Brad G. O'Connor - Jan 7, 2022 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role: SVP, CAO and Treasurer
Signature: Elizabeth D. Tice Attorney-in-Fact
Stock symbol: HOV
Transactions as of: Jan 7, 2022
Transactions value $: -$1,608,761
Form type: 4
Date filed: 1/11/2022, 03:44 PM
Previous filing: Dec 15, 2021
Next filing: Jun 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HOV	Class A Common Stock	Options Exercise	$0	+13.7K	+95.18%	$0.00	28.2K	Jan 7, 2022	Direct	F1
transaction	HOV	Class A Common Stock	Tax liability	-$64.2K	-571	-2.03%	$112.43	27.6K	Jan 7, 2022	Direct
transaction	HOV	Class A Common Stock	Disposed to Issuer	-$1.54M	-13.7K	-49.77%	$112.43	13.9K	Jan 7, 2022	Direct	F1

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	Phantom Shares	Options Exercise	$0	-13.7K	-53.12%	$0.00	12.1K	Jan 7, 2022	Class A Common Stock	13.7K		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the settlement of Phantom Shares 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 aware agreement.
F2	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. 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 at the time of payout, as calculated pursuant to the applicable award agreement.
F3	The remaining Phantom Shares vest as follows: (a) 6,064 shares vest on October 31, 2022 and (b) 6,062 shares vest on October 31, 2023 and settle in cash in the January following vesting.