Ara K. Hovnanian - 09 Jun 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
Issuer symbol
HOV
Transactions as of
09 Jun 2023
Net transactions value
$0
Form type
4
Filing time
13 Jun 2023, 18:08:09 UTC
Previous filing
12 Jun 2023
Next filing
16 Jun 2023
SEC
View on sec.gov

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 (2023) Award $0 +31,202 $0.000000 31,202 09 Jun 2023 Class A Common Stock 31,202 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 9, 2026 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2024 and, to the extent vested, settle in shares of Class B Common Stock on June 9, 2028.
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