Hovnanian CFO Brad O'Connor Receives Performance-Based Equity Awards

Hovnanian Enterprises CFO Brad O'Connor received performance-based equity awards on June 12, 2026, including 3,852 Performance Share Units and 3,106 Phantom Shares. The Performance Share Units convert to Class A Common Stock on a one-for-one basis and vest based on service conditions through June 12, 2029 and achievement of specified performance criteria ending April 30, 2027, with settlement in shares on June 12, 2031. The Phantom Shares represent cash-settled awards based on future stock price. Both awards have variable payout potential ranging from 50% to 200% of the reported amounts depending on performance achievement during the relevant period. The awards were granted at $0 per share and represent standard executive compensation arrangements.