Company: HOVVB
Filing Date: 2025-02-07
Form Type: DEF 14A
Source: 0001140361-25-003579
Chunk: 75

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-07
Form: DEF 14A
Chunk 75
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 maintain stock ownership amounts that equal five times the total value of their annual retainer exclusive of any committee retainers (which represents $250,000 in total) within five years after they become subject to the guidelines upon their election to the Board. If a non-employee Director fails to achieve the required minimum ownership during the applicable five-year transition period, that person shall thereafter be required to retain 100% of shares of the Company’s common stock earned, net of taxes, until the targeted ownership level is attained. Under the policy, once the stock ownership guidelines are met, they are deemed satisfied for subsequent annual review periods, regardless of decreases in the Company’s stock price on the NYSE. The Corporate Governance and Nominating Committee reviews adherence to the Company’s stock ownership guidelines on an annual basis. The Company believes these ownership guidelines further enhance the Company’s commitment to aligning the interests of non-employee Directors with those of its stockholders. All non-employee Directors are currently in compliance with these stock ownership guidelines. 142 The following table summarizes the compensation of the Company’s non-employee Directors related to their service in fiscal 2024.

| Name                   |     |    Fees 
  Earned 
 or Paid 
 in Cash 
 ($) (1) |     |   Stock 
  Awards 
 ($) (2) |     | Option 
 Awards 
 ($)    |     | Non-Equity     
 Incentive Plan 
 Compensation   
 ($)            |     |     Change in 
 Pension Value 
           and 
  Nonqualified 
      Deferred 
  Compensation 
      Earnings 
       ($) (3) |     |    All Other 
 Compensation 
      ($) (4) |     |   Total 
     ($) |
| Robert B. Coutts       |     | 177,000 |     | 104,971 |     | —      |     | —              |     |             — |     |       15,000 |     | 296,971 |
| Miriam Hernandez-Kakol |     | 177,000 |     | 104,971 |     | —      |     | —              |     |             — |     |       15,000 |     | 296,971 |
| Edward A. Kangas       |     | 272,000 |     | 119,984 |     | —      |     | —              |     |             — |     |       15,000 |     | 406,984 |
| Joseph A. Marengi