8-KOther Events

HORTON D R INC /DE/ 8-K Report, Corporate Update (Oct 13, 2020)

Filed October 13, 2020For Securities:DHI

Summary

This 8-K filing reports a significant event involving the Chairman of the Board, Donald R. Horton, and his wife, Martha Elizabeth Horton, regarding their beneficial ownership of D.R. Horton, Inc. (DHI) common stock. On October 5, 2020, the Hortons contributed approximately 23.9 million shares of DHI stock, held individually, to the Horton Family Limited Partnership for tax and estate planning purposes. This transaction rearranges the beneficial ownership structure of these shares but does not involve a sale of the stock.

Key Highlights

  • 1Donald R. Horton and Martha Elizabeth Horton contributed 23,903,508 shares of DHI common stock to the Horton Family Limited Partnership.
  • 2The contribution was made for tax and estate planning purposes and was effective October 5, 2020.
  • 3The Horton Family Partnership directly beneficially owns the contributed shares.
  • 4Donald Ryan Horton and Douglas Reagan Horton, the sons of Mr. and Mrs. Horton, are indirect beneficial owners with shared power to direct voting and disposition of the contributed shares.
  • 5Mr. and Mrs. Horton collectively retain a 99.99% limited partner interest in the Horton Family Partnership, including the contributed shares.
  • 6This transaction does not represent a sale of shares by the Hortons or related entities.
  • 7Relevant filings (Schedule 13D/A, Schedule 13G, Form 4) were made on October 13, 2020.

Frequently Asked Questions

No, the filing explicitly states that the contribution of shares to the Horton Family Limited Partnership did not involve the sale of any shares by Mr. Horton, Mrs. Horton, or any related entities.

While the shares are now held within the Horton Family Partnership, Donald R. Horton and Martha Elizabeth Horton collectively retain a 99.99% limited partner interest, meaning they continue to have significant economic interest. The shared power to direct voting and disposition of these shares now rests with their sons, Ryan Horton and Reagan Horton, as managing members of the general partner.

The primary reason stated for this contribution is for tax and estate planning purposes, aiming to restructure the beneficial ownership of a substantial block of DHI shares.

Yes, this event results in structural changes to beneficial ownership. The filing confirms that these changes have been reported on updated Schedule 13D/A, Schedule 13G, and Form 4 filings.