HORTON D R INC /DE/ — Director's Dealing 2016

May 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HORTON D R INC /DE/ (DHI)
CIK: 0000882184
Period of Report: 2016-05-02

Reporting Person: Murray Michael J (EVP and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-02	Common Stock	M	3000	$29.44	Acquired	13344	Direct
2016-05-02	Common Stock	S	2944	$30.3355	Disposed	10400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-02	Employee Stock Option (right to buy)	$29.44	M	3000	Disposed	2016-05-02	Common Stock (3000)	Direct

Footnotes

F1: Shares sold to cover cost associated with option exercise and related withholding tax obligation.

F2: The price reported in Column 4 is a weighted average price. The prices actually received ranged from $30.334 to $30.34. The reporting person has provided to the issuer and will provide any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F3: Following all transactions listed on this Form 4, Mr. Murray owns directly 10,400 shares of DHI common stock. These transactions increased Mr. Murray's direct ownership by 56 shares.

F4: Stock option has a 10-year term, vested as to 10% of the option grant amount on the first nine anniversary dates of May 2 and vests as to the remaining 10% 9.75 years after the option grant date of May 2, 2006. May 2, 2007 reflects the one-year anniversary date from the date of the stock option grant.