NVR INC — Director's Dealing 2018

May 14, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVR INC (NVR)
CIK: 0000906163
Period of Report: 2018-05-10

Reporting Person: MORAN WILLIAM A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-10	Stock option (right to buy)	$3022.99	A	500	Acquired	2028-05-09	Common stock (500.0)	Direct

Footnotes

F1: Stock options granted under the NVR, Inc. 2018 Equity Incentive Plan vest in 25% increments on 12/31/20, 12/31/21, 12/31/22 and 12/31/23.

F2: Time-based stock options granted under the NVR, Inc. 2018 Equity Incentive Plan. The director also received performance-based options for an equal number of shares. The performance-based options will vest on the same terms as the time-based options, subject to an additional requirement that vesting of the options is based on the Company's return on capital performance during 2018 through 2020.