HOV

SEC source: 0001225208-22-000462 · doc4.xml · derivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 241,784

Underlying: Class A Common Stock · 9,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: 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 · kind: On January 3, 2022, 4,500 Market Share Units converted into 9,000 shares of Class B Common Stock pursuant to the terms of the award granted on June 14, 2019 that was subject to additional financial performance criteria that was determined to have been satisfied on December 13, 2021.

F1 · derivative.exercise_date: 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")

F3 · derivative.expiration_date: No expiration date

SEC source: 0001225208-22-000461 · doc4.xml · derivative · entry 8

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,650

Underlying: Class A Common Stock · 1,275 shares

Expires 2024-06-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: Convers to Class A Common stock on a one-for-one basis.

F2 · kind: On January 3, 2022, 1,275 Market Share Units converted into 2,550 shares of Class A Common Stock, pursuant to the terms of the award granted on June 14, 2019 that was subject to additional financial performance criteria that was determined to have been satisfied on December 13, 2021.

F4 · derivative.exercise_date: 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, 2022, June 14, 2022, June 14, 2023, and June 14, 2024.

F5 · balance_after: 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.

SEC source: 0001225208-22-000461 · doc4.xml · derivative · entry 7

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,925

Underlying: Class A Common Stock · 1,275 shares

Expires 2024-06-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: Convers to Class A Common stock on a one-for-one basis.

F2 · kind: On January 3, 2022, 1,275 Market Share Units converted into 2,550 shares of Class A Common Stock, pursuant to the terms of the award granted on June 14, 2019 that was subject to additional financial performance criteria that was determined to have been satisfied on December 13, 2021.

F4 · derivative.exercise_date: 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, 2022, June 14, 2022, June 14, 2023, and June 14, 2024.

F5 · balance_after: 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.

SEC source: 0001225208-22-000461 · doc4.xml · nonDerivative · entry 4

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 110,433

SEC source: 0001225208-22-000461 · doc4.xml · nonDerivative · entry 3

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 111,910

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: On January 3, 2022, 1,275 Market Share Units converted into 2,550 shares of Class A Common Stock, pursuant to the terms of the award granted on June 14, 2019 that was subject to additional financial performance criteria that was determined to have been satisfied on December 13, 2021.

SEC source: 0001225208-22-000461 · doc4.xml · nonDerivative · entry 2

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 109,360

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · kind: On January 3, 2022, 1,275 Market Share Units converted into 2,550 shares of Class A Common Stock, pursuant to the terms of the award granted on June 14, 2019 that was subject to additional financial performance criteria that was determined to have been satisfied on December 13, 2021.

SEC source: 0001225208-21-015008 · doc4.xml · derivative · entry 1

O'Connor Brad G · CIK 0001520206 · SVP, CAO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,863

Underlying: Class A Common Stock · 25,863 shares

Expires not disclosed

F1 · security: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F2 · derivative.exercise_price: Following vesting, each phantom share will be paid in an amount of cash equal to the value of a share of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") at the time of payout, as calculated pursuant to the applicable award agreement.

F1 · date: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F3 · shares: Represents the number of shares determined to have been earned for the share portion of the LTIP.

F4 · derivative.exercise_date: The share portion of the LTIP award vests as follows: (a) 13,738 shares are vested, (b) 6,064 shares vest on October 31, 2022, and (c) 6,062 shares vest on October 31, 2023 and settle in cash in the January following vesting.

F4 · derivative.expiration_date: The share portion of the LTIP award vests as follows: (a) 13,738 shares are vested, (b) 6,064 shares vest on October 31, 2022, and (c) 6,062 shares vest on October 31, 2023 and settle in cash in the January following vesting.

SEC source: 0001225208-21-015007 · doc4.xml · derivative · entry 3

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 147,410

Underlying: Class A Common Stock · 147,410 shares

Expires not disclosed

F6 · security: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F7 · derivative.exercise_price: Following vesting, each phantom share will be paid in an amount of cash equal to the value of a share of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") at the time of payout, as calculated pursuant to the applicable award agreement.

F6 · date: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F8 · shares: Represents the number of shares determined to have been earned for the share portion of the LTIP award.

F9 · derivative.exercise_date: The share portion of the LTIP award vests as follows: (a) 78,300 shares are vested, (b) 34,556 shares vest on October 31, 2022, and (c) 34,554 shares vest on October 31, 2023 and settle in cash in the January following vesting.

