Company: HOVVB
Filing Date: 2025-02-07
Form Type: DEF 14A
Source: 0001140361-25-003579
Chunk: 61

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-07
Form: DEF 14A
Chunk 61
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676,461 |                — |       19,007 |  6,829,001 |
| Alexander A.       
 Hovnanian          
 Executive Vice     
 President,         
 National           
 Homebuilding       
 Operations         | 2024 |   604,615 | —     | 1,000,008 | —      |    1,050,000 |                — |       38,978 |  2,693,601 |

110 (1) “Salary” Column. Reflects the prorated base salary for each fiscal year since base salary changes generally occur after the beginning of the fiscal year. (2) “Stock Awards” Column. For fiscal 2024, this column reflects the aggregate grant date fair value of the PSU awards and the 2024 LTIP awards granted to the NEOs based upon the probable outcome of the performance conditions as of the grant date. The PSUs included in the table above are subject to performance, and, if earned, awards are subject to vesting restrictions that extend through June 14, 2027 and a mandatory two-year post-vesting delayed delivery that extends through June 14, 2029. The 2024 LTIP awards included in the table above are subject to performance over a three-year period (fiscal 2024, 2025 and 2026), and, if earned, awards are subject to a mandatory two-year post-vesting delayed delivery that extends through the end of fiscal 2028. The grant date fair values were, in each case, computed in accordance with FASB ASC Topic 718. Assumptions used in the calculation of these amounts are set forth in footnote (15) to the Company’s audited financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024. Assuming the highest level of achievement on performance awards as of the grant date, the aggregate grant date fair values of the PSUs granted in fiscal 2024 would have been $4,548,194, $1,099,993, $280,241 and $1,099,993 for Messrs. Ara Hovnanian, O’Connor, Wyatt and Alexander Hovnanian, respectively, and the aggregate grant date fair values of the 2024 LTIP awards granted in fiscal 2024 would have been $5,031,478, $1,125,174, $1,012,647 and $1,125