PUORRO MICHAEL P 4
4 · Hanover Bancorp, Inc. /MD · Filed Feb 6, 2026
Research Summary
AI-generated summary of this filing
Hanover Bancorp CEO Michael Puorro Receives Restricted Stock Award
What Happened
Michael P. Puorro, Chairman, CEO and a director of Hanover Bancorp, Inc. (HNVR), was granted 10,945 shares of restricted stock on February 5, 2026. The Form 4 reports an acquisition price of $0.00 (a compensatory award), not an open-market purchase or sale.
Key Details
- Transaction date: 2026-02-05; Filing date (Form 4): 2026-02-06 (timely filing).
- Transaction type/code: Award/Grant (A). Price reported: $0.00.
- Shares granted: 10,945 restricted shares.
- Shares owned after transaction: not specified in the provided filing.
- Footnote: Grant is restricted stock subject to forfeiture; vests 1/3 on each of March 1, 2027, March 1, 2028, and March 1, 2029. (Footnote F1.)
- No 10b5-1 plan, tax-withholding sale, or immediate sale noted in the filing.
Context
Restricted stock awards are a form of executive compensation and typically vest over time, aligning executives with shareholder interests if they remain with the company. Because this was a grant (not a market purchase), it’s compensation disclosure rather than a direct bullish market signal; investors often treat purchases as stronger signals of insider conviction.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-05+10,945→ 326,046 total
Footnotes (1)
- [F1]Represents a grant of restricted stock subject to forfeiture, vesting over a three year period, with 1/3 vesting on each of March 1, 2027, March 1, 2028, and March 1, 2029.