F9 · derivative.expiration_date: The share portion of the LTIP award vests as follows: (a) 78,300 shares are vested, (b) 34,556 shares vest on October 31, 2022, and (c) 34,554 shares vest on October 31, 2023 and settle in cash in the January following vesting.

SEC source: 0001225208-21-015007 · doc4.xml · derivative · entry 2

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,000

Underlying: Class A Common Stock · 18,000 shares

Expires 2024-06-14

F1 · derivative.exercise_price: Shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock"), received upon vesting are immediately convertible into Class A Common Stock on a one-for-one basis.

F2 · date: 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.

F3 · derivative.exercise_date: 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, 2022, June 14, 2021, June 14, 2023 and June 14, 2024.

F4 · derivative.underlying: Upon, and to the extent of, vesting of the Market 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.

F5 · derivative.underlying_shares: The number of shares of Class B 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.

SEC source: 0001225208-21-015007 · doc4.xml · derivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,000

Underlying: Class A Common Stock · 18,000 shares

Expires 2024-06-14

F1 · derivative.exercise_price: Shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock"), received upon vesting are immediately convertible into Class A Common Stock on a one-for-one basis.

F2 · date: 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.

F3 · derivative.exercise_date: 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, 2022, June 14, 2021, June 14, 2023 and June 14, 2024.

F4 · derivative.underlying: Upon, and to the extent of, vesting of the Market 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.

F5 · derivative.underlying_shares: The number of shares of Class B 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.

SEC source: 0001225208-21-015006 · doc4.xml · derivative · entry 3

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 62,155

Underlying: Class A Common Stock · 62,155 shares

Expires not disclosed

F5 · security: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F6 · derivative.exercise_price: Following vesting, each phantom share will be paid in an amount of cash equal to the value of a share of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") at the time of payout, as calculated pursuant to the applicable award agreement.

F5 · date: Phantom Shares represent the right to payment in the future solely of an amount of cash based on the future stock price of the Class A Common Stock. 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, which LTIP award is payable partly in these phantom shares.

F7 · shares: Represents the number of shares determined to have been earned for the share portion of the LTIP.

F8 · derivative.exercise_date: The share portion of the LTIP award vests as follows: (a) 33,015 shares are vested, (b) 14,571 shares vest on October 31, 2022, and (c) 14,569 shares vest on October 31, 2023 and settle in cash in the January following vesting.

F8 · derivative.expiration_date: The share portion of the LTIP award vests as follows: (a) 33,015 shares are vested, (b) 14,571 shares vest on October 31, 2022, and (c) 14,569 shares vest on October 31, 2023 and settle in cash in the January following vesting.

SEC source: 0001225208-21-015006 · doc4.xml · derivative · entry 2

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,200

Underlying: Class A Common Stock · 5,100 shares

Expires 2024-06-14

F1 · derivative.exercise_price: Converts to Class A Common Stock on a one-for-one basis.

F2 · date: 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.

F3 · derivative.exercise_date: 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, 2022, June 14, 2021, June 14, 2023 and June 14, 2024.

F4 · derivative.underlying_shares: 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.

SEC source: 0001225208-21-015006 · doc4.xml · derivative · entry 1

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,100

Underlying: Class A Common Stock · 5,100 shares

Expires 2024-06-14

F1 · derivative.exercise_price: Converts to Class A Common Stock on a one-for-one basis.

F2 · date: 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.

F3 · derivative.exercise_date: 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, 2022, June 14, 2021, June 14, 2023 and June 14, 2024.

F4 · derivative.underlying_shares: 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.

SEC source: 0001225208-22-000461 · doc4.xml · nonDerivative · entry 1

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 106,810

F1 · kind: In connection with the long-term estate planning of the reporting person, 15,903 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), were transferred to the reporting person's spouse and the reporting person and his spouse each contributed 15,903 shares of Class A Common Stock into separate grantor retained annuity trusts, of which the reporting person and his spouse are each the respective sole trustee and sole annuitant.

F1 · balance_after: In connection with the long-term estate planning of the reporting person, 15,903 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), were transferred to the reporting person's spouse and the reporting person and his spouse each contributed 15,903 shares of Class A Common Stock into separate grantor retained annuity trusts, of which the reporting person and his spouse are each the respective sole trustee and sole annuitant.

