Hovnanian (NYSE: HOV) CFO nets shares after 4,136 PSU settlement
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hovnanian Enterprises CFO Brad G. O'Connor settled vested 2021 Performance Share Units into 4,136 shares of Class A Common Stock on a one-for-one basis. In connection with this settlement, 2,020 shares were disposed of to cover tax obligations at $120.87 per share, a standard tax-withholding mechanism rather than an open-market sale. After these transactions, O'Connor directly holds 43,325 Class A shares, reflecting a modest net increase in his equity position.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,136 shares exercised/converted
Mixed
3 txns
Insider
O'Connor Brad G
Role
CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units (2021) | 4,136 | $0.00 | -- |
| Exercise | Class A Common Stock | 4,136 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 2,020 | $120.87 | $244K |
Holdings After Transaction:
Performance Share Units (2021) — 0 shares (Direct, null);
Class A Common Stock — 43,325 shares (Direct, null)
Footnotes (1)
- Reflects the settlement of vested Performance Share Units into Class A Common Stock, par value $.01, per share, non-cumulative ("Class A Common Stock") on a one-for-one basis. Vested Performance Share Units convert into Class A Common Stock on a one-for-one basis These Performance Share Units vested on June 11, 2024 and were to be delivered in shares of Class A Common Stock on the date that is two years following the vesting date.
Key Figures
PSUs converted: 4,136 shares
Tax-withheld shares: 2,020 shares
Tax price per share: $120.87 per share
+3 more
6 metrics
PSUs converted
4,136 shares
2021 Performance Share Units settled into Class A Common Stock
Tax-withheld shares
2,020 shares
Shares disposed to cover tax obligations
Tax price per share
$120.87 per share
Value used for tax-withholding disposition
Shares held after transactions
43,325 shares
Direct Class A holdings by CFO after settlement and withholding
Derivative exercises
4,136 shares
Exercise/conversion of derivative security (Performance Share Units)
Tax-withholding disposition
2,020 shares
Recorded as code F transaction on June 11, 2026
Key Terms
Performance Share Units, tax-withholding disposition, derivative security, Class A Common Stock, +1 more
5 terms
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
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
"convert into Class A Common Stock on a one-for-one basis"
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.
vested financial
"These Performance Share Units vested on June 11, 2024"
FAQ
What did HOV CFO Brad O'Connor report in this Form 4?
CFO Brad O’Connor reported settlement of vested 2021 Performance Share Units into 4,136 Class A shares. As part of this compensation event, 2,020 shares were withheld to cover taxes, with the remaining shares added to his direct holdings.
Did the HOV CFO buy or sell Hovnanian stock on the market?
No open-market buy or sell occurred. The Form 4 shows a derivative exercise converting Performance Share Units into common shares and a tax-withholding disposition, where 2,020 shares were surrendered to cover tax liabilities, not sold in the market.