Hovnanian Alexander A. 4
4 · HOVNANIAN ENTERPRISES INC · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Hovnanian (HOV) President Alexander Hovnanian Exercises Options
What Happened Alexander A. Hovnanian, President of Hovnanian Enterprises (HOV), exercised stock option/derivative rights to acquire 1,200 shares on 2026-03-12 at an exercise price of $45.25 per share (total cash outlay $54,300). To satisfy tax withholding, 894 of the resulting shares were surrendered/disposed at an effective withholding value of $105.75 per share (total ~$94,541). The filing also records a 1,200-share conversion/disposition at $0.00, reflecting an immediate conversion of Class B shares into Class A shares per the footnotes.
Key Details
- Transaction date: 2026-03-12; Form 4 filed 2026-03-13 (timely).
- Primary exercise: 1,200 shares acquired at $45.25 each — total $54,300 (code M = exercise/conversion).
- Tax/withholding: 894 shares disposed/withheld at $105.75 each — total ~$94,541 (code F = payment of exercise price or tax liability; this functions like a sell-to-cover).
- Conversion: 1,200 shares reported as disposed at $0.00, consistent with immediate Class B → Class A conversion (footnote F1).
- Option status: fully vested (footnote F3) and no expiration date (footnote F2).
- Reporting person disclaimer: disclaims beneficial ownership except to extent of pecuniary interest (footnote F5).
- Shares owned after transaction: not specified in the provided Form 4.
Context This was an option exercise with simultaneous share withholding to cover tax obligations (a common "sell-to-cover" or net share settlement). Such transactions are routine for executives exercising vested options and do not, by themselves, indicate a change in sentiment. The filing appears timely (next-day filing).
Insider Transaction Report
- Exercise/Conversion
Class B Common Stock
[F1][F2]2026-03-12$45.25/sh+1,200$54,300→ 35,416 total→ Class A Common Stock (1,200 underlying) - Tax Payment
Class B Common Stock
[F1][F2]2026-03-12$105.75/sh−894$94,541→ 34,522 total→ Class A Common Stock (894 underlying) - Exercise/Conversion
Option to purchase Class B Common Stock
[F4][F3]2026-03-12−1,200→ 0 totalExercise: $45.25Exp: 2026-07-24→ Class A Common Stock (1,200 underlying)
- 82,404(indirect: By Trust)
Class B Common Stock
[F1][F2][F5]→ Class A Common Stock (82,404 underlying)
Footnotes (5)
- [F1]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")
- [F2]No expiration date
- [F3]The option is fully vested
- [F4]N/A
- [F5]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