Company: HOVVB
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0001753926-25-000367
Chunk: 6

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-28
Form: 10-Q
Item: Part II, Item 2
Chunk 6
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 16a-1(f) of the Exchange Act) of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

Appointment
of President

On
February 27, 2025, the Company’s Board of Directors (the “Board”) appointed
Alexander Hovnanian to the position of President, effective November 1,
2025. Ara K. Hovnanian, the Company’s current Chairman of the Board, President
and Chief Executive Officer, will serve as President through October 31, 2025,
and will continue to serve as Chairman of the Board and Chief Executive Officer
of the Company following the effective date of Mr. Alexander Hovnanian’s
appointment. Mr. Alexander Hovnanian, 34, has held the
position of Executive Vice President, National Homebuilding Operations since
March 2020. He joined the Company full-time in 2012 and has held various positions in the
Company's homebuilding operations. He attended Harvard Business School
from 2014 to 2016, and after obtaining his MBA, he returned
to employment with the Company. In November 2017, Mr. Hovnanian was appointed
Area President followed by a promotion to Division President of the Northeast
Division in December 2018. Mr. Alexander Hovnanian is the son of Mr. Ara
Hovnanian and is not a party to any transactions of the type listed in Item
404(a) of Regulation S-K. No determinations have been made at this time with
respect to any changes to Mr. Alexander Hovnanian’s compensatory arrangements
in connection with his appointment to President.

Appointment
of Chief Operating Officer

On
February 27, 2025, the Company’s Board appointed Michael Wyatt to the position
of Chief Operating Officer, effective November 1, 2025. Mr. Wyatt, 58, has been Group President of the
East Group operations since May 2020. He held the position of Region President
of the California Region from June 2019 to May 2020. He joined the Company as
Division President of the Northern California Division in September 2015. Prior
to joining the Company, Mr. Wyatt spent 16 years