D.R. Horton and Forestar raise spending approval threshold to $45 million
On October 28, 2024, D.R. Horton and its subsidiary Forestar Group entered into an amended and restated stockholder's agreement that raises the Forestar capital expenditure approval thresholds from $20 million to $45 million. The thresholds will adjust annually based on the Case-Shiller home price index, and the charter changes need Forestar stockholder approval at its 2025 annual meeting. D.R. Horton owned about 62% of Forestar's common stock as of October 28, 2024.
Key points
- Approval thresholds for Forestar capital expenditures rise from $20 million to $45 million.
- Thresholds adjust each year using the S&P CoreLogic Case-Shiller U.S. National Home Price index, with no reduction if the index change is negative.
- Matching charter amendment goes to Forestar stockholders at its 2025 Annual Meeting; current charter terms apply until then.
- D.R. Horton owned approximately 62% of Forestar's outstanding common stock as of October 28, 2024.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 01, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.