KB HOME — Director's Dealing 2009

Oct 2, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KB HOME (KBH)
CIK: 0000795266
Period of Report: 2009-10-01

Reporting Person: MASUDA KELLY (SVP, Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-01	Common Stock	A	5668	—	Acquired	11624	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-10-01	Non-Qualified Stock Options (Right to Buy)	$15.44	A	36695	Acquired	2019-10-01	Common Stock (36695)	Direct

Footnotes

F1: Grant of restricted common stock that vests in full three years after date of grant.

F2: The stock options vest in three equal annual installments beginning on October 1, 2010.