Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses HNVR in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named HNVR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Puorro | $716,000 | $0 | $491,047 | $0 | $235,147 | $0 | $57,688 | $1,499,882 |
| Chairman, President and Chief Executive Officer | ||||||||
| McClelland Wilcox | 575,000 | 0 | 274,993 | 0 | 0 | 0 | 37,177 | 887,170 |
| Former President | ||||||||
| Joseph Burns | 406,850 | 0 | 59,254 | 0 | 85,029 | 0 | 24,800 | 575,933 |
| Executive Vice President and Chief Lending Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Puorro | $1,499,882 | $1,131,468 | — | +368,414 |
| McClelland Wilcox | 887,170 | 821,724 | — | +65,446 |
| Joseph Burns | 575,933 | 517,969 | 182,793 | +57,964 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Lisa A. Diiorio | FSVP & Chief Accounting Off. | 2026-05-01 | D | 6,000 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Lisa A. Diiorio | FSVP & Chief Accounting Off. | 2026-05-01 | A | 6,000 | 13 | 78,000 | Common | Form 4 ↗ |
| Lisa A. Diiorio | FSVP & Chief Accounting Off. | 2026-05-01 | D | 3,879 | 24 | 92,010 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-06 | A | 10,000 | 13 | 130,000 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-06 | D | 10,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-19 | D | 2,259 | 23 | 51,483 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-19 | D | 1,012 | 23 | 23,291 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-27 | D | 1,295 | 24 | 30,471 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-05-29 | D | 1,514 | 24 | 35,893 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-06-02 | D | 1,847 | 23 | 42,668 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-06-10 | D | 8,419 | 24 | 203,759 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-06-12 | D | 3,763 | 24 | 90,379 | Common | Form 4 ↗ |
| Robert Golden | Director | 2026-06-12 | D | 661 | 24 | 16,005 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| McClelland Wilcox | OTHER | — | — | — | — | — | $274,993 |
| Joseph Burns | OTHER | — | — | — | — | — | 59,254 |
| Michael Puorro | OTHER | — | — | — | — | — | 491,047 |
Grant-level vehicle detail not disclosed.
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| McClelland Wilcox | PSU | 23,376 | — | $540,219 |
| Michael Puorro | RSU | 9,336 | — | 215,755 |
| Joseph Burns | PSU | 7,053 | — | 162,995 |
| Joseph Burns | RSU | 2,553 | — | 52,067 |
| Michael Puorro | PSU | 35,446 | — | 819,157 |
| McClelland Wilcox | RSU | 5,228 | — | 120,819 |
Our long-range mission is to produce value for our shareholders by providing outstanding service and responsiveness to the markets and customers we serve. These goals are reflected in our 2025 NEO Compensation and Benefits Program by: Creating balanced incentives that do not encourage NEOs to expose Hanover to inappropriate risks by providing excessive compensation that could lead to material loss; and Providing an overall market competitive compensation package to our NEOs to continue to attract, retain and reward our highly qualified and productive executive team.
| CEO STI target (% of salary) | 55% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | — | 43,001 | — | — | — | — |
| 2025 | — | 43,001 | — | — | — | — |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2025 | — | —a |
| 2026 | — | —b |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Robert GoldenIndependent · Lead Independent Director · Compensation · Nominating/Governance | $72,204 | $35,000 | $0 | $0 | $0 | $107,204 |
| Philip OkunIndependent · Audit · Compensation · Nominating/Governance | 70,954 | 35,000 | 0 | 0 | 0 | 105,954 |
| Ahron H. HaspelIndependent · Audit (Chair) · Compensation · Nominating/Governance (Chair) | 67,579 | 35,000 | 0 | 0 | 3,000 | 105,579 |
| Metin NegrinIndependent · Audit · Compensation (Chair) | 65,704 | 35,000 | 0 | 0 | 0 | 100,704 |
| Elena SistiIndependent · Audit | 61,329 | 35,000 | 0 | 0 | 0 | 96,329 |
| Michael KatzIndependent · Audit · Compensation · Nominating/Governance | 53,454 | 35,000 | 0 | 0 | 0 | 88,454 |
| John R. SorrentiIndependent | 50,079 | 35,000 | 0 | 0 | 0 | 85,079 |
| Varkey AbrahamIndependent · Nominating/Governance | 49,079 | 35,000 | 0 | 0 | 0 | 84,079 |
| Michael P. PuorroEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Michael ThadenIndependent · Compensation | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $36,996 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $490,382 |
| Equity awards (grant-date value) | $280,000 |
| All other compensation | $3,000 |
| Total cost of the board | $773,382 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Hanover Bancorp, Inc. | 2025 | Michael Puorro | $716,000 | $491,047 | $0 | $235,147 | $1,499,882 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Michael Puorro | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Summary Compensation Table”. As printed: 1,499,882. Filing ↗machine: r3 · c26 · span 225462–225471 |