SEC source: 0000899243-21-042435 · doc4.xml · derivative · entry 18

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by 2021 trusts

Disclosed balance after: 82,404

Underlying: Class A Common Stock · 82,404 shares

Expires not disclosed

F14 · derivative.exercise_price: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F14 · derivative.exercise_date: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F15 · derivative.expiration_date: Held by trusts for the benefit of the family of Kevork S. Hovnanian, of which the reporting person is a trustee and has a potential remainder interest

F6 · ownership.nature: Held by trusts for the benefit of the reporting person's family (the "2021 trusts"), of which the reporting person is the investment trustee.

SEC source: 0000899243-21-042435 · doc4.xml · derivative · entry 17

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 232,784

Underlying: Class A Common Stock · 82,404 shares

Expires not disclosed

F14 · derivative.exercise_price: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F14 · derivative.exercise_date: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F15 · derivative.expiration_date: Held by trusts for the benefit of the family of Kevork S. Hovnanian, of which the reporting person is a trustee and has a potential remainder interest

SEC source: 0000899243-21-042435 · doc4.xml · derivative · entry 16

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 315,188

Underlying: Class A Common Stock · 6,278 shares

Expires not disclosed

F14 · derivative.exercise_price: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F14 · derivative.exercise_date: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F15 · derivative.expiration_date: Held by trusts for the benefit of the family of Kevork S. Hovnanian, of which the reporting person is a trustee and has a potential remainder interest

SEC source: 0000899243-21-042435 · doc4.xml · derivative · entry 15

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Ara K. Hovnanian Family 1994 long-term trusts

Disclosed balance after: 50,507.51

Underlying: Class A Common Stock · 6,278 shares

Expires not disclosed

F14 · derivative.exercise_price: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F14 · derivative.exercise_date: Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest

F15 · derivative.expiration_date: Held by trusts for the benefit of the family of Kevork S. Hovnanian, of which the reporting person is a trustee and has a potential remainder interest

F5 · ownership.nature: Held by The Ara K. Hovnanian Family 1994 Long-Term Trust, of which the reporting person is trustee

SEC source: 0000899243-21-042435 · doc4.xml · nonDerivative · entry 5

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by 2021 trusts

Disclosed balance after: 14,272

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F3 · balance_after: 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.

F6 · ownership.nature: Held by trusts for the benefit of the reporting person's family (the "2021 trusts"), of which the reporting person is the investment trustee.

SEC source: 0000899243-21-042435 · doc4.xml · nonDerivative · entry 4

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 122,318

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

SEC source: 0000899243-21-042435 · doc4.xml · nonDerivative · entry 3

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 136,590

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

SEC source: 0000899243-21-042435 · doc4.xml · nonDerivative · entry 2

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Ara K. Hovnanian Family 1994 long-term trusts

Disclosed balance after: 0

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F5 · ownership.nature: Held by The Ara K. Hovnanian Family 1994 Long-Term Trust, of which the reporting person is trustee

SEC source: 0000899243-21-042435 · doc4.xml · nonDerivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held as trustee of trust for Reporting Person's family

Disclosed balance after: 0

F1 · kind: Represents transfers in connection with the long-term estate planning of the reporting person, including (i) the distribution of 13,552 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") from the Hovnanian Family 2012 LLC (the "2012 LLC") to a trust for the benefit of the reporting person and the further distribution of such shares from such trust to the reporting person, (ii) the distribution of 720 shares of Class A Common Stock and 6,278 shares of Class B Common Stock, par value $.01 per share, non-cumulative ("Class B Common Stock") from Ara K. Hovnanian Family 1994 long-term trusts to the reporting person, and (iv) the gift of all of such aforementioned shares, along with 76,126 shares of Class B Common Stock held directly by the reporting person, to trusts for the benefit of the reporting person's family, of which the reporting person is the investment trustee.

F2 · shares: Represents an adjustment to the previously reported balance of shares held due to the incorrect reporting of balances following the of Class A Common Stock held by the Ara K. Hovnanian 2012 Trust for Class B Common Stock held by the Hovnanian Family 2012 L.L.C. on April 30, 2019, whereby certain balances of Class A Common Stock were understated by 5,785.60 shares and certain balances of Class B Common Shares were overstated by 5,785.60 as a result of changes in indirect ownership following the exchange.

