Form 4: Hanover Bancorp President McClelland W. Wilcox Reports Acquisition and Disposal of Common Stock

McClelland W. Wilcox, President of Hanover Bancorp, Inc., reports acquiring and disposing of common stock on March 31, 2025, according to a Form 4 filing.

Summary

• On March 31, 2025, McClelland W. Wilcox, President of Hanover Bancorp, Inc., acquired 11,076 shares of common stock at $0 per share due to earned performance units granted on January 27, 2022.
• On the same day, Wilcox disposed of 6,125 shares at $22.65 per share to cover tax withholding related to the acquired performance units.
• Following these transactions, Wilcox beneficially owns 101,098 shares of Hanover Bancorp, Inc.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.

Positives

• The acquisition of shares reflects the vesting of performance units, suggesting the achievement of certain performance goals.

Negatives

• The disposal of shares to cover tax obligations reduces the overall increase in share ownership.

Industry Context

Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and beneficial ownership in the company.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they involve a relatively small number of shares compared to the total outstanding.

Key Dates

Keywords

Form 4, Hanover Bancorp, HNVR, Beneficial Ownership, Stock Acquisition, Stock Disposal, Performance Units, Tax Withholding, McClelland W. Wilcox, President