Hovnanian Enterprises: Ownership Update Filed

TL;DR

Ara K. Hovnanian filed another ownership update for HOV. Check the details.

AI Summary

Ara K. Hovnanian has amended his Schedule 13D filing for Hovnanian Enterprises, Inc. on June 28, 2024. This amendment, the tenth for this filing, indicates a change in the beneficial ownership of the company's Class A Common Stock. The specific details of the change in ownership percentage or number of shares are not provided in this excerpt.

Why It Matters

Changes in beneficial ownership filings like this can signal shifts in control or significant investment activity by major shareholders, potentially impacting stock price and corporate strategy.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, often indicate significant activity by large shareholders which can lead to price volatility.

Key Players & Entities

• Ara K. Hovnanian (person) — Filing person and beneficial owner
• HOVNANIAN ENTERPRISES INC (company) — Subject company
• Class A Common Stock (security) — Class of securities owned

FAQ

Key Financial Figures

• $0.01 — ies B Junior Preferred Stock, par value $0.01 per share, of the Issuer issued in conn

Filing Documents

• d666303dsc13da.htm (SC 13D/A) — 42KB
• 0001193125-24-174359.txt ( ) — 43KB

of the Schedule 13D is hereby amended and restated in its entirety as follows

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: (a) Ara K. Hovnanian beneficially owns 905,237.24 shares of Class A Common Stock, including 635,973 shares of Class A Common Stock receivable upon the conversion of a like number of shares of Class B Common Stock (including 50,000 shares of Class B Common Stock subject to vested options). The shares beneficially owned represent approximately 15.2% of the shares of Class A Common Stock, based upon 5,316,323 shares of Class A Common Stock outstanding as of May 28, 2024, plus (for purposes of computing such percentage) the shares of Class A Common Stock receivable upon the conversion of such shares of Class B Common Stock and vested equity awards and unvested equity awards vesting within 60 days. Such shares represent approximately 52.7% of the combined voting power of the Class A Common Stock and Class B Common Stock. The shares beneficially owned by Ara K. Hovnanian include: (i) 1 share of Class A Common Stock and 126,407 shares of Class A Common Stock receivable upon the conversion of a like number of shares of Class B Common Stock held by the 2012 LLC for which Ara K. Hovnanian is special purpose manager with respect to investments in securities of the Issuer, (ii) 411,731.24 shares of Class A Common Stock, which includes 185,163 shares of Class A Common Stock receivable upon the conversion of a like number of shares of Class B Common Stock held by trusts for the benefit of the family of Kevork S. Hovnanian for which Ara K. Hovnanian is the trustee with respect to investments in securities of the Issuer, (iii) 193,353 shares of Class A Common Stock receivable upon the conversion of a like number of shares of Class B Common Stock held by the Kevork S. Hovnanian Family Limited Partnership (the Limited Partnership) for which Ara K. Hovnanian is managing general partner, (iv) 9,137 shares of Class A Common Stock held in family related trusts as to which Ara K. Hovnanian has shar

View Full Filing

View this SC 13D/A filing on SEC EDGAR