Jefferies Stephen Michael 4

What Happened
Stephen Michael Jefferies, President & CEO and a director of Gouverneur Bancorp, received two equity grants on March 2, 2026: 4,000 stock awards and 10,000 option awards. Both grants were reported as acquired for $0.00 (total reported cash cost $0). The 10,000 award is a derivative (options) grant, not an exercise or sale.

Key Details

• Transaction dates: March 2, 2026; Form filed March 3, 2026 (appears timely).
• Grants reported: 4,000 stock awards @ $0.00 (awarded); 10,000 option awards @ $0.00 (derivative/option award).
• Reported dollar value: $0 cash consideration for both grants.
• Shares owned after transaction: not specified in the provided Form 4 summary.
• Footnotes: F1 — stock awards vest in five equal annual installments beginning March 2, 2027. F2 — stock options vest in five equal annual installments beginning March 2, 2027.
• No indication these were exercises, sales, tax-withholding dispositions, or part of a 10b5-1 plan.

Context
These are compensation/retention grants under Gouverneur’s 2025 Equity Incentive Plan. The options are newly granted (not exercised) and both awards vest over five years beginning 3/2/2027, so they do not represent immediate liquidity or stock sales. For retail investors, such grants signal executive compensation alignment with long-term performance but are not direct purchases indicating immediate bullish buying.