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DFH

Dream Finders Homes, Inc.

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Tapewire entity
4812
SEC CIK
0001825088
Parsed reports
202

Last 12 months

Inside the activity.

8 purchase rows · 13 sale rows

Disclosed non-derivative P/S rows, by transaction month. Includes amendments and private transactions.
Monthly counts
MonthPurchasesSales
Nov 202500
Dec 202500
Jan 202602
Feb 202600
Mar 202600
Apr 202600
May 202602
Jun 202609
Jul 202600
Aug 202660
Sep 202620
Oct 202600

Latest available

Insider transactions

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateOwner / reported roleActivity / securityShares / unitsReported priceReported valueDetails
September 15, 2025 Filed Sep 17, 2025 20:55 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 10,720 $28.54 $305,948.80
Disclosure

SEC source: 0000897069-25-001477 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,917,052

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.11 to $28.88. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
September 05, 2025 Filed Sep 8, 2025 22:04 UTC SaleClass A common stock, par value $0.01 per share 41,940 $30.78 $1,290,913.20
Disclosure

SEC source: 0000897069-25-001444 · form4.xml · nonDerivative · entry 3

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,040,883

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $30.40 to $31.03. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
September 05, 2025 Filed Sep 8, 2025 22:04 UTC SaleClass A common stock, par value $0.01 per share 38,060 $29.99 $1,141,419.40
Disclosure

SEC source: 0000897069-25-001444 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,082,823

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $29.38 to $30.38. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
September 04, 2025 Filed Sep 5, 2025 21:50 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 3 $29.19 $87.57
Disclosure

SEC source: 0000897069-25-001435 · form4.xml · nonDerivative · entry 4

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,927,772

F5 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $29.17 to $29.21. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
September 04, 2025 Filed Sep 5, 2025 21:50 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 11,564 $28.86 $333,737.04
Disclosure

SEC source: 0000897069-25-001435 · form4.xml · nonDerivative · entry 3

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,927,775

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.16 to $29.15. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
September 04, 2025 Filed Sep 8, 2025 22:04 UTC SaleClass A common stock, par value $0.01 per share 20,000 $28.97 $579,400.00
Disclosure

SEC source: 0000897069-25-001444 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,120,883

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.70 to $29.19. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
September 03, 2025 Filed Sep 5, 2025 21:50 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 931 $28.25 $26,300.75
Disclosure

SEC source: 0000897069-25-001435 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,939,339

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.19 to $28.32. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
September 03, 2025 Filed Sep 5, 2025 21:50 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 6,628 $27.70 $183,595.60
Disclosure

SEC source: 0000897069-25-001435 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,940,270

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.14 to $27.99. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 27, 2025 Filed Aug 28, 2025 21:07 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 5,259 $28.09 $147,725.31
Disclosure

SEC source: 0000897069-25-001401 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,946,898

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.88 to $28.71. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 26, 2025 Filed Aug 28, 2025 21:07 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 5,686 $28.74 $163,415.64
Disclosure

SEC source: 0000897069-25-001401 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,952,157

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.48 to $29.11. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 13, 2025 Filed Aug 14, 2025 20:52 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 2,217 $28.59 $63,384.03
Disclosure

SEC source: 0000897069-25-001350 · form4.xml · nonDerivative · entry 4

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,957,843

F5 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $28.39 to $28.96. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 13, 2025 Filed Aug 14, 2025 20:52 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 5,913 $27.85 $164,677.05
Disclosure

SEC source: 0000897069-25-001350 · form4.xml · nonDerivative · entry 3

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,960,060

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.40 to $28.39. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 13, 2025 Filed Aug 14, 2025 20:52 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 2,722 $27.08 $73,711.76
Disclosure

SEC source: 0000897069-25-001350 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,965,973

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.39 to $27.30. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
August 12, 2025 Filed Aug 14, 2025 20:52 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 9,980 $25.62 $255,687.60
Disclosure

SEC source: 0000897069-25-001350 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,968,695

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $25.05 to $25.96. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 24, 2025 Filed Jul 25, 2025 21:15 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 2,395 $27.84 $66,676.80
Disclosure

