J. Larry Sorsby - Jun 11, 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 11, 2021
Transactions value $
-$178,001
Form type
4
Date filed
6/15/2021, 06:54 PM
Previous filing
Jun 11, 2021
Next filing
Sep 1, 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 +5.1K +12.59% $0.00 45.6K Jun 14, 2021 Direct F1
transaction HOV Class A Common Stock Tax liability -$178K -2.01K -4.4% $88.69 43.6K Jun 14, 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 Performance Share Units (2021) Award $0 +10.6K $0.00 10.6K Jun 11, 2021 Class A Common Stock 10.6K Direct F2, F3, F4
transaction HOV Market Share Units Options Exercise $0 -2.55K -25% $0.00 7.65K Jun 14, 2021 Class A Common Stock 2.55K Direct F1, F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 14, 2021, 2,550 Market Share Units vested and converted into 5,100 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 14, 2019
F2 Vested Performance Share Units convert into Class A Common Stock on a one-for-one basis
F3 These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022
F4 The number of shares of Class A Common Stock that would be received upon vesting of the Performance Share Units will vary from 50% to 200% of the number shown depending on the achievement of certain performance criteria during the relevant performance period
F5 Converts to Class A Common Stock on a one-for-one basis
F6 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 14, 2021
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