Edgar Filing: HOVNANIAN ENTERPRISES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

HOVNANIAN ARA K

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	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

110 WEST FRONT STREET

3. Date of Earliest Transaction (Month/Day/Year)
09/13/2007

(Street)

RED BANK, NJ 07701

4. If Amendment, Date 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

(City)

(State)

(Zip)

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	09/13/2007		A		395,873	A	⁽¹⁾	2,138,228 ⁽²⁾	D
Class A Common Stock								71,099 ⁽³⁾	I	Held by trust for Esther K. Barry's family ⁽⁴⁾
Class A Common Stock								85,319 ⁽³⁾	I	Held by trust for Lucy K. Kalian's family ⁽⁵⁾
Class A Common Stock								30,737 ⁽³⁾	I	Held as trustee of trust for Ester K. Barry's family
Class A Common Stock								32,237 ⁽³⁾	I	Held as trustee of trust for Sossie K. Najarian's family
Class A Common Stock								30,487 ⁽³⁾	I	Held as trustee of trust for Nadia K. Rodriguez's family
Class A Common Stock								32,237 ⁽³⁾	I	Held as trustee of trust for Lucy K. Kalian's family
Class A Common Stock								157,271 ⁽²⁾	I	Held by the Ara K. Hovnanian 2004 GRAT ⁽⁶⁾
Class A Common Stock								13,974	I	Held by son Alexander
Class A Common Stock								6,700	I	Held by daughter Serena
Class A Common Stock								16,700	I	Held by wife

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Class B Common Stock

⁽⁷⁾

12/19/2006

1,800

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

1,800

⁽⁹⁾

1,686,920

Class B Common Stock

⁽⁷⁾

09/13/2007

395,873

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

395,873

⁽¹⁾

1,291,047

Class B Common Stock

⁽⁷⁾

12/19/2006

900

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

900

⁽⁹⁾

40,750

Held by daughter Serena

Class B Common Stock

⁽⁷⁾

12/19/2006

900

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

900

⁽⁹⁾

55,424

Held by son Alexander

Class B Common Stock

⁽⁷⁾

03/09/2007

6,150.31

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

6,150.31

⁽⁹⁾

512,648.93 ⁽³⁾

Held by trust for Lucy K. Kalian's family ⁽⁵⁾

Class B Common Stock

⁽⁷⁾

03/09/2007

5,125.26

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

5,125.26

⁽⁹⁾

427,207.93 ⁽³⁾

Held by trust for Esther K. Barry's family ⁽⁴⁾

Class B Common Stock

⁽⁷⁾

03/09/2007

4,100.21

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

4,100.21

⁽⁹⁾

1,085,210.92

Held by the Ara K. Hovnanian Family 1994 Long Term Trust ⁽¹⁰⁾

Class B Common Stock

⁽⁷⁾

03/09/2007

4,100.21

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

4,100.21

⁽⁹⁾

341,766.94 ⁽³⁾

Held by trust for Sossie K. Najarian's family ⁽¹¹⁾

Class B Common Stock

⁽⁷⁾

03/09/2007

4,100.21

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

4,100.21

⁽⁹⁾

237,596.14 ⁽³⁾

Held by trust for Nadia K. Rodriguez's family ⁽¹²⁾

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

250,000

Held by the Ara K. Hovnanian 2004 GRAT

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

128,132

Held by Reporting Person through partnership interests in the Limited Partnership

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

20,300

Held by wife

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

199,262

199,262 ⁽¹³⁾

Held by trust for the Reporting Person and his family

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

4,000

Held as trustee of the Alton Hovnanian Trust

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

4,000

Held as trustee of the Alexander Hovnanian Trust

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

33,579

Held as trustee for son Alexander

Class B Common Stock

⁽⁷⁾

⁽⁸⁾

Class A Common Stock

33,579

Held as trustee for daughter Serena

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
HOVNANIAN ARA K 110 WEST FRONT STREET RED BANK, NJ 07701	X	X

Signatures

Nancy A. Marrazzo Attorney-in-Fact		09/17/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	On September 13, 2007, in transactions approved in accordance with Rule 16b-3 under the Securities Exchange Act of 1934, as amended, the Issuer (i) exchanged 395,873 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 395,873 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.
(2)	On May 29, 2007 the Reporting Person received a distribution of 47,821 shares of Class A Common Stock from the Ara K. Hovnanian 2004 GRAT, of which the Reporting Person is trustee and the principal beneficiary. The Reporting Person's beneficial interest in such shares was not changed by such distribution.
(3)	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 beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose
(4)	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 (the "Limited Partnership")
(5)	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 Limited Partnership
(6)	Held by the Ara K. Hovnanian 2004 Grantor Retained Annuity Trust of which the reporting person is trustee and the principal beneficiary
(7)	The Class B Common Stock, par value $.01 per share, non-cumulative, is immediately convertible into an equal number of shares of Class A Common Stock, par value $.01 per share, non-cumulative
(8)	No expiration date
(9)	N/A
(10)	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 Limited Partnership
(11)	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 Limited Partnership
(12)	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 Limited Partnership
(13)	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.

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