SEC source: 0000897069-25-001203 · form4.xml · nonDerivative · entry 4

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,978,675

F5 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.63 to $28.11. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 24, 2025 Filed Jul 25, 2025 21:15 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 8,021 $26.99 $216,486.79
Disclosure

SEC source: 0000897069-25-001203 · form4.xml · nonDerivative · entry 3

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,981,070

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.60 to $27.59. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 24, 2025 Filed Jul 28, 2025 21:51 UTC SaleClass A common stock, par value $0.01 per share 21,904 $26.98 $590,969.92
Disclosure

SEC source: 0000897069-25-001225 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,140,883

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.68 to $27.20. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 24, 2025 Filed Jul 28, 2025 21:51 UTC SaleClass A common stock, par value $0.01 per share 28,172 $27.95 $787,407.40
Disclosure

SEC source: 0000897069-25-001225 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,162,787

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.82 to $27.96. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 23, 2025 Filed Jul 25, 2025 21:15 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 128 $29.05 $3,718.40
Disclosure

SEC source: 0000897069-25-001203 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,989,091

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $29.03 to $29.08. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 23, 2025 Filed Jul 25, 2025 21:15 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 10,288 $28.46 $292,796.48
Disclosure

SEC source: 0000897069-25-001203 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,989,219

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.94 to $28.77. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 22, 2025 Filed Jul 22, 2025 22:02 UTC SaleClass A common stock, par value $0.01 per share 44,992 $28.17 $1,267,424.64
Disclosure

SEC source: 0000897069-25-001190 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,190,959

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.70 to $28.34. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 18, 2025 Filed Jul 22, 2025 22:02 UTC SaleClass A common stock, par value $0.01 per share 6,512 $26.23 $170,809.76
Disclosure

SEC source: 0000897069-25-001190 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,235,951

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.02 to $26.86. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 17, 2025 Filed Jul 18, 2025 21:10 UTC SaleClass A common stock, par value $0.01 per share 22,889 $27.13 $620,978.57
Disclosure

SEC source: 0000897069-25-001184 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,242,463

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.94 to $27.42. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 16, 2025 Filed Jul 18, 2025 21:10 UTC SaleClass A common stock, par value $0.01 per share 25,607 $26.80 $686,267.60
Disclosure

SEC source: 0000897069-25-001184 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,265,352

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from 26.51 to $27.01. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 09, 2025 Filed Jul 10, 2025 21:14 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 723 $27.82 $20,113.86
Disclosure

SEC source: 0000897069-25-001168 · form4.xml · nonDerivative · entry 3

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 1,999,507

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $27.80 to $27.83. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 09, 2025 Filed Jul 10, 2025 21:14 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 9,964 $27.39 $272,913.96
Disclosure

SEC source: 0000897069-25-001168 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,000,230

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.78 to $27.78. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 08, 2025 Filed Jul 10, 2025 21:14 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 10,161 $26.19 $266,116.59
Disclosure

SEC source: 0000897069-25-001168 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,010,194

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $25.51 to $26.41. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
July 03, 2025 Filed Jul 7, 2025 21:05 UTC SaleClass A common stock, par value $0.01 per share 50,000 $26.17 $1,308,500.00
Disclosure

SEC source: 0000897069-25-001161 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,290,959

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.00 to $26.93. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
July 02, 2025 Filed Jul 7, 2025 21:05 UTC SaleClass A common stock, par value $0.01 per share 50,000 $26.79 $1,339,500.00
Disclosure

SEC source: 0000897069-25-001161 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,340,959

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.55 to $27.10. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
June 05, 2025 Filed Jun 6, 2025 21:49 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
OtherPrepaid Variable Forward Sale Contract · Derivative 1,000,000 Not disclosed Not disclosed
Disclosure

SEC source: 0000897069-25-001053 · form4.xml · derivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,000,000

Underlying: Class A Common Stock · 1,000,000 shares

Expires not disclosed

F1 · derivative.exercise_price: The reporting person entered into a prepaid variable forward sale contract with an unaffiliated third party buyer whereby the reporting person pledged an aggregate of 1,000,000 shares (the "Pledged Shares") of Dream Finders Homes, Inc. Class B common stock to secure its obligations under the contract, and retained dividend and voting rights in the Pledged Shares during the term of the pledge.

