Hovnanian Alexander A. 4

What Happened Alexander A. Hovnanian, President of Hovnanian Enterprises (HOV), exercised stock option/derivative rights to acquire 1,200 shares on 2026-03-12 at an exercise price of $45.25 per share (total cash outlay $54,300). To satisfy tax withholding, 894 of the resulting shares were surrendered/disposed at an effective withholding value of $105.75 per share (total ~$94,541). The filing also records a 1,200-share conversion/disposition at $0.00, reflecting an immediate conversion of Class B shares into Class A shares per the footnotes.

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-13 (timely).
• Primary exercise: 1,200 shares acquired at $45.25 each — total $54,300 (code M = exercise/conversion).
• Tax/withholding: 894 shares disposed/withheld at $105.75 each — total ~$94,541 (code F = payment of exercise price or tax liability; this functions like a sell-to-cover).
• Conversion: 1,200 shares reported as disposed at $0.00, consistent with immediate Class B → Class A conversion (footnote F1).
• Option status: fully vested (footnote F3) and no expiration date (footnote F2).
• Reporting person disclaimer: disclaims beneficial ownership except to extent of pecuniary interest (footnote F5).
• Shares owned after transaction: not specified in the provided Form 4.

Context This was an option exercise with simultaneous share withholding to cover tax obligations (a common "sell-to-cover" or net share settlement). Such transactions are routine for executives exercising vested options and do not, by themselves, indicate a change in sentiment. The filing appears timely (next-day filing).