Ara K. Hovnanian - Jun 1, 2022 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role
Chairman of Bd., Pres. & CEO, Director, 10%+ Owner
Signature
Elizabeth D. Tice Attorney-in-Fact
Stock symbol
HOV
Transactions as of
Jun 1, 2022
Transactions value $
$0
Form type
4
Date filed
6/2/2022, 05:40 PM
Previous filing
Jan 11, 2022
Next filing
Jun 10, 2022

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 +22.4K +100% $0.00 44.8K Jun 1, 2022 Class A Common Stock 22.4K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vested Performance Share Units convert into Class B Common Stock (as defined below) on a one-for-one basis
F2 Represents the additional number of shares determined to have been earned under the performance share unit award. 22,400 Performance Share Units were previously reported at the time of grant. Earned portion of the performance share unit award vests based on satisfaction of service vesting conditions through June 11, 2024 and will be delivered in shares of Class B Common Stock on the date that is two years following the vesting date, subject to earlier vesting and delivery upon the occurrence of certain qualified termination events.
F3 Upon, and to the extent of, vesting of the Performance Share Units, shares of Class B Common Stock would be received. Shares of Class B Common Stock are immediately convertible into an equal number of shares of Class A Common Stock (as defined below) on a one-for-one basis.