People: Hovnanian Enterprises, Inc. (HOVNP.O)

HOVNP.O on Consolidated Issue listed on NASDAQ Global Market

5.54USD
9 Feb 2010
Price Change (% chg)

$-0.05 (-0.86%)
Prev Close
$5.59
Open
$5.60
Day's High
$5.72
Day's Low
$5.50
Volume
4,700
Avg. Vol
2,869
52-wk High
$6.15
52-wk Low
$0.40

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Summary

Name Age Since Current Position
Hovnanian, Ara 52 2009 Chairman of the Board, President, Chief Executive Officer
Sorsby, J. Larry 54 2009 Chief Financial Officer, Executive Vice President, Director
Pellerito, Thomas 62 2010 Chief Operating Officer
Buchanan, Paul 59 2007 Senior Vice President, Chief Accounting Officer
Reinhart, Peter 59 2003 Senior Vice President, General Counsel
Valiaveedan, David 42 2009 Vice President - Finance, Treasurer
Weinroth, Stephen 71 1982 Director
Robbins, John 70 2001 Director
Kangas, Edward 65 2002 Director
Coutts, Robert 59 2006 Director
Marengi, Joseph 56 2006 Director
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Biographies

Name Description
Hovnanian, Ara Mr. Ara K. Hovnanian serves as President, Chief Executive Officer, Chairman of the Board & Director of Hovnanian Enterprises, Inc. He has been Chief Executive Officer since July 1997 after being appointed President in 1988 and Executive Vice President in 1983. Mr. A. Hovnanian joined the Company in 1979 and has been a Director of the Company since 1981 and was Vice Chairman from 1998 through November 2009. In November 2009, he was elected Chairman of the Board.
Sorsby, J. Larry Mr. J. Larry Sorsby serves as Executive Vice President, Chief Financial Officer and Director of Hovnanian Enterprises, Inc. He has been Chief Financial Officer of Hovnanian Enterprises, Inc. since 1996, and Executive Vice President since November 2000. Mr. Sorsby was also Senior Vice President from March 1991 to November 2000 and was elected as a Director of the Company in 1997.
Pellerito, Thomas Mr. Thomas J. Pellerito serves as Chief Operating Officer of Hovnanian Enterprises Inc. since January 21, 2010. He Pellerito joined the builder, currently the nation's sixth by annual sales, in connection with the acquisition of Washington Homes Inc. in 2001. He has served as a group president overseeing some home-building operations.
Buchanan, Paul Mr. Paul Buchanan serves as Senior Vice President and Chief Accounting Officer of Hovnanian Enterprises, Inc since December 2007. Mr. Buchanan was Senior Vice President and Corporate Controller from May 1990 until December 2007. Mr. Buchanan resigned as a Director of the Company on September 13, 2002, a position in which he had served since March 1982, for the purpose of reducing the number of non-independent board members.
Reinhart, Peter Mr. Peter S. Reinhart serves as Senior Vice President and General Counsel of Hovnanian Enterprises, Inc since April 1985. Mr. Reinhart resigned as a Director of the Company on September 13, 2002, a position in which he had served since December 1981, for the purpose of reducing the number of non-independent board members.
Valiaveedan, David Mr. David G. Valiaveedan serves as Vice President Finance and Treasurer of Hovnanian Enterprises, Inc. since December 2009. He joined the Company as Vice President Finance in September 2005. In August 2008, he was named as an Executive Officer of the Company and in December 2009 he was also named Treasurer. Prior to joining the Company, Mr. Valiaveedan served as Vice President - Finance for AIG Global Real Estate Investment Corp.
Weinroth, Stephen Mr. Stephen D. Weinroth is a Director of Hovnanian Enterprises, Inc. since 1982. He is a partner in Coral Reef Capital Partners, a private equity fund and was, until mid-2008, Managing Member of Hudson Capital Advisors, LLC, a private equity and merchant banking firm and Chairman of the Board of Cyalume Technologies, Inc., a manufacturer of military and safety equipment. From 1989 to 2003, he served as co-Chairman and head of the Investment Committee at First Britannia Mezzanine N.V., a European private investment firm. He is Chairman of the Board Emeritus of Core Laboratories, N.V. (NYSE), a global oil field service company where he had previously been Chairman of the Board. He was Vice Chair of the Central Asian American Enterprise Fund to which he was appointed by the President of the United States, and is Chairman of its successor, the US Central Asia Education Foundation. He is also Chairman of the Board of The Joyce Theatre Foundation Inc., as well as a recently retired Trustee of the Horace Mann School. Mr. Weinroth is a member of the Company’s Audit Committee, and Chairman of the Company’s Compensation Committee and Corporate Governance and Nominating Committee.
Robbins, John Mr. John J. Robbins is a Director of Hovnanian Enterprises, Inc. since January 2001. He was a managing partner of the New York Office of Kenneth Leventhal & Company and executive committee partner, retiring from the firm in 1992. He was made a partner of Kenneth Leventhal & Company in 1973. Mr. Robbins was a Trustee of Keene Creditors Trust from 1996 until July 2009. He was Director and the Chairman of the Audit Committee of Raytech Corporation from May 2003 until March 2007, and has been a Director and Chairman of the Audit Committee of Texas Petrochemicals Inc. from May 2006 until December 2009. Mr. Robbins is a member of the Company’s Audit Committee.
Kangas, Edward Mr. Edward A. Kangas is a Director of Hovnanian Enterprises, Inc. since September 2002. He was Chairman and Chief Executive Officer of Deloitte Touche Tohmatsu from December 1989 to May 2000, when he retired. He also serves on the Boards of United Technologies Corp. (NYSE), Eclipsys, Inc. (NASDAQ), Tenet Healthcare Corporation, Inc. (NYSE), and Intuit, Inc. (NASDAQ). He was on the Board of Electronic Data Systems, Inc. (NYSE) from 2004 to 2008. Mr. Kangas is the past Chairman of the Board of the National Multiple Sclerosis Society. Mr. Kangas is Chairman of the Company’s Audit Committee and a member of the Company’s Compensation Committee and Corporate Governance and Nominating Committee.
Coutts, Robert Mr. Robert B. Coutts is a Director of Hovnanian Enterprises, Inc. since March 2006. He retired from the position of Executive Vice President of Lockheed Martin Corporation (NYSE), which he held from 2000 to 2008. Mr. Coutts was President and COO of the former Electronics Sector of Lockheed Martin. He was elected an officer by the Board of Lockheed Martin in December 1996. Mr. Coutts held management positions with General Electric Corporation (NYSE) from 1972-1993, and was with GE Aerospace when it became part of Lockheed Martin in 1993. Mr. Coutts is the retired Chairman of Sandia Corporation, a subsidiary of Lockheed Martin Corp., and is on the Board of Directors of The Stanley Works (NYSE), as well as the Pall Corporation (PLL), and is also a member of the Board of Overseers, College of Engineering, Tufts University. He is a member of the Company’s Compensation Committee.
Marengi, Joseph Mr. Joseph A. Marengi is a Director of Hovnanian Enterprises, Inc. since March 2006. He serves as a Venture Partner for Austin Ventures since July 2007. Prior to that date, Mr. Marengi served as senior vice president for Dell Inc.’s (NASDAQ) Commercial Business Group. In this role, Mr. Marengi was responsible for the Dell units serving medium business, corporate, government, education and healthcare customers in the United States. Mr. Marengi joined Dell in July 1997 from Novell Inc. (NASDAQ), where he was president and chief operating officer. He joined Novell in 1989 and moved through successive promotions to become executive vice president of worldwide sales and field operations. He is also an outside Director for Quantum Corporation (NYSE) and serves as Chairman of the Board for Entorian Technologies, Inc. (NASDAQ). Mr. Marengi is member of the Company’s Corporate Governance and Nominating Committee.

