Form 4: Hanover Bancorp Director Philip A. Okun Receives Stock Grant

Director Philip A. Okun of Hanover Bancorp, Inc. was granted 1,331 shares of restricted stock on January 29, 2025.

Summary

• Philip A. Okun, a director at Hanover Bancorp, Inc., received a grant of 1,331 shares of common stock on January 29, 2025.
• The stock is restricted and will vest over a five-year period.
• One-fifth of the shares will vest annually on February 20th, starting in 2026 and ending in 2030.
• The grant was made at a price of $0.

Sentiment

Score: 7

Explanation: The document reflects a standard corporate practice of granting stock to a director, which is generally viewed positively for aligning interests. There are no negative implications.

Positives

• The stock grant aligns the director's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and contribution from the director.

Industry Context

Stock grants to directors are a common practice in corporate governance to align their interests with shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Stock grants are a standard form of compensation for directors across various industries.
• The five-year vesting period is a typical timeframe for such grants, designed to retain directors and encourage long-term commitment.
• The specific number of shares granted would be compared to similar grants at peer companies to assess its relative value.

Stakeholder Impact

• The stock grant may be viewed positively by shareholders as it aligns the director's interests with the company's long-term performance.
• The grant does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

stock grant, restricted stock, director, Hanover Bancorp, insider transaction, equity compensation, vesting