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Filing Details

Accession Number:: 0000902691-11-000010
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-11-18 16:41:05
Reporting Period:: 2011-11-17

Filing Date:: 2011-11-18
Accepted Time:: 2011-11-18 16:41:05
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
773141	Mdc Holdings Inc	MDC	Operative Builders (1531)	840622967

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
902691	A Larry Mizel	4350 S. Monaco Street Suite 500 Denver CO 80237	Chairman Of The Board And Ceo	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock $.01 Par Value	Acquisiton	2011-11-17	432,575	$18.47	652,575	No	4	M	Direct
Common Stock $.01 Par Value	Disposition	2011-11-17	432,575	$18.76	220,000	No	4	S	Direct
Common Stock $.01 Par Value	Disposition	2011-11-17	600,000	$0.00	0	No	5	J	Indirect	By CLCD No. 2, LLC
Common Stock $.01 Par Value	Acquisiton	2011-11-17	600,000	$0.00	972,837	No	5	J	Indirect	By ARI Capital Partners, LLLP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct
No	5	J	Indirect	By CLCD No. 2, LLC
No	5	J	Indirect	By ARI Capital Partners, LLLP

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock $.01 Par Value	Non-Statutory Stock Option (right to buy)	Disposition	2011-11-17	432,575	$0.00	432,575	$18.47

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2002-11-19	2011-11-19	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock $.01 Par Value	3,418	Indirect	By 401(k) Savings Plan
Common Stock $.01 Par Value	1,362,214	Indirect	By CGM Capital LLC
Common Stock $.01 Par Value	4,000,000	Indirect	By ARI Investment Partners VII LLC

Footnotes

Shares sold at an average sale price of $18.76. These shares were sold in multiple transactions at prices ranging from $18.76 to $18.92 inclusive. The reporting person undertakes to provide to M.D.C. Holdings, Inc., any security holder of M.D.C. Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
On November 17, 2011, CLCD No. 2, LLC ("CLCD2") distributed 600,000 shares to Reporting Person. Reporting Person may be deemed to have beneficial ownership of the shares held by CLCD2. The sole manager of CLCD2 is Reporting Person's spouse. Reporting Person has a 100% equity interest in CLCD2.
On November 17, 2011, the sole limited partner of Ari Capital Partners, LLLP (Ari Capital") contributed 600,000 shares to Ari Capital, which it had received from Reporting Person. Reporting Person may be deemed to have beneficial ownership of the shares held by ARI Capital. The sole general partner of Ari Capital is CVentures, Inc. ("CVentures"), a corporation, which has approximately a 0.5% partnership interest in Ari Capital. Reporting Person is the beneficiary of various trusts which own 50.6885% of the stock of CVentures. Also, Reporting Person is a director and president of CVentures and may be deemed to control the other 49.3115% of the common stock of CVentures. A trust, of which Reporting Person is the sole beneficiary, is the sole limited partner of Ari Capital, and has approximately a 99.5% partnership interest in Ari Capital. Reporting Person and Reporting Person's spouse are trustees of the trust.
Shares are held in Reporting Person's 401(k) Savings Plan account which changes on a daily basis.
Reporting Person may be deemed to have beneficial ownership of these shares held by CGM Capital LLC ("CGM Capital"). The sole manager of CGM Capital is CVentures. A trust, of which Reporting Person's spouse is the sole beneficiary, is the only other member of CGM Capital, and has a 99.98% equity interest in CGM Capital. Reporting Person is a trustee of this trust.
Reporting Person may be deemed to have beneficial ownerhsip of the shares held by ARI Investment Partners VII, LLC ("Ari LLC"). Ari Capital holds 100% of the outstanding LLC units in Ari LLC. CVentures is the sole manager of Ari LLC.
This option, under the Company's 2001 Equity Incentive Plan, became exercisable as to 25% of the shares covered thereby on November 19, 2002 and cumulatively as to an additional 25% on each of November 19, 2003, 2004 and 2005.