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NVRNVR, Inc. · Insider ownership research

NVR, Inc. insiders sold $9.0M in the past 12 months. How much of their stake is that?

About 0.5% of the shares they held or received (after tax withholding) during the period. The usual measure, against starting holdings alone, can't be used here because most of the shares sold arrived during the period.

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 59 of the 311 other companies we can measure (#253 of 312)See ranking
2
buyers among officers and directors (3 trades), past 12 months
0%
of sales were under disclosed trading plans, past 12 months
2 of 14
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:

Aug 7, 2026George Oliver bought 63 shares ($405K). The total stake went from 0 to 63 shares that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
George Oliver
Director
63$6431.51n/a63Aug 7, 2026Aug 11, 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: about one-twentieth of the 5-year average. 2 insiders sold; the average is 6 a year. Year by year
Latest filing: Filed Aug 11 for a purchase on Aug 7. George Oliver bought 63 shares ($405K). Filing
29 SEC ownership filings in the period · See the evidence

What stands out

Two directors bought shares: George Oliver (63 shares, $405K) and Michael DeVito (25 shares, $173K). These are the first by current officers or directors since Aug 10, 2022.George Oliver: purchase, Aug 7, 2026 · Michael DeVito: purchase, Nov 3, 2025
Two insiders sold $9.0M with no disclosed plan: Susan Ross ($5.0M) and Matthew Kelpy ($4.0M). The filings don't state a reason.Susan Ross: largest such sale, Feb 4, 2026 · Matthew Kelpy: largest such sale, Feb 10, 2026

Percentages cover 10 of 14 officers and directors. 4 are left out

i
Left out: Matthew Kelpy (holdings couldn't be fully reconciled); Sallie Bailey (most holdings were last confirmed in 2022); Michael DeVito and George Oliver (held no vested shares at the start).
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
Susan Ross
Director
Sold 50% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$5.0MNo plan disclosed
Matthew Kelpy
VP, Chief Accounting Officer
No bar: holdings couldn't be fully reconciled.
$4.0MNo 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: $9.0M no plan disclosed$9.0MFebMarAprMayJunJulAugSepOct

Common questions

Is the NVR, Inc. CEO selling stock?

No. Eugene Bredow reported no open-market sales in the past 12 months.

Why are NVR, Inc. 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 NVR, Inc. insiders buying?

Yes. 2 officers or directors reported 3 purchases in the past 12 months (Form 4 code P, which includes private purchases).

How much of their stake did NVR, Inc. insiders sell?

About 0.5% of the shares they held or received (after tax withholding) during the period. The usual measure, against starting holdings alone, can't be used here because most of the shares sold arrived during the period. 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 sold2 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Susan Ross
Director
$5.0M
620 shares
50%†
i
† Most of the shares Susan Ross sold arrived during the period, so this is shares sold as a share of the 386 held at the start plus the 858 received, less 0 withheld by the company for taxes.
No plan disclosed
Matthew Kelpy
VP, Chief Accounting Officer
$4.0M
500 shares
i
No percentage: holdings couldn't be fully reconciled.
No plan disclosed
The full ownership picture13 of 14 insiders fully reconciled · 13 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
Paul Saville
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Executive Chairman
115K0115Kno sales
Vesting, gifts, unvested awards and holding lines for Paul Saville
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested 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
DirectNVR, Inc. common stock106,860106,860
Profit Sharing TrustNVR, Inc. common stock4,5504,550
ESOP TrustNVR, Inc. common stock3,2573,257

Additional holdings last reported Feb 2, 2009, not confirmed since: 12,000 shares. Not included in any total or percentage on this page.

