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Article: Hovnanian Enterprises Comments on Executive's Option Exercises.
- Article from:
- PR Newswire
- Article date:
- October 28, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RED BANK, N.J., Oct. 28 /PRNewswire-FirstCall/ -- Hovnanian Enterprises, Inc. today announced that Ara K. Hovnanian, President and Chief Executive Officer, exercised expiring stock options to purchase 150,000 shares of Hovnanian Enterprises Class A common stock. Mr. Hovnanian surrendered to the Company approximately 121,000 shares of Class A common stock to pay the exercise price of the stock options and the related income taxes associated with the transaction. As a result of exercising these options, Mr. Hovnanian increased his holdings of the Company's Class A common stock by approximately 29,000 shares.
Mr. Hovnanian was granted these options under a ...
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