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: 2016-04-29

Reporting Person: HORTON DONALD R (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-29	Common Stock	M	150000	$29.44	Acquired	24977347	Direct
2016-04-29	Common Stock	S	149035	$29.8775	Disposed	24828312	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-29	Employee Stock Option (right to buy)	$29.44	M	150000	Disposed	2016-05-02	Common Stock (150000)	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 $29.605 to $30.135. 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. Horton owns directly 24,828,312 shares of DHI common stock. These transactions increased Mr. Horton's direct ownership by 965 shares.

F4: Stock option has a 10-year term, vested as to 20% of the option grant amount on the first five anniversary dates of May 2. May 2, 2007 reflects the one-year anniversary date from the date of the stock option grant.