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

Role: Exec. VP and CFO, Director
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.