Forestar Group Inc. — Director's Dealing 2015

Feb 13, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Forestar Group Inc. (FOR)
CIK: 0001406587
Period of Report: 2015-02-10

Reporting Person: DeCosmo James M (Director, CEO - President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-11	Common Stock	M	3252	$0.00	Acquired	115787	Direct
2015-02-11	Common Stock	D	3252	$14.10	Disposed	112535	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-10	Option (right to buy)	$14.08	A	50536	Acquired	2025-02-10	Common Stock (50536)	Direct
2015-02-11	Restricted Share Units	$	M	3252	Disposed		Common Stock (3252)	Direct
2015-02-10	Market Stock Units	$	A	50947	Acquired	2018-02-10	Common Stock (50947)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (right to buy)	$27.06	2016-02-03	Common Stock (6150)	6150	Direct
Option (right to buy)	$30.56	2017-02-02	Common Stock (6150)	6150	Direct
Option (right to buy)	$28.85	2018-02-12	Common Stock (74000)	74000	Direct
Option (right to buy)	$9.29	2019-02-10	Common Stock (59010)	59010	Direct
Option (right to buy)	$17.80	2020-02-09	Common Stock (32016)	32016	Direct
Option (right to buy)	$18.59	2021-02-08	Common Stock (54402)	54402	Direct
Option (right to buy)	$16.11	2022-02-14	Common Stock (59013)	59013	Direct
Option (right to buy)	$18.70	2023-02-14	Common Stock (53606)	53606	Direct
Stock Appreciation Right	$9.29	2019-02-10	Common Stock (100000)	31345	Direct
Stock Appreciation Right	$17.80	2020-02-09	Common Stock (37584)	37584	Direct
Restricted Share Units	$		Common Stock (8069)	8070	Direct
Restricted Share Units	$		Common Stock (3298)	6596	Direct
Market Stock Units	$	2015-02-14	Common Stock (29380)	29380	Direct
Market Stock Units	$	2016-02-12	Common Stock (26084)	26084	Direct
Market Stock Units	$	2017-02-11	Common Stock (16191)	16191	Direct

Footnotes

F1: Restricted stock units vested 02/11/2015. Restricted stock units are being settled for cash based on the fair market value on 02/11/2015.

F2: In accordance with the Rights Agreement adopted by the Company on December 11, 2007, Preferred Stock Purchase Rights are deemed to be attached to the shares of Common Stock.

F3: Options Vesting Schedule - Exercise price of $27.06: Options Exercisable 02/03/2007 - 1,537; Options Exercisable 02/03/2008 - 1,537; Options Exercisable 02/03/2009 - 1,537; and Options Exercisable 02/03/2010 - 1,537.

F4: Shares acquired in a pro rata distribution by Temple-Inland Inc. through a spin-off on or around December 28, 2007.

F5: Options Vesting Schedule - Exercise price of $30.56: Options Exercisable 02/02/2008 - 1,537; Options Exercisable 02/02/2009 - 1,537; Options Exercisable 02/02/2010 - 1,537; and Options Exercisable 02/02/2011 - 1,537.

F6: Options Vesting Schedule for Options Granted 02/12/2008 - Exercise price is $28.85: Options Exercisable 02/12/2009 - 18,500; Options Exercisable 02/12/2010 - 18,500; Options Exercisable 02/12/2011 - 18,500; Options Exercisable 02/12/2012 - 18,500.

F7: Vesting schedule for Options granted 02/10/2009 - Exercise price is $9.29: Options Exercisable 02/10/2010 - 14,752; Options Exercisable 02/10/2011 - 14,752; Options Exercisable 02/10/2012 - 14,753; and Options Exercisable 02/10/2013 - 14,753.

F8: Vesting schedule for Options granted 02/09/2010 - Exercise price is $17.80: Options Exercisable 02/09/2011 - 8,004; Options Exercisable 02/09/2012 - 8,004; Options Exercisable 02/09/2013 - 8,004; and Options Exercisable 02/09/2014 - 8,004.

F9: Vesting schedule for Options granted 02/08/2011 - Exercise price is $18.59: Options Exercisable 02/08/2012 - 13,600; Options Exercisable 02/08/2013 - 13,601; Options Exercisable 02/08/2014 - 13,600; and Options Exercisable 02/08/2015 - 13,601.

F10: Vesting schedule for Options granted 02/14/2012 - Exercise price is $16.11: Options Exercisable 02/14/2013 - 14,753; Options Exercisable 02/14/2014 - 14,753; Options Exercisable 02/14/2015 - 14,753; and Options Exercisable 02/14/2016 - 14,754.

F11: Vesting schedule for Options granted 02/12/2013 - Exercise price is $18.70: Options Exercisable 02/12/2014 - 13,401; Options Exercisable 02/12/2015 - 13,402; Options Exercisable 02/12/2016 - 13,401; and Options Exercisable 02/12/2017 - 13,402.

F12: Vesting schedule for Options granted 02/10/2015 - Exercise price is $14.08: Options Exercisable 02/10/2016 - 12,634; Options Exercisable 02/10/2017 - 12,634; Options Exercisable 02/10/2018 - 12,634; and Options Exercisable 02/10/2019 - 12,634.

F13: Vesting schedule for Stock Appreciation Rights (SARs) granted 02/10/2009 - Exercise price is $9.29: SARs Exercisable 02/10/2010 - 32,836; SARs Exercisable 02/10/2011 - 32,836; SARs Exercisable 02/10/2012 - 32,836; and SARs Exercisable 02/10/2013 - 32,837.

F14: Vesting schedule for Stock Appreciation Rights (SARs) granted 02/09/2010 - Exercise price is $17.80: SARs Exercisable 02/09/2011 - 9,396; SARs Exercisable 02/09/2012 - 9,396; SARs Exercisable 02/09/2013 - 9,396; and SARs Exercisable 02/09/2014 - 9,396. SARs will be settled for cash.

F15: Restricted share units granted on 02/14/2012 will vest as follows: 8,070 on 02/14/2013; 8,069 on 02/14/2014; 8,070 on 02/14/2015. Restricted share units will be settled for cash based on the fair market value on vesting date.

F16: Restricted share units granted on 02/12/2013 will vest as follows: 3,298 on 02/12/2014; 3,298 on 02/12/2015; 3,298 on 02/12/2016. Restricted share units will be settled for cash based on the fair market value on vesting date.

F17: Restricted share units granted on 02/11/2014 will vest as follows: 3,252 on 02/11/2015; 3,253 on 02/11/2016; 3,253 on 02/11/2017. Restricted share units will be settled for cash based on the fair market value on vesting date.

F18: Number of units received upon vesting will vary depending upon performance of Company stock over the performance period.