Forestar Group Inc. filed a Form 8-K on October 28, 2026, disclosing the planned retirement of Executive Chairman Donald J. Tomnitz, the appointment of Anthony W. Oxley as his successor, the addition of new director Stacey H. Dwyer, and a board decision not to nominate Samuel R. Fuller for re-election in 2027.

Key Highlights

  • Tomnitz retirement: Donald J. Tomnitz informed the Board on October 28, 2026, that he will retire as Executive Chairman effective October 31, 2026.
  • Strategic Advisor Agreement: Tomnitz will receive a monthly fee of $41,667 through September 30, 2028, with outstanding restricted stock units and performance stock units continuing to vest under their terms.
  • Oxley appointment: Anthony W. Oxley, already President and CEO and a Board member, was appointed Executive Chairman effective November 1, 2026, while retaining his existing roles.
  • New director Dwyer: Stacey H. Dwyer, age 60, was appointed to the Board effective November 1, 2026, and will receive restricted stock units totaling $100,000 in value, vesting in equal amounts over three years.
  • Fuller not re-nominated: The Board determined Samuel R. Fuller will not be nominated for re-election at the Company's 2027 Annual Meeting of Stockholders; he will continue serving until that meeting.
  • Board composition: Following the changes, the Board will continue to consist of seven directors, six of whom are independent, according to the filing.

Leadership Transition Details at Forestar Group

According to the Form 8-K filed by Forestar Group Inc. (NYSE:FOR) on October 28, 2026, Donald J. Tomnitz notified the Board that day of his intent to retire from the Executive Chairman role, with the retirement taking effect October 31, 2026. The filing states that Forestar simultaneously entered into a Strategic Advisor Agreement with Tomnitz, under which he will provide transition services through September 30, 2028. The agreement is terminable at will by either party. During the advisory term, Tomnitz will receive $41,667 per month, continued vesting of his outstanding restricted stock units and performance stock units subject to applicable performance goals, and continued healthcare benefits. The filing also notes that Tomnitz agreed to confidentiality, non-competition, and non-solicitation covenants in favor of the Company.

The Board appointed Anthony W. Oxley, the Company's sitting President and Chief Executive Officer, to also serve as Executive Chairman beginning November 1, 2026. The filing states that Oxley was designated as Executive Chairman by D.R. Horton, Inc. pursuant to the Amended and Restated Stockholder's Agreement dated October 28, 2024, between the Company and D.R. Horton. Oxley will retain his roles as President and CEO concurrently with his new Executive Chairman duties.

The filing also discloses the appointment of Stacey H. Dwyer as a director, effective November 1, 2026, filling the vacancy created by Tomnitz's retirement. The Company describes Dwyer as a retired single-family real estate executive with over 35 years of experience in homebuilding and land development. Her career included more than 20 years with D.R. Horton from 1991 to 2014, roles at United Development Funding IV including Chief Financial Officer from January 2022 to April 2025, and co-founder and CFO of Starplex Real Estate Solutions from 2022 to 2025. Dwyer has been named to the Audit, Compensation, and Nominating and Governance Committees. The filing states she is a Certified Public Accountant and holds a Master of Science degree from the University of Texas at Arlington.

What Was Disclosed

Forestar Group's October 28, 2026 filing reported the retirement of Executive Chairman Tomnitz, Oxley's dual appointment as Executive Chairman and CEO, Dwyer's addition to the Board with a $100,000 RSU grant, and the Board's decision not to re-nominate Fuller in 2027.