Edgar Filing: Forestar Group Inc.

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Grimm David M

2. Issuer Name and Ticker or Trading Symbol
Forestar Group Inc. [FOR]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Chief Administrative Officer

(Last)

(First)

(Middle)

6300 BEE CAVE ROAD, BUILDING TWO, SUITE 500

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2014

(Street)

AUSTIN, TX 78746

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/11/2014		M		10,491 ⁽¹⁾	A	⁽¹⁾	44,025	D
Common Stock	02/11/2014		F		2,964	D	$ 18.96	41,061	D
Common Stock	02/12/2014		M		2,028 ⁽²⁾	A	$ 0	43,089	D
Common Stock	02/12/2014		D		2,028 ⁽²⁾	D	$ 19.11	41,061 ⁽³⁾	D
Common Stock								1,000	I	By Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (right to buy) ⁽⁴⁾ ⁽⁵⁾

$ 20.26

02/04/2006

02/04/2015

Common Stock

533

Option (right to buy) ⁽⁵⁾ ⁽⁶⁾

$ 27.06

02/03/2007

02/03/2016

Common Stock

1,708

Option (right to buy) ⁽⁵⁾ ⁽⁷⁾

$ 30.56

02/02/2008

02/02/2017

Common Stock

1,708

Option (right to buy) ⁽⁸⁾

$ 28.85

02/12/2009

02/12/2018

Common Stock

22,300

Option (right to buy) ⁽⁹⁾

$ 9.29

02/10/2010

02/10/2019

Common Stock

17,703

Option (right to buy) ⁽¹⁰⁾

$ 17.8

02/09/2011

02/09/2020

Common Stock

10,757

Option (right to buy) ⁽¹¹⁾

$ 18.59

02/08/2012

02/08/2021

Common Stock

20,772

Option (right to buy) ⁽¹²⁾

$ 16.11

02/14/2013

02/14/2022

Common Stock

24,142

Option (right to buy) ⁽¹³⁾

$ 18.7

02/12/2014

02/12/2023

Common Stock

24,366

Stock Appreciation Right ⁽¹⁴⁾

$ 17.8

02/09/2011

02/09/2020

Common Stock

12,628

Restricted Share Units ⁽¹⁵⁾

⁽¹⁵⁾

Common Stock

3,001

6,000

Restricted Share Units ⁽¹⁶⁾

⁽¹⁶⁾

02/12/2014

2,028

⁽¹⁶⁾

Common Stock

2,028

$ 0

4,054

Restricted Share Units ⁽¹⁷⁾

⁽¹⁷⁾

02/11/2014

5,537

⁽¹⁷⁾

Common Stock

5,537

$ 0

5,537

Market Stock Units

⁽¹⁸⁾

02/11/2014

9,845

⁽¹⁸⁾

02/08/2014

Common Stock

9,845

$ 0

Market Stock Units

⁽¹⁹⁾

02/14/2015

Common Stock

12,019

Market Stock Units

⁽¹⁹⁾

02/12/2016

Common Stock

11,856

Market Stock Units

⁽¹⁹⁾

02/11/2014

7,360

⁽¹⁹⁾

02/11/2017

Common Stock

7,360

$ 0

7,360

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Grimm David M 6300 BEE CAVE ROAD BUILDING TWO, SUITE 500 AUSTIN, TX 78746			Chief Administrative Officer

Signatures

David M. Grimm		02/13/2014
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents vesting of previously reported Market Stock Units.
(2)	Restricted stock units vested 02/12/2014. Restricted stock units are being settled for cash based on the fair market value on 02/12/2014.
(3)	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.
(4)	Options Vesting Schedule - Exercise price of $20.26: Options Exercisable 02/04/2007 - 266; Options Exercisable 02/04/2008 - 133; Options Exercisable 02/04/2009 - 134.
(5)	Shares acquired in a pro rata distribution by Temple-Inland Inc. through a spin-off on or around December 28, 2007.
(6)	Options Vesting Schedule - Exercise price of $27.06: Options Exercisable 02/03/2007 - 427; Options Exercisable 02/03/2008 - 427; Options Exercisable 02/03/2009 - 427; and Options Exercisable 02/03/2010 - 427.
(7)	Options Vesting Schedule - Exercise price of $30.56: Options Exercisable 02/02/2008 - 427; Options Exercisable 02/02/2009 - 427; Options Exercisable 02/02/2010 - 427; and Options Exercisable 02/02/2011 - 427.
(8)	Options Vesting Schedule for Options Granted 02/12/2008 - Exercise price is $28.85: Options Exercisable 02/12/2009 - 5,575; Options Exercisable 02/12/2010 - 5,575; Options Exercisable 02/12/2011 - 5,575; Options Exercisable 02/12/2012 - 5,575.
(9)	Vesting schedule for Options granted 02/10/2009 - Exercise price is $9.29: Options Exercisable 02/10/2010 - 4425; Options Exercisable 02/10/2011 - 4426; Options Exercisable 02/10/2012 - 4426; and Options Exercisable 02/10/2013 - 4426.
(10)	Vesting schedule for Options granted 02/09/2010 - Exercise price is $17.80: Options Exercisable 02/09/2011 - 2,689; Options Exercisable 02/09/2012 - 2,689; Options Exercisable 02/09/2013 - 2,689; and Options Exercisable 02/09/2014 - 2,690.
(11)	Vesting schedule for Options granted 02/08/2011 - Exercise price is $18.59: Options Exercisable 02/08/2012 - 5,193; Options Exercisable 02/08/2013 - 5,193; Options Exercisable 02/08/2014 - 5,193; and Options Exercisable 02/08/2015 - 5,193.
(12)	Vesting schedule for Options granted 02/14/2012 - Exercise price is $16.11: Options Exercisable 02/14/2013 - 6,035; Options Exercisable 02/14/2014 - 6,036; Options Exercisable 02/14/2015 - 6,035; and Options Exercisable 02/14/2016 - 6,036.
(13)	Vesting schedule for Options granted 02/12/2013 - Exercise price is $18.70: Options Exercisable 02/12/2014 - 6,091; Options Exercisable 02/12/2015 - 6,092; Options Exercisable 02/12/2016 - 6,091; and Options Exercisable 02/12/2017 - 6,092.
(14)	Vesting schedule for Stock Appreciation Rights (SARs) granted 02/9/2010 - Exercise price is $17.80: SARs Exercisable 02/9/2011 - 3,157; SARs Exercisable 02/9/2012 - 3,157; SARs Exercisable 02/9/2013 - 3,157; and SARs Exercisable 02/9/2014 - 3,157. SARs will be settled for cash.
(15)	Restricted share units granted on 02/14/2012 will vest as follows: 3,001 on 02/14/2013; 3,000 on 02/14/2014; 3,000 on 02/14/2015. Restricted share units will be settled for cash based on the fair market value on vesting date.
(16)	Restricted share units granted on 02/12/2013 will vest as follows: 2,028 on 02/12/2014; 2,027 on 02/12/2015; 2,027 on 02/12/2016. Restricted share units will be settled for cash based on the fair market value on vesting date.
(17)	Restricted share units granted on 02/11/2014 will vest as follows: 1,846 on 02/11/2015; 1,845 on 02/11/2016; 1,846 on 02/11/2017. Restricted share units will be settled for cash based on the fair market value on vesting date.
(18)	Vesting amount of Market Stock Units was determined based on the average closing stock price for forty trading days prior to the vest date and performance during the three-year performance period.
(19)	Number of units received upon vesting will vary depending upon performance of Company stock over the performance period.

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