Hovnanian director exercises options, pays tax in stock

Hovnanian Enterprises director J. Larry Sorsby reported routine equity compensation activity involving Class A common stock.

Rhea-AI Filing Summary

Hovnanian Enterprises director J. Larry Sorsby reported routine equity compensation activity involving Class A common stock. An entity identified as a SLAT exercised 5,000 shares under an employee stock option at $56.75 per share, converting options into common stock held indirectly.

To cover tax obligations, the SLAT delivered 3,068 shares of Class A common stock at $116.00 per share in a tax-withholding disposition, rather than selling shares on the open market. After these transactions, Sorsby held 187,524 shares directly, 3,784 shares indirectly through the SLAT, and 3,846 shares indirectly through his spouse.

Insider Trade Summary

5,000 shares exercised/converted

Exercise 5 txns

Insider SORSBY J LARRY

Role Director

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	5,000	$0.00	$0.00
Exercise	Class A Common Stock	5,000	$56.75	$284K
Exercise Price or Tax Liability	Class A Common Stock	3,068	$116.00	$356K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 0 contracts (Indirect, By SLAT); Class A Common Stock — 3,784 shares (Indirect, By SLAT); Class A Common Stock — 187,524 shares (Direct); Class A Common Stock — 3,846 shares (Indirect, Held by Spouse)

Footnotes (2)

1. F1. The option is fully vested
2. F2. N/A

Key Figures

Options exercised: 5,000 shares Exercise price: $56.75 per share Shares for tax withholding: 3,068 shares +4 more

7 metrics

Options exercised 5,000 shares Employee stock option exercise at $56.75 per share

Exercise price $56.75 per share Conversion or exercise price for 5,000 options

Shares for tax withholding 3,068 shares Tax-withholding disposition at $116.00 per share

Tax withholding price $116.00 per share Value applied to 3,068 shares delivered for taxes

Direct holdings after transaction 187,524 shares Class A common stock held directly by Sorsby

Indirect SLAT holdings after transaction 3,784 shares Class A common stock held indirectly by SLAT

Spouse-held shares 3,846 shares Class A common stock held indirectly by spouse

Key Terms

Employee Stock Option (right to buy), tax-withholding disposition, derivative security, Class A Common Stock, +1 more

5 terms

Employee Stock Option (right to buy) financial

"security_title: "Employee Stock Option (right to buy)""

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition" for 3,068 shares"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Class A Common Stock financial

"security_title: "Class A Common Stock" in multiple transactions"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

indirect ownership financial

"ownership_type: "indirect" and nature_of_ownership: "By SLAT""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did HOV director J. Larry Sorsby report in this Form 4?

J. Larry Sorsby reported option-related transactions in Hovnanian Enterprises Class A common stock. A SLAT exercised 5,000 stock options at $56.75 per share and used 3,068 shares at $116.00 per share to satisfy tax obligations, with no open-market sale disclosed.

How many HOV shares did the SLAT exercise and at what price?

A SLAT associated with J. Larry Sorsby exercised 5,000 employee stock options for Hovnanian Enterprises Class A shares at a conversion or exercise price of $56.75 per share, turning derivative securities into common stock held indirectly for the reporting person.

How were taxes handled on the HOV stock option exercise?

To cover tax obligations from the option exercise, the SLAT delivered 3,068 shares of Hovnanian Enterprises Class A common stock at $116.00 per share. This F-code transaction is a tax-withholding disposition, not an open-market sale, and reduces the SLAT’s post-transaction share balance.

What are J. Larry Sorsby’s HOV holdings after these transactions?

Following the reported transactions, J. Larry Sorsby directly owned 187,524 Hovnanian Enterprises Class A shares, with 3,784 shares held indirectly through a SLAT and 3,846 shares held indirectly by his spouse, reflecting both direct and family-related ownership positions.

Were any open-market purchases or sales of HOV shares reported?

The Form 4 shows no open-market purchase or sale codes for Hovnanian Enterprises shares. Reported activity consists of an M-code employee stock option exercise and an F-code tax-withholding disposition, which are routine equity compensation and tax-settlement events rather than discretionary market trades.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 04:33 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SORSBY J LARRY

(Last) (First) (Middle)

C/O HOVNANIAN ENTERPRISES, INC.

90 MATAWAN ROAD

(Street)

MATAWAN NEW JERSEY 07747

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HOVNANIAN ENTERPRISES INC [ HOV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/01/2026		M		5,000	A	$56.75	6,852	I	By SLAT
Class A Common Stock	06/01/2026		F		3,068	D	$116	3,784	I	By SLAT
Class A Common Stock								187,524	D
Class A Common Stock								3,846	I	Held by Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$56.75	06/01/2026		M			5,000	(1)	06/09/2026	Class A Common Stock	5,000	$0.0000(2)	0.0000	I	By SLAT

Explanation of Responses:

1. The option is fully vested

2. N/A

	Elizabeth D. Tice Attorney-in-Fact	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)