KB HOME — Director's Dealing 2009

Apr 6, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KB HOME (KBH)
CIK: 0000795266
Period of Report: 2009-04-02

Reporting Person: NOGALES LUIS G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-04-02	Common Stock Unit	$0	A	4000	Acquired		Common Stock (4000)	Direct

Footnotes

F1: Annual award of Common Stock Units under the KB Home Non-Employee Directors Stock Plan, which award is exempt under Rule 16b-3. Each Common Stock Unit is a contract right to receive a cash payment equal to the fair market value of a share of the registrant's Common Stock upon the reporting person's leaving the registrant's Board of Directors.