Hovnanian Enterprises CEO Ara Hovnanian's 2019 pay falls 22% to $5.8M
Hovnanian Enterprises reports 2019 executive compensation
By ExecPay News
Published: February 7, 2020
Hovnanian Enterprises reported fiscal year 2019 executive compensation information on February 7, 2020.
In 2019, four executives at Hovnanian Enterprises received on average a compensation package of $3.2M, a 16% decrease compared to previous year.
Ara K. Hovnanian, Chief Executive Officer, received $5.8M in total, which decreased by 22% compared to 2018. 40.76% of Hovnanian's compensation, or $2.4M, was in non-equity incentive plan. Hovnanian also received $35.4K of change in pension value and nonqualified deferred compensation earnings, $131.6K in option awards, $1.3M in salary, $1.6M in stock awards, as well as $424.2K in other compensation.
For fiscal year 2019, the median employee pay was $89,065 at Hovnanian Enterprises. Therefore, the ratio of Ara K. Hovnanian's pay to the median employee pay was 65 to one.
J. Larry Sorsby, Chief Financial Officer, received a compensation package of $3M, which decreased by 8% compared to previous year. 46.92% of the compensation package, or $1.4M, was in non-equity incentive plan.
Lucian T. Smith III, Chief Operating Officer, earned $3M in 2019, a 13% decrease compared to previous year.
Brad G. O'Connor, Chief Accounting Officer, received $863.6K in 2019, which increases by 7% compared to 2018.
Hovnanian Enterprises' fiscal year ends on October 31.