F2 · balance_after: Represents an adjustment to the previously reported balance of shares held due to the incorrect reporting of balances following the of Class A Common Stock held by the Ara K. Hovnanian 2012 Trust for Class B Common Stock held by the Hovnanian Family 2012 L.L.C. on April 30, 2019, whereby certain balances of Class A Common Stock were understated by 5,785.60 shares and certain balances of Class B Common Shares were overstated by 5,785.60 as a result of changes in indirect ownership following the exchange.

F4 · ownership.nature: Held by Ara K. Hovnanian 2012 Trust, of which the reporting person is trustee, including shares held through a limited liability company interest in the 2012 LLC

SEC source: 0000899243-21-042431 · doc4.xml · nonDerivative · entry 1

Hovnanian Family 2012 L.L.C. · CIK 0001565239 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1

F1 · kind: Reflects a distribution of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") held by the Hovnanian Family 2012 L.L.C. to members of the Hovnanian Family 2012 L.L.C. in connection with the long-term estate planning of the Hovnanian Family.

F1 · price: Reflects a distribution of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock") held by the Hovnanian Family 2012 L.L.C. to members of the Hovnanian Family 2012 L.L.C. in connection with the long-term estate planning of the Hovnanian Family.

SEC source: 0001225208-21-011932 · doc4.xml · derivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 308,910

Underlying: Class A Common Stock · 190,000 shares

Expires not disclosed

F1 · derivative.exercise_price: 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 · date: The date of the transaction represents the date on which the financial performance criteria of a previously granted performance share unit award were determined to have been satisfied.

F3 · shares: Represents the number of shares determined to have been earned under the performance share unit award.

F4 · derivative.exercise_date: The earned portion of the performance share unit award vests 25% on each of June 12, 2022, 2023, 2024 and 2025 and will be delivered in shares of Class B Common Stock on the date that is two years following each respective vesting date, subject to earlier vesting and delivery upon the occurrence of certain qualified termination events.

F5 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-011931 · doc4.xml · nonDerivative · entry 1

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 138,616

F1 · date: The date of the transaction represents the date on which the financial performance criteria of a previously granted performance share unit award were determined to have been satisfied.

F2 · shares: Represents the number of shares determined to have been earned under the performance share unit award. The earned portion of the performance share unit award vests 25% on each of June 12, 2022, 2023, 2024 and 2025 and will be delivered in shares of Class A Common Stock on the date that is two years following each respective vesting date, subject to earlier vesting and delivery upon the occurrence of certain qualified termination events.

SEC source: 0001225208-21-011053 · doc4.xml · nonDerivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held as trustee of trusts for Esther K. Barry's family

Disclosed balance after: 57,729.272

F1 · price: Represents the weighted average sales price for price increments ranging from $105.40 to $106.00. The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.

F2 · balance_after: 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

F3 · ownership.nature: Held by trusts for the benefit of the family of Esther K. Barry, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a limited liability interest in the Hovnanian Family 2012 LLC (the "2012 LLC").

SEC source: 0001225208-21-009558 · doc4.xml · nonDerivative · entry 1

Sellers Robin Stone · CIK 0001744557 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,201

F1 · kind: Reflects the withholding of shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), for cash to cover the Reporting Person's estimated tax liability in connection with the distribution of shares of Class A Common Stock related to vested restricted stock units. The withholding of shares was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.

SEC source: 0001225208-21-009437 · doc4.xml · derivative · entry 4

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,650

Underlying: Class A Common Stock · 2,550 shares

Expires 2024-06-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Converts to Class A Common Stock on a one-for-one basis

F1 · kind: On June 14, 2021, 2,550 Market Share Units vested and converted into 5,100 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 14, 2019

F6 · derivative.exercise_date: 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 beginning on June 14, 2021

F1 · derivative.underlying_shares: On June 14, 2021, 2,550 Market Share Units vested and converted into 5,100 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 14, 2019

F7 · balance_after: 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

SEC source: 0001225208-21-009437 · doc4.xml · nonDerivative · entry 2

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,616

SEC source: 0001225208-21-009437 · doc4.xml · nonDerivative · entry 1

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,623

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: On June 14, 2021, 2,550 Market Share Units vested and converted into 5,100 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 14, 2019

SEC source: 0001225208-21-009436 · doc4.xml · derivative · entry 4

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,000

Underlying: Class A Common Stock · 9,000 shares

Expires 2024-06-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F8 · derivative.exercise_price: Shares of Class B Common Stock received upon vesting convert to Class A Common Stock on a one-for-one basis

F6 · kind: On June 14, 2021, 9,000 Market Share Units vested and converted into 18,000 shares of Class B Common Stock pursuant to the terms of the award granted on June 14, 2019

F9 · derivative.exercise_date: 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 beginning on June 14, 2021

F10 · derivative.underlying: Upon, and to the extent of, vesting of the Market 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.

