CARSON BENJAMIN SR 4

What Happened

• Benjamin Carson Sr, a director of Horton D R Inc. (DHI), had 93 restricted stock units (RSUs) convert into 93 shares on March 21, 2026 (reported on a Form 4 filed March 24, 2026). The filing shows an acquisition via exercise/conversion (code M) of 93 shares and a corresponding disposition of 93 shares at $0.00, indicating the shares were withheld to satisfy tax withholding rather than sold for cash. No cash proceeds are reported.

Key Details

• Transaction date: March 21, 2026; Form 4 filed March 24, 2026.
• Transaction type/codes: M (exercise/conversion of derivative); disposition reported at $0.00 (consistent with tax withholding).
• Shares involved: 93 acquired (conversion), 93 disposed (withheld).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Relevant footnotes:
  • F1: Each restricted stock unit (RSU) converts to one share of DHI common stock.
  • F2: The RSUs came from a grant dated March 21, 2024 of 465 RSUs vesting in five annual installments beginning March 21, 2025 (465/5 = 93 per installment).
• Filing timeliness: Form 4 was filed three days after the transaction date; the filing date is shown as March 24, 2026.

Context

• This was a routine vesting/conversion of RSUs with shares withheld to cover taxes (a common administrative action). It is not a market sale or a purchase that signals additional bullish insider buying. The M code here denotes conversion/exercise of a derivative (RSU conversion), and the $0.00 disposition is consistent with shares retained by the company to satisfy tax obligations.