Hovnanian Alexander A. 4
4 · HOVNANIAN ENTERPRISES INC · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
Hovnanian (HOV) President Alexander A. Hovnanian Receives Award
What Happened
Alexander A. Hovnanian, President of Hovnanian Enterprises, received two award grants on June 12, 2026: 5,456 performance share units (PSUs) and 4,400 phantom shares (total 9,856 units). Both grants are derivative, recorded at $0.00 per unit (no cash paid). These are compensation awards, not open-market purchases or sales.
Key Details
- Transaction date: June 12, 2026; Form filed June 16, 2026 (filed four days after the transaction date).
- Grants: 5,456 PSUs (derivative, $0.00) and 4,400 Phantom Shares (derivative, $0.00). Total units shown: 9,856.
- Shares owned after transaction: Not specified in the provided excerpt of the filing.
- Footnote highlights:
- PSUs convert into Class B Common Stock on a one-for-one basis upon vesting (F1, F3).
- PSU vesting is subject to service through June 12, 2029 and performance measured through April 30, 2027; if vested, PSUs settle in shares on June 12, 2031 (F2).
- PSU and Phantom awards may be earned at 50%–200% of the shown amounts depending on performance (F4, F8).
- Phantom Shares are cash-settled based on the Class A share price at payout and vest per the same service/performance schedule (F5–F7).
- Filing timeliness: The Form 4 was filed four days after the reported transaction date; typical Form 4 rules require filing within two business days, so this appears later than the standard window.
Context
These are compensation awards tied to multi-year service and performance goals, not market purchases or sales. PSUs are equity-settling (convert to Class B shares, then convertible to Class A shares 1:1 at settlement), while Phantom Shares are cash-settled based on the company’s stock price. Such awards are routine executive compensation and reflect potential future holdings only to the extent performance and vesting conditions are met.
Insider Transaction Report
- Award
Performance Share Units (2026)
[F1][F2][F3][F4]2026-06-12+5,456→ 5,456 total→ Class A Common Stock (5,456 underlying) - Award
Phantom Shares (2026)
[F5][F6][F7][F8]2026-06-12+4,400→ 4,400 total→ Class A Common Stock (4,400 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 12, 2029 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2027 and, to the extent vested, settle in shares of Class B Common Stock on June 12, 2031.
- [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
- [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 12, 2029 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2027.
- [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.