F6 · derivative.underlying_shares: On June 14, 2021, 9,000 Market Share Units vested and converted into 18,000 shares of Class B Common Stock pursuant to the terms of the award granted on June 14, 2019

F11 · balance_after: The number of shares of Class B 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

SEC source: 0001225208-21-009436 · doc4.xml · derivative · entry 3

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 118,910

Underlying: Class A Common Stock · 7,083 shares

Expires not disclosed

F5 · derivative.exercise_price: 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")

F5 · derivative.exercise_date: 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")

F7 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-009436 · doc4.xml · derivative · entry 2

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,993

Underlying: Class A Common Stock · 18,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: 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")

F6 · kind: On June 14, 2021, 9,000 Market Share Units vested and converted into 18,000 shares of Class B Common Stock pursuant to the terms of the award granted on June 14, 2019

F5 · derivative.exercise_date: 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")

F7 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-009442 · doc4.xml · nonDerivative · entry 1

Sellers Robin Stone · CIK 0001744557 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,514

SEC source: 0001225208-21-009443 · doc4.xml · derivative · entry 1

O'Connor Brad G · CIK 0001520206 · SVP, CAO and Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,068

Underlying: Class A Common Stock · 2,068 shares

Expires not disclosed

F1 · derivative.exercise_price: Vested Performance Share Units convert into Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), on a one-for-one basis

F2 · derivative.exercise_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F2 · derivative.expiration_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F3 · derivative.underlying_shares: The number of shares of Class A Common Stock that would be received upon vesting of the Performance Share Units will vary from 50% to 200% of the number shown depending on the achievement of certain performance criteria during the relevant performance period

SEC source: 0001225208-21-009441 · doc4.xml · nonDerivative · entry 1

PAGANO VINCENT JR · CIK 0001563558 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,786

SEC source: 0001225208-21-009440 · doc4.xml · nonDerivative · entry 1

MARENGI JOSEPH A · CIK 0001077821 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,764

SEC source: 0001225208-21-009439 · doc4.xml · nonDerivative · entry 1

KANGAS EDWARD A · CIK 0001211047 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 46,383

SEC source: 0001225208-21-009438 · doc4.xml · nonDerivative · entry 1

COUTTS ROBERT B · CIK 0001193999 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,726

SEC source: 0001225208-21-009437 · doc4.xml · derivative · entry 3

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,600

Underlying: Class A Common Stock · 10,600 shares

Expires not disclosed

F2 · derivative.exercise_price: Vested Performance Share Units convert into Class A Common Stock on a one-for-one basis

F3 · derivative.exercise_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F3 · derivative.expiration_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F4 · derivative.underlying_shares: The number of shares of Class A Common Stock that would be received upon vesting of the Performance Share Units will vary from 50% to 200% of the number shown depending on the achievement of certain performance criteria during the relevant performance period

SEC source: 0001225208-21-009436 · doc4.xml · derivative · entry 1

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,400

Underlying: Class A Common Stock · 22,400 shares

Expires not disclosed

F1 · derivative.exercise_price: Vested Performance Share Units convert into Class B Common Stock (as defined below) on a one-for-one basis

F2 · derivative.exercise_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F2 · derivative.expiration_date: These Performance Share Units vest based on satisfaction of service vesting conditions through June 11, 2024 to the extent of the achievement of specified performance criteria over a performance period ending on April 30, 2022

F3 · derivative.underlying: 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 (as defined below) on a one-for-one basis.

