NVR INC — Director's Dealing 2011

Feb 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVR INC (NVR)
CIK: 0000906163
Period of Report: 2011-02-24

Reporting Person: BUTLER ROBERT C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	NVR, Inc. common stock	M	3400	$369.75	Acquired	4348	Direct
2011-02-24	NVR, Inc. common stock	S	3400	$713.65	Disposed	948	Direct
2011-02-25	NVR, Inc. common stock	M	1600	$369.75	Acquired	2548	Direct
2011-02-25	NVR, Inc. common stock	S	1600	$716.95	Disposed	948	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	Employee stock option (right to buy)	$369.75	M	3400	Disposed	2012-04-30	common stock (3400)	Direct
2011-02-25	Employee stock option (right to buy)	$369.75	M	1600	Disposed	2012-04-30	common stock (1600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
NVR, Inc. common stock	150	Indirect

Footnotes

F1: Stock options granted under the 1998 Directors Long-Term Stock Option Plan vested in 25% increments on December 31, 2006, 2007, 2008 and 2009.