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DHID. R. Horton · Insider ownership research

D. R. Horton insiders sold $44K in the past 12 months. How much of their stake is that?

Less than 0.1% overall. As a group they ended with more shares than they started with. The biggest individual seller, Aron Odom, sold shares equal to 4.0% of starting holdings, but more vested, so the stake grew.

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 23 of the 311 other companies we can measure (#289 of 312)See ranking
0
buyers among officers and directors, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
1 of 12
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 8, 2026Michael Murray gave away 5K shares as a gift. That is 1.2% of the total stake held that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Michael Murray
EVP and COO
5,000n/a1.2%406KSep 8, 2026Sep 10, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Less than usual: less than one-twentieth of the 5-year average. 1 insider sold; the average is 6 a year. Year by year
Latest filing: Filed Sep 10 for a gift on Sep 8. Michael Murray gave away 5K shares. Filing
61 SEC ownership filings in the period · See the evidence

What stands out

Aron Odom sold 260 shares (4.0% of starting holdings), but 3.1K more vested, so the stake grew (from 6.5K to 8K).Largest sale, Feb 13, 2026
Tax withholding outweighed market sales: the company withheld $34.2M of officers' and directors' shares for taxes, against $44K sold on the open market. The largest was David Auld ($14.5M withheld).Largest withholding, Oct 29, 2025

Percentages cover all 12 officers and directors. Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
Aron Odom
SVP, Controller and PAO
Sold 4.0%, but 3.1K shares were added (mostly vesting), so the stake grew
4.0% · $44KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
OctNovDecJanFeb 2026: $44K no plan disclosed$44KFebMarAprMayJunJulAugSepOct

Common questions

Is the D. R. Horton CEO selling stock?

No. Paul Romanowski reported no open-market sales in the past 12 months.

Why are D. R. Horton insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any D. R. Horton insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did D. R. Horton insiders sell?

Less than 0.1% overall. As a group they ended with more shares than they started with. The biggest individual seller, Aron Odom, sold shares equal to 4.0% of starting holdings, but more vested, so the stake grew. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold1 officer or director: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Aron Odom
SVP, Controller and PAO
$44K
260 shares
4.0%No plan disclosed
The full ownership picture12 of 12 insiders fully reconciled · 12 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
David Auld
Executive Chairman, Director
1.05M01.18Mno sales
Vesting, gifts, unvested awards and holding lines for David Auld
+219Kshares vested or exercised
−10Kgifted (net of own trusts)
−96Kwithheld by the company for taxes
56K → 68Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock815,672942,341
Trusts of Mr. Auld's childrenCommon Stock233,700233,700
Michael Murray
i
Minor difference of -120 shares. Difference is under 0.5% of holdings.
EVP and COO
364K0406Kno sales
Vesting, gifts, unvested awards and holding lines for Michael Murray
+84Kshares vested or exercised
−12Kgifted (net of own trusts)
−46Kwithheld by the company for taxes
33K → 30Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock81,606123,968
Limited Partnership controlled by Mr. Murray and his wifeCommon Stock249,825249,825
Foundation controlled by Mr. Murray and members of his immediate familyCommon Stock32,34032,340

Reconciliation: minor difference of -120 shares. Difference is under 0.5% of holdings.

Bill Wheat
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
EVP and CFO
299K0337Kno sales
Vesting, gifts, unvested awards and holding lines for Bill Wheat
+58Kshares vested or exercised
0gifted (net of own trusts)
−33Kwithheld by the company for taxes
27K → 25Kunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock298,666336,544

Additional holdings last reported Sep 13, 2012, not confirmed since: 1,120 shares. Not included in any total or percentage on this page.