F2 · derivative.exercise_price: The contract obligates the reporting person to deliver to the buyer, on the applicable settlement date for each of the 10 components, up to one hundred percent (100%) of the number of Pledged Shares for such component or, at the reporting person's option, an equivalent amount of cash. The number of shares of Common Stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the closing price of the Common Stock on the designated valuation date for the applicable component within the period from 03/20/2029 to 04/03/2029 (each, a "Settlement Price") is less than or equal to $17.27 (the "Floor Price"), the reporting person will deliver to the buyer all of the Pledged Shares for the applicable component;

F3 · derivative.exercise_price: (Continued from Footnote 2) (b) if such Settlement Price is greater than the Floor Price but less than or equal to $37.78 (the "Cap Price"), the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of the Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is such Settlement Price and

F4 · derivative.exercise_price: (Continued from Footnote 3) (c) if such Settlement Price is greater than the Cap Price, the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price plus the excess of such Settlement Price over the Cap Price, and the denominator of which is such Settlement Price.

F5 · derivative.exercise_price: In connection with the entry into the forward contract described in Footnote (1), the reporting person is entitled to receive an upfront cash payment of $13,213,080.00.

F1 · kind: The reporting person entered into a prepaid variable forward sale contract with an unaffiliated third party buyer whereby the reporting person pledged an aggregate of 1,000,000 shares (the "Pledged Shares") of Dream Finders Homes, Inc. Class B common stock to secure its obligations under the contract, and retained dividend and voting rights in the Pledged Shares during the term of the pledge.

F2 · kind: The contract obligates the reporting person to deliver to the buyer, on the applicable settlement date for each of the 10 components, up to one hundred percent (100%) of the number of Pledged Shares for such component or, at the reporting person's option, an equivalent amount of cash. The number of shares of Common Stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the closing price of the Common Stock on the designated valuation date for the applicable component within the period from 03/20/2029 to 04/03/2029 (each, a "Settlement Price") is less than or equal to $17.27 (the "Floor Price"), the reporting person will deliver to the buyer all of the Pledged Shares for the applicable component;

F3 · kind: (Continued from Footnote 2) (b) if such Settlement Price is greater than the Floor Price but less than or equal to $37.78 (the "Cap Price"), the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of the Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is such Settlement Price and

F4 · kind: (Continued from Footnote 3) (c) if such Settlement Price is greater than the Cap Price, the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price plus the excess of such Settlement Price over the Cap Price, and the denominator of which is such Settlement Price.

F5 · kind: In connection with the entry into the forward contract described in Footnote (1), the reporting person is entitled to receive an upfront cash payment of $13,213,080.00.

F1 · price: The reporting person entered into a prepaid variable forward sale contract with an unaffiliated third party buyer whereby the reporting person pledged an aggregate of 1,000,000 shares (the "Pledged Shares") of Dream Finders Homes, Inc. Class B common stock to secure its obligations under the contract, and retained dividend and voting rights in the Pledged Shares during the term of the pledge.

F2 · price: The contract obligates the reporting person to deliver to the buyer, on the applicable settlement date for each of the 10 components, up to one hundred percent (100%) of the number of Pledged Shares for such component or, at the reporting person's option, an equivalent amount of cash. The number of shares of Common Stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the closing price of the Common Stock on the designated valuation date for the applicable component within the period from 03/20/2029 to 04/03/2029 (each, a "Settlement Price") is less than or equal to $17.27 (the "Floor Price"), the reporting person will deliver to the buyer all of the Pledged Shares for the applicable component;

F3 · price: (Continued from Footnote 2) (b) if such Settlement Price is greater than the Floor Price but less than or equal to $37.78 (the "Cap Price"), the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of the Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price and the denominator of which is such Settlement Price and

F4 · price: (Continued from Footnote 3) (c) if such Settlement Price is greater than the Cap Price, the reporting person will deliver to the buyer the number of shares equal to one hundred percent (100%) of Pledged Shares for the applicable component multiplied by a fraction, the numerator of which is the Floor Price plus the excess of such Settlement Price over the Cap Price, and the denominator of which is such Settlement Price.

