HOVNANIAN ENTERPRISES INC 4
4 · HOVNANIAN ENTERPRISES INC · Filed Dec 11, 2015
Insider Transaction Report
Form 4
HOVNANIAN SIRWART
10% Owner
Transactions
- Will/Inheritance
Class A Common Stock
2015-10-29+1,376,146→ 1,816,146 total - Gift
Class B Common Stock
2015-10-30−293,906→ 17,842.23 total(indirect: By Partnership)→ Class A Common Stock (293,906 underlying) - Gift
Class B Common Stock
2015-10-30+293,906→ 311,748.23 total(indirect: By Partnership)→ Class A Common Stock (293,906 underlying)
Footnotes (4)
- [F1]On October 29, 2015, the executors of the estate of Kevork S. Hovnanian transferred 1,376,146 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") to the Reporting Person pursuant to the terms of the Will of Kevork S. Hovnanian, deceased. The 1,376,146 shares of Class A Common Stock reported herein were then immediately transferred by the Reporting Person to a grantor retained annuity trust of which the Reporting Person is the sole trustee and annuitant.
- [F2]The Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock"), is immediately convertible into an equal number of shares of Class A Common Stock.
- [F3]The Sirwart Hovnanian 1994 Marital Trust transferred general partnership and limited partnership units of the Kevork S. Hovnanian Family Limited Partnership (the "Limited Partnership") to the Reporting Person, who immediately transferred such units to trusts for the benefit of family members of children of Kevork S. Hovnanian. These units relate to shares of Class B Common Stock.
- [F4]No expiration date