secwatch.observer — SEC 8-K summary
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Issuer:     Hanover Bancorp, Inc. /MD (HNVR)
CIK:        0001828588
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001558370-23-007096
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hanover Bancorp appoints Mac Wilcox as President, succeeding retired Brian Finneran
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- Wilcox appointed President effective April 26, 2023; previously Senior EVP and Chief Lending & Revenue Officer.
- He joined Hanover via the Savoy Bank acquisition in 2021, where he was President and CEO.
- New employment agreement provides 2x base salary plus bonus and equity value for termination without cause.
- For a change in control, severance increases to 2.99x compensation plus 36 months benefits continuation.
- Outgoing President Brian Finneran retired in February 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828588/000155837023007096/0001558370-23-007096-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828588/000155837023007096/hnvr-20230426x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007096

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer