Wilcox McClelland W 4

What Happened
Wilcox McClelland, President of Hanover Bancorp (HNVR), disposed of 3,401 shares on February 20, 2026 as tax withholding related to restricted stock that vested the same day. The shares were disposed at $21.98 each across four withholding events, generating approximately $74,755 in aggregate proceeds. These transactions are tax-withholding dispositions (code F), not open-market sales motivated by trading.

Key Details

• Transaction date: February 20, 2026; filing date: February 24, 2026 (filed within the typical two-business-day window).
• Price: $21.98 per share for all reported disposals.
• Shares disposed: 421; 536; 624; and 1,820 — total 3,401 shares.
• Aggregate value reported: $74,755 (sum of individual disposition amounts).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1–F4 indicate these disposals were tax withholdings for restricted shares that vested on Feb 20, 2026, from grants dated Jan 27, 2022 (F4), Jan 24, 2023 (F2), Jan 19, 2024 (F3), and Jan 29, 2025 (F1).

Context
These were tax-withholding dispositions tied to vesting of restricted stock — a routine administrative event that reduces a grantee’s share count to satisfy tax obligations. Because the disposals are withholding (code F), they do not necessarily indicate a change in the insider’s view of the company and are different from voluntary open-market sales.