Forestar Group Inc. — Director's Dealing 2016

Feb 11, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Forestar Group Inc. (FOR)
CIK: 0001406587
Period of Report: 2016-02-09

Reporting Person: Smith Richard M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-09	Common Stock	A	11941	$0.00	Acquired	66528	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (right to buy)	$20.99	2016-11-03	Common Stock (6666)	6666	Direct
Option (right to buy)	$28.85	2018-02-12	Common Stock (20000)	20000	Direct
Restricted Share Units	$		Common Stock ()	28621	Direct

Footnotes

F1: Restricted share units accrued under a Company Plan to be settled following Reporting Person's retirement. All restricted share units are vested except a portion of those granted on 02/09/2016 that will vest as follows: 2,180 on 05/10/2016; 2,180 on 08/09/2016; 2,180 on 11/08/2016.

F2: Options Vesting Schedule - Exercise price of $20.99: Options Exercisable 11/03/2007 - 2,666; Options Exercisable 11/03/2008 - 2,666; Options Exercisable 11/03/2009 - 1,333.

F3: Shares acquired in a pro rata distribution by Temple-Inland Inc. through a spin-off effective December 28, 2007.

F4: Options Vesting Schedule for Options Granted 02/12/2008 - Exercise price is $28.85: Options Exerciserable 02/12/2009 - 6,500; Options Exerciserable 02/12/2010 - 6,500; Options Exerciserable 02/12/2011 - 7,000.

F5: Restricted share units accrued under a Company plan to be settled in cash following Reporting Person's retirement. Restricted share units are vested on the date of grant and have the economic equivalent of one share of common stock.