Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | HOV | Market Share Units (Performance) | Award | $0 | +5.1K | $0.00 | 5.1K | Dec 13, 2021 | Class A Common Stock | 5.1K | Direct | F1, F2, F3, F4 | ||
transaction | HOV | Market Share Units (Performance) | Award | $0 | +5.1K | +100% | $0.00 | 10.2K | Dec 13, 2021 | Class A Common Stock | 5.1K | Direct | F1, F2, F3, F4 | |
transaction | HOV | Phantom Shares | Award | $0 | +62.2K | $0.00 | 62.2K | Dec 13, 2021 | Class A Common Stock | 62.2K | Direct | F5, F6, F7, F8 |
Id | Content |
---|---|
F1 | Converts to Class A Common Stock on a one-for-one basis. |
F2 | The date of the transaction represents the date on which the financial performance criteria of previously granted Market Share Units were determined to have been satisfied. |
F3 | 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, 2022, June 14, 2021, June 14, 2023 and June 14, 2024. |
F4 | 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. |
F5 | Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. The date of the transaction represents the date on which the financial performance criteria of a previously granted long-term incentive plan ("LTIP") award were determined to have been satisfied, which LTIP award is payable partly in these phantom shares. |
F6 | Following vesting, each phantom share will be paid in an amount of cash equal to the value of a share of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") at the time of payout, as calculated pursuant to the applicable award agreement. |
F7 | Represents the number of shares determined to have been earned for the share portion of the LTIP. |
F8 | The share portion of the LTIP award vests as follows: (a) 33,015 shares are vested, (b) 14,571 shares vest on October 31, 2022, and (c) 14,569 shares vest on October 31, 2023 and settle in cash in the January following vesting. |