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: BOLLENBACH STEPHEN F (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-04-02	Non-Qualified Stock Option (right to buy)	$14.55	A	37993	Acquired	2024-04-02	Common Stock (37993)	Direct

Footnotes

F1: Annual award of Common Stock Options under the KB Home Non-Employee Directors Stock Plan, which award is exempt under Rule 16b-3, and per the reporting person's election will be paid out in cash only, with the amount paid equal to the positive difference between their exercise price and the closing price of the registrant's Common Stock on the applicable exercise date.