Alexander Hovnanian (NYSE: HOV) settles 2021 performance share units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hovnanian Enterprises President Alexander A. Hovnanian exercised performance-based equity awards and received Class B shares. On June 11, 2026, 8,864 Performance Share Units (2021) settled into an equal number of shares of Class B Common Stock, which are immediately convertible into Class A Common Stock on a one-for-one basis.
To cover tax obligations, 4,694 Class B shares were disposed of as a tax-withholding transaction at $120.87 per share, rather than an open-market sale. Following these transactions, Hovnanian held 52,349 Class B shares directly and 82,404 Class B shares indirectly through Hovnanian Family 2021 trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary
17,728 shares exercised/converted
Mixed
4 txns
Insider
Hovnanian Alexander A.
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 8,864 | $0.00 | -- |
| Tax Withholding | Class B Common Stock | 4,694 | $120.87 | $567K |
| Exercise | Performance Share Units (2021) | 8,864 | $0.00 | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 52,349 shares (Direct, null);
Performance Share Units (2021) — 0 shares (Direct, null);
Class B Common Stock — 82,404 shares (Indirect, Held by Hovnanian Family 2021 trusts)
Footnotes (1)
- 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") Reflects the settlement of vested Performance Share Units into Class B Common Stock on a one-for-one basis. No expiration date Vested Performanc Share Units convert into Class B 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 B Common Stock on the date that is two years following the vesting date. Upon, and to the extent of, vesting of the Performance Share Units, shares of Class B Common Stock would be received. Shares of Class B Common Stock are immediately convertible into an equal number of shares of Class A Common Stock on a one-for-one basis. 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
Performance Share Units exercised: 8,864 units
Shares withheld for taxes: 4,694 shares
Tax-withholding price: $120.87 per share
+3 more
6 metrics
Performance Share Units exercised
8,864 units
Settled into Class B Common Stock on June 11, 2026
Shares withheld for taxes
4,694 shares
Class B Common Stock used in tax-withholding disposition at $120.87
Tax-withholding price
$120.87 per share
Value used for 4,694 Class B shares delivered for tax liability
Direct Class B holdings after
52,349 shares
Class B Common Stock held directly following June 11, 2026 transactions
Indirect Class B holdings
82,404 shares
Held by Hovnanian Family 2021 trusts after transactions
Derivative exercises
17,728 shares
Total underlying shares from two derivative exercises (M code)
Key Terms
Performance Share Units, tax-withholding disposition, Class B Common Stock, immediately convertible, +1 more
5 terms
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.
Class B Common Stock financial
"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"
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.
immediately convertible financial
"Class B Common Stock are immediately convertible into an equal number of shares of Class A Common Stock on a one-for-one basis."
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities except to the extent of his potential pecuniary interest therein"
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.
