SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* SORSBY J LARRY (Last) (First) (Middle) 110 WEST FRONT STREET (Street) RED BANK NJ 07701 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HOVNANIAN ENTERPRISES INC [ HOV ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Exec. VP and CFO
	3. Date of Earliest Transaction (Month/Day/Year) 06/12/2017
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/12/2017		M(1)		11,168	A	$0.0000	472,529	D
Class A Common Stock	06/12/2017		F		5,382	D	$2.24	467,147	D
Class A Common Stock	06/13/2017		M(2)		7,782	A	$0.0000	474,929	D
Class A Common Stock	06/13/2017		M(3)		7,782	A	$0.0000	482,711	D
Class A Common Stock	06/13/2017		F		7,350	D	$2.25	475,361	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Market Share Units	(4)	06/12/2017		M(1)			15,000	(5)	06/12/2020	Class A Common Stock	15,000	$0.0000	45,000	D
Market Share Units	(4)	06/13/2017		M(3)			15,000	(6)	(6)	Class A Common Stock	15,000	$0.0000	30,000(7)	D
Market Share Units	(4)	06/13/2017		M(2)			15,000	(8)	06/13/2019	Class A Common Stock	15,000	$0.0000	30,000(7)	D

Explanation of Responses:

1. 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

2. 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

3. 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

4. Converts to Class A Common Stock on a one-for-one basis

5. 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

6. 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

7. This amount reflects the forfeiture of Market Share Units, without any vesting, that occurred in previous years pursuant to the terms of the award

8. 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	06/14/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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