HOV president gifts 8,963 Class B shares
Hovnanian Enterprises President Alexander A. Hovnanian reported a bona fide gift of 8,963 shares of Class B Common Stock.
Rhea-AI Filing Summary
Hovnanian Enterprises President Alexander A. Hovnanian reported a bona fide gift of 8,963 shares of Class B Common Stock. These Class B shares are immediately convertible into an equal number of Class A Common Stock with no expiration date.
Following the gift, he directly holds 43,485 shares of Class B Common Stock. In addition, 82,404 Class B shares, convertible into the same number of Class A shares, are held indirectly by Hovnanian Family 2021 trusts, for which he disclaims beneficial ownership except for any potential pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,963 shares gifted
Gift
2 txns
Insider
Hovnanian Alexander A.
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class B Common Stock | 8,963 | $0.00 | $0.00 |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 43,485 contracts (Direct);
Class B Common Stock — 82,404 contracts (Indirect, Held by Hovnanian Family 2021 trusts)
Footnotes (3)
- F1. The Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock"), is immediately convertible into an equal number of shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock")
- F2. No expiration date
- F3. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his potential pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of the beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose
Key Figures
Gifted shares: 8,963 shares
Direct Class B holdings after transaction: 43,485 shares
Indirect Class B holdings via trusts: 82,404 shares
+2 more
5 metrics
Gifted shares
8,963 shares
Bona fide gift of Class B Common Stock
Direct Class B holdings after transaction
43,485 shares
Directly held by Alexander A. Hovnanian after gift
Indirect Class B holdings via trusts
82,404 shares
Held by Hovnanian Family 2021 trusts, convertible to Class A
Conversion ratio
1:1
Each Class B share immediately convertible into one Class A share
Exercise/Conversion price
$0.0000 per share
Stated exercise price for Class B into Class A
Key Terms
Class B Common Stock, Class A Common Stock, bona fide gift, beneficial ownership, +2 more
6 terms
Class B Common Stock financial
"The Class B Common Stock, par value $.01 per share, non-cumulative"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"is immediately convertible into an equal number of shares of Class A Common Stock"
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.
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his potential pecuniary interest therein"
Section 16 regulatory
"for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did HOV President Alexander A. Hovnanian report?
Alexander A. Hovnanian reported a bona fide gift of 8,963 shares of Class B Common Stock. This is a non-market transfer classified as a gift disposition, not an open-market sale or purchase of Hovnanian Enterprises (HOV) shares.
Does the HOV insider gift transaction involve any sale proceeds?
No. The transaction is classified as a bona fide gift, so it does not involve sale proceeds. Gifts are non-cash transfers and are different from open-market sales or purchases that would generate or use cash for the reporting person.
AI-generated analysis. How Rhea-AI works. Not financial advice.
