Hovnanian COO settles PSUs, covers taxes with shares
Hovnanian Enterprises’ Chief Operating Officer Michael P. Wyatt reported routine equity compensation activity involving Performance Share Units and Class A Common Stock.
Rhea-AI Filing Summary
Hovnanian Enterprises’ Chief Operating Officer Michael P. Wyatt reported routine equity compensation activity involving Performance Share Units and Class A Common Stock. On June 11, 2026, 4,136 vested 2021 Performance Share Units were settled into 4,136 shares of Class A Common Stock on a one-for-one basis.
As part of this settlement, 2,008 shares of Class A Common Stock were disposed of to cover tax obligations, a tax-withholding disposition rather than an open-market sale. Following these transactions, Wyatt directly holds 31,880 shares of Class A Common Stock, and the 2021 Performance Share Units position is fully settled.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,136 shares exercised/converted
Exercise
3 txns
Insider
Wyatt Michael P.
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units (2021) | 4,136 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 4,136 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 2,008 | $120.87 | $243K |
Holdings After Transaction:
Performance Share Units (2021) — 0 contracts (Direct);
Class A Common Stock — 31,880 shares (Direct)
Footnotes (3)
- F1. 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.
- F2. Vested Performance Share Units convert into Class A Common Stock on a one-for-one basis
- F3. 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 settled: 4,136 units
Shares acquired: 4,136 shares
Tax-withholding shares: 2,008 shares
+2 more
5 metrics
PSUs settled
4,136 units
2021 Performance Share Units converted to Class A Common Stock on June 11, 2026
Shares acquired
4,136 shares
Class A Common Stock received from PSU settlement on a one-for-one basis
Tax-withholding shares
2,008 shares
Class A Common Stock delivered to cover tax liability related to equity award
Post-transaction holdings
33,888 shares
Class A Common Stock directly held by Michael P. Wyatt after transactions
Tax-withholding reference price
$120.87 per share
Reference price for 2,008-share tax-withholding disposition of Class A Common Stock
Key Terms
Performance Share Units, Class A Common Stock, tax-withholding disposition, derivative security, +1 more
5 terms
Class A Common Stock financial
"Vested Performance Share Units 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.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
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
"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.
one-for-one basis financial
"Vested Performance Share Units convert into Class A Common Stock on a one-for-one basis"
FAQ
What insider transactions did HOV Chief Operating Officer Michael P. Wyatt report?
Michael P. Wyatt reported settling 4,136 vested 2021 Performance Share Units into 4,136 shares of Hovnanian Class A Common Stock. In the same event, 2,008 shares were disposed of to cover tax obligations related to the settlement, a routine compensation-related transaction rather than an open-market trade.
What does transaction code F mean in Michael P. Wyatt’s HOV Form 4?
Transaction code F indicates payment of tax liability or exercise price by delivering securities. In this Form 4, 2,008 shares of Class A Common Stock were disposed of as a tax-withholding transaction tied to the settlement of vested Performance Share Units, not as a discretionary market sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
