Form 4: OBT Director Schiller Reports Stock Holdings

Orange County Bancorp Director Jon Schiller filed a Form 4 detailing his beneficial ownership of common stock and phantom stock units.

Summary

• Jon Schiller, a Director of Orange County Bancorp, Inc. (OBT), filed a Statement of Changes in Beneficial Ownership (Form 4).
• The filing reports his beneficial ownership of 12,446 shares of Common Stock.
• These 12,446 shares include restricted stock units that vest 100% on February 20, 2026, and will be settled in common stock upon his separation from service.
• He also acquired 11 shares of Phantom Stock on September 16, 2025, at a price of $25.95 per share.
• Each phantom stock share is the economic equivalent of one common stock share and becomes payable upon his separation from service as a director.
• Following the reported transaction, he beneficially owns 2,276 derivative securities (phantom stock).

Sentiment

Score: 5

Explanation: This is a routine regulatory filing (Form 4) detailing changes in a director's beneficial ownership. It reflects standard equity compensation and transparency requirements, without indicating significant positive or negative operational or financial news for the company.

Positives

• Increased transparency regarding director's equity holdings.
• The acquisition of phantom stock and holding of restricted stock units align the director's interests with long-term shareholder value.

Future Outlook

The restricted stock units are scheduled to vest on February 20, 2026, and both restricted stock units and phantom stock will be settled upon the reporting person's separation from service.

Industry Context

This is a routine disclosure of insider ownership changes, common across all publicly traded companies, reflecting standard compensation practices for directors, which often include equity-based incentives to align interests with shareholders.

Related Party Transactions

• The filing details equity grants to a director, which are a form of related party transaction, specifically compensation.

Stakeholder Impact

• Shareholders: Provides transparency regarding director equity holdings, aligning director interests with shareholder value through equity compensation.

Next Steps

• Restricted stock units will vest on February 20, 2026.
• Both restricted stock units and phantom stock will be settled upon Jon Schiller's separation from service as a director.

Key Dates

Keywords

Orange County Bancorp, OBT, Jon Schiller, Form 4, insider ownership, director, common stock, phantom stock, restricted stock units, beneficial ownership