X0202 4 2007-11-16 0000357294 HOVNANIAN ENTERPRISES INC HOV 0000938549 HOVNANIAN ARA K 110 WEST FRONT STREET RED BANK NJ 07701 1 1 1 President and CEO Class A Common Stock 2007-11-16 4 A 0 500000 0 A 2638228 D Class A Common Stock 30737 I Held as trustee of trust for Esther K. Barry's family Class A Common Stock 32237 I Held as trustee of trust for Lucy K. Kalian's family Class A Common Stock 30487 I Held as trustee of trust for Nadia K. Rodriguez's family Class A Common Stock 32237 I Held as trustee of trust for Sossie K. Najarian's family Class A Common Stock 6700 I Held by daughter Serena Class A Common Stock 13974 I Held by son Alexander Class A Common Stock 157271 I Held by the Ara K. Hovnanian 2004 GRAT Class A Common Stock 71099 I Held by trust for Esther K. Barry's family Class A Common Stock 85319 I Held by trust for Lucy K. Kalian's family Class A Common Stock 16700 I Held by wife Class B Common Stock 0 2007-11-16 4 D 0 500000 0 D Class A Common Stock 500000 791047 D Class B Common Stock Class A Common Stock 33579 33579 I Held as trustee for daughter Serena Class B Common Stock Class A Common Stock 33579 33579 I Held as trustee for son Alexander Class B Common Stock Class A Common Stock 4000 4000 I Held as trustee of the Alexander Hovnanian Trust Class B Common Stock Class A Common Stock 4000 4000 I Held as trustee of the Alton Hovnanian Trust Class B Common Stock Class A Common Stock 199262 199262 I Held as trustee of the KSH 2004 GRAT in which Reporting Person has a potential remainder interest Class B Common Stock Class A Common Stock 40750 40750 I Held by daughter Serena Class B Common Stock Class A Common Stock 128132 128132 I Held by Reporting Person through partnership interests in the Limited Partnership. Class B Common Stock Class A Common Stock 55424 55424 I Held by son Alexander Class B Common Stock Class A Common Stock 250000 250000 I Held by the Ara K. Hovnanian 2004 GRAT Class B Common Stock Class A Common Stock 1085210.92 1085210.92 I Held by the Ara K. Hovnanian Family 1994 Long-Term Trust Class B Common Stock Class A Common Stock 427207.93 427207.93 I Held by trust for Esther K. Barry's family Class B Common Stock Class A Common Stock 512648.93 512648.93 I Held by trust for Lucy K. Kalian's family Class B Common Stock Class A Common Stock 237596.14 237596.14 I Held by trust for Nadia K. Rodriguez's family Class B Common Stock Class A Common Stock 341766.94 341766.94 I Held by trust for Sossie K. Najarian's family Class B Common Stock Class A Common Stock 20300 20300 I Held by wife On November 16, 2007, in transactions approved in accordance with Rule 16b-3 under the Securities Exchange Act of 1934, as amended, the Issuer (i) exchanged 500,000 shares of Class B Common Stock held by the Reporting Person for an equal number of shares of Class A Common Stock and (ii) immediately thereafter exchanged the 500,000 shares of Class B Common Stock received from the Reporting Person for an equal number of shares of Class A Common Stock held by Kevork S. Hovnanian. The aggregate Hovnanian family holdings of shares, both of Class A Common Stock and Class B Common Stock, remain unchanged by such exchanges. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his potential pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of the beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose Held by The Esther K. Barry Family 1994 Long-Term Trust, of which the reporting person is trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by The Lucy K. Kalian Family 1994 Long-Term Trust, of which the reporting person is trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by The Nadia K. Rodriquez Family 1994 Long-Term Trust, of which the reporting person is trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by the Ara K. Hovnanian 2004 Grantor Retained Annuity Trust of which the reporting person is trustee and the principal beneficiary Held by The Esther K. Barry Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by The Lucy K. Kalian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership The Class B Common Stock, par value $.01 per share, non-cumulative, is immediately converted into an equal number of shares of Class A Common Stock, per value $.01 per share, non-cumulative No expiration date Following the final transfer of shares to the principal beneficiary of the KSH 2004 GRAT, of which the Reporting Person was the trustee and had a potential remainder interest, the remaining 199,262 shares of Class B Common Stock held by the KSH 2004 GRAT were, pursuant to the original terms of the GRAT, transferred to a trust for the benefit of the Reporting Person and his family. The Reporting Person is a trustee of this new trust. The Reporting Person's beneficial interest in shares was not changed by such transfer. Held by The Ara K. Hovnanian Family 1994 Long-Term Trust, of which the reporting person is trustee, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership (the "Limited Partnership") Held by The Nadia K. Rodriquez Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Held by The Sossie K. Najarian Family 1994 Long-Term Trust, of which the reporting person is a trustee and has a potential remainder interest, including shares held through a partnership interest in the Kevork S. Hovnanian Family Limited Partnership Nancy A. Marazzo Attorney-in-Fact 2007-11-20