Company: HOVVB
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0001753926-25-000367
Chunk: 5

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-02-28
Form: 10-Q
Item: Part II, Item 2
Chunk 5
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Recent Sales of Unregistered Equity Securities

None.

Issuer Purchases of Equity Securities 

On September 1, 2022, the Board authorized a repurchase program for up to $50.0 million of our Class A common stock. As of October 31, 2024, $6.5 million of our Class A common stock was available to be purchased under the stock repurchase program. On December 18, 2024, the Board authorized an incremental increase to our repurchase program. Under the repurchase program, as increased by the Board, inclusive of any amounts remaining under the existing repurchase authorization initially authorized by the Board on September 1, 2022, we are authorized to repurchase up to $26.5 million of our Class A common stock. Under the program, repurchases may be made from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual dollar amount repurchased will depend on a variety of factors, including legal requirements, price, future tax implications and economic and market conditions. The repurchase program may be changed, suspended or discontinued at any time and does not have a specified expiration date. As of January 31, 2025, $8.6 million of our Class A common stock is available to be purchased under the stock repurchase program.

The following table provides information relating to
the company’s repurchase of common stock for the first quarter of fiscal 2025.

Total Number of Shares Purchased

Average Price Paid Per Share

Total Number of Shares Purchased of Part of Publicly Announced Plans or Program

Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Program

November 1, 2024 through November 30, 2024

-

-

-

$6,487,677

December 1, 2024 through December 31, 2024

107,906

$137.95

107,906

$11,614,212

January 1, 2025 through January 31, 2025

23,554

$126.80

23,554

$8,627,511

Item 5. OTHER INFORMATION
 
During the three months ended January 31, 2025, no director or officer (as defined in Rule