Exhibit 4.2



ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS#   . COMMON STOCK PAR VALUE $1.00 COMMON STOCK THIS CERTIFICATE IS TRANSFERABLE   IN CANTON, MA, JERSEY CITY, NJ AND COLLEGE STATION, TX Shares * * 000000 * *   * * * * * * * * * * * * * * * * * * * 000000 * * * * * * * * * * * * * * * *   * * * * * 000000 * * * * * * * * * * * * * * * * * * * * * 000000 * * * * * *   * * * * * * * * * * * * * * * 000000 * * * * * * * * * * * * * * Certificate   Number ZQ00000000 FORESTAR GROUP INC. INCORPORATED UNDER THE LAWS OF THE STATE   OF DELAWARE ** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David THIS CERTIFIES THAT Sample **** Mr. Alexander David   Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****   Mr. Alexander David Sample **** Mr. Alexander Alexander David SamMple ***R*   Mr. A.lexaSnderADavidMSampPle ***L* MrE. Alexan&der DavMid SamRple **S**   Mr.. AleSxandeAr DaMvid SamPple *L*** MEr. Alex&ander David Sample ****   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   Sample **** Mr. AlexandeMr DaviRd Sam.ple S**** MAr. AleMxandePr DavLid   SEample *&*** Mr. AMlexanRder DaSvid S.ampSle ***A* Mr.MAlexanPder   DLavidESample **** Mr. Alexander **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David SEE REVERSE FOR CERTAIN DEFINITIONS   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample ****   Mr. Sample is the owner of   **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***   *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****   000000**Shar*es****0*000Z00**SEhareRs****00O0000**ShHares**U**0000N00**SDhares*R***000E000**DShares**T**000H000**SOhares*U***000S000**AShareNs****00D0000**Shares****0   00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00   0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000   000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000   00**Shares****0Z0000E0**ShRares***O*000000*H*ShareUs****0N00000D**SharRes****0E0000D0**ShareAs****0N00000D**SharesZ****00E0000R**SharOes****0*000*00**Shares****00000   0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000   **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*   *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**   Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S   FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Forestar Group Inc.   (hereinafter called the “Company”), transferable on the books of the Company   in person or by duly authorized attorney, upon surrender of this Certificate   properly endorsed. This Certificate and the shares represented hereby, are   issued and shall be held subject to all of the provisions of the Certificate   of Incorporation, as amended, and the By-Laws, as amended, of the Company   (copies of which are on file with the Company and with the Transfer Agent),   to all of which each holder, by acceptance hereof, assents. This Certificate   is not valid unless countersigned and registered by the Transfer Agent and   Registrar. Witness the facsimile seal of the Company and the facsimile   signatures of its duly authorized officers. DATED DD-MMM-YYYY COUNTERSIGNED   AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND   REGISTRAR, Chief Executive Officer 2005 DELAWARE By Corporate Secretary   AUTHORIZED SIGNATURE CUSIP Holder ID Insurance Value Number of Shares DTC   Certificate Numbers 1234567890/1234567890 1234567890/1234567890   1234567890/1234567890 1234567890/1234567890 1234567890/1234567890   1234567890/1234567890 Total Transaction XXXXXX XX X XXXXXXXXXX 1,000,000.00   123456 12345678 123456789012345 PO BOX 43004, Providence, RI 02940-3004   Num/No. Denom. Total 1 2 3 4 5 6 7 1 2 3 4 5 6 1 2 3 4 5 6 MR A SAMPLE DESIGNATION   (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 CUSIP 346233 10 9 


    




 











. FORESTAR   GROUP INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO   REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE,   PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE   COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH   PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND   LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF   INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF   DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO   DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE   OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF   DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR   HIS LEGAL REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS   TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST   THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE.   THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN   RIGHTS AS SET FORTH IN THE TAX BENEFITS PRESERVATION PLAN BETWEEN FORESTAR   GROUP INC. (THE “COMPANY”) AND THE RIGHTS AGENT (INCLUDING ANY SUCCESSOR   RIGHTS AGENT) THEREUNDER, AS ORIGINALLY EXECUTED AND AS IT MAY BE AMENDED OR   RESTATED FROM TIME TO TIME, THE “TAX BENEFITS PRESERVATION PLAN”), THE TERMS   OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH IS   ON FILE AT THE PRINCIPAL OFFICES OF THE COMPANY. UNDER CERTAIN CIRCUMSTANCES,   AS SET FORTH IN THE TAX BENEFITS PRESERVATION PLAN, RIGHTS WILL BE EVIDENCED   BY SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS CERTIFICATE.   THE COMPANY WILL MAIL TO THE HOLDER OF THIS CERTIFICATE A COPY OF THE TAX   BENEFITS PRESERVATION PLAN, AS IN EFFECT ON THE DATE OF MAILING, WITHOUT   CHARGE, PROMPTLY AFTER RECEIPT OF A WRITTEN REQUEST THEREFOR. UNDER CERTAIN   CIRCUMSTANCES SET FORTH IN THE TAX BENEFITS PRESERVATION PLAN, RIGHTS ISSUED   TO, OR HELD BY, ANY PERSON THAT IS, WAS OR BECOMES AN ACQUIRING PERSON OR ANY   AFFILIATE OR ASSOCIATE THEREOF (AS SUCH TERMS ARE DEFINED IN THE TAX BENEFITS   PRESERVATION PLAN), WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR   BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID. (Cust) (Minor) (State)   (Cust) and not as tenants in common (Minor) (State) PLEASE INSERT SOCIAL   SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby   sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,   INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) Shares of the Common Stock   represented by the within Certificate, and do hereby irrevocably constitute   and appoint Attorney to transfer the said stock on the books of the within   named Company with full power of substitution in the premises. Dated: 20   Signature: Signature: Notice: The signature to this assignment must   correspond with the name as written upon the face of the certificate, in   every particular, without alteration or enlargement, or any change whatever.   The IRS requires that we report the cost basis of certain shares acquired   after January 1, 2011. If your shares were covered by the legislation and you   have sold or transferred the shares and requested a specific cost basis   calculation method, we have processed as requested. If you did not specify a   cost basis calculation method, we have defaulted to the first in, first out   (FIFO) method. Please visit our website or consult your tax advisor if you   need additional information about cost basis. If you do not keep in contact   with us or do not have any activity in your account for the time periods   specified by state law, your property could become subject to state unclaimed   property laws and transferred to the appropriate state. Signature(s)   Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED   BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan   Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE   GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The following   abbreviations, when used in the inscription on the face of this certificate,   shall be construed as though they were written out in full according to   applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN   ACT - ............................................Custodian   ................................................ TEN ENT - as tenants by the   entireties under Uniform Gifts to Minors   Act......................................................... JT TEN - as   joint tenants with right of survivorship UNIF TRF MIN ACT -   ............................................Custodian (until age   ................................) .............................under Uniform   Transfers to Minors Act ................... Additional abbreviations may also   be used though not in the above list.