Form 4: Orange County Bancorp Director Kennedy Acquires Phantom Stock and Restricted Stock Units

Director Marianna R. Kennedy reports acquisition of phantom stock and restricted stock units in Orange County Bancorp, Inc.

Summary

• On June 15, 2024, Marianna R. Kennedy, a director of Orange County Bancorp, Inc., acquired phantom stock and restricted stock units.
• The phantom stock acquisition involved 13 shares at a price of $44.62 per share.
• The director directly owns 2,469 derivative securities following the reported transaction.
• The director directly owns 1,301 shares of common stock.
• The restricted stock units vest at different dates and are settled in shares of Issuer common stock upon separation from service of the reporting person.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports a transaction and doesn't inherently indicate positive or negative sentiment about the company's prospects.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting dates of the restricted stock units.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency to investors regarding the actions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
• Companies like JPMorgan Chase & Co. and Bank of America also regularly file Form 4 documents when their directors or officers trade company stock.
• The details disclosed in this filing are consistent with the level of information expected in such reports, aligning with industry norms for transparency and regulatory compliance.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director's holdings.
• The vesting of restricted stock units may incentivize the director to contribute to the company's long-term success.

Key Dates