Hovnanian trust exercises 5,000 options, withholds shares
Hovnanian Enterprises director J. Larry Sorsby reported option-related transactions and updated holdings.
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.
Positive
- None.
Negative
- None.
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 | 3,148 | $116.1999 | $366K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 5,000 contracts (Indirect, By SLAT);
Class A Common Stock — 1,852 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)
- F1. The option is fully vested
- F2. 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""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
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.
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
