X0306 4 2013-05-14 0 0001406587 Forestar Group Inc. FOR 0001321211 Brown Kathleen 6300 BEE CAVE ROAD BUILDING TWO, SUITE 500 AUSTIN TX 78746 1 0 0 0 Common Stock 2013-05-14 4 A 0 911 0.00 A 28312 D Option (right to buy) 28.85 2009-02-12 2018-02-12 Common Stock 20000 20000 D Restricted Share Units Common Stock 1498 34392 D Restricted stock units accrued under a Company Plan to be settled following Reporting Person's retirement. In accordance with the Rights Agreement adopted by the Company on December 11, 2007, Preferred Stock Purchase Rights are deemed to be attached to the shares of Common Stock. Options Vesting Schedule for Options Granted 02/12/2008 - Exercise price is $28.85: Options Exerciserable 02/12/2009 - 6,500; Options Exerciserable 02/12/2010 - 6,500; Options Exerciserable 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. David M. Grimm signing on behalf of Kathleen Brown 2013-05-16