Ara K. Hovnanian - Jun 1, 2023 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, 2023
Transactions value $
$0
Form type
4
Date filed
6/6/2023, 10:23 AM
Previous filing
Jan 10, 2023
Next filing
Jun 12, 2023

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 +32K +88.14% $0.00 68.3K Jun 1, 2023 Class A Common Stock 32K 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, par value $.01 per share, non-cumulative ("Class B Common Stock"), on a one-for-one basis. 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, on a one-for-one basis.
F2 The date of the transaction represents the date on which the financial performance criteria of previously granted Performance Share Units were determined to have been satisfied.
F3 Represents the additional number of shares determined to have been earned under the performance share unit award. 36,312 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 10, 2025 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.