X0306 4 2014-11-07 0000085974 RYLAND GROUP INC RYL 0001214358 MILNE GORDON A 3011 TOWNSGATE ROAD SUITE 200 WESTLAKE VILLAGE CA 91361-3027 1 Executive Vice President Common Stock 2014-11-07 4 M 0 15000.0000 23.2700 A 149742.0000 D Common Stock 2014-11-07 4 S 0 15000.0000 36.9070 D 134742.0000 D Stock Options (Right to Buy) 23.2700 2014-11-07 4 M 0 15000.0000 23.2700 D 2011-03-01 2015-03-01 Common Stock 15000.0000 35000.0000 D The price reported in Column 4 is a weighted average price. The prices actually received ranged from $36.9000 to $36.9500. The reporting person will provide the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. The Stock Options vest in three equal installments on March 1, 2011, 2012 and 2013. Timothy J. Geckle, as Attorney-in-Fact for Gordon A. Milne 2014-11-10