J. Larry Sorsby - Jun 9, 2021 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Signature
Nancy A. Marrazzo Attorney-in-Fact
Stock symbol
HOV
Transactions as of
Jun 9, 2021
Transactions value $
-$163,006
Form type
4
Date filed
6/11/2021, 07:06 PM
Previous filing
Jun 10, 2021
Next filing
Jun 15, 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 +1.49K +3.93% $0.00 39.4K Jun 9, 2021 Direct F1
transaction HOV Class A Common Stock Options Exercise $0 +744 +1.89% $0.00 40.1K Jun 9, 2021 Direct F2
transaction HOV Class A Common Stock Tax liability -$85.6K -879 -2.19% $97.37 39.3K Jun 9, 2021 Direct
transaction HOV Class A Common Stock Options Exercise $0 +1.05K +2.68% $0.00 40.3K Jun 10, 2021 Direct F3
transaction HOV Class A Common Stock Options Exercise $0 +1.05K +2.61% $0.00 41.4K Jun 10, 2021 Direct F4
transaction HOV Class A Common Stock Tax liability -$77.4K -828 -2% $93.50 40.5K Jun 10, 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 -50% $0.00 850 Jun 9, 2021 Class A Common Stock 850 Direct F1, F5, F6, F7, F8, F9
transaction HOV Market Share Units (Performance) Options Exercise $0 -425 -50% $0.00 425 Jun 9, 2021 Class A Common Stock 425 Direct F2, F5, F9, F10
transaction HOV Market Share Units Options Exercise $0 -600 -100% $0.00* 0 Jun 10, 2021 Class A Common Stock 600 Direct F3, F5, F6, F9, F11, F12
transaction HOV Market Share Units (Performance) Options Exercise $0 -600 -100% $0.00* 0 Jun 10, 2021 Class A Common Stock 600 Direct F4, F5, F6, F9, F13, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 9, 2021, 850 Market Share Units vested and converted into 1,488 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 9, 2017
F2 On June 9, 2021, 425 Market Share Units vested and converted into 744 shares of Class A Common Stock pursuant to the terms of the award granted on June 9, 2017 that was subject to additional performance criteria that was determined to have been satisfied on December 16, 2019
F3 On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016
F4 On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional performance criteria that was determined to have been satisfied on December 14, 2018
F5 Converts to Class A Common Stock on a one-for-one basis
F6 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 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 9, 2019
F8 On June 9, 2021, 850 Market Share Units vested and converted into 1,488 shares of Class A Common Stock pursuant to the terms of the award granted on June 9, 2017. 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.
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 175% 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 the Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.
F10 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, 2020, June 9, 2020, June 9, 2021 and June 9, 2022
F11 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 10, 2018
F12 On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016. 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.
F13 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, 2019, June 10, 2019, June 10, 2020 and June 10, 2021
F14 On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional performance criteria that was determined to have been satisfied on December 14, 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.