Form 4: Hanover Bancorp Director Exercises Stock Options and Reports Beneficial Ownership
SEC Form 4 Filing
Director Varkey Abraham reports exercising stock options and adjusting beneficial ownership of Hanover Bancorp shares.
Summary
- On September 10, 2024, Varkey Abraham, a director of Hanover Bancorp, Inc. (HNVR), exercised non-qualified stock options for 3,217 shares of common stock at a price of $10 per share.
- Following the transaction, Abraham directly owns 42,747 shares of common stock and indirectly owns 13,334 shares through his spouse.
- The exercised options had an exercise price of $10 and were exercisable from October 1, 2017, to October 1, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard regulatory filing detailing a routine transaction.
Industry Context
This filing is a routine disclosure related to insider transactions and provides transparency to the market regarding the actions of company directors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 10/01/2017 | Start date the Non-Qualified Stock Options were exercisable |
| 09/10/2024 | Date of transaction: Director exercised stock options. |
| 10/01/2024 | Expiration date of the Non-Qualified Stock Options |
| 09/11/2024 | Date of report. |
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