Allen James Douglas 4

What Happened

• James Douglas, Chief Financial Officer of Forestar Group Inc. (FOR), had 4,505 restricted stock units (RSUs) vest on March 31, 2026. Those RSUs converted to 4,505 shares (exercise/conversion, code M) valued at $24.44/share.
• To cover withholding tax obligations, 1,667 of the vested shares were surrendered to the issuer (code F) at $24.44 each, producing proceeds of $40,741. After withholding, Douglas received a net 2,838 shares. The RSU conversion shows an effective exercise price of $0 (typical for RSUs).

Key Details

• Transaction date: March 31, 2026. Form filed April 2, 2026 (no late filing indicated in the record provided).
• Vested/conversion: 4,505 RSUs → 4,505 shares at $0 exercise price; reported market value used: $24.44/share (total value ≈ $110,102).
• Tax withholding: 1,667 shares surrendered at $24.44 = $40,741.
• Net shares received: 2,838 (approximate net value ≈ $69,361 based on $24.44/share).
• Shares owned after transaction: not stated in the excerpt provided.
• Footnotes: F1 clarifies each RSU converts to one share at vesting; F2 confirms shares were surrendered to cover withholding taxes; F3 notes these were part of a 22,523-RSU grant made March 31, 2022 vesting in five annual installments (4,505 is the annual installment).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion here), F = tax withholding/surrender of shares.

Context

• This was a routine RSU vesting event, not an open-market purchase or sale for investment purposes; the only "sale" was the surrender of shares to cover taxes (common in RSU vesting).
• The filing does not indicate a 10% owner or a 10b5-1 plan; it appears to be standard executive compensation vesting rather than a signal of a buy/sell decision.