Brad G. O'Connor - 06 Jan 2023 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role
SVP, CAO and Treasurer
Signature
Elizabeth D. Tice Attorney-in-Fact
Issuer symbol
HOV
Transactions as of
06 Jan 2023
Net transactions value
-$329,178
Form type
4
Filing time
10 Jan 2023, 18:13:53 UTC
Previous filing
14 Jun 2022
Next filing
06 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOV Class A Common Stock Options Exercise $0 +6,063 +47% $0.000000 19,074 06 Jan 2023 Direct F1
transaction HOV Class A Common Stock Tax liability $57,677 -1,288 -6.8% $44.78 17,786 06 Jan 2023 Direct
transaction HOV Class A Common Stock Disposed to Issuer $271,501 -6,063 -34% $44.78 11,723 06 Jan 2023 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 -6,063 -50% $0.000000 6,062 06 Jan 2023 Class A Common Stock 6,063 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 award 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 on October 31, 2023 and settle in cash in the following January.