J. Larry Sorsby - Jun 8, 2023 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, 2023
Transactions value $
-$100,737
Form type
4
Date filed
6/12/2023, 06:04 PM
Previous filing
Jun 6, 2023
Next filing
Jun 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOV Class A Common Stock Options Exercise $0 +1.4K +1.21% $0.00 118K Jun 8, 2023 Direct F1
transaction HOV Class A Common Stock Options Exercise $0 +1.4K +1.22% $0.00 116K Jun 8, 2023 Direct F2
transaction HOV Class A Common Stock Tax liability -$101K -1.11K -0.94% $91.00 116K Jun 8, 2023 Direct
holding HOV Class A Common Stock 15.9K Jun 8, 2023 Held by GRAT
holding HOV Class A Common Stock 6.36K Jun 8, 2023 Held by Spouse
holding HOV Class A Common Stock 9.54K Jun 8, 2023 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 -100% $0.00* 0 Jun 8, 2023 Class A Common Stock 850 Direct F2, F3, F4, F5, F6
transaction HOV Market Share Units (Performance) Options Exercise $0 -850 -100% $0.00* 0 Jun 8, 2023 Class A Common Stock 850 Direct F1, F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 8, 2023, 850 Market Share Units vested and converted into 1,404 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
F2 On June 8, 2023, 850 Market Share Units vested and converted into 1,404 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
F3 Converts to Class A Common stock on a one-for-one basis.
F4 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
F5 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
F6 On June 8, 2023, 850 Market Share Units vested and converted into 1,404 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.
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 on the following vesting dates: January 1, 2021, June 8, 2021, June 8, 2022 and June 8, 2023.