O'Connor Brad G 4
4 · HOVNANIAN ENTERPRISES INC · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
Hovnanian (HOV) CFO Brad O'Connor Receives Equity Awards
What Happened
- Brad G. O'Connor, Chief Financial Officer of Hovnanian Enterprises (HOV), was granted two derivative awards on 2026-06-12 totaling 6,958 units: 3,852 and 3,106 units. Each grant is reported at $0.00 (no cash paid). These awards consist of performance share units (convertible to Class A common stock) and phantom shares (cash-settled), not an open-market purchase.
Key Details
- Transaction date and price: June 12, 2026; grants reported at $0.00; transaction code A (award/grant).
- Award amounts: 3,852 units + 3,106 units = 6,958 total units.
- Shares owned after transaction: not specified in the filing.
- Notable footnotes: PSUs convert one-for-one to Class A common stock upon vesting (F1); PSUs vest based on service through June 12, 2029 and performance over a period ending April 30, 2027, and, if vested, settle in shares on June 12, 2031 (F2). The number of shares/phantom shares payable may vary from 50% to 200% of the stated amount based on performance (F3, F7). Phantom shares are cash-settled based on future stock price at payout (F4, F5, F6).
- Filing timeliness: Form 4 filed June 16, 2026; filed within the standard two-business-day window after the June 12 transaction (timely).
Context
- These are compensation awards tied to service and performance goals, not market purchases. PSUs may convert into actual shares if performance and service conditions are met; phantom shares will pay cash tied to future stock value. The reported $0.00 reflects that no cash changed hands at grant — future value depends on performance and vesting conditions.
Insider Transaction Report
Form 4
Transactions
- Award
Performance Share Units (2026)
[F1][F2][F3]2026-06-12+3,852→ 3,852 total→ Class A Common Stock (3,852 underlying) - Award
Phantom Shares (2026)
[F4][F5][F6][F7]2026-06-12+3,106→ 3,106 total→ Class A Common Stock (3,106 underlying)
Footnotes (7)
- [F1]Vested Performance Share Units convert into Class A Common Stock, par value $.01 per share, non-cumulative ("Class A 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 A Common Stock on June 12, 2031.
- [F3]The number of shares of Class A 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
- [F4]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
- [F5]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.
- [F6]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.
- [F7]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.
Signature
Elizabeth D. Tice Attorney-in-Fact|2026-06-16