J. Larry Sorsby - Jun 10, 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 10, 2022
Transactions value $
$0
Form type
4
Date filed
6/14/2022, 06:42 PM
Previous filing
Jun 10, 2022
Next filing
Jun 16, 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 (2022) Award $0 +17.2K $0.00 17.2K Jun 10, 2022 Class A Common Stock 17.2K 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 A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), on a one-for-one basis
F2 These Performance Share Units vest based on satisfaction of service vesting conditions through June 10, 2025 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2023 and, to the extent vested, settle in shares of Class B Common Stock on June 10, 2027.
F3 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