Hanover Bancorp director sells 3,271 shares
Hanover Bancorp, Inc. director Robert Golden reported open-market sales of company common stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Hanover Bancorp, Inc. director Robert Golden reported open-market sales of company common stock. He sold a total of 3,271 shares in two transactions: 2,259 shares at a weighted average price of about $22.79 per share and 1,012 shares at about $23.01 per share. After these sales, he directly holds 32,997 shares. The filing also reports substantial indirect holdings in various trusts and entities associated with him and his family, including 195,358 shares in trusts for his benefit and additional large positions held for his spouse, children, and sibling, indicating the sales represent a small portion of his overall economic exposure to Hanover Bancorp.
Insider Trade Summary
Net Seller: 3,271 shares
Net Sell
9 txns
Insider
Golden Robert
Role
Director
Sold
3,271 shs ($75K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,012 | $23.0144 | $23K |
| Sale | Common Stock | 2,259 | $22.79 | $51K |
| 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 — 32,997 shares (Direct);
Common Stock — 195,358 shares (Indirect, See Footnote 2);
Common Stock — 80,769 shares (Indirect, See Footnote 3);
Common Stock — 42,771 shares (Indirect, See Footnote 4);
Common Stock — 25,000 shares (Indirect, See Footnote 5);
Common Stock — 2,239 shares (Indirect, See Footnote 6);
Common Stock — 8,846 shares (Indirect, See Footnote 7);
Common Stock — 30,000 shares (Indirect, See Footnote 8)
Footnotes (8)
- F1. The price reported in Column 4 is a weighted average price. These shares were sold in two separate transactions at prices of $22.7498 and $22.825, inclusive. The reporting person undertakes to provide to Hanover Bancorp, Inc., any security holder of Hanover Bancorp, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price mentioned within this footnote.
- F2. 195,358 shares held in trusts for the benefit of the Reporting Person, and of which the spouse of the Reporting Person is a trustee.
- F3. 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.
- F4. 42,771 shares held by a limited liability company which is controlled by the Reporting Person.
- F5. 25,000 shares held by the spouse of the Reporting Person.
- F6. 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.
- F7. 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.
- F8. 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 (May 20, 2026): 1,012 shares at $23.0144/share
Shares sold (May 19, 2026): 2,259 shares at $22.79/share
Total shares sold: 3,271 shares
+5 more
8 metrics
Shares sold (May 20, 2026)
1,012 shares at $23.0144/share
Open-market sale of common stock
Shares sold (May 19, 2026)
2,259 shares at $22.79/share
Open-market sale; weighted average price
Total shares sold
3,271 shares
Net shares sold across both transactions
Direct holdings after sale
32,997 shares
Common stock directly held following transactions
Trust holdings for reporting person
195,358 shares
Shares in trusts for the benefit of the reporting person
Trust holdings for sibling
80,769 shares
Shares in trusts for the benefit of sibling
LLC holdings controlled by reporter
42,771 shares
Shares held by a limited liability company controlled by the reporter
Spouse-held shares
25,000 shares
Shares held by the spouse of the reporting person
Key Terms
open-market sale, weighted average price, trusts for the benefit of the Reporting Person, limited liability company, +1 more
5 terms
open-market sale financial
"transaction_action: "open-market sale" for common stock on sale dates"
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.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
trusts for the benefit of the Reporting Person financial
"195,358 shares held in trusts for the benefit of the Reporting Person"
limited liability company financial
"42,771 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.
indirect ownership financial
"shares held in various trusts and entities reported as indirect holdings"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Hanover Bancorp (HNVR) disclose for Robert Golden?
Hanover Bancorp disclosed that director Robert Golden sold 3,271 shares of common stock in open-market transactions. These sales occurred over two days and are reported alongside his remaining direct and substantial indirect holdings in various family-related trusts and entities.
What indirect Hanover Bancorp (HNVR) holdings for Robert Golden are shown in the Form 4?
The Form 4 shows indirect holdings including 195,358 shares in trusts for his benefit, 80,769 shares in trusts for a sibling, 42,771 shares in a controlled LLC, 25,000 shares held by his spouse, and additional trusts for him and his descendants and children.
Does the Robert Golden Form 4 for Hanover Bancorp (HNVR) involve derivative securities or options?
No, the Form 4 only reports transactions in Hanover Bancorp common stock and indicates no derivative transactions or option exercises. The derivativeSummary section is empty, suggesting there were no options or other derivative securities exercised or transacted in this filing.
Are Robert Golden’s Hanover Bancorp (HNVR) sales classified as open-market transactions?
Yes, the Form 4 classifies both sales as open-market transactions with code "S". The description specifies they are sales in the open market or private transactions, and one sale includes a weighted average price across two separate execution prices near $22.75 and $22.83.
AI-generated analysis. How Rhea-AI works. Not financial advice.
