Form 4: Orange County Bancorp Director Kevin J. Keane Reports Beneficial Ownership Changes

Director Kevin J. Keane reports changes in beneficial ownership of Orange County Bancorp, Inc. stock, including acquisitions of phantom stock and holdings through partnerships and 401(k).

Summary

• Kevin J. Keane, a director of Orange County Bancorp, Inc. (OBT), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report indicates transactions made on April 1, 2024.
• Keane directly owns 10,201 shares of common stock, which includes restricted stock units vesting at different dates and settling upon separation from service.
• He also indirectly owns 3,700 shares through a partnership and 416 shares through a 401(k).
• Additionally, Keane acquired 393 shares of phantom stock on April 1, 2024, at a price of $47.74 per share, bringing his total phantom stock holdings to 4,362 shares.
• These phantom stock shares are the economic equivalent of common stock and become payable upon his separation of service as a director.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document is a standard regulatory filing reporting changes in ownership. The acquisition of phantom stock could be seen as a slightly positive sign of continued commitment.

Positives

• The director's continued holding of company stock aligns his interests with those of shareholders.
• The acquisition of phantom stock indicates a continued commitment to the company's long-term success.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of restricted stock units in the future suggests continued director involvement.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about changes in the director's ownership stake, providing transparency.

Key Dates