J. Larry Sorsby - 14 Jun 2024 Form 4 Insider Report for HOVNANIAN ENTERPRISES INC (HOV)

Role: Director
Signature: Elizabeth D. Tice Attorney-in-Fact
Issuer symbol: HOV
Transactions as of: 14 Jun 2024
Net transactions value: -$593,297
Form type: 4
Filing time: 18 Jun 2024, 18:57:13 UTC
Previous filing: 14 Jun 2024
Next filing: 17 Dec 2025
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	+5,100	+3.9%	$0.000000	135,304	14 Jun 2024	Direct	F1
transaction	HOV	Class A Common Stock	Options Exercise	$0	+5,100	+4.1%	$0.000000	130,204	14 Jun 2024	Direct	F2
transaction	HOV	Class A Common Stock	Award	$0	+755	+0.56%	$0.000000	136,059	14 Jun 2024	Direct
transaction	HOV	Class A Common Stock	Tax liability	$593,297	-4,015	-3%	$147.77	132,044	14 Jun 2024	Direct
holding	HOV	Class A Common Stock						15,903	14 Jun 2024	Held by GRAT
holding	HOV	Class A Common Stock						9,540	14 Jun 2024	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	-2,550	-100%	$0.000000^*	0	14 Jun 2024	Class A Common Stock	2,550		Direct	F2, F3, F4, F5
transaction	HOV	Market Share Units (Performance)	Options Exercise	$0	-2,550	-100%	$0.000000^*	0	14 Jun 2024	Class A Common Stock	2,550		Direct	F1, F3, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 14, 2024, 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.
F2	On June 14, 2024, 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.
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, 2024, 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 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.