Ross Susan Williamson 4

What Happened

• Susan Williamson, a director of NVR, exercised options to acquire 200 shares on 2026-02-05 by paying $1,700.00 per share (total cash cost $340,000). She then sold those 200 shares in an open-market transaction the same day at $8,091.62 per share, receiving $1,618,324. The filing also shows the related derivative interest (the option) was disposed of (reported at $0), consistent with the option being exercised.

Key Details

• Transaction date: 2026-02-05; Filing date: 2026-02-06 (timely filing).
• Exercise: 200 shares at $1,700.00/share — total $340,000 (cash paid).
• Sale: 200 shares at $8,091.62/share — total proceeds $1,618,324.
• Derivative: 200-option position reported disposed at $0 (reflects option conversion on exercise).
• Shares owned after the transaction: not specified in the Form 4 filing.
• Footnote: Options were granted under the 2014 Equity Incentive Plan and vesting occurred in 25% increments on 12/31/18, 12/31/19, 12/31/20, and 12/31/21.

Context

• This is effectively a same-day (cashless) exercise and sale: the insider exercised vested options, paid the strike, received shares, and sold them the same day — a common way to monetize vested equity.
• Such insider sales are routine and do not, by themselves, indicate the director’s broader view of the company.