Statement of Changes in Beneficial Ownership (4)
December 17 2020 - 04:54PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * SORSBY J LARRY |
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
__X__ Officer (give title
below) _____ Other
(specify below)
Exec. VP and CFO |
(Last)
(First)
(Middle)
90 MATAWAN ROAD, FIFTH FLOOR |
3. Date of Earliest Transaction (MM/DD/YYYY)
12/15/2020
|
(Street)
MATAWAN, NJ 07747
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. 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 |
12/15/2020 (1) |
|
A |
|
11046.0000 (2) |
A |
$0.0000 |
30970.0000 |
D |
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
|
1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. 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 |
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 of Derivative Security: 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 |
Market Share Units
(Performance) |
(3) |
12/15/2020 (4) |
|
A |
|
1700.0000 |
|
(5) |
6/8/2023 |
Class A Common Stock |
1700.0000 (6) |
$0.0000 |
1700.0000 |
D |
|
Market Share Units
(Performance) |
(3) |
12/15/2020 (4) |
|
A |
|
1700.0000 |
|
(5) |
6/8/2023 |
Class A Common Stock |
1700.0000 (6) |
$0.0000 |
3400.0000 |
D |
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Explanation of
Responses: |
(1) |
The date of the transaction
represents the date on which the financial performance criteria of
a previously granted long-term incentive plan ("LTIP") award were
determined to have been satisfied |
(2) |
Represents the number of
shares determined to have been earned for the share portion of the
LTIP. The share portion of the LTIP award vests as follows: (a)
3,933 shares vest on October 31, 2021, and (b) 7,113 shares vest on
October 31, 2022. |
(3) |
Converts to Class A Common
Stock, par value $.01 per share, non-cumulative ("Class A Common
Stock"), on a one-for-one basis |
(4) |
The date of the transaction
represents the date on which the financial performance criteria of
previously granted Market Share Units were determined to have been
satisfied |
(5) |
The Market Share Units vest,
if at all and to the extent of specified market performance of the
Class A Common Stock over each relevant vesting period, in four
equal installments on the following vesting dates: January 1, 2021,
June 8, 2021, June 8, 2022 and June 8, 2023 |
(6) |
The number of shares of
Class A Common Stock that would be received upon vesting of the
Market Share Units, if any, may vary from 50% to 200% of the number
shown depending on the market performance of the Class A Common
Stock over each relevant vesting period |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
SORSBY J LARRY
90 MATAWAN ROAD, FIFTH FLOOR
MATAWAN, NJ 07747 |
X |
|
Exec. VP and CFO |
|
Signatures
|
Nancy A. Marrazzo
Attorney-in-Fact |
|
12/17/2020 |
**Signature of Reporting
Person |
Date |