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

Michael J. Gilfeather, President and CEO of Orange County Bancorp, Inc., filed a Form 4 disclosing changes in his beneficial ownership of the company's stock, including acquisitions of common stock and phantom stock.

Summary

• On March 19, 2025, Michael J. Gilfeather, the President and CEO of Orange County Bancorp, Inc., filed a Form 4 with the SEC.
• The filing reports changes in his beneficial ownership of Orange County Bancorp's securities.
• The reported transactions include the acquisition of 116 shares of phantom stock at a price of $24.18 per share.
• Gilfeather directly owns 89,088 shares of common stock, which includes restricted stock units vesting at different dates.
• He also indirectly owns 15,850 shares of common stock through an IRA.
• The phantom stock is the economic equivalent of common stock and becomes payable upon separation of service.

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 interpret as a signal of his confidence in the company's future prospects.

Comparison to Industry Standards

• Comparing insider ownership percentages and trading activity to peer banks like Rhinebeck Bancorp, Inc. or Catskill Hudson Bancorp can provide context.
• Tracking similar Form 4 filings from executives at these comparable companies can help determine if the trading activity is in line with industry trends.

Stakeholder Impact

• Shareholders may view the CEO's increased ownership as a positive sign, reflecting confidence in the company's performance.
• The filing ensures transparency for all stakeholders regarding insider trading activities.

Key Dates

Keywords

Form 4, Beneficial Ownership, Orange County Bancorp, Michael J. Gilfeather, Phantom Stock, Common Stock, Restricted Stock Units, IRA, OBT