Hovnanian Alexander A. 4

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.