Hovnanian Enterprises (NYSE: HOV) trust exercises 5,000 options, withholds 3,148 shares for tax

Rhea-AI Filing Summary

Hovnanian Enterprises director J. Larry Sorsby reported option-related transactions and updated holdings. A trust identified as a SLAT exercised employee stock options for 5,000 shares of Class A Common Stock at $56.75 per share and received 5,000 shares. On the same date, the SLAT had 3,148 shares disposed of at $116.1999 per share as a tax-withholding transaction, not an open-market sale, leaving 1,852 shares held indirectly through the SLAT.

Separately, Sorsby is shown with 187,524 shares held directly and 3,846 shares held indirectly through his spouse, giving context for the size of these routine compensation- and tax-related movements.

Insider Trade Summary

5,000 shares exercised/converted

Mixed 5 txns

Insider SORSBY J LARRY

Role null

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	5,000	$0.00	--
Exercise	Class A Common Stock	5,000	$56.75	$284K
Tax Withholding	Class A Common Stock	3,148	$116.1999	$366K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 5,000 shares (Indirect, By SLAT); Class A Common Stock — 5,000 shares (Indirect, By SLAT); Class A Common Stock — 187,524 shares (Direct, null)

Footnotes (1)

1. The option is fully vested N/A

Key Figures

Options exercised: 5,000 shares Option exercise price: $56.75 per share Tax-withheld shares: 3,148 shares +5 more

8 metrics

Options exercised 5,000 shares Employee stock option exercised by SLAT for Class A Common Stock

Option exercise price $56.75 per share Conversion price for employee stock option exercised on May 27, 2026

Tax-withheld shares 3,148 shares Shares delivered for tax obligations by SLAT at $116.1999 per share

Tax-withholding price $116.1999 per share Value used for tax-withholding disposition of 3,148 Class A shares

Direct holdings after transactions 187,524 shares Class A Common Stock held directly by J. Larry Sorsby

Indirect SLAT holdings after transactions 1,852 shares Class A Common Stock held indirectly through SLAT

Spouse-held shares 3,846 shares Class A Common Stock held indirectly by spouse

Option expiration date June 9, 2026 Expiration date of employee stock option prior to exercise

Key Terms

Employee Stock Option (right to buy), tax-withholding disposition, derivative exercise/conversion, indirect ownership, +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 3,148 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 exercise/conversion financial

"transaction_action: "derivative exercise/conversion" for 5,000-share option"

indirect ownership financial

"ownership_type: "indirect" with nature_of_ownership "By SLAT" or "Held by Spouse""

fully vested financial

"footnote: "The option is fully vested""

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Form 4 Insider Transactions: What Each Field Means →

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)
05/27/2026

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	05/27/2026		M		5,000	A	$56.75	5,000	I	By SLAT
Class A Common Stock	05/27/2026		F		3,148	D	$116.1999	1,852	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	05/27/2026		M			5,000	(1)	06/09/2026	Class A Common Stock	5,000	$0.0000(2)	5,000	I	By SLAT

Explanation of Responses:

1. The option is fully vested

2. N/A

	Elizabeth D. Tice Attorney-in-Fact	05/29/2026
	** 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)

FAQ

What insider transactions did J. Larry Sorsby report for HOV on this Form 4?

The filing shows a trust associated with J. Larry Sorsby exercised employee stock options for 5,000 HOV Class A shares and a related tax-withholding disposition of 3,148 shares. Two additional rows simply update direct and spouse-held share balances without reporting new market purchases or sales.

Was the 3,148-share HOV transaction a market sale by J. Larry Sorsby?

No. The 3,148 HOV shares were disposed of as a tax-withholding transaction at $116.1999 per share. This type F code event reflects shares delivered to cover tax obligations on equity compensation rather than an open-market sale driven by investment views.

What stock option did the SLAT exercise in the HOV Form 4 filing?

A SLAT associated with J. Larry Sorsby exercised an employee stock option for 5,000 Class A Common shares at a conversion price of $56.75 per share. The option is described as fully vested and was scheduled to expire on June 9, 2026 before this exercise.

How many HOV shares does J. Larry Sorsby hold directly after these transactions?

The Form 4 reports that J. Larry Sorsby holds 187,524 shares of HOV Class A Common Stock directly following the reported transactions. This direct position is separate from indirect holdings through a SLAT and through his spouse, which are disclosed in additional lines.

What indirect HOV holdings related to J. Larry Sorsby are disclosed?

After the transactions, the filing shows 1,852 HOV Class A shares held indirectly through a SLAT and 3,846 shares held indirectly by his spouse. These entries indicate beneficial interests connected to Sorsby beyond his 187,524 directly held shares of Class A Common Stock.

Does this HOV Form 4 indicate ongoing option positions for J. Larry Sorsby?

The filing shows an employee stock option for 5,000 shares exercised by a SLAT, with 5,000 underlying shares delivered and a stated expiration of June 9, 2026. No additional remaining derivative positions are listed in the derivative summary of this particular Form 4.