Form 4: Hanover Bancorp President's Routine Stock Withholding

Sentiment:

Insider Transaction Report 24 February 2026 8:35 AM

📋All filings for Hanover Bancorp, INC /NY

Hanover Bancorp President McClelland W. Wilcox reported routine tax withholding of common stock related to the vesting of restricted shares.

Summary

McClelland W. Wilcox, President of Hanover Bancorp, Inc. (HNVR), reported the disposition of common stock.
The transactions occurred on February 20, 2026, at a price of $21.98 per share.
A total of 3,401 shares (421 + 536 + 624 + 1,820) were disposed of.
These dispositions were for tax withholding purposes related to the vesting of restricted stock grants from January 2022, 2023, 2024, and 2025.
Following these transactions, Mr. Wilcox beneficially owns 97,697 shares of Hanover Bancorp common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine administrative action related to executive compensation rather than a discretionary sale or purchase.

Positives

The vesting of restricted shares indicates the fulfillment of long-term incentive compensation plans for a key executive.

Negatives

The disposition of shares for tax withholding reduces the executive's direct ownership, though this is a standard practice.

Future Outlook

Industry Context

StockSavvy.ai notes that routine tax withholding on vested restricted stock is a common and expected event for executives in publicly traded companies across all industries, reflecting standard compensation practices rather than a strategic move.

Stakeholder Impact

Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction related to executive compensation.
Employees: No direct impact on general employees.
Management: Reflects the realization of long-term incentive compensation for a key executive.

Key Dates

Date	Description
2022-01-27	Grant date of restricted stock related to a portion of the shares vested on 02/20/2026.
2023-01-24	Grant date of restricted stock related to a portion of the shares vested on 02/20/2026.
2024-01-19	Grant date of restricted stock related to a portion of the shares vested on 02/20/2026.
2025-01-29	Grant date of restricted stock related to a portion of the shares vested on 02/20/2026.
2026-02-20	Transaction date for tax withholding on vested restricted shares.
2026-02-23	Signature date of the reporting person on the Form 4 filing.

Recommendation

hold

This Form 4 filing details a routine, non-discretionary tax withholding event related to the vesting of restricted stock for a key executive. It does not provide new information that would fundamentally alter the investment thesis for Hanover Bancorp, thus a 'hold' recommendation is appropriate as it reflects standard executive compensation practices.

Keywords

Hanover Bancorp, HNVR, McClelland W. Wilcox, Form 4, Insider Transaction, Stock Vesting, Tax Withholding, Restricted Stock, Executive Compensation

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