Form 4: Hanover Bancorp EVP Kevin Corbett Reports Stock Disposals for Tax Withholding
SEC Form 4
Kevin Corbett, EVP & Chief Credit Officer of Hanover Bancorp, reported the disposal of common stock to cover tax obligations related to vesting restricted shares.
Summary
- On February 20, 2025, Kevin Corbett, EVP & Chief Credit Officer of Hanover Bancorp, disposed of shares of common stock to satisfy tax withholding obligations.
- These disposals were related to the vesting of restricted stock granted on January 27, 2022, January 24, 2023, and January 19, 2024.
- The transactions involved the disposal of 794 shares, 168 shares, and 202 shares at a price of $25.53 per share.
- Following these transactions, Corbett directly owns 24,374 shares of Hanover Bancorp common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects routine tax obligations related to stock vesting and doesn't indicate a change in the company's fundamentals or insider confidence.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals for tax obligations are common when restricted stock vests.
Key Dates
| Date | Description |
|---|---|
| January 27, 2022 | Date of restricted stock grant related to tax withholding. |
| January 24, 2023 | Date of restricted stock grant related to tax withholding. |
| January 19, 2024 | Date of restricted stock grant related to tax withholding. |
| February 20, 2025 | Date of stock disposal for tax withholding. |
| February 24, 2025 | Date of signature on the Form 4. |
Keywords
Form 4, Hanover Bancorp, HNVR, Kevin Corbett, Stock Disposal, Tax Withholding, Restricted Stock, EVP, Chief Credit Officer
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