secwatch.observer — SEC 8-K summary
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Issuer:     Hanover Bancorp, Inc. /MD (HNVR)
CIK:        0001828588
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001558370-24-009926
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hanover Bancorp enters into 3-year employment agreement with CFO Lance Burke
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- Lance Burke, CFO, gets $350k base salary, $800/mo auto allowance, subject to annual review.
- Employment term is 3 years, automatically renews annually unless 90-120 day notice given.
- Severance without cause: lump sum of base salary + highest bonus in 3 years + annual auto allowance, plus 1yr benefits.
- Change in control: severance 2x the same components, plus 2yr benefits, subject to 280G adjustment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828588/000155837024009926/0001558370-24-009926-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828588/000155837024009926/hnvr-20240718x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-009926

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