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
27,500$4475.53May 3, 2032$53.8M
2,619$5720.10May 13, 2036$1.9M

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Daniel Malzahn
Chief Financial Officer
15K015Kno sales
Vesting, gifts, unvested awards and holding lines for Daniel Malzahn
0shares vested or exercised
−3gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock13,79613,793
ESOP TrustNVR, Inc. common stock1,0371,037
Profit Sharing TrustNVR, Inc. common stock372372

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
9,050$4475.53May 3, 2032$17.7M
1,335$5720.10May 13, 2036$950K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Eugene Bredow
i
Minor difference of 3 shares. Difference is under 0.5% of holdings. Includes unvested RSUs, amount not disclosed.
Chief Executive Officer
2.9K03Kno sales
Vesting, gifts, unvested awards and holding lines for Eugene Bredow
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Includes unvested RSUs, amount not disclosed.
Held throughShare classOct 8, 2025Oct 8, 2026
Direct
includes unvested RSUs, amount not disclosed
NVR, Inc. common stock2,2282,228
trust for benefit of adult childrenNVR, Inc. common stock500500
ESOP TrustNVR, Inc. common stock163166
Profit Sharing TrustNVR, Inc. common stock0140

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
12,700$4475.53May 3, 2032$24.8M
2,619$5720.10May 13, 2036$1.9M

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Reconciliation: minor difference of 3 shares. Difference is under 0.5% of holdings.

William Rosier
Director
1.6K01.6Kno sales
Vesting, gifts, unvested awards and holding lines for William Rosier
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock1,5921,592

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Charles Andrews
Director
8290774no sales
Vesting, gifts, unvested awards and holding lines for Charles Andrews
0shares vested or exercised
−55gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock829774

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Susan Ross
Director
386−620624not meaningful
Vesting, gifts, unvested awards and holding lines for Susan Ross
+858shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock386624

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Matthew Kelpy
!
Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +4 shares on Feb 10, 2026 (ESOP Trust). See the filing Sales and other transactions for Matthew Kelpy are complete.
VP, Chief Accounting Officer
n/a−500n/an/a
Vesting, gifts, unvested awards and holding lines for Matthew Kelpy
+500shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +4 shares on Feb 10, 2026 (ESOP Trust). The balances below are as reported, not verified totals.

Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock208208
Profit Sharing TrustNVR, Inc. common stock3333
ESOP TrustNVR, Inc. common stock2226

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
1,500$4475.53May 3, 2032$2.9M
272$5720.10May 13, 2036$194K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

David Preiser
Director
2390204no sales
Vesting, gifts, unvested awards and holding lines for David Preiser
0shares vested or exercised
−35gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock239204

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
250$3022.99May 9, 2028$852K
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Melquiades Martinez
Director
1910162no sales
Vesting, gifts, unvested awards and holding lines for Melquiades Martinez
0shares vested or exercised
−29gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock191162

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
125$3022.99May 9, 2028$426K
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Alfred Festa
Director
1730173no sales
Vesting, gifts, unvested awards and holding lines for Alfred Festa
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock173173

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Alexandra Jung
Director
75075no sales
Vesting, gifts, unvested awards and holding lines for Alexandra Jung
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock7575

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
930$2450.00Dec 2, 2028$3.7M
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

Michael DeVito
Director
0025no sales
Vesting, gifts, unvested awards and holding lines for Michael DeVito
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock025

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
342$7385.66Jun 30, 2035$0
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

George Oliver
Director
0063no sales
Vesting, gifts, unvested awards and holding lines for George Oliver
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectNVR, Inc. common stock063

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
338$8034.66Sep 30, 2035$0
154$5720.10May 13, 2036$110K

Estimate: options held × ($6431.51 − strike price), using the most recent insider trade price on Form 4 (Aug 7, 2026), not a market close.

