Form 4: Orange County Bancorp CEO Michael Gilfeather Reports Changes in Beneficial Ownership
SEC Form 4 Filing
CEO Michael Gilfeather reports a disposition of 2,806 common stock shares to cover tax obligations related to vesting restricted stock units, while still holding a significant number of shares directly and indirectly.
Summary
- Michael J Gilfeather, President and CEO of Orange County Bancorp, Inc., filed a Form 4 on March 25, 2025, reporting changes in his beneficial ownership of the company's stock.
- On March 21, 2025, Gilfeather disposed of 2,806 shares of common stock at a price of $24.15 per share.
- This transaction was related to the vesting of restricted stock units.
- Following the transaction, Gilfeather directly owns 105,488 shares of common stock and indirectly owns 15,850 shares through an IRA.
- He also holds 21,688 shares of phantom stock, which are payable upon separation of service.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the CEO's stock transactions related to vested equity compensation.
Stakeholder Impact
- Shareholders are informed about the CEO's stock transactions, providing transparency into insider activity.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Commencement date for vesting of some restricted stock units at a rate of 1/3 per year. |
| 03/21/2025 | Date of the stock transaction where 2,806 shares were disposed of. |
| 03/21/2025 | Commencement date for vesting of some restricted stock units at a rate of 1/3 per year. |
| 03/25/2025 | Date of Form 4 filing. |
| 03/20/2026 | Commencement date for vesting of some restricted stock units at a rate of 1/3 per year. |
| 12/31/2026 | Vesting date for some restricted stock units. |
Keywords
Form 4, Beneficial Ownership, Orange County Bancorp, Michael Gilfeather, Stock Transaction, Restricted Stock Units, Phantom Stock, OBT
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