J. Larry Sorsby - Jun 14, 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 14, 2023
Transactions value $
-$396,843
Form type
4
Date filed
6/16/2023, 03:33 PM
Previous filing
Jun 13, 2023
Next filing
Dec 14, 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 +5.1K +4.2% $0.00 127K Jun 14, 2023 Direct F1
transaction HOV Class A Common Stock Options Exercise $0 +5.1K +4.38% $0.00 122K Jun 14, 2023 Direct F2
transaction HOV Class A Common Stock Tax liability -$397K -4.02K -3.17% $98.84 123K Jun 14, 2023 Direct
holding HOV Class A Common Stock 15.9K Jun 14, 2023 Held by GRAT
holding HOV Class A Common Stock 6.36K Jun 14, 2023 Held by Spouse
holding HOV Class A Common Stock 9.54K Jun 14, 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 -2.55K -50% $0.00 2.55K Jun 14, 2023 Class A Common Stock 2.55K Direct F1, F3, F4, F5, F6
transaction HOV Market Share Units (Performance) Options Exercise $0 -2.55K -50% $0.00 2.55K Jun 14, 2023 Class A Common Stock 2.55K Direct F2, F3, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 14, 2023, 2,550 Market Share Units vested and converted into 5,100 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 14, 2019
F2 On June 14, 2023, 2,550 Market Share Units vested and converted into 5,100 shares of Class A Common Stock pursuant to the terms of the award granted on June 14, 2019 that was subject to additional performance criteria that was determined to have been satisfied on October 31, 2021
F3 Converts to Class A Common stock on a one-for-one basis.
F4 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 14, 2021
F5 On June 14, 2023, 2,550 Market Share Units vested and converted into 5,100 shares of Class A Common Stock pursuant to the terms of the award granted on June 14, 2019.
F6 The number of shares of Class A Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 200% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period.
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, 2022, June 14, 2022, June 14, 2023, and June 14, 2024.