4/A: Orange County Bancorp Director Amends Filing to Clarify Stock Transactions

Marianna R. Kennedy, a director at Orange County Bancorp, files an amendment to a previous Form 4, detailing transactions involving common stock and phantom stock.

Summary

• Marianna R. Kennedy, a director of Orange County Bancorp, Inc. (OBT), filed an amended Form 4 with the SEC.
• The amendment clarifies transactions related to common stock and derivative securities, specifically phantom stock.
• The earliest transaction date reported is December 16, 2024.
• Kennedy directly owns 851 shares of common stock.
• She also holds 3,670 derivative securities in the form of phantom stock, each equivalent to one share of common stock, payable upon separation of service as a director.
• The phantom stock transaction on December 16, 2024, involved the acquisition of 15 phantom stock units at a price of $59.24.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, but the director's continued investment in phantom stock suggests confidence in the company's future performance.

Future Outlook

The phantom stock becomes payable upon the reporting person's separation of service as a director, indicating a future event that will trigger the distribution of these shares.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations. This filing provides insight into director Kennedy's holdings and recent transactions.

Key Dates