Paul Romanowski
President and CEO, Director
148K0200Kno sales
Vesting, gifts, unvested awards and holding lines for Paul Romanowski
+83Kshares vested or exercised
−3.3Kgifted (net of own trusts)
−49Kwithheld by the company for taxes
33K → 30Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock148,452200,055
Bradley Anderson
Director
36K037Kno sales
Vesting, gifts, unvested awards and holding lines for Bradley Anderson
+948shares vested or exercised
0gifted (net of own trusts)
2.9K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock35,82736,775
Maribess Miller
Director
21K022Kno sales
Vesting, gifts, unvested awards and holding lines for Maribess Miller
+948shares vested or exercised
0gifted (net of own trusts)
2.9K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock21,34422,292
Michael Buchanan
Director
9.3K09.6Kno sales
Vesting, gifts, unvested awards and holding lines for Michael Buchanan
+289shares vested or exercised
0gifted (net of own trusts)
2.9K → 2.6Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock1,1931,482
Mr. Buchanan's wifeCommon Stock8,1368,136
Benjamin Carson Sr.
Director
8.5K09.8Kno sales
Vesting, gifts, unvested awards and holding lines for Benjamin Carson Sr.
+1.3Kshares vested or exercised
0gifted (net of own trusts)
3.2K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock8,4639,752
Aron Odom
SVP, Controller and PAO
6.5K−2608K+25%
Vesting, gifts, unvested awards and holding lines for Aron Odom
+3.1Kshares vested or exercised
0gifted (net of own trusts)
−1.3Kwithheld by the company for taxes
8.3K → 7.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock6,4578,046
Chad Crow
Director
3980951no sales
Vesting, gifts, unvested awards and holding lines for Chad Crow
+553shares vested or exercised
0gifted (net of own trusts)
2.5K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock398951
Elaine Crowley
Director
2640817no sales
Vesting, gifts, unvested awards and holding lines for Elaine Crowley
+553shares vested or exercised
0gifted (net of own trusts)
2.5K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock264817
Barbara Smith
Director
2640817no sales
Vesting, gifts, unvested awards and holding lines for Barbara Smith
+553shares vested or exercised
0gifted (net of own trusts)
2.5K → 3.5Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock264817

12 of 12 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (11 exactly, 1 with a minor or footnoted difference). Percentages cover all 12 officers and directors. "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$44K of sales by plan status, purpose, seller and month

Officer and director open-market sales: $44K across 260 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $44K

Sales with no 10b5-1 plan and no tax reference in the filing. $44K of it is Aron Odom. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Aron Odom, Feb 13, 2026

Taxes

226,191 shares ($34.2M) were withheld by the company for taxes, which isn't a market sale.

Charitable gifts · 10K shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Aron Odom
SVP, Controller and PAO
260$44K0%100%Feb 13, 2026 to Feb 13, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$44K$0$0$44K
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: less than one-twentieth of the 5-year average. 1 insider sold; the average is 6 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
2601$44K
Oct 8, 2025
1 year earlier
41K4$7.3M
Oct 8, 2024
2 years earlier
43K6$6.6M
Oct 9, 2023
3 years earlier
171K6$18.4M
Oct 9, 2022
4 years earlier
130K8$13.6M
Oct 9, 2021
5 years earlier
68K5$5.5M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

Michael Murray: minor difference of -120 shares. Difference is under 0.5% of holdings.

Inferred rename: "Trust for Mr. Wheat's child" is treated as the same holder as "Trust of Mr. Wheat's child", because the old name was never reported again and the new one opened with the same balance (332 shares). Old name, new name

Inferred rename: "IRA of Mr. Tomnitz's wife" is treated as the same holder as "IRA of Mr. Tomnitz's spouse", because the old name was never reported again and the new one opened with the same balance (20,568 shares). Old name, new name

Inferred rename: "Son" is treated as the same holder as "Son (3)", because the old name was never reported again and the new one opened with the same balance (2,729 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,015 filings from SEC EDGAR, and how we read them

All 1,015 Forms 3, 4 and 5 filed for D. R. Horton (SEC CIK 882184) from Nov 12, 2002 to Sep 10, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages. 14 older filings exist only on paper and could not be read.

Probable 3-for-2 stock split on or before Jan 12, 2004 (split date stated in a footnote). Splits aren't reported as transactions; 6 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (16)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Barbara AllenNov 21, 2024No balance on record
Donald HortonApr 29, 20244,307,227 shares, last reported balance as of Apr 26, 2024
Michael HewattAug 29, 202211,000 shares, last reported balance as of Aug 25, 2022
Donald TomnitzMar 10, 2014622,599 shares, last reported balance as of Feb 10, 2014
Bobby ScottJan 28, 20145,333 shares, last reported balance as of Jan 24, 2014
Stacey DwyerNov 8, 201395,333 shares, last reported balance as of May 14, 2013
Richard GallandMar 7, 200813,451 shares, last reported balance as of May 8, 2007
Samuel FullerMay 10, 200737,649 shares, last reported balance as of May 8, 2007
Gordon JonesJul 18, 200647,627 shares, last reported balance as of Jul 14, 2006
Thomas NoonMay 11, 2006114,477 shares, last reported balance as of May 9, 2006
George SeagravesMay 4, 200618,214 shares, last reported balance as of May 3, 2006
Francine NeffJun 21, 200513,464 shares, last reported balance as of Jun 17, 2005
Richard BeckwittDec 17, 20032 shares, last reported balance as of Dec 16, 2003
Richard HortonNov 25, 20032 shares, last reported balance as of Nov 24, 2003
Terrill HortonNov 21, 20033 shares, last reported balance as of Nov 20, 2003
James SchulerNov 10, 20037,161,495 shares, last reported balance as of Oct 1, 2003