Hovnanian Enterprises reports 2018 executive compensation
CEO Ara K. Hovnanian receives $7.5M
Hovnanian Enterprises reported fiscal year 2018 executive compensation information on February 4, 2019.
In 2018, four executives at Hovnanian Enterprises received on average a compensation package of $3,770,382, a 41% increase compared to previous year.Average pay of disclosed executives at Hovnanian Enterprises
Ara K. Hovnanian, Chief Executive Officer, received $7,482,639 in total, which increased by 42% compared to 2017. 40.13% of Hovnanian's compensation, or $3,002,850, was in non-equity incentive plan. Hovnanian also received $32,517 of change in pension value and nonqualified deferred compensation earnings, $250,942 in option awards, $1,229,922 in salary, $2,507,073 in stock awards, as well as $459,335 in other compensation.
Lucian T. Smith III, Chief Operating Officer, received a compensation package of $3,484,767, which increased by 29% compared to previous year. 60.20% of the compensation package, or $2,097,685, was in non-equity incentive plan.
J. Larry Sorsby, Chief Financial Officer, earned $3,304,746 in 2018, a 59% increase compared to previous year.
Brad G. O'Connor, Chief Accounting Officer, received $809,374 in 2018, which increases by 22% compared to 2017.
Hovnanian Enterprises' fiscal year ends on October 31.