Form 4: D.R. Horton Director M. Chad Crow Awarded Restricted Stock Units

D.R. Horton director M. Chad Crow received 1,445 restricted stock units that will vest over five years.

Summary

• M. Chad Crow, a director at D.R. Horton, Inc., was granted 1,445 restricted stock units on November 20, 2024.
• These restricted stock units represent a contingent right to receive one share of DHI common stock per unit upon vesting.
• The units will vest in five equal annual installments, starting on November 20, 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, which is generally positive for aligning director and shareholder interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The restricted stock units will vest over the next five years, starting November 20, 2025.

Industry Context

The granting of restricted stock units is a common practice for compensating directors and aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice in the real estate and construction industry.
• Companies like Lennar (LEN) and PulteGroup (PHM) also use equity-based compensation for their directors.
• The vesting schedule of five years is also typical for such grants, encouraging long-term alignment.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning director interests with long-term company performance.
• The director is incentivized to contribute to the company's success over the vesting period.

Next Steps

• The restricted stock units will vest annually over the next five years.
• The director will receive shares of DHI common stock as the units vest.

Key Dates

Keywords

Restricted Stock Units, D.R. Horton, Director Compensation, Equity Grant, Form 4, DHI