Sec Form 4 Filing - MILNE GORDON A @ RYLAND GROUP INC - 2015-10-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person MILNE GORDON A 2. Issuer Name and Ticker or Trading Symbol RYLAND GROUP INC [ RYL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Executive Vice President (Last) (First) (Middle) 3011 TOWNSGATE ROAD, SUITE 200 3. Date of Earliest Transaction (MM/DD/YY) 10/01/2015 (Street) WESTLAKE VILLAGE, CA91361-3027 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $1.00 per share 10/01/2015 M 2,802 A 134,294 D Common Stock, par value $1.00 per share 10/01/2015 M 6,439 A 140,733 D Common Stock, par value $1.00 per share 10/01/2015 M 11,868 A 152,601 D Common Stock, par value $1.00 per share 10/01/2015 A 16,811 A 169,412 D Common Stock, par value $1.00 per share 10/01/2015 A 20,543 A 189,955 D Common Stock, par value $1.00 per share 10/01/2015 A 17,841 A 207,796 D Common Stock, par value $1.00 per share 10/01/2015 F 42,161 D $ 40.83 165,635 D Common Stock, par value $1.00 per share 10/01/2015 D 1 65,635 D 0 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Stock Units ( 1 ) 10/01/2015 M 2,802 ( 1 ) ( 1 ) Common Stock, par value $1.00 per share 2,802 ( 1 ) 0 D Restricted Stock Units ( 1 ) 10/01/2015 M 6,439 ( 1 ) ( 1 ) Common Stock, par value $1.00 per share 6,439 ( 1 ) 0 D Restricted Stock Units ( 1 ) 10/01/2015 M 11,868 ( 1 ) ( 1 ) Common Stock, par value $1.00 per share 11,868 ( 1 ) 0 D Stock Option (right to buy) $ 16.52 10/01/2015 D 40,000 03/01/2012 03/01/2016 Common Stock, par value $1.00 per share 40,000 ( 4 ) 0 D Stock Option (right to buy) $ 18.22 10/01/2015 D 50,000 03/01/2013 03/01/2019 Common Stock, par value $1.00 per share 50,000 ( 4 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MILNE GORDON A 3011 TOWNSGATE ROAD SUITE 200 WESTLAKE VILLAGE, CA91361-3027 Executive Vice President Signatures /s/ Timothy J. Geckle, as Attorney-in-Fact for Gordon A. Milne 10/01/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each restricted stock unit represents a contingent right to receive one share of issuer's common stock and/or the cash value thereof. The restricted stock units vested pursuant to the Amended and Restated Agreement and Plan of Merger by and between The Ryland Group, Inc. and Standard Pacific Corp. dated as of June 14, 2015 (the "merger agreement"). Pursuant to the merger agreement, The Ryland Group, Inc. merged with and into Standard Pacific Corp., with Standard Pacific Corp. continuing as the surviving corporation under the name CalAtlantic Group, Inc. Immediately prior to the effective time of the merger, each restricted stock unit was settled in a share of Ryland common stock, less any applicable tax withholding. ( 2 )Reflects settlement of long-term incentive plan ("LTIP") awards. The LTIP awards vested (at the target level) pursuant to the merger agreement. Immediately prior to the effective time of the merger, LTIP awards were settled in shares of Ryland common stock, less any applicable tax withholding. ( 3 )Disposed of pursuant to the merger agreement. At the effective time of the merger, each share of Ryland common stock issued and outstanding immediately prior to the effective time of the merger was converted into and became exchangeable for 1.0191 validly issued, fully paid and non-assessable shares of common stock of CalAtlantic Group, Inc. ( 4 )Pursuant to the merger agreement, each option to purchase shares of Ryland common stock was converted into an option to acquire shares of CalAtlantic Group, Inc. common stock on the same terms and conditions as were applicable under such option as of immediately prior to the merger. The number of shares of CalAtlantic Group, Inc. common stock underlying each converted Ryland option was determined by multiplying the number of shares of Ryland common stock subject to such option immediately prior to the completion of the merger by the exchange ratio of 1.0191, and rounding down to the nearest whole share.

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