F4 · derivative.underlying_shares: The number of shares of Class B Common Stock that would be received upon vesting of the Performance Share Units will vary from 50% to 200% of the number shown depending on the achievement of certain performance criteria during the relevant performance period

SEC source: 0001225208-21-009323 · doc4.xml · derivative · entry 10

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 3,000 shares

Expires 2021-06-10

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Shares of Class B Common Stock received upon vesting convert to Class A Common Stock on a one-for-one basis

F13 · kind: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional financial performance criteria that was determined to have been satisfied on December 14, 2018

F6 · shares: Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock and Class B Common Stock that occurred on March 29, 2019

F16 · derivative.exercise_date: 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, 2019, June 10, 2019, June 10, 2020 and June 10, 2021

F8 · derivative.underlying: Upon, and to the extent of, vesting of the Market 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.

F17 · derivative.underlying_shares: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional financial performance criteria that was determined to have been satisfied on December 14, 2018. Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock and Class B Common Stock that occurred on March 29, 2019.

F10 · balance_after: The number of shares of Class B Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 175% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period. This amount also reflects the forfeiture of the Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.

SEC source: 0001225208-21-009323 · doc4.xml · derivative · entry 9

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 3,000 shares

Expires 2021-06-10

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Shares of Class B Common Stock received upon vesting convert to Class A Common Stock on a one-for-one basis

F12 · kind: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016

F6 · shares: Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock and Class B Common Stock that occurred on March 29, 2019

F14 · derivative.exercise_date: 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 beginning on June 10, 2018

F8 · derivative.underlying: Upon, and to the extent of, vesting of the Market 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.

F15 · derivative.underlying_shares: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016. Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock and Class B Common Stock that occurred on March 29, 2019.

F10 · balance_after: The number of shares of Class B Common Stock that would be received upon vesting of the Market Share Units, if any, may vary from 50% to 175% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period. This amount also reflects the forfeiture of the Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.

SEC source: 0001225208-21-009323 · doc4.xml · derivative · entry 8

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,993

Underlying: Class A Common Stock · 4,132 shares

Expires not disclosed

F1 · derivative.exercise_price: 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")

F1 · derivative.exercise_date: 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")

F3 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-009323 · doc4.xml · derivative · entry 7

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 112,125

Underlying: Class A Common Stock · 5,250 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: 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")

F13 · kind: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional financial performance criteria that was determined to have been satisfied on December 14, 2018

F1 · derivative.exercise_date: 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")

F3 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-009323 · doc4.xml · derivative · entry 6

HOVNANIAN ARA K · CIK 0000938549 · Director · Chairman of Bd., Pres. & CEO · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 106,875

Underlying: Class A Common Stock · 5,250 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: 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")

F12 · kind: On June 10, 2021, 3,000 Market Share Units vested and converted into 5,250 shares of Class B Common Stock pursuant to the terms of the award granted on June 10, 2016

F1 · derivative.exercise_date: 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")

F3 · derivative.expiration_date: No expiration date

SEC source: 0001225208-21-009322 · doc4.xml · derivative · entry 10

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 600 shares

Expires 2021-06-10

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Converts to Class A Common Stock on a one-for-one basis

F4 · kind: On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional performance criteria that was determined to have been satisfied on December 14, 2018

F6 · shares: Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019

F13 · derivative.exercise_date: 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, 2019, June 10, 2019, June 10, 2020 and June 10, 2021

F14 · derivative.underlying_shares: On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016 that was subject to additional performance criteria that was determined to have been satisfied on December 14, 2018. Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019.

F9 · balance_after: 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 175% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period. This amount also reflects the forfeiture of the Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.

SEC source: 0001225208-21-009322 · doc4.xml · derivative · entry 9

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 600 shares

Expires 2021-06-10

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: Converts to Class A Common Stock on a one-for-one basis

F3 · kind: On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016

F6 · shares: Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019

F11 · derivative.exercise_date: 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 beginning on June 10, 2018

F12 · derivative.underlying_shares: On June 10, 2021, 600 Market Share Units vested and converted into 1,050 shares of Class A Common Stock pursuant to the terms of the award granted on June 10, 2016. Adjusted for the Issuer's 1-for-25 reverse stock split with respect to the Class A Common Stock that occurred on March 29, 2019.

F9 · balance_after: 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 175% of the number shown depending on the market performance of the Class A Common Stock over each relevant vesting period. This amount also reflects the forfeiture of the Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award.

SEC source: 0001225208-21-009322 · doc4.xml · nonDerivative · entry 6

SORSBY J LARRY · CIK 0001211054 · Director · Exec. VP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,523