F5 · price: In connection with the entry into the forward contract described in Footnote (1), the reporting person is entitled to receive an upfront cash payment of $13,213,080.00.

F2 · derivative.exercise_date: The contract obligates the reporting person to deliver to the buyer, on the applicable settlement date for each of the 10 components, up to one hundred percent (100%) of the number of Pledged Shares for such component or, at the reporting person's option, an equivalent amount of cash. The number of shares of Common Stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the closing price of the Common Stock on the designated valuation date for the applicable component within the period from 03/20/2029 to 04/03/2029 (each, a "Settlement Price") is less than or equal to $17.27 (the "Floor Price"), the reporting person will deliver to the buyer all of the Pledged Shares for the applicable component;

F2 · derivative.expiration_date: The contract obligates the reporting person to deliver to the buyer, on the applicable settlement date for each of the 10 components, up to one hundred percent (100%) of the number of Pledged Shares for such component or, at the reporting person's option, an equivalent amount of cash. The number of shares of Common Stock to be delivered to the buyer on the settlement date (or on which to base the amount of cash to be delivered to the buyer on the settlement date) is to be determined as follows: (a) if the closing price of the Common Stock on the designated valuation date for the applicable component within the period from 03/20/2029 to 04/03/2029 (each, a "Settlement Price") is less than or equal to $17.27 (the "Floor Price"), the reporting person will deliver to the buyer all of the Pledged Shares for the applicable component;

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April 01, 2025 Filed Apr 2, 2025 18:01 UTC
Ramsay Lorena AnabelSenior VP and CFO
Tax withholdingClass A common stock, par value $0.01 per share 3,842 $22.42 $86,137.64
Disclosure

SEC source: 0000897069-25-000759 · form4.xml · nonDerivative · entry 1

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 180,371

F1 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

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April 01, 2025 Filed Apr 2, 2025 22:04 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
Tax withholdingClass A common stock, par value $0.01 per share 13,927 $22.42 $312,243.34
Disclosure

SEC source: 0000897069-25-000761 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,020,355

F1 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

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March 21, 2025 Filed Mar 21, 2025 22:06 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 49,487 $23.66 $1,170,862.42
Disclosure

SEC source: 0000897069-25-000676 · form4.xml · nonDerivative · entry 3

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,390,959

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $23.37 to $23.94. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

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March 20, 2025 Filed Mar 21, 2025 22:06 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 19,457 $24.92 $484,868.44
Disclosure

SEC source: 0000897069-25-000676 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,440,446

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $24.73 to $25.54. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

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March 19, 2025 Filed Mar 21, 2025 22:06 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 40,483 $24.55 $993,857.65
Disclosure

SEC source: 0000897069-25-000676 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,459,903

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $24.09 to $25.04. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

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March 13, 2025 Filed Mar 14, 2025 20:43 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 989 $24.30 $24,032.70
Disclosure

SEC source: 0000897069-25-000607 · form4.xml · nonDerivative · entry 3

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,500,386

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $24.25 to $24.42 The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

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March 12, 2025 Filed Mar 14, 2025 16:38 UTC
Ramsay Lorena AnabelSenior VP and CFO
SaleClass A common stock, par value $0.01 per share 1,029 $24.49 $25,200.21
Disclosure

SEC source: 0000897069-25-000604 · form4.xml · nonDerivative · entry 1

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 184,213

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March 12, 2025 Filed Mar 14, 2025 20:43 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 2,556 $25.62 $65,484.72
Disclosure

SEC source: 0000897069-25-000607 · form4.xml · nonDerivative · entry 2

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,501,375

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $25.51 to $25.85. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

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March 12, 2025 Filed Mar 14, 2025 20:43 UTC
Lovett William Radford IIDirector · 10% owner
SaleClass A common stock, par value $0.01 per share 37,028 $24.54 $908,667.12
Disclosure

SEC source: 0000897069-25-000607 · form4.xml · nonDerivative · entry 1

Lovett William Radford II · CIK 0001545674 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 4,503,931

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $24.36 to $25.31. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · ownership.nature: Such shares of Class A Common Stock are owned directly by the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004. The reporting person is the sole trustee of the W. Radford Lovett II GST Exempt Trust u/a dated 12/28/2004.

