4: Forestar CEO Oxley Converts RSUs, Covers Taxes

Forestar Group Inc. CEO Anthony W. Oxley converted 5,880 restricted stock units into common stock and sold a portion to cover tax obligations.

Summary

• Anthony W. Oxley, Chief Executive Officer and Director of Forestar Group Inc. (FOR), reported transactions involving the company's common stock and restricted stock units (RSUs).
• On November 20, 2025, 5,880 restricted stock units vested and were converted into 5,880 shares of Forestar Group Inc. common stock.
• Concurrently, 2,314 shares of common stock were disposed of at a price of $23.22 per share to cover tax withholding obligations related to the vesting event.
• Following these transactions, Mr. Oxley directly beneficially owns 9,793 shares of common stock and indirectly owns 9,263 shares through The Anthony and Mary Oxley Revocable Trust.
• Mr. Oxley also holds 23,520 unvested restricted stock units directly.
• The original grant of 29,400 restricted stock units occurred on November 20, 2024, with vesting scheduled in five annual installments beginning November 20, 2025.

Sentiment

Score: 6

Explanation: The filing reports a routine insider transaction involving the vesting and conversion of restricted stock units, with a portion sold to cover tax obligations. This is a standard compensation event and does not indicate significant positive or negative sentiment regarding the company's performance.

Positives

• The vesting of restricted stock units represents a standard component of executive compensation, aligning management's interests with shareholders.
• Mr. Oxley's direct beneficial ownership of common stock increased by a net of 3,566 shares (5,880 acquired 2,314 disposed for taxes) as a result of the vesting and tax-related sale.

Negatives

• A portion of the vested shares (2,314 shares) was sold to cover tax liabilities, which reduces the total number of shares directly held by the CEO.

Future Outlook

The remaining 23,520 restricted stock units held by Mr. Oxley are expected to vest in four additional annual installments, following the initial vesting on November 20, 2025.

Industry Context

This filing is a routine insider transaction report and does not provide information directly related to broader industry trends or competitive landscape. It reflects standard executive compensation practices within publicly traded companies.

Stakeholder Impact

• Shareholders: Provides transparency on the Chief Executive Officer's equity holdings and compensation structure, which is a standard aspect of corporate governance.

Next Steps

• Future annual vesting installments of the remaining 23,520 restricted stock units held by Anthony W. Oxley.

Key Dates

Recommendation

This Form 4 details a routine vesting and tax-related sale of restricted stock units by the CEO. It does not provide new information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction is a standard part of executive compensation.

Keywords

Forestar Group Inc., FOR, Anthony W. Oxley, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU conversion, Stock vesting, CEO stock ownership, Tax withholding