KB HOME — Director's Dealing 2014

Apr 7, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KB HOME (KBH)
CIK: 0000795266
Period of Report: 2014-04-03

Reporting Person: JASTROW KENNETH M II (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-04-04	Common Stock	M	3260	—	Acquired	70706	Direct
2014-04-04	Common Stock	D	3260	—	Disposed	67446	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-04-03	Non-Qualified Stock Option (Right to Buy)	$17.6	A	9157	Acquired	2024-04-03	Common Stock (9157.0)	Direct
2014-04-03	Common Stock Unit	$	A	3835	Acquired		Common Stock (3835.0)	Direct
2014-04-04	Common Stock Unit	$	M	3260	Disposed		Common Stock (3260.0)	Direct

Footnotes

F1: Each common stock unit was the economic equivalent of one share of KB Home common stock, and was settled in cash at the price of KB Home's common stock on April 4, 2014 (which was $17.58 per share), as established at the time of the grant per the reporting person's election.

F2: Award of common stock options under the Amended and Restated KB Home Non-Employee Directors Compensation Plan, which award is exempt under Rule 16b-3.

F3: Award of common stock units under the Amended and Restated KB Home Non-Employee Directors Compensation Plan, which award is exempt under Rule 16b-3. Each stock unit represents the right to receive a payment equal to the fair market value of one share of the issuer's common stock, vests one year from the date of grant and, per the reporting person's election, is to be paid out in one share of the issuer's common stock.