Ara K. Hovnanian - Jun 10, 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 10, 2022
Transactions value $
$0
Form type
4
Date filed
6/14/2022, 06:43 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 +36.3K $0.00 36.3K Jun 10, 2022 Class A Common Stock 36.3K Direct F1, F2, F3, F4
* 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, par value $.01 per share, non-cumulative ("Class B 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 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, par value $.01 per share, non-cumulative ("Class A Common Stock") on a one-for-one basis.
F4 The number of shares of Class B 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