Form 4: Orange County Bancorp CEO Michael Gilfeather Reports Changes in Beneficial Ownership

Michael Gilfeather, President and CEO of Orange County Bancorp, reported changes in his beneficial ownership of the company's stock, including acquisitions of phantom stock and holdings through an IRA.

Summary

• Michael Gilfeather, the President and CEO of Orange County Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report indicates that Gilfeather directly owns 43,855 shares of common stock, which includes restricted stock vesting over several years.
• He also indirectly owns 7,800 shares through an IRA.
• Additionally, Gilfeather acquired phantom stock on June 15, 2024, representing 41 shares, with each share equivalent to one share of common stock and payable upon separation of service.
• The price of the phantom stock was $44.62.
• The filing was signed by Jennifer Staub under power of attorney on June 17, 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates changes in the CEO's holdings, which investors may monitor for insights into management's perspective on the company's value.

Stakeholder Impact

• Shareholders may be interested in the CEO's stock ownership as an indicator of alignment with their interests.

Key Dates