Abraham Varkey 4

What Happened Abraham Varkey, a director of Hanover Bancorp, was granted 1,592 shares of restricted common stock on February 5, 2026. The Form 4 reports the acquisition price as $0.00 (an equity award for compensation), so the filing shows $0 cash paid for the shares. This is a compensation grant rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed late relative to the typical 2-business-day deadline).
• Transaction type/code: A = Award/Grant.
• Shares granted: 1,592 shares at $0.00 (reported value on the Form 4 = $0).
• Vesting: Per footnote F1, the restricted shares vest 1/3 on each of March 1, 2027; March 1, 2028; and March 1, 2029, and are subject to forfeiture until vested.
• Shares owned after transaction: Not specified in the provided filing.
• No tax withholding, sale, or 10b5-1 plan noted in the supplied details.

Context Restricted stock awards are a form of compensation/retention and are subject to forfeiture until vested, so they are not immediate market purchases or sales and don’t necessarily signal near-term trading intent. The filing appears to have been submitted after the usual two-business-day window, which is an administrative reporting lapse noted here (filing timeliness = L).