Pelkey Duane Milton 4

What Happened

• Duane Pelkey, a director of Gouverneur Bancorp (GOVB), received a grant of 2,708 stock options reported as a derivative award on March 2, 2026. The filing records an acquisition price of $0.00 for reporting purposes; the award is listed as a derivative instrument (stock options), not an immediate share purchase.
• This is a compensation grant rather than an open-market purchase or sale. Such awards are common for directors and do not by themselves indicate a buy/sell market action.

Key Details

• Transaction date: March 2, 2026; Form 4 filed March 3, 2026 (no late filing indicated).
• Reported consideration: $0.00 per share in the filing (derivative award).
• Shares/options reported acquired: 2,708 stock options.
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnote: F1 — Options granted under the Gouverneur Bancorp, Inc. 2025 Equity Incentive Plan vest in five approximately annual installments beginning March 2, 2027.
• No 10b5-1 plan, tax withholding, or cashless exercise noted in this filing.

Context

• These are stock option awards: Pelkey receives the right to acquire shares in the future subject to the vesting schedule. Options must vest (over ~5 years per footnote) before he can exercise them.
• Grants are routine director compensation and should be interpreted differently than purchases (which may signal conviction) or sales (which may indicate liquidity needs).