Form 4: D.R. Horton Executive Chairman Reports Future Stock Transactions

D.R. Horton's Executive Chairman, David V. Auld, reported future transactions including the acquisition of common stock and restricted stock units related to performance bonuses, and a disposition to cover tax obligations, effective October 29, 2025.

Summary

• David V. Auld, Executive Chairman and Director of D.R. Horton, Inc. (DHI), reported several stock transactions effective October 29, 2025.
• Transactions included the acquisition of 191,667 shares of DHI common stock resulting from the exercise or conversion of restricted stock units.
• An additional 8,483 shares of DHI common stock were acquired.
• Both acquisitions totaling 200,150 shares represent payment or settlement related to performance bonuses for the period ending September 30, 2025.
• 82,096 shares of DHI common stock were disposed of at a price of $151.06 per share to cover tax obligations associated with the acquired performance bonus shares.
• Mr. Auld also acquired 39,720 restricted stock units, which will vest in three equal annual installments beginning October 29, 2026.
• Following these transactions, Mr. Auld directly owns 933,726 shares of DHI common stock.
• Mr. Auld ceased to be the indirect beneficial owner of DHI common stock held by Trusts of his children and no longer reports these securities as beneficially owned.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to executive compensation, including performance-based stock awards and tax-related dispositions. There are no indications of unusual activity or significant shifts in company outlook.

Positives

• Acquisition of 200,150 shares of DHI common stock as a result of performance bonuses, indicating successful achievement of performance targets.
• Acquisition of 39,720 new restricted stock units, aligning executive incentives with future company performance.

Negatives

• Disposition of 82,096 shares of DHI common stock to cover tax obligations, reducing direct share ownership.
• Cessation of reporting indirect beneficial ownership of DHI common stock held by Trusts of his children, which reduces the total reported beneficial ownership.

Future Outlook

The 39,720 restricted stock units acquired by Mr. Auld are scheduled to vest in three equal annual installments, commencing on October 29, 2026, providing a future incentive tied to company performance.

Management Comments

• The acquired common stock represents payment or settlement related to performance bonuses for the period ending September 30, 2025.
• Shares were surrendered to the issuer to cover tax obligations associated with the performance bonus shares.

Industry Context

This Form 4 filing details routine insider transactions related to executive compensation, specifically performance-based stock awards and tax-related dispositions. Such filings are common across publicly traded companies as part of executive incentive programs.

Related Party Transactions

• Mr. Auld ceased to be the indirect beneficial owner of DHI common stock held by Trusts of his children and no longer reports any securities held by these Trusts as beneficially owned.

Stakeholder Impact

• Shareholders: The transactions represent routine executive compensation and tax management, with minimal direct impact on the broader shareholder base.
• Management/Employees: The performance bonus awards demonstrate the company's compensation structure for executives, potentially influencing employee morale and retention.

Next Steps

• Vesting of 39,720 restricted stock units in three equal annual installments, beginning October 29, 2026.

Key Dates

Keywords

DHI, D.R. Horton, David V. Auld, Form 4, insider trading, executive compensation, stock awards, restricted stock units, performance bonus, tax obligations