Form 4: Orange County Bancorp CEO Acquires Shares Through Restricted Stock Units

Michael J. Gilfeather, President and CEO of Orange County Bancorp, acquired 8,583 shares of common stock on March 21, 2024, through the vesting of restricted stock units.

Summary

• On March 21, 2024, Michael J. Gilfeather, the President and CEO of Orange County Bancorp, acquired 8,583 shares of common stock.
• This acquisition was due to the vesting of restricted stock units.
• Following the transaction, Gilfeather directly owns 43,855 shares of common stock and indirectly owns 7,800 shares through an IRA.
• He also holds 8,047 shares of phantom stock, which become payable upon separation of service and reaching the age of 65.
• The restricted stock units vest at different rates and dates, including annual vesting commencing on February 15, 2022, September 21, 2022, February 15, 2023, March 11, 2024 and March 21, 2025, as well as a vesting date of December 31, 2026.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the CEO's acquisition of shares, even through vesting, signals confidence in the company. However, it's a routine transaction, so the impact is limited.

Positives

• The acquisition of shares by the CEO demonstrates confidence in the company's future.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• The acquisition of shares by the CEO could positively influence shareholder sentiment.

Key Dates