Read SEC document
March 11, 2025 Filed Mar 12, 2025 21:16 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 103 $26.62 $2,741.86
Disclosure

SEC source: 0000897069-25-000574 · form4.xml · nonDerivative · entry 3

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,034,282

F4 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $26.61 to $26.62. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 11, 2025 Filed Mar 12, 2025 21:16 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 17,700 $26.06 $461,262.00
Disclosure

SEC source: 0000897069-25-000574 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,034,385

F3 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $25.58 to $26.55. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 10, 2025 Filed Mar 12, 2025 21:16 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
SaleClass A common stock, par value $0.01 per share 23,015 $26.29 $605,064.35
Disclosure

SEC source: 0000897069-25-000574 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 2,052,085

F1 · price: The price reported in Column 4 is a weighted average price. The prices sold ranged from $25.75 to $26.73. The reporting person will provide the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 08, 2025 Filed Mar 10, 2025 16:49 UTC
Ramsay Lorena AnabelSenior VP and CFO
Tax withholdingClass A common stock, par value $0.01 per share 5,185 $25.37 $131,543.45
Disclosure

SEC source: 0000897069-25-000562 · form4.xml · nonDerivative · entry 1

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 185,242

F1 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

Read SEC document
March 08, 2025 Filed Mar 10, 2025 20:51 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
Tax withholdingClass A common stock, par value $0.01 per share 48,348 $25.37 $1,226,588.76
Disclosure

SEC source: 0000897069-25-000564 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,075,100

F1 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 06, 2025 Filed Mar 7, 2025 17:23 UTC
Ramsay Lorena AnabelSenior VP and CFO
Tax withholdingClass A common stock, par value $0.01 per share 2,379 $24.93 $59,308.47
Disclosure

SEC source: 0000897069-25-000539 · form4.xml · nonDerivative · entry 3

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 190,427

F3 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

Read SEC document
March 06, 2025 Filed Mar 7, 2025 22:25 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
Tax withholdingClass A common stock, par value $0.01 per share 12,694 $24.93 $316,461.42
Disclosure

SEC source: 0000897069-25-000543 · form4.xml · nonDerivative · entry 2

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,123,448

F3 · kind: Withholding of shares upon vesting by the Company to satisfy tax liability.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 17:23 UTC
Ramsay Lorena AnabelSenior VP and CFO
GrantClass A common stock, par value $0.01 per share 18,657 $0.00 $0.00
Disclosure

SEC source: 0000897069-25-000539 · form4.xml · nonDerivative · entry 2

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 192,806

F2 · shares: The restricted stock will vest in five equal annual installments beginning on March 5, 2026 and each anniversary thereof.

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March 05, 2025 Filed Mar 7, 2025 17:23 UTC
Ramsay Lorena AnabelSenior VP and CFO
GrantClass A common stock, par value $0.01 per share 18,657 $0.00 $0.00
Disclosure

SEC source: 0000897069-25-000539 · form4.xml · nonDerivative · entry 1

Ramsay Lorena Anabel · CIK 0001842534 · Senior VP and CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 174,149

F1 · shares: The restricted stock will vest in three equal annual installments beginning on March 5, 2026 and each anniversary thereof.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 22:25 UTC
Zalupski Patrick O.Director · President and CEO · 10% owner
GrantClass A common stock, par value $0.01 per share 198,228 $0.00 $0.00
Disclosure

SEC source: 0000897069-25-000543 · form4.xml · nonDerivative · entry 1

Zalupski Patrick O. · CIK 0001841163 · Director · President and CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,136,142

F1 · shares: The restricted stock will vest in three equal annual installments beginning on March 5, 2026 and each anniversary thereof.

F2 · balance_after: Includes 6,141 shares held in a 401(k) account.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 17:43 UTC GrantClass A common stock, par value $0.01 per share 4,665 $0.00 $0.00
Disclosure

SEC source: 0000897069-25-000556 · form4.xml · nonDerivative · entry 1

Udelhofen Justin · CIK 0001841162 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,041

F1 · shares: The restricted stock will vest 100% on March 5, 2026.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.