Form 4: Orange County Bancorp CEO Michael Gilfeather Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Orange County Bancorp's CEO, Michael J. Gilfeather, reported the acquisition of phantom stock and holdings in common stock, as per a Form 4 filing with the SEC.
Summary
- Michael J. Gilfeather, the President and CEO of Orange County Bancorp, Inc., filed a Form 4 with the SEC.
- The filing reports changes in beneficial ownership of the company's securities.
- Gilfeather directly owns 43,295 shares of common stock.
- He also indirectly owns 7,925 shares of common stock through an IRA.
- Additionally, he acquired 223 shares of phantom stock on January 2, 2025, at a price of $53.98 per share.
- Following the reported transaction, he beneficially owns 8,378 derivative securities (phantom stock).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 02/15/2023 | Restricted stock units vest at a rate of 1/3 per year commencing on this date. |
| 03/11/2024 | Restricted stock units vest at a rate of 1/3 per year commencing on this date. |
| 1/02/2025 | Date of transaction for phantom stock acquisition. |
| 01/28/2025 | Date of signature for the report. |
| 03/21/2025 | Restricted stock units vest at a rate of 1/3 per year commencing on this date. |
| 12/31/2026 | Restricted stock units vest on this date. |
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