Golden Robert 4

What Happened
Robert Golden, a director of Hanover Bancorp, exercised 10,000 stock options on May 6, 2026, acquiring 10,000 shares of HNVR at $13.00 per share for a total cash outlay of $130,000. The Form 4 also reports the corresponding disposition of 10,000 derivative securities at $0, which reflects the conversion/termination of the options upon exercise (a non‑cash disposition). Footnotes state the options were granted under the 2016 Stock Option Plan and were fully vested and exercisable.

Key Details

• Transaction date: 2026-05-06; filing date: 2026-05-08 (filed within the typical 2-business-day window).
• Exercise: 10,000 shares acquired at $13.00 each; total consideration $130,000 (Form 4 code M = option exercise).
• Derivative disposition: 10,000 derivative securities reported disposed at $0, reflecting conversion of options to common stock.
• Shares owned/control after the transaction: per footnotes the reporting person beneficially controls/holds ~384,983 shares before this exercise; after adding the 10,000 acquired shares the total is ~394,983 shares. (Footnotes detail holdings in various trusts and an LLC.)
• Notable footnotes: F1 confirms the shares were acquired by exercising options; F9 notes options were fully vested and exercisable. No 10b5‑1 plan, tax withholding sale, or late‑filing flag is indicated on the form.

Context
This was an exercise of vested options (a purchase of company stock via exercise), not an open‑market sale. Exercises are often routine for option holders and do not by themselves indicate a decision to sell shares or a change in view of the company.