Note 17 - Transactions With Related Parties

12 Months Ended

Oct. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

17.

Transactions with Related Parties

During the years ended

October 31, 2018,

2017

and

2016,

an engineering firm owned by Tavit Najarian, a relative of Ara K. Hovnanian, our Chairman of the Board and

one

of our executive officers, provided services to the Company totaling

$0.7

million,

$0.8

million and

$1.0

million, respectively. Neither the Company nor Mr. Hovnanian has a financial interest in the relative’s company from whom the services were provided.

Mr. Carson Sorsby, the son of J. Larry Sorsby,

one

of our directors and executive officers, is employed by the Company’s mortgage subsidiary. His total commissions from the Company’s mortgage affiliate totaled approximately 

$148,000,

$191,000

and

$152,000

in fiscal

2018,

2017

and

2016,

respectively.

Mr. Alexander Hovnanian, the son of Ara K. Hovnanian, our Chairman of the Board and

one

of our executive officers, is employed by the Company. Mr. Hovnanian was an Area Vice President in the Company’s Hudson/North Jersey Area during fiscal

2018

and was promoted to Division President of the Northeast Division in fiscal

2019.

His total compensation was approximately

$514,000,

$336,000

 and

$166,000

in fiscal

2018,

2017

and

2016,

respectively.