X0306 4 2017-06-12 0000357294 HOVNANIAN ENTERPRISES INC HOV 0001211054 SORSBY J LARRY 110 WEST FRONT STREET RED BANK NJ 07701 1 1 Exec. VP and CFO Class A Common Stock 2017-06-12 4 M 0 11168.0000 0.0000 A 472529.0000 D Class A Common Stock 2017-06-12 4 F 0 5382.0000 2.2400 D 467147.0000 D Class A Common Stock 2017-06-13 4 M 0 7782.0000 0.0000 A 474929.0000 D Class A Common Stock 2017-06-13 4 M 0 7782.0000 0.0000 A 482711.0000 D Class A Common Stock 2017-06-13 4 F 0 7350.0000 2.2500 D 475361.0000 D Market Share Units 2017-06-12 4 M 0 15000.0000 0.0000 D 2020-06-12 Class A Common Stock 15000.0000 45000.0000 D Market Share Units 2017-06-13 4 M 0 15000.0000 0.0000 D Class A Common Stock 15000.0000 30000.0000 D Market Share Units 2017-06-13 4 M 0 15000.0000 0.0000 D 2019-06-13 Class A Common Stock 15000.0000 30000.0000 D On June 12, 2017, 15,000 Market Share Units vested and converted into 11,168 shares of Class A Common Stock, par value $.01 per share, non-cumulative ("Class A Common Stock"), pursuant to the terms of the award granted on June 12, 2015 On June 13, 2017, 15,000 Market Share Units vested and converted into 7,782 shares of Class A Common Stock pursuant to the terms of the award granted on June 13, 2014 On June 13, 2017, 15,000 Market Share Units vested and converted into 7,782 shares of Class A Common Stock pursuant to the terms of the award granted on June 13, 2014 that was subject to additional financial performance criteria that was determined to have been satisfied on December 15, 2016 Converts to Class A Common Stock on a one-for-one basis The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments beginning on June 12, 2017 The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments on the following vesting dates: January 1, 2017, June 13, 2017, June 13, 2018 and June 13, 2019 This amount reflects the forfeiture of Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award The Market Share Units vest, if at all and to the extent of specified market performance of the Class A Common Stock over each relevant vesting period, in four equal installments beginning on June 13, 2016 Nancy A. Marrazzo Attorney-in-Fact 2017-06-14