SEC Form 4 · accession 0001225208-18-000399

HOVNANIAN ENTERPRISES INC · HOV

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Exec. VP and CFO · Director

Period of report

Jan 1, 2018

Accepted (ET)

Jan 3, 2018 · 5:13 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000357294

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Class A Common Stock	Jan 1, 2018	M	11,619	$0.00	A	486,980	D
Class A Common Stock	Jan 2, 2018	F	4,052	$3.32	D	482,928	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Market Share Units (Performance)^F4,F2,F3	—	Jan 1, 2018	M	14,112	D	—	Jun 12, 2020	Class A Common Stock	14,112	42,334	D

F1On January 1, 2018, 14,112 Market Share Units vested and converted into 11,619 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 12, 2015 that was subject to additional financial performance criteria that was determined to have been satisfied on December 15, 2017
F2Converts to Class A Common Stock on a one-for-one basis
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 on the following vesting dates: January 1, 2018, June 12, 2018, June 12, 2019 and June 12, 2020
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