SEC Form 4 · accession 0001225208-16-043548
HOVNANIAN ENTERPRISES INC · HOV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
J Larry Sorsby
Officer — Exec. VP and CFO · Director
Period of report
Dec 15, 2016
Accepted (ET)
Dec 19, 2016 · 5:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000357294
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Share UnitsF2,F1,F3,F4 | — | Dec 15, 2016 | A | 60,000 | A | — | — | Class A Common Stock | 60,000 | 60,000 | D |
Explanation of responses
- F1Converts to Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), on a one-for-one basis
- F2The date of the transaction represents the date on which the financial performance criteria of previously granted Market Share Units were determined to have been satisfied
- F3The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments beginning on January 1, 2017
- F4The number of shares of Class A Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 175% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period