| 2 | Section 01, McClelland Wilcox | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Summary Compensation Table”. As printed: 887,170. Filing ↗machine: r7 · c26 · span 235020–235027 |
| 3 | Section 01, Joseph Burns | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Summary Compensation Table”. As printed: 575,933. Filing ↗machine: r11 · c26 · span 243481–243488 |
| 4 | Section 03, McClelland Wilcox OTHER | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t74 · r7 · c11 · span 233846–233853 |
| 5 | Section 03, Joseph Burns OTHER | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t74 · r11 · c11 · span 242309–242315 |
| 6 | Section 03, Michael Puorro OTHER | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “EXECUTIVE COMPENSATION &” · grants of plan-based awards table. Filing ↗machine: t74 · r3 · c11 · span 224123–224130 |
| 7 | Section 07, pay ratio | 10-K | 2026-03-13 | 0001104659-26-027651 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 8 | Section 08, Robert Golden | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 107,204. Filing ↗machine: t82 · r3 · c11 · span 288299–288306 |
| 9 | Section 08, Philip Okun | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 105,954. Filing ↗machine: t82 · r7 · c11 · span 292826–292833 |
| 10 | Section 08, Ahron H. Haspel | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 105,579. Filing ↗machine: t82 · r4 · c11 · span 289423–289430 |
| 11 | Section 08, Metin Negrin | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 100,704. Filing ↗machine: t82 · r6 · c11 · span 291701–291708 |
| 12 | Section 08, Elena Sisti | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 96,329. Filing ↗machine: t82 · r8 · c11 · span 293946–293952 |
| 13 | Section 08, Michael Katz | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 88,454. Filing ↗machine: t82 · r5 · c11 · span 290533–290539 |
| 14 | Section 08, John R. Sorrenti | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 85,079. Filing ↗machine: t82 · r9 · c11 · span 295059–295065 |
| 15 | Section 08, Varkey Abraham | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 84,079. Filing ↗machine: t82 · r2 · c11 · span 287178–287184 |
| 16 | Section 08, Michael P. Puorro | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 17 | Section 08, Michael Thaden | DEF 14A | 2026-04-23 | 0001104659-26-047669 | Section “Director Compensation”. As printed: 0. Filing ↗machine: t82 · r10 · c11 · span 296285–296292 |
| 18 | Section 02, Lisa A. Diiorio 2026-05-01 | Form 4 | 2026-05-05 | 0001225208-26-004937 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, Lisa A. Diiorio 2026-05-01 | Form 4 | 2026-05-05 | 0001225208-26-004937 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Lisa A. Diiorio 2026-05-01 | Form 4 | 2026-05-05 | 0001225208-26-004937 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Robert Golden 2026-05-06 | Form 4 | 2026-05-08 | 0001225208-26-005020 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Robert Golden 2026-05-06 | Form 4 | 2026-05-08 | 0001225208-26-005020 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Robert Golden 2026-05-19 | Form 4 | 2026-05-21 | 0001225208-26-005526 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Robert Golden 2026-05-19 | Form 4 | 2026-05-21 | 0001225208-26-005526 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Robert Golden 2026-05-27 | Form 4 | 2026-05-29 | 0001225208-26-005639 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Robert Golden 2026-05-29 | Form 4 | 2026-06-02 | 0001225208-26-005715 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Robert Golden 2026-06-02 | Form 4 | 2026-06-04 | 0001225208-26-005793 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Robert Golden 2026-06-10 | Form 4 | 2026-06-12 | 0001225208-26-005973 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Robert Golden 2026-06-12 | Form 4 | 2026-06-16 | 0001225208-26-006060 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Robert Golden 2026-06-12 | Form 4 | 2026-06-16 | 0001225208-26-006060 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 06, 2025 vote | Form 8-K | 2025-03-26 | 0001104659-25-028261 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 32 | Section 06, 2026 vote | Form 8-K | 2026-04-23 | 0001104659-26-047669 | Item 5.07 · say-on-pay result. As reported: —. Filing ↗ |
| 33 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 34 | Section 09b board cost (computed) | Computed | — | computed | Cash 490,382 + equity 280,000 + all other 3,000 = 773,382, summed across the director compensation table rows.machine: formula: Σ = 773,382 |
| 35 | Hanover Bancorp, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-23 | 0001104659-26-047669 | CEO total compensation as printed in Hanover Bancorp, Inc.'s own proxy. As printed: 1,499,882. Filing ↗machine: r3 · c26 · span 225462–225471 |