Malzahn Daniel David 4

What Happened
Daniel David Malzahn, Chief Financial Officer of NVR, Inc., received a grant of 1,335 time‑based stock options on May 14, 2026. The Form 4 lists the award as 1,335 derivative shares at $0.00 (no cash paid). Per the filing footnote, he also received an equal number (1,335) of performance‑based options, so the maximum potential award is 2,670 options. These are option awards under the NVR, Inc. 2018 Equity Incentive Plan and are subject to vesting — they are not immediate stock purchases or sales.

Key Details

• Transaction date: 2026-05-14; Form 4 filed 2026-05-18 (filed within the two business‑day window).
• Transaction type/code: Grant/Award of derivatives (options) — reported as A.
• Quantity: 1,335 time‑based options granted; plus 1,335 performance‑based options (footnote).
• Price: $0.00 reported (award grant, no cash exchanged).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote (F1): Time‑based options granted under the 2018 Equity Incentive Plan; matching performance‑based options vest on the same schedule but only if the company meets return‑on‑capital performance targets for 2026–2028.
• Filing timeliness: Timely (filed on the second business day after the grant).

Context
These are option awards (derivatives), not issued common shares — they give the right to buy shares in the future if vesting and any exercise conditions are met. Performance‑based options add a contingency tied to return‑on‑capital goals through 2028, so not all granted options may vest. Option grants are routine compensation for executives and do not, by themselves, indicate immediate buying or selling sentiment.