X0306 4 2016-11-08 0 0001406587 Forestar Group Inc. FOR 0001417023 Powers William JR 6300 BEE CAVE ROAD BUILDING TWO, SUITE 500 AUSTIN TX 78746 1 0 0 0 Common Stock 2016-11-08 4 A 0 1891 0.00 A 71407 D Option (right to buy) 28.85 2009-02-12 2018-02-12 Common Stock 20000 20000 D Restricted Share Units Common Stock 34279 D Restricted share units accrued under a Company plan to be settled following Reporting Person's retirement. 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. David M. Grimm signing on behalf of William Powers, Jr. 2016-11-09