X0306 4 2017-05-09 0 0001406587 Forestar Group Inc. FOR 0001174282 RUBRIGHT JAMES A 6300 BEE CAVE ROAD BUILDING TWO, SUITE 500 AUSTIN TX 78746 1 0 0 0 Common Stock 2017-05-09 4 A 0 1436 0.00 A 96019 D Common Stock 2017-05-09 4 M 0 1448 0.00 A 97467 D Option (right to buy) 28.85 2009-02-12 2018-02-12 Common Stock 20000 20000 D Restricted Share Units Common Stock 39885 D Restricted Share Units 2017-05-09 4 M 0 1448 0.00 D Common Stock 1448 2896 D Restricted share units accrued under a Company plan to be settled following Reporting Person's retirement. Restricted share units vested 05/09/2017. Vesting schedule for Options granted 02/12/2008 - Exercise price is $28.85: Options Exercisable 02/12/2009 - 6,500; Options Exercisable 02/12/2010 - 6,500; and Options Exercisable 02/12/2011 - 7,000. Restricted share units accrued under a Company plan to be settled in cash following Reporting Person's retirement. Restricted share units are vested on the date of grant and have the economic equivalent of one share of common stock. Restricted share units granted on 02/14/2017 will vest as follows: 1,447 on 02/14/2017; 1,448 on 05/09/2017; 1,448 on 08/08/2017; 1,448 on 11/14/2017. Restricted share units will be settled with stock. Matthew S. Stark signing on behalf of James A. Rubright 2017-05-11