Brad G. O'Connor - 05 Jan 2024 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role: CFO and Treasurer
Signature: Elizabeth D. Tice Attorney-in-Fact
Issuer symbol: HOV
Transactions as of: 05 Jan 2024
Net transactions value: -$935,488
Form type: 4
Filing time: 09 Jan 2024, 16:35:25 UTC
Previous filing: 14 Dec 2023
Next filing: 03 Jun 2024
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	+6,062	+27%	$0.000000	28,338	05 Jan 2024	Direct	F1
transaction	HOV	Class A Common Stock	Disposed to Issuer	$935,488	-6,062	-21%	$154.32	22,276	05 Jan 2024	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	-6,062	-100%	$0.000000^*	0	05 Jan 2024	Class A Common Stock	6,062		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 Phantom Shares vested on October 31, 2023 and settled in cash in the following January.