KB HOME — Director's Dealing 2010

Jul 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KB HOME (KBH)
CIK: 0000795266
Period of Report: 2010-07-12

Reporting Person: MASUDA KELLY (SVP, Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-07-12	Common Stock	M	5527	—	Acquired	17151	Direct
2010-07-12	Common Stock	D	5527	$10.85	Disposed	11624	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-07-12	Phantom Share	$	M	5527	Disposed	2010-07-12	Common Stock (5527)	Direct

Footnotes

F1: Each phantom share was the economic equivalent of one share of KB Home common stock, and was settled in cash per the terms established at grant.