Form 4: Orange County Bancorp Director Kennedy Reports Acquisition of Phantom Stock

Director Marianna R. Kennedy reports acquisition of phantom stock and holdings of common stock in Orange County Bancorp.

Summary

• On December 16, 2024, Marianna R. Kennedy, a director of Orange County Bancorp, Inc., reported a transaction involving derivative securities.
• Kennedy acquired phantom stock, which is the economic equivalent of common stock, at a price of $59.24 per share.
• The phantom stock becomes payable upon Kennedy's separation of service as a director.
• Kennedy directly owns 1,301 shares of common stock.
• The filing also includes information about restricted stock units that 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: The document is a standard regulatory filing detailing a transaction by a company director, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the holdings of company insiders.

Key Dates