J. Larry Sorsby - Jun 8, 2022 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role
Exec. VP and CFO, Director
Signature
Elizabeth D. Tice Attorney-in-Fact
Stock symbol
HOV
Transactions as of
Jun 8, 2022
Transactions value $
-$64,167
Form type
4
Date filed
6/10/2022, 08:23 PM
Previous filing
Jun 2, 2022
Next filing
Jun 14, 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 +862 +0.79% $0.00 110K Jun 8, 2022 Direct F1
transaction HOV Class A Common Stock Options Exercise $0 +862 +0.78% $0.00 111K Jun 8, 2022 Direct F2
transaction HOV Class A Common Stock Tax liability -$39.8K -680 -0.61% $58.52 111K Jun 8, 2022 Direct
transaction HOV Class A Common Stock Options Exercise $0 +708 +0.64% $0.00 111K Jun 9, 2022 Direct F3
transaction HOV Class A Common Stock Options Exercise $0 +354 +0.32% $0.00 112K Jun 9, 2022 Direct F4
transaction HOV Class A Common Stock Tax liability -$24.4K -419 -0.38% $58.17 111K Jun 9, 2022 Direct
holding HOV Class A Common Stock 15.9K Jun 8, 2022 Held by GRAT
holding HOV Class A Common Stock 15.9K Jun 8, 2022 Held by Spouse's GRAT

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 8, 2022 Class A Common Stock 850 Direct F1, F5, F6, F7, F8, F9
transaction HOV Market Share Units (Performance) Options Exercise $0 -850 -50% $0.00 850 Jun 8, 2022 Class A Common Stock 850 Direct F2, F5, F10, F11
transaction HOV Market Share Units Options Exercise $0 -850 -100% $0.00* 0 Jun 9, 2022 Class A Common Stock 850 Direct F3, F6, F12, F13, F14
transaction HOV Market Share Units (Performance) Options Exercise $0 -425 -100% $0.00* 0 Jun 9, 2022 Class A Common Stock 425 Direct F4, F12, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 8, 2022, 850 Market Share Units vested and converted into 862 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 8, 2018
F2 On June 8, 2022, 850 Market Share Units vested and converted into 862 shares of Class A Common Stock pursuant to the terms of the award granted on June 8, 2018 that was subject to additional performance criteria that was determined to have been satisfied on December 15, 2020
F3 On June 9, 2022, 850 Market Share Units vested and converted into 708 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
F4 On June 9, 2022, 425 Market Share Units vested and converted into 354 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
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 8, 2020
F8 On June 8, 2022, 850 Market Share Units vested and converted into 862 shares of Class A Common Stock pursuant to the terms of the award granted on June 8, 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.
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 200% 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 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, 2021, June 8, 2021, June 8, 2022 and June 8, 2023
F11 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.
F12 Converts to Class A Common Stock on a one-for-one basis
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 beginning on June 9, 2019
F14 On June 9, 2022, 850 Market Share Units vested and converted into 708 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.
F15 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