Hanover Bancorp (HNVR) director awarded 1,592 restricted shares vesting by 2029
Rhea-AI Filing Summary
Hanover Bancorp, Inc. director John R. Sorrenti reported an equity award of common stock. On February 5, 2026, he received 1,592 shares of restricted common stock at a price of $0.0000 per share, increasing his holdings to 47,209 common shares owned directly.
The award is structured as restricted stock subject to forfeiture and time-based vesting. The shares vest in three equal installments, with one-third scheduled to vest on March 1, 2027, one-third on March 1, 2028, and the final third on March 1, 2029, aligning director compensation with longer-term company performance.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,592 shares
Net Buy
1 txn
Insider
Sorrenti John R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,592 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 47,209 shares (Direct)
Footnotes (1)
- F1. Represents a grant of restricted stock subject to forfeiture, vesting over a three year period, with 1/3 vesting on each of March 1, 2027, March 1, 2028, and March 1, 2029.
FAQ
What insider transaction did Hanover Bancorp (HNVR) report for John R. Sorrenti?
Hanover Bancorp reported that director John R. Sorrenti received 1,592 shares of restricted common stock on February 5, 2026. The grant was priced at $0.0000 per share and increased his directly owned stake to 47,209 common shares after the transaction.
What type of equity award did Hanover Bancorp (HNVR) grant to John R. Sorrenti?
The award to John R. Sorrenti was restricted common stock. He received 1,592 restricted shares subject to forfeiture and time-based vesting conditions, meaning the shares become fully his only as they vest over the specified three-year schedule through March 1, 2029.
Did John R. Sorrenti pay for the Hanover Bancorp (HNVR) restricted stock grant?
The reported transaction price for the restricted stock grant was $0.0000 per share. This indicates the 1,592 restricted shares were awarded as compensation rather than purchased in the open market, consistent with typical director equity grants.
Is John R. Sorrenti’s Hanover Bancorp (HNVR) ownership direct or indirect after this grant?
Following the transaction, John R. Sorrenti’s 47,209 Hanover Bancorp common shares are reported as held directly. The Form 4 lists his ownership form as Direct (D), with no indication of indirect holdings through separate entities or accounts.
AI-generated analysis. How Rhea-AI works. Not financial advice.