Form 4: Hanover Bancorp EVP Lance P. Burke Reports Tax Withholding on Vested Restricted Shares
SEC Form 4 Filing
Lance P. Burke, EVP & Chief Financial Officer of Hanover Bancorp, Inc., reports tax withholding related to vested restricted shares on August 1, 2024.
Summary
- On August 1, 2024, Lance P. Burke, the EVP & Chief Financial Officer of Hanover Bancorp, Inc., had 540 shares of common stock withheld to cover taxes.
- This withholding was related to restricted shares that vested on the same date, pursuant to a grant of restricted stock on August 1, 2021.
- Following the transaction, Burke directly owns 21,406 shares of Hanover Bancorp, Inc.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction related to executive compensation.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects a change in the executive's stock ownership due to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/01/2021 | Date of restricted stock grant |
| 08/01/2024 | Date of tax withholding and vesting of restricted shares |
| 08/05/2024 | Date of Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.