O'Connor Brad G 4

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.