X0306 4 2020-03-02 0000773141 MDC HOLDINGS INC MDC 0001193962 BUCHWALD HERBERT T 4350 S. MONACO STREET SUITE 500 DENVER CO 80237 1 0 0 0 Common Stock $.01 Par Value 2020-03-02 5 J 0 4697 0 D 0 D Common Stock $.01 Par Value 2020-03-02 5 J 0 4697 0 A 4697 I Herbert T. Buchwald, PA Common Stock $.01 Par Value 2020-03-02 4 S 0 4697 40.72 D 0 I Herbert T. Buchwald , PA Common Stock $.01 Par Value 19795 I By Buchwald Equity Fund, LLC Common Stock $.01 Par Value 105 I By BPR Management Corp. Vountary filing to show change in ownership from direct to indirect, which need not be reported. Rule 16a-13. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $40.21 to $41.21 inclusive. The reporting person undertakes to provide M.D.C. Holdings, Inc., any security holder of M.D.C. Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. Shares owned by a corporation in which the Reporting Person is the controlling shareholder. Shares owned by a limited liability company in which the Reporting Person is a managing member. Exhibit List: Exhibit 24 - Power of Attorney Herbert T. Buchwald 2020-03-03