J. Larry Sorsby - Jun 8, 2021 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Signature
Nancy A. Marrazzo Attorney-in-Fact
Stock symbol
HOV
Transactions as of
Jun 8, 2021
Transactions value $
-$144,652
Form type
4
Date filed
6/10/2021, 06:25 PM
Next filing
Jun 11, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOV Class A Common Stock Options Exercise $0 +1.7K +4.74% $0.00 37.5K Jun 8, 2021 Direct F1
transaction HOV Class A Common Stock Options Exercise $0 +1.7K +4.53% $0.00 39.2K Jun 8, 2021 Direct F2
transaction HOV Class A Common Stock Tax liability -$145K -1.34K -3.41% $108.03 37.9K Jun 8, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HOV Market Share Units Options Exercise $0 -850 -33.33% $0.00 1.7K Jun 8, 2021 Class A Common Stock 850 Direct F1, F3, F4, F5, F6, F7
transaction HOV Market Share Units (Performance) Options Exercise $0 -850 -33.33% $0.00 1.7K Jun 8, 2021 Class A Common Stock 850 Direct F2, F3, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 8, 2021, 850 Market Share Units vested and converted into 1,700 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 8, 2018
F2 On June 8, 2021, 850 Market Share Units vested and converted into 1,700 shares of Class A Common Stock pursuant to the terms of the award granted on June 8, 2018 that was subject to additional performance criteria that was determined to have been satisfied on December 15, 2020
F3 Converts to Class A Common Stock on a one-for-one basis
F4 Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019
F5 The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments beginning on June 8, 2020
F6 On June 8, 2021, 850 Market Share Units vested and converted into 1,700 shares of Class A Common Stock pursuant to the terms of the award granted on June 8, 2018. Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019.
F7 The number of shares of Class A Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 200% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period. This amount also reflects the forfeiture of Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.
F8 The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments on the following vesting dates: January 1, 2021, June 8, 2021, June 8, 2022 and June 8, 2023
F9 The number of shares of Class A Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 200% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period