HORTON D R INC /DE/ — Director's Dealing 2011

Sep 7, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HORTON D R INC /DE/ (DHI)
CIK: 0000882184
Period of Report: 2011-09-02

Reporting Person: HORTON DONALD R (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-09-02	Employee Stock Option (right to buy)	$9.97	A	300000	Acquired	2021-09-02	Common Stock (300000)	Direct

Footnotes

F1: Date reflects one-year anniversary date from the date of the stock option grant. The stock option grant was granted September 2, 2011, has a ten-year term and vests as to one-third of the option shares on the first three anniversary dates of September 2. Accordingly, on September 2, 2012, the initial one-third or 100,000 options will vest.

F2: There was no "price" associated with this option grant other than the "exercise price" reported in column 2 to Table II.