Hanover Bancorp (HNVR) director’s trust sells 8,419 shares, retains large stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hanover Bancorp director Robert Golden reported an insider transaction involving a trust for his benefit. On June 10, 2026, the trust sold 8,419 shares of common stock at an average of $24.2023 per share in an open-market or private transaction. That trust continues to hold 186,939 shares for his benefit, and Golden also has additional indirect trust and LLC interests plus 28,341 shares held directly.
Positive
- None.
Negative
- None.
Insights
Director-linked trust sells 8,419 Hanover Bancorp shares but retains a large position.
Director Robert Golden reported a Form 4 transaction where a trust for his benefit sold 8,419 Hanover Bancorp common shares at $24.2023. The code S indicates an open‑market or private sale, a direct discretionary disposition.
After the sale, that trust still holds 186,939 shares for his benefit, and other trusts and entities linked to him hold additional blocks, alongside 28,341 shares held directly. Given the size of the remaining position and lack of derivative activity, this looks like a routine partial sale rather than a transformational move.
Insider Trade Summary
Net Seller: 8,419 shares ($203,759)
Net Sell
8 txns
Insider
Golden Robert
Role
null
Sold
8,419 shs ($204K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 8,419 | $24.2023 | $204K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 186,939 shares (Indirect, See Footnote 2);
Common Stock — 28,341 shares (Direct, null)
Footnotes (1)
- These shares were sold from a trust for the benefit of the Reporting Person. 186,939 shares held in trusts for the benefit of the Reporting Person, and of which the spouse of the Reporting Person is a trustee. 80,769 shares held in various trusts for the benefit of the sibling of the Reporting Person, and of which the Reporting Person is a trustee. 42,771 shares held by a limited liability company which is controlled by the Reporting Person. 25,000 shares held by the spouse of the Reporting Person. 2,239 shares held by a trust for the benefit of the Reporting Person and his descendants, and of which the Reporting Person and an unrelated third party are trustees. 8,846 shares held in various trusts for the benefit of the children of the Reporting Person, and of which the Reporting Person is a trustee. 30,000 shares held in various trusts for the benefit of the children of the Reporting Person, and of which the spouse of the Reporting Person is a trustee.
Key Figures
Shares sold: 8,419 shares
Sale price: $24.2023 per share
Trust holdings after sale: 186,939 shares
+5 more
8 metrics
Shares sold
8,419 shares
Trust for benefit of Reporting Person sold on June 10, 2026
Sale price
$24.2023 per share
Average price for 8,419-share sale (code S)
Trust holdings after sale
186,939 shares
Held in trusts for benefit of Reporting Person after transaction
Direct holdings
28,341 shares
Common stock held directly by Reporting Person after transaction
Sibling’s trusts
80,769 shares
Held in various trusts for benefit of sibling, Reporting Person as trustee
LLC holdings
42,771 shares
Held by a limited liability company controlled by Reporting Person
Spouse holdings
25,000 shares
Held by spouse of Reporting Person
Children’s trusts
30,000 and 8,846 shares
Held in various trusts for benefit of children of Reporting Person
Key Terms
open-market sale, indirect ownership, trusts for the benefit of the Reporting Person, limited liability company, +1 more
5 terms
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
indirect ownership financial
"ownership_type": "indirect""
trusts for the benefit of the Reporting Person financial
"shares held in trusts for the benefit of the Reporting Person"
limited liability company financial
"shares held by a limited liability company which is controlled by the Reporting Person"
A limited liability company (LLC) is a business structure that separates the owners’ personal assets from the company’s debts and legal obligations, like a protective shield that keeps personal savings and property distinct from business risk. For investors, that protection reduces personal financial exposure and often brings flexible rules for profit sharing and taxes, but it can also affect how easily interests are bought or sold and how decisions are made.
Form 4 regulatory
"INSIDER FILING DATA (Form 4)"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did Hanover Bancorp (HNVR) report for Robert Golden?
Hanover Bancorp director Robert Golden reported that a trust for his benefit sold 8,419 shares of common stock. The sale occurred on June 10, 2026, as an open-market or private transaction at an average price of $24.2023 per share.
Is the Hanover Bancorp insider sale by Robert Golden a major position change?
The reported 8,419-share sale is small relative to remaining holdings, including 186,939 shares still in the main trust. Combined with other indirect interests and 28,341 directly held shares, the transaction appears to trim exposure rather than exit a substantial position.