HOVNANIAN ARA K 4
4 · HOVNANIAN ENTERPRISES INC · Filed Jun 17, 2025
Insider Transaction Report
Form 4
HOVNANIAN ARA K
DirectorPresident and CEO10% Owner
Transactions
- Award
Phantom Shares
2025-06-13+27,274→ 27,274 total→ Class A Common Stock (27,274 underlying) - Award
Performance Share Units (2025)
2025-06-13+33,712→ 33,712 total→ Class A Common Stock (33,712 underlying)
Footnotes (8)
- [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 13, 2028 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2026 and, to the extent vested, settle in shares of Class B Common Stock on June 13, 2030.
- [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
- [F5]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, par value $.01 per share, non-cumulative ("Class A Common Stock").
- [F6]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.
- [F7]These Phantom Shares vest based on satisfaction of service vesting conditions through June 13, 2028 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2026.
- [F8]The number of Phantom Shares that may be earned will vary from 50% to 200% of the number shown depending on the achievement of certain performance criteria during the relevant performance period.