Basic Compensation

Name Fiscal Year Total
Hovnanian, Ara 3,439,120
Sorsby, J. Larry 1,214,620
Pellerito, Thomas --
Buchanan, Paul 502,624
Reinhart, Peter 568,211
Valiaveedan, David 404,380
Weinroth, Stephen --
Robbins, John --
Kangas, Edward --
Coutts, Robert --
Marengi, Joseph --
As Of 30 Oct 2009

Options Compensation

Name Options Value
Hovnanian, Ara 3,670,834 48,031,640
Sorsby, J. Larry 445,417 6,775,150
Pellerito, Thomas 0 0
Buchanan, Paul 70,000 1,111,700
Reinhart, Peter 28,750 1,581,788
Valiaveedan, David 0 0
Weinroth, Stephen 0 0
Robbins, John 0 0
Kangas, Edward 0 0
Coutts, Robert 0 0
Marengi, Joseph 0 0

Insider Trading

Name Shares Traded Price
PELLERITO THOMAS J 293,320 $3.55
PELLERITO THOMAS J 6,680 $3.54
ROBBINS JOHN J 7,481 $0.00
MARENGI JOSEPH A 7,481 $0.00
COUTTS ROBERT B 7,481 $0.00
WEINROTH STEPHEN D 12,468 $0.00
KANGAS EDWARD A 12,468 $0.00
VALIAVEEDAN DAVID G 2,517 $0.00
VALIAVEEDAN DAVID G 816 $3.90
HOVNANIAN ARA K 121,181 $4.30
HOVNANIAN ARA K 150,000 $3.00
VALIAVEEDAN DAVID G 1,458 $0.00
REINHART PETER S 593 $2.58
BUCHANAN PAUL W 525 $2.58
REINHART PETER S 10,000 $0.85
HOVNANIAN KEVORK S 250,000 $0.00
HOVNANIAN KEVORK S 250,000 $0.00
BUCHANAN PAUL W 14,098 $0.00
REINHART PETER S 10,070 $0.00
BUCHANAN PAUL W 6,617 $1.74
REINHART PETER S 3,375 $1.74
ROBBINS JOHN J 12,820 $0.00
KANGAS EDWARD A 21,367 $0.00
WEINROTH STEPHEN D 21,367 $0.00
MARENGI JOSEPH A 12,820 $0.00
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