Form 4: Hanover Bancorp Director Okun Reports Stock Transactions
SEC Form 4 Filing
Director Philip A. Okun reports acquisition and disposal of Hanover Bancorp stock, including stock options exercise and restricted stock grant.
Summary
- On March 1, 2024, Philip A. Okun, a director of Hanover Bancorp, Inc., was granted 2,117 shares of restricted common stock.
- These shares vest over five years, with 1/5 vesting annually starting March 1, 2025.
- On March 5, 2024, Okun exercised 8,139 non-qualified stock options at a price of $10.
- Also on March 5, 2024, Okun disposed of 4,938 shares at $16.48.
- Following these transactions, Okun directly owns 37,646 shares of Hanover Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey any explicit positive or negative sentiment about the company's performance or prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It doesn't necessarily reflect broader industry trends but offers insight into the actions of a key individual within Hanover Bancorp.
Stakeholder Impact
- Shareholders may be interested in the trading activity of company directors as it can provide insights into their perspective on the company's value.
Key Dates
| Date | Description |
|---|---|
| 10/01/2017 | Date exercisable for Non-Qualified Stock Option |
| 03/01/2024 | Grant date of 2,117 restricted stock shares. |
| 03/05/2024 | Exercise of 8,139 stock options and disposal of 4,938 shares. |
| 10/01/2024 | Expiration date for Non-Qualified Stock Option |
| 03/01/2025 | First vesting date for restricted stock (1/5 of total). |
| 03/01/2026 | Second vesting date for restricted stock (1/5 of total). |
| 03/01/2027 | Third vesting date for restricted stock (1/5 of total). |
| 03/01/2028 | Fourth vesting date for restricted stock (1/5 of total). |
| 03/01/2029 | Final vesting date for restricted stock (1/5 of total). |
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