HOVNANIAN ARA K 4

What Happened
Ara K. Hovnanian, reported as a greater-than-10% owner and trustee of family trusts, converted 12,595 shares of Class B Common Stock into 12,595 shares of Class A Common Stock on July 15, 2026. The conversion was recorded at $0.00 per share (no cash paid or received) — this is a reclassification of share class rather than a purchase or sale, so there was no cash value exchanged.

Key Details

• Transaction date: July 15, 2026; Form 4 filed July 17, 2026.
• Transaction type/codes: Conversion of derivative security (code C); Acquired 12,595 Class A shares @ $0.00; Disposed 12,595 Class B (derivative) @ $0.00.
• Shares owned after transaction: Not specified in the provided excerpt; transaction converted an equal number of Class B into Class A shares.
• Relevant footnotes: F1 & F11 state Class B shares are immediately convertible into an equal number of Class A shares; F2 and other footnotes indicate holdings are held through various trusts and limited liability interests and the reporting person disclaims beneficial ownership except to extent of pecuniary interest.
• Filing timeliness: Transaction dated 7/15; filing dated 7/17 — appears timely under Section 16 reporting (no late filing indicated).

Context
This was a simple share-class conversion (no cash in/out) and not an open-market buy or sell. For retail investors, conversions like this typically do not signal a change in insider sentiment because they do not alter economic exposure — they just change the form of the shares. Also note the reporting person is a >10% owner and trustee for multiple family trusts, so holdings reflect trust structures rather than routine executive trading.