Form 4: Forestar Group Inc. Executive Chairman Donald J. Tomnitz Reports Stock Transactions
SEC Form 4 Filing
Donald J. Tomnitz, Executive Chairman of Forestar Group Inc., reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership.
Summary
- On March 31, 2024, Donald J. Tomnitz, Executive Chairman of Forestar Group Inc., vested 11,261 restricted stock units, each representing one share of FOR common stock.
- These units were part of a grant of 33,784 restricted stock units made on March 31, 2022, vesting in three annual installments starting March 31, 2023.
- To cover withholding tax obligations related to the vested shares, 4,167 shares were surrendered to the issuer at a price of $40.19 per share.
- Following these transactions, Tomnitz directly owns 106,369 shares of common stock and 10,001 restricted stock units.
- The report was filed on April 1, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/31/2022 | Reporting person was granted 33,784 restricted stock units, vesting in three annual installments beginning March 31, 2023. |
| 03/31/2023 | First annual installment of restricted stock units vests. |
| 03/31/2024 | Restricted stock units vested; shares surrendered for tax withholding. |
| 04/01/2024 | Date of Form 4 filing. |
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