Gouverneur Bancorp (GOVB) Director Henry J. Leader Exercises Options

What Happened

• Henry J. Leader, a director of Gouverneur Bancorp (GOVB), exercised stock options on August 7, 2026, acquiring 542 common shares by paying $12.20 per share for a total cash outlay of $6,612. The filing also shows an earlier inheritance of 60 shares on February 6, 2026.
• The filing lists a simultaneous disposition entry for 542 derivative securities at $0.00; this reflects the cancellation/termination of the option instrument upon exercise (the option was converted into the acquired shares), not a market sale of the acquired shares.

Key Details

• Transaction dates: 2026-02-06 (inheritance of 60 shares, $0.00), 2026-08-07 (exercise of options for 542 shares at $12.20).
• Amount paid on exercise: 542 × $12.20 = $6,612.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes from the filing:
  • F1: Direct holdings include shares that were previously stock awards and have since vested.
  • F2: Stock awards under the 2025 Equity Incentive Plan vest in five equal annual installments starting Feb 11, 2026.
  • F3: Stock options under the 2025 plan vest in five roughly equal annual installments starting Feb 11, 2026.
• Filing and timing: Form 4 was filed on 2026-08-10 reporting the Aug 7 transaction; this filing date is within the normal SEC Form 4 reporting window.

Context

• This was an option exercise (derivative conversion) paid in cash at the stated exercise price, not a cashless exercise or an open-market sale of the new shares. The separate "disposition" line pertains to the option/derivative being surrendered on exercise, not a sale of common stock into the market.
• Inherited shares (gifts or wills) and option exercises are commonly routine and do not, by themselves, indicate the insider’s sentiment about the company.