Form 4: Director Olga Tirado Boosts OBT Holdings

Orange County Bancorp Director Olga Tirado reported an acquisition of restricted stock units and phantom stock, increasing her beneficial ownership.

Summary

• Director Olga Luz Tirado reported changes in her beneficial ownership of Orange County Bancorp, Inc. (OBT).
• Acquired 2,097 shares of Common Stock, which are restricted stock units vesting 100% on February 20, 2026. These shares will be settled upon her separation from service.
• Acquired 50 shares of Phantom Stock on October 1, 2025, at a price of $25.1 per share. Each phantom stock is the economic equivalent of one common stock share and becomes payable upon her separation from service as a director.
• Following these transactions, Tirado beneficially owns 2,097 shares of Common Stock (restricted stock units) and 197 shares of Phantom Stock.

Sentiment

Score: 7

Explanation: Positive due to increased insider ownership and alignment of interests, but routine in nature as it represents compensation.

Positives

• Director Olga Luz Tirado increased her beneficial ownership in Orange County Bancorp, Inc. through the acquisition of restricted stock units and phantom stock.
• The acquisition of these equity-linked instruments aligns the director's interests with those of shareholders, as their value is tied to the company's stock performance.

Future Outlook

The 2,097 restricted stock units are scheduled to vest 100% on February 20, 2026, and will be settled in common stock upon the reporting person's separation from service. The 50 shares of phantom stock will become payable upon the reporting person's separation from service as a director.

Industry Context

The acquisition of restricted stock units and phantom stock is a common form of equity-based compensation for directors in the banking and financial services industry, designed to incentivize long-term commitment and align interests with shareholders.

Comparison to Industry Standards

• The use of restricted stock units and phantom stock for director compensation is a widely accepted practice across the financial services sector, comparable to compensation structures at regional banks and financial institutions.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value due to equity-based compensation.

Next Steps

• Vesting of 2,097 restricted stock units on February 20, 2026.
• Settlement of restricted stock units and phantom stock upon the director's separation from service.

Key Dates

Recommendation

This Form 4 filing details routine equity compensation for a director, which is a positive for aligning interests but does not present new information significant enough to warrant a change in investment recommendation. It confirms ongoing governance practices.

Keywords

Orange County Bancorp, OBT, insider transaction, Form 4, director compensation, restricted stock units, phantom stock, beneficial ownership