Murray Michael J 4

What Happened

• Michael J. Murray, EVP and COO of Horton (DHI), had 2,232 restricted stock units (RSUs) convert into common shares on March 17, 2026. To cover tax withholding on the vesting, 908 of those shares were surrendered to the issuer at an assessed value of $142.14 per share (total ~$129,063). The net result was the conversion of RSUs with shares withheld for taxes (cashless/withholding settlement), leaving Murray with the remainder.

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 18, 2026 (timely).
• RSUs converted: 2,232 shares (code M — exercise/conversion of derivative).
• Shares surrendered for tax withholding: 908 shares disposed (code F) at $142.14/share, total $129,063.
• Net shares delivered to Murray: 2,232 − 908 = 1,324 shares (implicit from the conversion and withholding).
• Post-transaction holdings (per filing footnote): directly owns 123,819 shares; indirectly beneficially owns 249,825 shares; indirectly holds 32,340 shares.
• Relevant footnotes: F1 — each RSU converts into one share; F2 — 908 shares surrendered to cover tax obligations from the March 17, 2021 grant; F4 — the original grant was 11,160 RSUs vesting in five annual installments starting March 17, 2022.

Context

• This was a routine RSU vesting with shares withheld to satisfy tax obligations (common practice), not an open-market sale or a buy. Such withholdings are administrative and do not necessarily indicate a change in insider sentiment.
• The filing shows conversion of derivative awards and tax withholding rather than a cash exercise or market trade.