Form 4: D.R. Horton EVP and COO Michael Murray Reports Stock Transactions

Michael Murray, EVP and COO of D.R. Horton, reports the vesting and subsequent sale of shares to cover tax obligations.

Summary

• On March 12, 2025, Michael Murray, EVP and COO of D.R. Horton, exercised 4,949 restricted stock units, converting them into an equal number of common stock shares.
• Simultaneously, 1,977 shares were surrendered to cover tax obligations at a price of $128.67 per share.
• Following these transactions, Murray directly owns 81,407 shares, indirectly owns 249,825 shares through a limited partnership, and indirectly holds 31,630 shares through a foundation.
• The restricted stock units were granted on March 12, 2020, and vested in five annual installments.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time, similar to the arrangement for Michael Murray.
• The practice of surrendering shares to cover tax obligations upon vesting is a standard procedure in executive compensation.
• Monitoring insider transactions is a common practice for investors to gauge executive sentiment and potential future actions.

Key Dates