Allen James Douglas 4

What Happened
Allen James Douglas, Chief Financial Officer of Forestar Group, had 1,991 restricted stock units (RSUs) vest on March 28, 2026. Those RSUs converted into 1,991 shares of FOR common stock (recorded as derivative exercises). To satisfy withholding tax obligations, 737 of the vested shares were surrendered to the issuer at an implied value of $24.81 per share, totaling $18,285. The net result was the conversion of RSUs into shares with a portion surrendered for taxes — a routine compensation-related transaction rather than an open-market purchase or sale.

Key Details

• Transaction date: March 28, 2026; Form 4 filed March 31, 2026 (appears timely).
• Converted/vested: 1,991 RSUs → 1,991 shares (recorded as derivative exercise, code M).
• Shares surrendered for tax withholding: 737 shares at $24.81/share → $18,285 (code F).
• Footnotes: F1 — each RSU converts to one share upon vesting; F2 — surrendered shares were to cover withholding taxes from the March 28, 2026 vesting; F3 — original grant of 9,953 RSUs on March 28, 2024 vesting in five annual installments beginning March 28, 2025.
• Shares owned after transaction: not disclosed in the filing.

Context
This was a vesting and tax-withholding event (common for RSU-based compensation). The filing shows no open-market sale or purchase by the CFO beyond the shares surrendered to cover taxes, so it should not be read as a directional buy/sell signal. The derivative entries reflect conversion of RSUs into shares and the subsequent withholding rather than an exercised option with an out-of-pocket cash exercise price.