Burke Lance P 4

What Happened Lance P. Burke, Chief Financial Officer of Hanover Bancorp, received a grant of 3,185 restricted shares (transaction code A) on February 5, 2026. The filing reports an acquisition price of $0 because this was an award of restricted stock rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed within the standard two-business-day window).
• Shares granted: 3,185 restricted shares; reported acquisition price: $0 (award/compensation).
• Vesting: Grant is subject to forfeiture and vests in three equal annual installments — 1/3 on March 1, 2027; 1/3 on March 1, 2028; 1/3 on March 1, 2029 (per footnote).
• Shares owned after the transaction: Not specified in the filing.
• No 10b5-1 plan, tax-withholding sale, or sale activity reported in this Form 4 — this is a compensation grant, not a sale or exercise.

Context Restricted stock awards are a form of compensation that vest over time and are not immediate cash transactions; they do not represent an open‑market purchase or sale. Such grants are common for executives and primarily reflect compensation arrangements rather than an immediate signal of the insider’s view on the stock.