4/A: Orange County Bancorp Director Amends Filing on Share Transactions

A director of Orange County Bancorp, Gregory F. Holcombe, amended a previous filing to report changes in his beneficial ownership of company stock, including direct and indirect holdings.

Summary

• Gregory F. Holcombe, a director at Orange County Bancorp, filed an amended statement regarding changes in his beneficial ownership of the company's stock.
• The filing includes details of both direct and indirect holdings of common stock.
• The director directly owns 34,530 shares of common stock.
• Indirect holdings include 7,460 shares through a foundation, 34,720 shares through an LLC, and 6,027 shares through a trust.
• The filing also reports the acquisition of 32 phantom stock units on September 16, 2024, which are economically equivalent to common stock and become payable upon separation of service.
• The director also disposed of 8,199 phantom stock units.
• The phantom stock units are valued at $59.43 each.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership, which is neither positive nor negative in itself.

Industry Context

This filing is a routine disclosure of insider transactions, which is a common practice for publicly traded companies and their directors.

Comparison to Industry Standards

• The reporting of beneficial ownership changes by directors is a standard practice across all publicly listed companies in the US.
• The use of phantom stock as a form of compensation is also a common practice, particularly for directors and executives.
• The specific details of the transactions, such as the number of shares and the price, are unique to this individual and company, but the overall process is consistent with industry norms.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's holdings in the company.
• The transactions do not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

beneficial ownership, stock transactions, director holdings, phantom stock, Orange County Bancorp, OBT, SEC Form 4