Form 4: Orange County Bancorp Director Kevin J. Keane Reports Acquisition of Phantom Stock

Director Kevin J. Keane reports acquisition of phantom stock and adjustments to his holdings of Orange County Bancorp, Inc. common stock.

Summary

• On April 1, 2025, Kevin J. Keane, a director of Orange County Bancorp, Inc., reported changes in his beneficial ownership of the company's securities.
• Keane acquired phantom stock representing 808 shares of common stock, with each share being the economic equivalent of one share of common stock and payable upon separation of service as a director.
• The price of the derivative security (phantom stock) was $23.91.
• Following the reported transaction, Keane directly owns 19,395 shares of common stock, indirectly owns 7,400 shares through a partnership, and 832 shares through a 401(k).
• The 19,395 shares includes restricted stock units which vest 100% as of the date of grant and are settled in shares of Issuer common stock upon separation from service of the reporting person.
• The 19,395 shares also includes restricted stock units which vest 100% on February 20, 2026 and are settled in shares of Issuer common stock upon separation from service of the reporting person.
• He also holds 13,914 derivative securities (phantom stock).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating neutral sentiment. It simply reports transactions without expressing any positive or negative outlook.

Future Outlook

The phantom stock becomes payable upon the reporting person's separation of service as a director.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in the financial industry to ensure transparency and prevent insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies, as mandated by the SEC.
• The reporting of phantom stock is also a common practice, particularly in executive compensation packages within the banking sector.
• Comparable companies would have similar filings when their directors or officers trade in the company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.
• It assures stakeholders that insider transactions are being monitored and reported as required by regulations.

Key Dates

Keywords

Form 4, beneficial ownership, phantom stock, Orange County Bancorp, director, Keane, OBT