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

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

Summary

• On July 1, 2024, Marianna R. Kennedy, a director of Orange County Bancorp, Inc., reported acquiring phantom stock.
• Kennedy also holds restricted stock units that vest at different dates and are settled in shares of Issuer common stock upon separation from service.
• The reported transaction involved phantom stock with a price of $47.51, resulting in Kennedy beneficially owning 2,863 derivative securities.
• Kennedy directly owns 1,301 shares of common stock, including restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating neutral sentiment.

Industry Context

This filing is a routine disclosure of a director's stock ownership and derivative holdings, which is common in publicly traded companies.

Comparison to Industry Standards

• Director stock ownership is a common practice in publicly traded companies like Orange County Bancorp.
• Comparable companies such as Bank of America or JPMorgan Chase also have similar reporting requirements for their directors' stock transactions.
• The level of detail in this Form 4 filing is consistent with SEC regulations and industry standards for transparency.

Stakeholder Impact

• The filing provides transparency to shareholders regarding director stock ownership.
• It assures stakeholders that directors have a vested interest in the company's performance.

Key Dates