13 of 14 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (12 exactly, 1 with a minor or footnoted difference). For 1 we show sales but not holdings; the ! icon on that row explains why. Percentages cover 10 of 14 officers and directors. Left out: Matthew Kelpy (holdings couldn't be fully reconciled); Sallie Bailey (most holdings were last confirmed in 2022); Michael DeVito and George Oliver (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$9.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $9.0M across 1,120 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $9.0M

Sales with no 10b5-1 plan and no tax reference in the filing. $5.0M of it is Susan Ross. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Matthew Kelpy, Feb 10, 2026

Purchases · 2 buyers (3 trades)

2 officers and directors bought shares in this period, in 3 trades(Form 4 code P). Across all their filings on record there are 19 purchase trades.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Susan Ross
Director
620$5.0M0%55%Feb 4, 2026 to Feb 13, 2026
Matthew Kelpy
VP, Chief Accounting Officer
500$4.0M0%45%Feb 10, 2026 to Feb 10, 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$9.0M$0$0$9.0M
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: about one-twentieth of the 5-year average. 2 insiders sold; the average is 6 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
1.1K2$9.0M
Oct 8, 2025
1 year earlier
3.4K5$29.2M
Oct 8, 2024
2 years earlier
37K10$251M
Oct 9, 2023
3 years earlier
67K8$382M
Oct 9, 2022
4 years earlier
5.3K2$24.4M
Oct 9, 2021
5 years earlier
13K6$60.6M

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 uncertainty1 insider whose holdings couldn't be fully reconciled

Matthew Kelpy: holdings couldn't be fully reconciled (difference of 4 shares). Balance changed with no matching transaction and no footnote: +4 shares on Feb 10, 2026 (ESOP Trust). Filing, Feb 10, 2026

Eugene Bredow: minor difference of 3 shares. Difference is under 0.5% of holdings.

Inferred rename: "Inman GRAT" is treated as the same holder as "Inman GRAT II", because the old name was never reported again and the new one opened with the same balance (4,875 shares). Old name, new name

Inferred rename: "trust for benefit of adult child" is treated as the same holder as "trust for benefit of adult son", because the old name was never reported again and the new one opened with the same balance (2,412 shares). Old name, new name

Inferred rename: "UGMA for child" is treated as the same holder as "child", because the old name was never reported again and the new one opened with the same balance (1,000 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 methodology898 filings from SEC EDGAR, and how we read them

All 898 Forms 3, 4 and 5 filed for NVR, Inc. (SEC CIK 906163) from Jul 22, 2003 to Aug 11, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.

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 (17)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Thomas EckertFeb 13, 2025550 shares, last reported balance as of Feb 11, 2025
William MoranOct 18, 202125,306 shares, last reported balance as of Oct 13, 2021
Manuel JohnsonAug 30, 2021465 shares, last reported balance as of Aug 27, 2021
Dwight ScharMar 12, 202172,470 shares, last reported balance as of Feb 5, 2020
Paul PrayloFeb 3, 2021302 shares, last reported balance as of Feb 1, 2021
Jeffrey MartchekFeb 24, 20205,484 shares, last reported balance as of Feb 21, 2020
Eddie GrierFeb 12, 2020175 shares, last reported balance as of Feb 11, 2020
Robert HenleyFeb 14, 20191,385 shares, last reported balance as of Feb 13, 2019
Timothy DonahueDec 18, 20181,238 shares, last reported balance as of Dec 14, 2018
Paul WhetsellMay 4, 20171,058 shares, last reported balance as of May 3, 2017
Robert ButlerFeb 26, 20151,111 shares, last reported balance as of Feb 25, 2015
John ToupsApr 30, 20138,701 shares, last reported balance as of Apr 29, 2013
Dennis SeremetFeb 8, 201344,108 shares, last reported balance as of Feb 7, 2013
Robert GoetheJul 2, 2012447 shares, last reported balance as of Jun 29, 2012
William InmanFeb 16, 201096,277 shares, last reported balance as of Feb 12, 2010
Scott Bartlett Jr.Feb 25, 20091,280 shares, last reported balance as of Feb 24, 2009
George SlyeJan 17, 20088,500 shares, last reported balance as of Jan 16, 2008