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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
85974	Ryland Group Inc	RYL	Operative Builders (1531)	520849948

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1214409	L David Fristoe	3011 Townsgate Road Suite 200 Westlake Village CA 91361-3027	Senior Vice President	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2015-02-10	10,000	$16.52	53,569	No	4	M	Direct
Common Stock	Acquisiton	2015-02-10	6,667	$18.22	60,236	No	4	M	Direct
Common Stock	Disposition	2015-02-10	6,667	$44.00	53,569	No	4	S	Direct
Common Stock	Disposition	2015-02-10	10,000	$44.00	43,569	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options (Right to Buy)	Disposition	2015-02-10	10,000	$16.52	10,000	$16.52
Common Stock	Stock Options (Right to Buy)	Disposition	2015-02-10	6,667	$18.22	6,667	$18.22

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2012-03-01	2016-03-01	No	4	M	Direct
3,333	2013-03-01	2019-03-01	No	4	M	Direct

Footnotes

Includes 1,951 shares held by the Ryland Retirement Savings Opportunity Plan and allocated to the account of the Reporting Person pursuant to the conversion of shares of Series A ESOP Convertible Preferred Shares held by the Plan as required by Section 409(1)(3) of the Internal Revenue Code.
The Stock Options vest in three equal installments on March 1, 2012, 2013 and 2014.
The Stock Options vest in three equal installments on March 1, 2013, 2014 and 2015.